<SEC-DOCUMENT>0001292814-20-004445.txt : 20201119
<SEC-HEADER>0001292814-20-004445.hdr.sgml : 20201119
<ACCEPTANCE-DATETIME>20201119170417
ACCESSION NUMBER:		0001292814-20-004445
CONFORMED SUBMISSION TYPE:	20-F/A
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20191231
FILED AS OF DATE:		20201119
DATE AS OF CHANGE:		20201119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENERGY CO OF PARANA
		CENTRAL INDEX KEY:			0001041792
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14668
		FILM NUMBER:		201329494

	BUSINESS ADDRESS:	
		STREET 1:		RUA CORONEL DULCIDIO 800
		STREET 2:		80420 170 CURITIBA PARANA
		CITY:			FEDERATIVE REPUBLIC
		STATE:			D5
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		CT CORPORATION SYSTEM
		STREET 2:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F/A
<SEQUENCE>1
<FILENAME>elpform20f_2019a.htm
<DESCRIPTION>20-F/A
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 9.5pt/87% Times New Roman, Times, Serif; margin: 6pt 0 4pt; text-align: center; border-bottom: black 0.75pt double"><B>As
filed with the Securities and Exchange Commission on November 19, 2020</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><B>UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><B>Washington, DC 20549</B></P>

<P STYLE="font: 10pt/86% Georgia, Times, Serif; margin: 0 0 4pt; text-align: center; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><B>FORM 20-F/A</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><B>(Amendment No. 2)</B></P>

<P STYLE="font: 10pt/86% Georgia, Times, Serif; margin: 0 0 4pt; text-align: center; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-bottom: 4pt; margin-left: 0"><B>ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(d)</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><B>OF THE SECURITIES EXCHANGE ACT
OF 1934</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><B>For the fiscal year ended December
31, 2019</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: center"><B>Commission file number: 001-14668</B></P>

<P STYLE="font: 10pt/86% Georgia, Times, Serif; margin: 0 0 4pt; text-align: center; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>COMPANHIA PARANAENSE DE ENERGIA
&ndash; COPEL</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>(Exact Name of Registrant as
Specified in its Charter)</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt/82% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Energy Company of Paran&aacute;</B></P>
        <P STYLE="font: 9.5pt/82% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Translation of Registrant&rsquo;s Name
        into English)</B></P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt/82% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The Federative Republic of Brazil</B></P>
        <P STYLE="font: 9.5pt/82% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Jurisdiction of Incorporation or Organization)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt/82% Georgia, Times, Serif; margin: 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 9.5pt/87% Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><B>Rua Coronel Dulc&iacute;dio, 800</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>80420-170 Curitiba, Paran&aacute;, Brazil</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices)</P>

<P STYLE="font: 10pt/86% Georgia, Times, Serif; margin: 0; text-align: center; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Daniel Pimentel Slaviero</B></P>

<P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>+55 41 3331 4011 &ndash; ri@copel.com</B></P>

<P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Rua Coronel Dulc&iacute;dio, 800, 3rd
floor &ndash; 80420.170 Curitiba, Paran&aacute;, Brazil</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 3pt; border-bottom: black 0.5pt solid; text-align: center">(Name,
telephone, e-mail and/or facsimile number and address of company contact person)</P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt/86% Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><B>Securities registered or to be
registered pursuant to Section 12(b) of the Act:</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.25pt solid"><B>Title of Each Class</B></P></TD>
    <TD>
        <P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.25pt solid"><B>Trading
        Symbol(s)</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.25pt solid"><B>Name of Each Exchange
        on Which Registered</B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; font: 10pt/106% Georgia, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt; line-height: 106%">Preferred Class B Shares, without par value*</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font: 10pt/150% Georgia, Times, Serif; padding-bottom: 4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt; line-height: 150%">CPLE6</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/150% Georgia, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt; line-height: 150%">New York Stock Exchange</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 8.5pt; text-align: justify; text-indent: -8.5pt">American Depositary
        Shares (as evidenced by American Depositary Receipts),</P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 8.5pt; text-indent: -8.5pt">each representing one Preferred
        Class B Share</P></TD>
    <TD COLSPAN="2" STYLE="font: 10pt/150% Georgia, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt; line-height: 150%">ELP</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center">New York Stock Exchange</P>
        <P STYLE="font: 9.5pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/86% Georgia, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 0 0 4pt">* Not for trading, but only in connection with the listing
of American Depositary Shares on the New York Stock Exchange.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities registered or to be registered
pursuant to Section 12(g) of the Act: None</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities for which there is a reporting
obligation pursuant to Section 15(d) of the Act: None</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Indicate the number of outstanding shares
of each of the Issuer&rsquo;s classes of capital or common stock as of December 31, 2019:</B></P>

<P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center">145,031,080 Common Shares, without
par value</P>

<P STYLE="font: 9.5pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center">327,142 Class A Preferred Shares, without
par value</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">128,297,153 Class B Preferred Shares, without
par value</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: justify">Indicate by check mark if the registrant
is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 4.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Yes
</FONT>&#9746; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">No </FONT>&#9744;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: justify">If this report is an annual or transition
report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934.</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 4.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Yes
</FONT>&#9744; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">No </FONT>&#9746;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: justify">Indicate by check mark whether the
registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject
to such filing requirements for the past 90 days.</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 4.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Yes
</FONT>&#9746; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">No </FONT>&#9744;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: justify">Indicate by check mark whether the
registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required
to submit such files).</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: center">N/A</P>


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<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: justify">Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the
definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; and &rdquo;emerging growth company&rdquo;
in Rule 12b-2 of the Securities Exchange Act of 1934. (Check one):</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 4.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Large
accelerated filer </FONT>&#9746; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Accelerated filer
</FONT>&#9744;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 4.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Non-accelerated
filer </FONT>&#9744; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Emerging growth company </FONT>&#9744;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 4.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">If
an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. </FONT>&#9744;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">&dagger;The term &ldquo;new or revised financial accounting
standard&rdquo; refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification
after April 5,2012.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: justify">Indicate by check mark which basis
of accounting the registrant has used to prepare the financial statements included in this filing:</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 4.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">U.S.
GAAP &#9;</FONT>&#9744; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">&#9;IFRS&#9;&#9746;&#9;Other
</FONT>&#9744;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: justify">If &ldquo;Other&rdquo; has been checked
in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: center">N/A</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Indicate
by check mark whether the registrant has filed a report on and attestation to its management&rsquo;s assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (&sect; 15 U.S.C. 7262(b)) by
the registered public accounting firm that prepared or issued its audit report. </FONT>&#9746;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0.4pt">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 4.8pt; text-align: justify">If this is an annual report, indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 4.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">Yes
</FONT>&#9744; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9.5pt">No </FONT>&#9746;</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="toc"></A><B>Table of Contents</B></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 90%; text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_001">Explanatory Note</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 0pt">3</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_002">Presentation of Financial and Other Information</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">4</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_003">Forward-Looking Statements</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">5</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_004">Item 1.&nbsp;&nbsp;&nbsp;Identity of Directors, Senior Management and Advisers</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">5</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_005">Item 2.&nbsp;&nbsp;&nbsp;Offer Statistics and Expected Timetable</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">5</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_006">Item 3.&nbsp;&nbsp;&nbsp;Key Information</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">6</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_007">Selected Financial Data</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">6</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_008">Risk Factors</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">9</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_009">Item 4.&nbsp;&nbsp;&nbsp;Information on the Company</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">34</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_010">The Company</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">34</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_011">Business</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">38</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_012">Concessions</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">61</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_013">Competition</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">70</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_014">Environment</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">71</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_015">Plant, Property and Equipment</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">72</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_016">The Expropriation Process</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">73</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_017">The Brazilian Electric Power Industry</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">74</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_018">Item 4A.&nbsp;&nbsp;&nbsp;Unresolved Staff Comments</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">93</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_019">Item 5.&nbsp;&nbsp;&nbsp;Operating and Financial Review and Prospects</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">93</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_020">Overview</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">94</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_021">Critical Accounting Policies</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">98</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_022">Analysis of Electricity Sales and Cost of Electricity Purchased</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">104</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_023">Results of Operations for the Years Ended December 31, 2019, 2018 and 2017</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">106</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_024">Liquidity and Capital Resources</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">114</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_025">Contractual Obligations</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">120</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_026">Off-Balance Sheet Arrangements</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">121</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_027">Item 6.&nbsp;&nbsp;&nbsp;Directors, Senior Management and Employees</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">122</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_028">Board of Directors</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">122</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_029">Board of Executive Officers</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">125</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_030">Supervisory Board</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">127</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_031">Audit Committee</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">128</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_032">Appointment and Evaluation Committee</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">129</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_033">Compensation of Directors, Officers, Fiscal Council Members and Audit Committee Members</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">130</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_034">Employees</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">131</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_035">Share Ownership</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">133</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_036">Item 7.&nbsp;&nbsp;&nbsp;Major Shareholders and Related Party Transactions</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">134</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_037">Major Shareholders</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">134</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_038">Related Party Transactions</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">135</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_039">Item 8.&nbsp;&nbsp;&nbsp;Financial Information</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">137</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_040">Legal Proceedings</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">138</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_041">Dividend Payments</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">139</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_042">Item 9.&nbsp;&nbsp;&nbsp;The Offer and Listing</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">142</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_043">Item 10.&nbsp;&nbsp;&nbsp;Additional Information</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">143</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_044">Memorandum and Articles of Association</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">143</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_045">Material Contracts</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">148</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_046">Exchange Controls</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">149</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_047">Taxation</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">151</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_048">Dividends and Paying Agents</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">157</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_049">Statement By Experts</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">158</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_050">Subsidiary Information</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">159</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -35.45pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 49.65pt"><A HREF="#a_051">Documents on Display</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">160</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_052">Item 11.&nbsp;&nbsp;&nbsp;Quantitative and Qualitative Disclosures about Market Risk</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">160</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_053">Item 12.&nbsp;&nbsp;&nbsp;Description of Securities Other than Equity Securities</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">160</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_054">Item 12A.&nbsp;&nbsp;&nbsp;Debt Securities</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">160</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_055">Item 12B.&nbsp;&nbsp;&nbsp;Warrants and Rights</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">160</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_056">Item 12C.&nbsp;&nbsp;&nbsp;Other Securities</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">160</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_057">Item 12D.&nbsp;&nbsp;&nbsp;American Depositary Shares</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">160</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_058">Item 13.&nbsp;&nbsp;&nbsp;Defaults, Dividend Arrearages and Delinquencies</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">161</TD></TR>
</TABLE>
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    <TD STYLE="width: 90%; text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_059">Item 14.&nbsp;&nbsp;&nbsp;Material Modifications to the Rights of Security Holders and Use of Proceeds</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 0pt">161</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_060">Item 15.&nbsp;&nbsp;&nbsp;Control and Procedures</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">161</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_061">Item 16A.&nbsp;&nbsp;&nbsp;Audit Committee Financial Expert</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">166</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_062">Item 16B.&nbsp;&nbsp;&nbsp;Code of Ethics</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">166</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_063">Item 16C.&nbsp;&nbsp;&nbsp;Principal Accountant Fees and Services</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">167</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_064">Item 16D.&nbsp;&nbsp;&nbsp;Exemption from the Listing Standards for Audit Committees</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">168</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_065">Item 16E.&nbsp;&nbsp;&nbsp;Purchases of Equity Securities by the Issuer and Affiliated Purchasers</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">168</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_066">Item 16F.&nbsp;&nbsp;&nbsp;Changes in Registrant&rsquo;s Certifying Accountant</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">168</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_067">Item 16G.&nbsp;&nbsp;&nbsp;Corporate Governance</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">168</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_068">Item 17.&nbsp;&nbsp;&nbsp;Financial Statements</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">171</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_069">Item 18.&nbsp;&nbsp;&nbsp;Financial Statements</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">171</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -39.8pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0.75in"><A HREF="#a_070">Item 19.&nbsp;&nbsp;&nbsp;Exhibits</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">171</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: 14.2pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in"><A HREF="#a_071">Technical Glossary</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">173</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: 14.2pt; padding-top: 0in; padding-bottom: 0pt; padding-left: 0in"><A HREF="#a_072">Signatures</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">179</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_001"></A>EXPLANATORY NOTE</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">This Amendment No. 2 (&ldquo; <U>Amendment
No. 2</U> &rdquo;) to the Annual Report on Form 20-F of Companhia Paranaense de Energia &ndash; Copel (the &ldquo; <U>Company</U>&rdquo;)
for the fiscal year ended December 31, 2019 filed on April 27, 2020 (the &ldquo;<U>Original Form 20-F</U>&rdquo;) is being filed
to amend Item 15(a) and Item 15(b) to correctly state that the Company&rsquo;s disclosure controls and procedures and the Company&rsquo;s
internal controls over financial reporting, respectively, were not effective as of December 31, 2019 and to include pages that were inadvertently omitted from Amendment No. 1 to the Original Form 20-F.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Exhibits 12.1, 12.2, 13.1 and 13.2 to
the Original Form 20-F were inadvertently filed without the requisite conformed signatures, although the original certifications
were signed on April 27, 2020. Consequently, this Amendment No.2 includes the full report and the requisite signatures to Exhibits
12.1, 12.2, 13.1 and 13.2 thereto.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Other than as set forth above, this
Amendment No. 2 does not, and does not purport to, amend, update or restate the information in any other item of the Original Form
20-F. As a result, this Amendment No. 2 does not reflect any events that may have occurred after the Annual Report was filed on
April 27, 2020.</P>


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<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_002"></A><B>PRESENTATION OF FINANCIAL AND
OTHER INFORMATION</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In this annual
report, we refer to Companhia Paranaense de Energia &#8210; Copel, and, unless the context otherwise requires, its consolidated
subsidiaries as &ldquo;Copel&rdquo;, the &ldquo;Company&rdquo;, &ldquo;we&rdquo; or &ldquo;us&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">References
to (i) the &ldquo;<I>real</I>&rdquo;, &ldquo;<I>reais</I>&rdquo; or &ldquo;R$&rdquo; are to Brazilian <I>reais&nbsp;</I>(plural)
and the Brazilian <I>real&nbsp;</I>(singular) and (ii) &ldquo;U.S. dollars&rdquo;, &ldquo;dollars&rdquo; or &ldquo;US$&rdquo; are
to United States dollars. We maintain our books and records in <I>reais</I>. Certain figures included in this annual report have
been subject to rounding adjustments.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our audited
consolidated financial statements as of December 31, 2019 and 2018, and for each of the years ended December 31, 2019, 2018 and
2017, are included in this annual report. We prepared our audited consolidated financial statements included in this annual report
in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board,
or IASB.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">References
in this annual report to the &ldquo;Common Shares&rdquo;, &ldquo;Class A Shares&rdquo; (or &ldquo;Class A&rdquo;) and &ldquo;Class
B Shares&rdquo; (or &ldquo;Class B&rdquo;) are to our common shares, class A preferred shares and class B preferred shares, respectively.
References to &ldquo;American Depositary Shares&rdquo; or &ldquo;ADSs&rdquo; are to American Depositary Shares, each representing
one Class B Share. The ADSs are represented by American Depositary Receipts (&ldquo;ADRs&rdquo;).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Certain terms
are defined the first time they are used in this annual report. As used herein, all references to &ldquo;GW&rdquo; and &ldquo;GWh&rdquo;
are to gigawatts and gigawatt hours, respectively, references to &ldquo;kW&rdquo; and &ldquo;kWh&rdquo; are to kilowatts and kilowatt
hours, respectively, references to &ldquo;MW&rdquo; and &ldquo;MWh&rdquo; are to megawatts and megawatt hours, respectively, and
references to &ldquo;kV&rdquo; are to kilovolts. These and other technical terms are defined in the &ldquo;Technical Glossary&rdquo;
that begins on page 189.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_003"></A>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This annual
report contains forward-looking statements. We may also make written or oral forward-looking statements in our annual report to
shareholders, in our offering circulars and prospectuses, in press releases and other written materials and in oral statements
made by our officers, directors or employees. These statements are not historical facts and are based on management&rsquo;s current
view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words
&ldquo;anticipates&rdquo;, &ldquo;believes&rdquo;, &ldquo;estimates&rdquo;, &ldquo;expects&rdquo;, &ldquo;plans&rdquo; and similar
expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration
or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the
direction of future operations and the factors or trends affecting the financial condition, liquidity or results of operations
are examples of forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake
no obligation to update publicly any of them in light of new information or future events.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Forward-looking
statements involve only the current view of management and are subject to a number of inherent risks and uncertainties. There is
no guarantee that the expected events, trends or results will actually occur. We caution you that a number of important factors
could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but
are not limited to:</P>

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<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Brazilian political and economic conditions;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">economic conditions in the State of Paran&aacute;;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">technical and operational conditions related
to the provision of electricity services;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">lawsuits;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">our ability to obtain financing;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">developments in other emerging market
countries;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in, or failure to comply with,
governmental regulations;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">competition;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">electricity shortages;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">impacts of the coronavirus (COVID-19)
pandemic; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">other factors discussed below under &ldquo;Item
3. Key Information&#8213;Risk Factors&rdquo;.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All forward-looking
statements are expressly qualified in their entirety by this cautionary statement, and you should not place undue reliance on any
forward-looking statement contained in this annual report.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_004"></A>Item 1. Identity of Directors, Senior Management
and Advisers</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">Not applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><A NAME="a_005"></A><B>Item 2. Offer Statistics and Expected Timetable</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt">Not applicable.<BR STYLE="clear: both">
</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_006"></A>Item 3. Key Information</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_007"></A><B>SELECTED FINANCIAL DATA</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This section
contains selected consolidated financial data presented in <I>reais</I> and derived from our consolidated financial statements
that were prepared in accordance with IFRS as of and for each of the five years ended December 31, 2019, 2018, 2017, 2016 and 2015.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
following selected financial data should be read in conjunction with our audited consolidated financial statements (including the
notes thereto), &ldquo;Presentation of Financial and Other Information&rdquo;, &ldquo;Item 5. Operating and Financial Review and
Prospects&rdquo; and &ldquo;Item 8. Financial Information&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The selected
financial data as of December 31, 2019 and 2018 and for the years ended December 31, 2019, 2018 and 2017 have been derived from
our audited consolidated financial statements, prepared in accordance with IFRS, and included in this annual report. The selected
financial data as of December 31, 2017, 2016 and 2015 and for the years ended December 31, 2016 and 2015, have been derived from
our audited consolidated financial statements, prepared in accordance with IFRS, which are not included in this annual report.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of January
1, 2019, IFRS 16 took effect, but without requiring restatement of balance sheets as of December 31, 2018 and earlier financial
periods. The applicability of IFRS 16 should to be taken into account in the comparability of balances presented below. For further
details see Note 4.16.1 to our audited consolidated financial statements, prepared in accordance with IFRS.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 4.3pt; text-indent: -4.3pt; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>As
        of and for the year ended December 31,</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 4.3pt; text-indent: -4.3pt; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2016</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2015</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 4.3pt; text-indent: -4.3pt; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(R$million)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Statement of income data<SUP>(1)</SUP>:</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Operating revenues&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">16,244</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">14,935</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">14,025</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13,102</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">14,946</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Cost of sales and services provided&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(11,760)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(11,502)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(10,666)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(10,234)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(11,799)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Gross profit&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,484</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,433</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,359</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,868</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,147</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Operational expenses/income&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,293)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,039)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,218)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(879)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,025)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Profit before financial results and taxes&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,191</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,394</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,141</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,989</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,121</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Financial results&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(488)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(438)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(748)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(595)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(428)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Profit before income tax and social contribution</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,702</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,956</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,393</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,394</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,694</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Income tax and social contribution on profit&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(639)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(512)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(275)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(520)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(532)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Net income for the year&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,063</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,444</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,118</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">874</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,162</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Statement of financial position data:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Current assets&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,909</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,678</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,702</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,237</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,822</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Recoverable rate deficit (CRC)<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,350</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,445</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,516</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,523</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,383</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Non-current assets&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,863</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,014</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,608</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,313</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,952</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Property, plant and equipment, net&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,592</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,841</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9,829</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,934</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,693</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Total assets&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">38,313</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">35,930</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">33,162</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">30,289</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">28,844</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Loans and financing and debentures (current)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,420</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,298</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,417</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,602</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,233</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Current liabilities&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,346</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,695</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,110</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,656</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,789</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Loans and financing and debentures (non-current)</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,152</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,268</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,414</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,235</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,528</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Non-current liabilities&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">15,368</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12,899</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">11,542</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9,655</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9,574</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Equity&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">17,598</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">16,336</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">15,510</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">14,978</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">14,480</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&nbsp;Attributable to controlling shareholders&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">17,252</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">16,033</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">15,208</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">14,718</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">14,162</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&nbsp;Attributable to non-controlling interest&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">346</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">303</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">302</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">260</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">318</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Share capital&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,800</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,910</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,910</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,910</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,910</FONT></TD></TR>
<TR>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 0 21.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"><SUP>(1) </SUP>This item includes both
current and non-current CRC Account receivables. Amounts due from the State of Paran&aacute; that were included in current assets
totaled R$219 million on 2019, R$190.9 million in 2018, R$167.1 million in 2017, and R$111.7 million in 2015. Amounts due from
the State of Paran&aacute; that were included in long-term assets totaled R$1,131 million in 2019, R$1,254.2 million in 2018, R$1,349.3
million in 2017, R$1,522.7 million in 2016 and R$1,271.6 million in 2015. In 2016 the entire amount due by the State of Paran&aacute;
was included in long-term assets due to the negotiation of the Amendment to the CRC Agreement. See Note 8 to our audited consolidated
financial statements.</P>


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<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>As
        of and for the year ended December 31,</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2016</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2015</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center; line-height: 150%">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(R$, except for number of shares)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; padding-left: 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Basic and diluted earnings per share:</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Common Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6.94</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4.91</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.61</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.13</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.87</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class A Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9.12</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5.40</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.97</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.44</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4.26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class B Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.64</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5.40</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.97</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.44</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4.26</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; padding-top: 6pt; padding-right: -0.1in; padding-left: 4.3pt; text-indent: -4.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><I>Number of shares outstanding at year end (in thousands):</I></FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Common Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class A Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">327</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">329</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">329</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">349</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">380</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class B Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,297</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,295</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,295</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,275</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,244</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total&#9;</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Dividends per share at year end:</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Common Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.24</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.32</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.01</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.99</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class A Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.95</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.89</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.89</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.89</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.53</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class B Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.47</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.45</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.11</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.08</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.25</FONT></TD></TR>
<TR>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>As
        of and for the year ended December 31,</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2016</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2015</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 4.3pt; text-indent: -4.3pt; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(US$&sup1;, except for number of shares)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; padding-left: 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Basic and diluted earnings per share:</B></FONT></TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Common Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.72</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.27</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.09</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.97</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.99</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class A Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.26</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.39</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.20</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.06</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.09</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class B Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.90</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.39</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.20</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.06</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.09</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Number of shares outstanding at year end (in thousands):</I></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Common Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145,031</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class A Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">327</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">329</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">329</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">349</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">380</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class B Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,927</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,295</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,295</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,275</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">128,244</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total&#9;</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>273,655</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Dividends per share at year end:</I></FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Common Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.56</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.34</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.31</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.30</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.29</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class A Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.98</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.75</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.87</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.89</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.65</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding: 6pt -8.3pt 6pt 4.3pt; text-indent: -4.3pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Class B Preferred Shares&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.61</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.37</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.34</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.33</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.32</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 0 21.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><SUP>(1) </SUP>This information is presented in U.S. dollars at the
exchange rate in effect as of the end of each year.<BR STYLE="clear: both">
</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><A NAME="a_008"></A><B>Risk
Factors </B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Risks Relating to Our Company
and our Operations</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are controlled by the
State of Paran&aacute;, the policies and priorities of which directly affect our operations and may conflict with the interests
of our investors.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are controlled
by the State of Paran&aacute;, which holds 58.6% of our outstanding common voting shares as of the date of this annual report,
and whose interests may differ from other shareholders. As a major shareholder, the State of Paran&aacute; has the power to control
all of our operations, including the power to elect a majority of the members of our Board of Directors and determine the outcome
of any action requiring common shareholder approval, including transactions with related parties and corporate reorganizations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
operations have had and will continue to have an important impact on the commercial and industrial development of the State of
Paran&aacute;. In the past, the State of Paran&aacute; has used, and may in the future use, its status as our controlling shareholder
to decide whether we should engage in certain activities and make certain investments aimed, principally, to promote its public
policies or social objectives and not necessarily to meet the objective of improving our business and/or operational results.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>We are involved
in several lawsuits that could have a material adverse effect on our business if their outcome is unfavorable to us.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are the
defendant in several legal proceedings, mainly relating to civil, administrative, labor and tax claims. The outcome of these proceedings
is uncertain and, if determined against us, may result in obligations that could materially affect our results of operations. On
December 31, 2019, our provisions for probable (more likely than not) and reasonably estimated losses were R$1,606.7 million. For
additional information, see &ldquo;Item 8. Financial Information&mdash;Legal Proceedings&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt"><B><I>We are subject to limitations regarding the amount
and use of public sector financing, which could prevent us from obtaining financing and implementing our investment program.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
current budget anticipates capital expenditures for expansion, modernization, research, infrastructure and environmental projects
of approximately R$2,087.2 million in 2020. As a state-controlled company, we are subject to Brazilian Central Bank Resolution
no. 4,589/2017<I>(Resolu&ccedil;&atilde;o n&ordm; 4,589/2017 do Banco Central do Brasil</I>), which defines the limit of exposure
and the annual global limit of credit to public sector entities to be observed by financial institutions and other institutions
authorized to operate by the Brazilian Central Bank. The annual global limit that can be contracted in credit operations, with
and without guarantee of the Union, by the bodies and entities of the public sector with the financial institutions and other institutions
authorized to operate by the Brazilian Central Bank is defined by the National Monetary Council by means of inclusion of an annex
to Brazilian Central Bank Resolution no. 4,589/2017, establishing, until the end of each fiscal year, the limit for the following
year. The maximum amounts defined for the 2020 financial year are up to R$4.5 billion for Union guaranteed operations and up to
R$3.5 billion for operations without Union guarantee. As a result of these limits, we may have difficulty in obtaining financing
from financial institutions and other institutions authorized to operate by the Brazilian Central Bank, which could create difficulties
in the implementation of our investment program. Additionally, some of our concession contracts have provisions that limit our
permitted level of indebtedness, which could also affect our ability to obtain necessary financing. Furthermore, the requirements
and other criteria adopted by financial institutions when approving new financing transactions may be related to certain Brazilian
macroeconomic scenarios, as well as to our financial indicators, such as our indebtedness levels and other indicators usually considered
by financial institutions in their credit risk assessments. We cannot ensure you that these requirements and criteria will be met.
As a result of these regulations and provisions, our capacity to incur debt from certain sources is limited, which could negatively
affect the implementation of our investment program.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Breach of
security of our data center by cyber attacks, or unauthorized disclosure of business or personal information, as well as our failure
to comply with existing and future laws and regulations relating to data privacy and data security, may subject us to penalties
or result in disruption of our operations.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">We
collect, store, process and use various confidential information related to our business and operations. In our ordinary course
of business, we also collect and store personal data of our customers in our data centers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Despite
our security measures, our information technology and infrastructure may be vulnerable to (i) attacks by hackers, which can access
our safety net and steal our information, paralyze our operations or even cause power outages, or (ii) breaches due to employee
error, malfeasance or other disruptions. Any such breach could compromise our networks and the information stored there could be
accessed, publicly disclosed, lost or stolen. Any such access, disclosure or loss of information could affect our operations and
could result in legal claims or proceedings under Brazilian laws that protect the privacy of personal information (among others)
and damage our reputation.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Aware
of the increased risk of cyber threat, the Information Technology Superintendence carried out important measures during 2019, such
as contracting intrusion testing services and maturity measurement services, seeking effective actions to reduce the Company's
risks of such matter. The planning resulting from these measures became the Information Security Plan, which will be carried out
during 2020, comprising several initiatives, the most significant of which are: (i) contracting Pentest services on a quarterly
basis; (ii) implementation of a Security Operation Center (&ldquo;SOC&rdquo;) (<I>Centro de Opera&ccedil;&atilde;o de Seguran&ccedil;a</I>);
(iii) implementing IT actions to comply with <FONT STYLE="line-height: 106%">Brazilian Federal Law No. 13,709/2018;</FONT> (iv)
review and update of the Information Security Incident Management and Response process; (v) adequacy of firewall security policies
at Copel - Internet use by its users; (vi) strengthening of the Information Security Committee; and (vii) implementation of an
Information Security awareness and training program.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Brazilian Federal
Law No. 13,709/2018 (known as <I>Lei Geral de Prote&ccedil;&atilde;o de Dados Pessoais</I>, or the &ldquo;LGPD&rdquo;) was enacted
on August 14, 2018 and applies to any data processing operation performed by an individual or by a public or private entity, regardless
of the environment where this operation is carried out. This statute provides the legal principles and requirements for the processing
of personal data, as well as liabilities and penalties that data processing agents are subject to. These agents must be able to
demonstrate the measures they adopted to comply with personal data protection rules, as well as the effectiveness of such measures.
This statute is expected to come into force in August 2020, and, by then, all entities subject to it, including us, will be required
to adapt their data processing activities to the new requirements. As a result of any violations to this statute, including any
leakage of our clients&rsquo; personal data, we may be subject to penalties, such as (i) warning, with indication of a term for
adoption of corrective measures; (ii) simple fine of up to 2% of the Company&rsquo;s revenue in Brazil, limited to R$50 million
per infringement; (iii) daily fine, limited to R$50 million per infringement; (iv) disclosure of the infringement after it has
been duly confirmed; and (v) elimination of the personal data to which the infringement relates. These penalties may only be imposed
as a result of an administrative proceeding, where we must be given the opportunity to present our defense, in accordance with
the peculiarities of the case. These administrative sanctions can be imposed in addition to any other applicable civil and criminal
penalties.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="line-height: 106%">As
of the date hereof, Bill No. 1179/2020 and No. 1198/2020 (the &ldquo;Data Privacy Bills&rdquo;), which provide, respectively, for
the emergency and transitory legal regimes of the private sector during</FONT> the coronavirus (COVID-19) crisis are under discussion
by the Congress. The <FONT STYLE="line-height: 106%">Data Privacy Bills</FONT> are being considered in the context of measures
entered into in response to the coronavirus (COVID-19) international health crisis, including <FONT STYLE="line-height: 106%">Legislative
Decree No. 06 which recognizes a state of public calamity in Brazil. </FONT>The <FONT STYLE="line-height: 106%">Data Privacy Bills</FONT>
also include, among others, an amendment to article 65 of the <FONT STYLE="line-height: 106%">LGPD on timing of applicable sanctions.
A revision of the LGPB is expected to go effective on January 1<SUP>st</SUP>, 2021 and the revised sanctions set forth therein
shall be applicable starting August 2021</FONT></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">We have engaged
an external consulting firm to assist us in adapting our internal processes, proceedings, rules and controls to the new rules on
data protection (especially the LGPD), and this process is still ongoing. As cyber threats continue to evolve, we may be required
to expend additional resources to continue to modify or enhance protective measures or to investigate and remediate any security
vulnerabilities that are discovered in the future.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>If we are unable to conclude
our investment program on schedule, the operation and development of our business could be adversely affected.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In 2020, we
plan to invest approximately R$865.2 million in our generation and transmission activities (including wind farms and SPCs of transmission
lines), R$1,073.8 million in our distribution activities, R$123.9 million in our telecommunications activities and R$24.3 million
in others investments. Our ability to complete this investment program depends on multiple factors, including our ability to charge
sufficient fees for our services and to obtain sufficient financing and a variety of regulatory and operational contingencies.
There is no assurance that we will have the financial resources to complete our proposed investment program, and our inability
to do so may adversely affect the operation and development of our business leading to the imposition of fines levied by ANEEL
as well as a reduction in tariff levels.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>The construction
and expansion of our transmission and power generation projects involve significant risks that may have an adverse effect on us</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In connection
with the development of transmission and generation projects, we generally must obtain feasibility studies, governmental concessions
or authorizations, permits and approvals, condemnation agreements, equipment supply agreements, engineering, procurement and construction
contracts, sufficient equity and debt financing and site agreements, each of which involves the consent of third parties over which
we have no control. In addition, project development is subject to environmental, engineering and construction risks that can lead
to cost overruns, delays and other impediments to timely complete within a project&rsquo;s budget. We cannot assure you that all
required permits and approvals for our projects will be obtained, that we will be able to secure private sector partners for any
of our projects, that we or any of our partners will be able to obtain adequate financing for our projects or that financing will
be available on a non-recourse basis to us.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">If
we are unable to complete a project, whether at the initial development phase or after construction has commenced, or if the completion
of a project is delayed, this may decrease our expected financial return from the project, which may lead to impairment. If we
experience these or other problems relating to the expansion of our electricity transmission and power generation capacity, we
may be exposed to increased costs, or we may fail to achieve the revenues we planned in connection with such expansion projects,
which may have an adverse effect on our financial condition and results of operations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are largely dependent
upon the economy of the State of Paran&aacute;.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
distribution market for the majority of our sales of electricity is located in the State of Paran&aacute;. Although a more competitive
market involving possible sales to customers outside Paran&aacute; might develop in the future, our business depends and is expected
to continue to depend to a very large extent on the economic conditions of Paran&aacute;. We cannot assure you that economic conditions
in Paran&aacute; will be favorable to us in the future. The GDP (gross domestic product) of the State of Paran&aacute; decreased
0,4% in 2019, while Brazil&rsquo;s GDP increased 1.1% during the same period.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
weak economic growth of Brazil in recent years led to the reduction of energy consumption in the State of Paran&aacute; and in
Brazil as a whole, resulting in leftover energy in the interconnected system, consequently reducing (i) short-term prices and (ii)
prices negotiated in the Free Market. At the same time, prices in the regulated market have risen steadily as a result of supply
deficiencies on the part of contracted energy by distributors and high prices in the short-term market in previous years. As a
result, consumers consistently migrated into the Free Market and, therefore, the distributors&rsquo; captive market suffered a
reduction since 2017, 2018 and 2019.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
December 28, 2018, the MME enacted the Ministerial Ordinance No.&nbsp;514, lowering the minimum energy amounts that consumers may
purchase directly in the Free Market so that as of January 1, 2020 the minimum energy amount was reduced from an amount equal or
superior to 2,500kW to 2,000 kW. Such ordinance was amended in December 2019 by Ministerial Ordinance No. 465/2019, which authorized
consumers&rsquo; access to the Free Market in accordance with the following schedule and thresholds: (i) as from January 1, 2021:
<FONT STYLE="line-height: 106%">consumers with demand equal to or greater than 1,500 kW; (ii) from January 1, 2022: consumers with
demand equal to or greater than 1,000 kW; and (iii) January 1, 2023: consumers with demand of 500 kW or more. Furthermore, by January
31, 2022, ANEEL and Electric Energy Trading Chamber (<I>C&acirc;mara de Comercializa&ccedil;&atilde;o de Energia El&eacute;trica</I>,
or &ldquo;CCEE&rdquo;) are required to consider which regulatory changes are necessary to allow access to the Free Market by consumers
with an electric load lower than 500 kW. As a consequence of the changes introduced by Ministerial Ordinance No. 514/2018 and 465/2019</FONT>,
more consumers were authorized to access the Free Market as of January 1, 2020, and it is expected a greater migration to the Free
Market following the new schedule proposed by the MME. Even though this ordinance intend to enable the migration from the captive
market to the Free Market, we cannot predict their impact on our revenues and possible contractual exposure regarding the limits
of energy purchase.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">A
reduction in the captive market often leads to distributors selling excess contracted energy in the short-term market, considering
the limits established under Federal Decree No. 5,163/2004. This short-term&nbsp;market&nbsp;is subject to relevant price fluctuations.
Whenever the distributor contracting price is above the regulatory limits (above 105%) and the short-term market price is lower
than the price paid by the distributor in its long-term energy purchase agreement, the sale of energy in the short-term market
is made at a loss, which may not be recovered in the future. However, the sale within the regulatory limits (between 100% to 105%)
is neutral for the Company, in other words, it does not expose the distributor to financial risks.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Unfavorable
economic conditions in the State of Paran&aacute; and increasing energy prices may affect both the ability of our distribution
costumers to pay amounts they owe us, as well as increase the number of our commercial losses. An increase in our commercial losses
or uncollected receivables could materially adversely affect our business, financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">An
increase in electricity prices, as well as poor economic performance in the State of Paran&aacute;, would affect the ability of
some of our distributions customers to pay amounts owed to us. As of December 31, 2019, our past due receivables with Final Customers
were approximately R$667.3 million in the aggregate, or 10.4% of our net operating revenues from electricity sales to Final Customers
for the year ended December 31, 2019, and our allowance for doubtful accounts related to these receivables was R$219.0 million.
See Note 7 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">In
addition, in the event of an economic recession combined with high energy prices, the number of our distribution customers connecting
illegally to our distribution grid may increase, which would then decrease our revenue from electricity sales to Final Customers.
Furthermore, energy we lose to these illegal connections is considered a commercial loss (non-technical), and we may incur regulatory
penalties if our commercial losses exceed certain established regulatory thresholds calculated by ANEEL. If ANEEL determines that
we were not efficient in inspecting and controlling the non-technical losses in the distribution grid, the agency may limit the
transfer of such losses to the Final Customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Disruptions
in the operation of, or deterioration of the quality of, our services, or those of our subsidiaries, could have an adverse effect
on our business, financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
operation of complex electricity generation, transmission and distribution systems and networks involves various risks, such as
operational setbacks and unexpected interruptions, caused by accidents, breakdown or failure of equipment or processes, performance
below expected levels of availability and efficiency of assets, or disasters (such as explosions, fires, natural phenomena, landslides,
sabotage, vandalism, and similar events). In addition, operational decisions by authorities responsible for the electricity network,
environment matters, operations and other issues affecting the electricity</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">generation, transmission
or distribution could have an adverse effect on the performance and profitability of the operations of our generation, transmission
and distribution systems. If these issues occurred, our insurance may be insufficient to wholly account for the costs and losses
that we may incur as a result of the damages caused to our assets, <FONT STYLE="font-family: Times New Roman, Times, Serif">or
due to outages.</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Further, the
revenues that our subsidiaries generate from establishing, operating and maintaining their facilities are related to the availability
of equipment and assets, and to the quality of the services (continuity and service in accordance with levels demanded by regulations).
Under the related concession contracts, we and our subsidiaries are subject to: (i) a reduction of the distributor revenue as a
result of the reduction of the so-called &ldquo;Portion B&rdquo; allocation in the revenue calculation formula; (ii) a reduction
of the Permitted Annual Revenue - APR (<I>Receita Anual Permitida</I>, or RAP), for the transmission companies; (iii) the effects
of the Availability Factor (<I>Fator de Disponibilidade</I>, or FID) and the offtake guarantee levels for the generation facilities;
and (iv) the application of penalties and payment of compensation amounts, depending on the scope, severity and duration of non-availability
of the services and equipment. Under Brazilian Law, we are strictly liable for direct and indirect damages resulting from the inadequate
supply of electricity such as abrupt interruptions arising from the generation, transmission or distribution systems. Therefore,
outages or stoppages in our generation, transmission and distribution facilities, or in substations or networks, may cause a material
adverse effect on our business, financial situation and results of operations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>We are subject
to risks related to social and environmental impacts of our projects.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The construction
and operation of our assets may modify the ecosystem, particularly the natural state of the water resources and of the vegetation
of the flooded river basin in the case of hydroelectric power plants. Our projects may cause direct and indirect impacts in the
local communities, such as housing displacement. Moreover, they may affect the economic outputs of the local communities, lead
to the loss of cultural identity or increase the demand for government services. In these eventualities, we may implement specific
plans in order to minimize and mitigate those impacts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Failures in
dams under our responsibility may cause serious damages to the affected communities, to our results and to our reputation.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">Dams are important
infrastructures to our business, and are fundamental components of our hydroelectric power plants for the purposes of diking and
storing water, accounting for the majority of our energy generation capacity. However, in any dam, there is an intrinsic risk of
ruptures caused by different internal or external factors. Therefore, we are subject to the risk of a dam failure that could have
repercussions much greater than just the loss of hydroelectric power generation capacity. A dam failure may result in economic,
social, regulatory and environmental damages and potential loss of human life in the communities downstream from the dams, which
may have a material adverse effect in the image, business, operational results and financial conditions of the Company.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">ANEEL carried
out on-site inspections in 2019 to verify the regulatory compliance of the Dam Safety Plans and Emergency Action Plan of the hydroelectric
power plant dams, including the inspection of the dams and structures associated with them. The inspections demonstrated compliance
of the procedures in relation to dam safety practices with the current applicable legislation.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">In 2019, Copel
also had meetings with state and municipal civil defense coordinating teams with respect to the Emergency Action Plans (&ldquo;PAEs&rdquo;),
which support the preparation of the Municipal Contingency Plans. Fifteen meetings were held with the Civil Defense coordinators
of 28 Municipalities and with coordinators of the State Civil Defense.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>We are exposed to behaviors
that are incompatible with our ethical and compliance standards, and we may be unable to prevent, detect or remediate them in time,
which may cause material adverse effects in our operational results, financial condition and reputation.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">We have a range
of internal rules and controls, including a Governance, Risk and Compliance Office, with the aim to guide our directors, officers,
managers, employees and third-party contractors, and</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">to reinforce our ethical
principles and rules of professional conduct. However, due to the wide distribution and outsourcing of the production chains of
our suppliers, we are not able to control all possible irregularities of the latter and we are not able to ensure that our selection
processes will be sufficient to avoid that our suppliers have problems related to compliance with applicable law, sustainability
or outsourcing of the production chain under inadequate safety conditions.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Furthermore,
we are subject to the risk that our directors, officers, managers, employees, contractors or any person that may do business with
us may involve themselves in fraudulent activities, corruption or bribery, circumventing our internal controls and procedures,
misappropriating our assets or using them for private benefit to the detriment of the Company&rsquo;s interests. We are also subject
to the risk that any other material violations of applicable laws by our directors, officers, managers, employees, or any person
that may do business with us, or any material legal or administrative proceeding, arbitration or investigation in connection with
those violations, may adversely affect our reputation. These risks are increased by the fact that our portfolio includes affiliated
companies, such as special purpose companies, some of which we do not hold a controlling interest in.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Although the
Company has an integrity program with timely updates, with a robust process for investigating complaints, our systems may not be
effective in all circumstances. Any failure in our capacity to prevent or detect noncompliance with the applicable governance rules
or regulatory obligations may cause damages to our reputation or other material adverse effects to our results of operation or
financial condition.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>The rules for electricity
trading and market conditions may affect the sale prices of electricity.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Our energy trading
business is strongly affected by regulatory changes that impact the methodology used for short term energy price formation.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">We perform trading
activities through power purchase and sale agreements, mainly in the Free Market<I>, </I>through our generation and trading companies.
Agreements in the Free Market may be entered into with other generation and trading entities and mainly with Free Customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Energy trading
is affected by changes in the methodology used to calculate energy price in the short-term (<I>Pre&ccedil;o de Liquida&ccedil;&atilde;o
de Diferen&ccedil;as</I>, or PLD). PLD is currently determined by the results of optimization models of operation of the interconnected
systems used by the ONS (<I>Operador Nacional do Sistema El&eacute;trico)</I> and by CCEE. In such determination, there may be
data entry errors or errors in the model, which may lead to an unexpected change of the PLD and possible future republications
of the PLD. Thus, there is a risk for the commercial business with respect to the alteration of these models, data entry errors
and republishing of the PLD, which may cause market uncertainty, reduction of liquidity, and financial losses with unexpected price
variation. CCEE is expected to implement a new calculation model for the PLD as of January 2021, which will consider an hourly
base in the energy price.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Additionally,
any change in the energy trading rules related to the increase of restrictions for the entry of new consumers in the Free Market
may affect the expansion of our energy trading business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">On December
28, 2018, the MME enacted the Ministerial Ordinance No.&nbsp;514, lowering the minimum energy amounts that consumers may purchase
directly in the Free Market, so that as of January 1, 2020 the minimum energy amount was reduced to from an amount equal or superior
to 2,500kW to 2,000 kW. Even though this ordinance enabled more migration from the captive market to the Free Market, we cannot
predict its effect. As a Free Costumer is responsible for contracting its own consumption directly with a generation or trading
company, an increase of the number of Free Customers may increase the trading in the Free Market and consequently affect energy
prices. In parallel, distribution companies may face energy contract surpluses and have to participate in the Mechanism for Compensation
of Surpluses and Deficits (<I>Mecanismo de Compensa&ccedil;&atilde;o de Sobras e D&eacute;ficits,</I> or MCSD) to mitigate financial
losses.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Our energy trading
companies, Copel Comercializa&ccedil;&atilde;o and Copel GeT, that operate in the Free Market may decide, based on market conditions,
to operate in long and short positions and may present financial losses for certain periods. To operate in long positions means
that we buy electricity that will be delivered to us only in the future and sell it before the delivery is due, expecting the price
to go up in the short-term market. To operate in short positions means that we sell electricity that needs to be delivered</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">only in the future, but
buy it before the delivery is due expecting the price to go down in the short-term market.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">We assess the
market exposure risk of our commercialization company on a weekly basis, based on risk limits and methodology approved by the board
of directors of Copel. Our methodology for calculating the risk of market exposure was developed internally using financial market
concepts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Our management has identified a material weakness
in our internal controls over impairment of fixed assets of Copel Telecomunica&ccedil;&otilde;es and UEGA</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 36.7pt">Our management assesses the effectiveness
of our controls framework and reporting procedures in accordance with SEC rules, including the effectiveness of our internal controls
over financial reporting. This analysis adopts the criteria established in the Internal Control - Integrated Framework (2013) published
by the Committee of Sponsoring Organizations of the Treadway Commission &ndash; COSO.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 36.7pt">In the context of this assessment,
our management identified a material weakness in our 2019 internal controls over assumptions and calculation of impairment of fixed
assets of both Copel Telecomunica&ccedil;&otilde;es, a wholly-owned subsidiary of Copel, and UEGA, an entity controlled by Copel.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 36.7pt">Although we have developed plans
and actions to remedy this material weakness, we cannot assure you that there will be no other weaknesses in our internal control
in the future.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>Our affiliated companies may
not be successful in their businesses.</I></B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">There is no
assurance that our investments in affiliated companies will have the expected outcome. Our activities and financial and operational
conditions may be affected as a result of (i) regulatory, economic, environmental matters, among other issues, or (ii) corporate
disputes.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>The lack of equipment and
workforce in the appropriate timeframe may affect our business.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">We cannot assure
that the equipment and services hired from third parties will be timely delivered. If they are delivered with delay, we may incur
in additional costs and fines.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>The services and equipment
hired from third parties may not have the expected quality.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Being a mixed
capital publicly-held company, the acquisition of equipment, materials and services are subject to Paran&aacute; State Law No.
15,340/2006, Brazilian Federal Law No. 13,303/2016 and Brazilian Federal Law No. 8,666/1993, when applicable. Therefore, we are
legally obliged to engage a bidding process, which may not guarantee the best quality of services, equipment and materials.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>Our wind farms&rsquo; operations
are subject to climate factors and to uncertainties related to the speed of wind and non-compliance with minimum performance covenants
set forth in our authorization agreements may adversely impact our results.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">The authorization
agreements that govern our power generation activities in wind farms set forth certain performance covenants, which require us
to generate minimum amounts of energy on annual and four-year bases in accordance with the energy amounts sold in the correspondent
auctions. The operations of our wind farms are subject to climate factors and to uncertainties related to the speed of wind and
non-compliance with the above mentioned agreements may adversely impact our results.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>We may acquire other companies
in the electric sector or new energy concessions, as we already did in the past, which may increase our financial leverage and
adversely affect our consolidated performance. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">We constantly prospect
for businesses that are related to our corporate purpose and aligned with our strategic plan. To expand our business, we may participate
in auctions for the construction and operation of new power generation and transmission ventures, as well as invest in other companies
from the energy sector, as we have done in the past. These acquisitions can increase our financial leverage or reduce our profits.
In addition, the integration of the new businesses may not result in the synergy we expect in terms of efficiency gains and economies
of scale for our operations, which may adversely affect our operational and financial performance.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Strikes, work interruptions or other
events carried out by our employees or by the employees of our suppliers or contractors, may adversely affect our operating results
and our businesses. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">Our employees are
represented by unions. Disagreements regarding issues related to divestitures, changes to our business strategy, and reductions
in the professional staff may lead to employee reactions. Strikes, work interruptions, or other forms of protests in any of our
major suppliers or contractors or at their facilities may undermine our ability to complete relevant projects on time, negatively
impacting our results of operations, and affect our ability to achieve long-term strategic goals.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Risks Relating to the Brazilian
Electricity Sector and Other Sectors that We Operate&#9;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are uncertain as to the
renewal of certain of our generation and transmission concessions.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Under Federal
Law No. 12,783/2013, or the 2013 Concession Renewal Law, we may only renew our concessions that were in effect as of 1995 (and,
in the case of generation facilities, generation concession contracts entered into prior to 2003) for an additional 30-year period
(or an additional 20-year period in the case of thermal plants), if we agree to amend the terms of the concession contract that
is up for renewal to reflect certain new terms and conditions imposed by the 2013 Concession Renewal Law, which vary depending
on whether the concession is for generation, transmission or distribution. If we do not agree to amend the concession contract
to reflect these new conditions, the concession contract cannot be renewed and will be subject to a competitive bidding process
upon its expiration, which we might not win. If we do not renew our generation and transmission concessions or if they are renewed
under less favorable conditions, our financial condition and results of operations could be materially adversely affected. For
more information, see &ldquo;Item 4. Information on the Company&mdash;Concessions&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>The concession agreement of
our controlled company Compagas is under discussion with the granting authority.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Compagas has
entered into a concession agreement with the State of Paran&aacute;, as granting authority, pursuant to which the concession shall
expire on July 6, 2024. The purpose of this concession is to provide piped gas distribution services and other related activities,
to all segments of the consumer market, either as raw material or for the purpose of power generation or other uses made possible
by technological advances.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The gas concession
agreement is part of the so called &ldquo;bifurcated model&rdquo;, where part of the investments made by the concessionaire is
paid by the users of the public service and the remaining part is indemnified by the granting authority, the State of Paran&aacute;,
at the end of the concession.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On December
7, 2017, the State of Paran&aacute; enacted Complementary Law No. 205, setting forth a new interpretation regarding the expiration
date of the concession, leading to the understanding that the new expiration date was January 20, 2019. The management of Compagas,
its controlling shareholder and other shareholders are analyzing and questioning the effects of such law, as they understand that
these effects are not consistent with the terms set forth in the current concession agreement.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Compag&aacute;s
filed a lawsuit challenging the early termination of the concession and, on October 30, 2018, a preliminary injunction was granted,
which can be subject to an appeal by the State of Paran&aacute;. The Company is awaiting the trial of the merit of the case.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Therefore,
in the event of non-extension of the concession, even if Compagas is entitled to compensation for the investments made in the last
10 years prior to the end of the concession, the financial condition and results of operations of our controlled company may be
adversely affected. For more information see Note 2.1.1 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Our operating
results depend on prevailing hydrological conditions, which have been volatile recently. The impact of water shortages and resulting
measures taken by the government to conserve energy may have a material adverse effect on our business, financial condition and
results of operations.</I></B></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">We
are dependent on the prevailing hydrological conditions throughout Brazil and in the geographic region in which we operate. According
to data from ANEEL, approximately 64.0% of Brazil&rsquo;s installed capacity currently comes from hydroelectric generation facilities.
Hydrological conditions in our region, and Brazil in general, are frequently subject to changes because of non-cyclical deviations
in average rainfall.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">From
2012 to 2015, Brazil experienced a period of low rainfall. Poor hydrological conditions could lead the Brazilian government to
institute a rationing program, which would require that our distribution business distribute less energy to Final Customers. Our
distribution business would be adversely affected by a mandatory rationing program because its revenues are partially based on
the volume of electricity it provides through our distribution grid to Final Customers. However, a mandatory rationing program
involves a predictable decrease in energy, which would allow our distribution business to better estimate the amount of electricity
it must purchase in order to sell to Final Customers. In addition, in the context of a formal rationing program, our distribution
business would be fully compensated for the amount of energy that it purchased prior to the rationing period in excess of the amount
of energy it is allowed to distribute under the rationing program, through automatic adjustment in its energy supply contracts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">In
contrast, the Brazilian federal government in the past has reacted to poor hydrological conditions not by implementing a formal
rationing program, but rather by seeking to reduce the consumption of electricity by Final Customers by other means, for example
through general conservation campaigns to raise public awareness. The effect of these campaigns is less predictable, making it
difficult for our distribution business to accurately estimate the volume of energy it needs to purchase for sale to Final Customers.
Furthermore, in the absence of a formal rationing program, our distribution business is not compensated for the amount of energy
it had previously contracted that now exceeds the newly-depressed Final Customer demand. Even after a conservation or rationing
program ends, it may take several years for demand by Final Customers to fully recover, if at all. Deteriorating hydrological conditions
may, therefore, have a material adverse effect on our distribution business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; text-indent: 0.5in">In
2014 and 2015 the Brazilian Federal Government provided and facilitated various forms of assistance to distribution concessionaires
experiencing cash flow difficulties arising from poor hydrological conditions, which had increased their energy acquisitions costs
thereby resulting in mismatches of cash flow in the short-term. These forms of assistance included funding from the CDE Account
(as defined below), credit facilities contracted by the CCEE through the ACR Account and the new &ldquo;<I>Bandeira Tarif&aacute;ria</I>&rdquo;
system. There is no assurance that the Federal Government will continue this assistance, or that the Federal Government will continue
it on favorable terms or that it will be sufficient to cover our losses. See &ldquo;Item 4. Information on the Company&mdash;The
Brazilian Electric Power Industry&mdash;Energy Sector Regulatory Charges&mdash;CDE&rdquo; and &ldquo;Item 4. Information on the
Company&mdash;Energy Sector Regulatory Charges&mdash; Regulated Market Account&mdash;ACR Account&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">With
respect to our generation business, in order to compensate for poor hydrological conditions and to maintain adequate water levels
in reservoirs, the ONS may order the reduction of generation from hydroelectric power plants, which would be partially compensated
by increased generation by thermoelectric plants. This mechanism for replacing hydroelectric production with thermoelectric production
may not provide all of the energy we need to fulfill our obligations under existing energy supply contracts. To compensate for
this deficit, our generation business can be required to purchase energy in the Spot Market, typically at higher prices, and we
would not be able to pass on these increased costs. This mechanism impacts all generation companies in Brazil regardless of whether
the geographical region in which a specific generator is located is experiencing low rainfall, and could have a material adverse
effect on our generation business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">The
Generation Scaling Factor, or GSF, is a factor used to adjust the guaranteed power output and represents the ratio between the
total power produced by the hydroelectric plants that integrate the Energy Reallocation Mechanism (<I>Mecanismo de Realoca&ccedil;&atilde;o
de Energia</I>, or MRE) and their guaranteed power outputs. This represents, on average, the amount of energy committed to energy
generation contracts. If there are excessively low flow rates, the GSF equals to less than 1 and the hydroelectric</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">generators that contracted
their guaranteed power outputs have to incur additional costs to acquire energy in the Spot Market to fulfill their obligations.
As Brazil experienced an unusually severe drought between 2012 and 2015, its energy generation was below its expected levels.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">In
2015, the financial effects of the GSF on the generation companies were discussed. There was a broad sector debate on the effects
of, and solutions for the GSF from an administrative, regulatory, business and legal perspective. Accordingly, Law No. 13,203,
dated December 8, 2015, and ANEEL Resolution No. 684, dated December 11, 2015, established the criteria for the approval and the
conditions for the renegotiation of the hydrological risks borne by certain hydroelectric generation companies. Pursuant to such
new rules, the generators could share their hydrologic risks with consumers, through the payment of a &ldquo;risk premium&rdquo;.
Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o and Elejor filed a request for the renegotiation of the hydrological risk of HPPs
Mau&aacute;, Foz do Areia, Santa Clara and Fund&atilde;o, which was consented through ANEEL Decisions No. 84/2016 and 43/2016,
respectively. Subsequently, in 2017 Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o filed another request for the renegotiation
of the hydrological risk of HPPs Cavernoso II e Baixo Igua&ccedil;u, which was consented through ANEEL Decision No. 4,101/2017,
and, in 2018, ANEEL approved the renegotiation of the hydrological risk of HPP Col&iacute;der through ANEEL Decision No. 2,889/2018.
For more information, see Note 14.1 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">In
addition, in an extreme scenario, given the increased presence of thermal generation in the national electric matrix, if a shortage
of natural gas were to occur, this would increase the general demand for hydroelectric energy in the market and therefore increase
the risk that a rationing program would be instated.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">Regarding
our energy trading business, the effect of volatility in hydrological conditions is the increase of the variation of energy price,
which in turn increases the Spot Market volatility, thus affecting our operating results.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Spot price (PLD)
is determined by mathematical models that consider the prevalence of hydroelectric plants in the Brazilian generation context,
hydrological conditions, energy demand, fuel prices, deficit costs, the entry of new projects and the availability of generation
and transmission equipment, and aim to find an optimal balance between the present benefit of water usage and the future benefit
of its storage, measured in terms of the expected economy of the fuels in thermoelectric plants. The energy average prices in the
short term (&quot;spot&quot;) are calculated by CCEE every week and are set for each region.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">When there is
great availability of hydrological resources, the spot price tends to remain at lower levels, which may not be enough to (i) cover
the generation costs of this very same energy (when related to our generation business) and (ii) cover the cost of the power purchase
and sale agreement in our energy trading business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Conversely,
if hydrological availability is affected, spot prices tend to increase significantly, in addition to occasionally impacting the
GSF, which may adversely impact our costs of energy purchases, as the price set forth in power purchase and sale agreements may
not be sufficient.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="background-color: white"><B><I>The
construction, expansion and operation of our generation, transmission and distribution facilities and equipment involve significant
risks that may cause the loss of revenues or increase of expenses.</I></B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">The
construction, expansion and operation of our generation, transmission and distribution of electricity facilities and equipment
involve many risks, including the </FONT>inability to obtain required governmental permits and approvals, <FONT STYLE="background-color: white">supply
interruptions, strikes, climate and hydrological interference, unexpected environmental and engineering problems, increase in losses
of electricity (including technical and commercial losses), the unavailability of adequate financing and </FONT>the unavailability
of equipment<FONT STYLE="background-color: white">.</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">In
the event we experience these or other problems, we might not be able to generate, transmit and distribute electricity in favorable
quantities and on favorable terms, which may adversely affect our financial condition and the results of our operations.</FONT></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>ANEEL could penalize us for
failing to comply with the terms of our concessions or with applicable laws and regulations, and we may not recover the full value
of our investment in the event that any of our concessions are terminated.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our concessions
are for terms of 20 to 35 years and may be extended if certain conditions are met. In the event that we fail to comply with any
term of our concessions or applicable law or regulation, ANEEL may impose penalties on us, which may include warnings, the imposition
of potentially substantial fines (in some instances, up to 2% of our revenues from concessions in the twelve-month period preceding
any infraction notice or, in case of independent production, the estimated amount of energy produced in the same period) and restrictions
on our operations, among others. ANEEL may also terminate our concessions prior to the expiration of their terms if we fail to
comply with their provisions or if they determine that terminating our concessions would be in the public interest, in both cases
through an expropriation proceeding. In particular, our renewed distribution concession agreement contains both quality and financial
metrics that become more restrictive over time, and that we must meet to ensure that our distribution concession agreement is not
terminated. If ANEEL terminates any of our concessions before its expiration, we would not be able to operate the segment(s) of
our business that had been authorized by the concession. Furthermore, any compensation that we may receive from the federal government
for the unamortized portion of our investment may not be sufficient for us to recover the full value of our investment. The early
termination or non-renewal of any of our concessions or the imposition of severe fines or penalties by ANEEL could have a material
adverse effect on our financial condition and results of operations. See &ldquo;Item 4. Information on the Company&mdash;The Brazilian
Electric Power Industry&mdash;Concessions&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Our operating
revenues could be adversely affected if ANEEL makes decisions relating to our tariffs that are unfavorable to us.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The tariffs
that we charge for sales of electricity to Captive Customers are determined pursuant to a concession agreement with the Brazilian
government through ANEEL. ANEEL has substantial discretion to establish the tariff rates we charge our customers, which are determined
pursuant to a concession agreement with ANEEL and in accordance with ANEEL&rsquo;s regulatory decision-making authority.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">It is also
incumbent upon ANEEL to determine the revenues to be charged by the generating companies, holding assets with renewed concession
agreements or resulting from concessions auctions (both cases in accordance with 2013 Concession Renewal Law). The Annual Generation
Revenue (&ldquo;RAG&rdquo;) is the amount which the generating companies are entitled to in accordance with the physical guarantee
of a hydroelectric plant that is allocated to the regulated/quota market. RAG is calculated taking into account the regulatory
costs of operation, maintenance, administration, compensation and amortization of the hydroelectric plant, being adjusted annually,
in addition to being reviewed every 5 years.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our distribution
concession agreement and Brazilian law establish a price cap mechanism that permits three types of tariff adjustments: (i) annual
adjustment (<I>reajuste anual</I>), (ii) periodic revision (<I>revis&atilde;o peri&oacute;dica</I>), and (iii) extraordinary revision
(<I>revis&atilde;o extraordin&aacute;ria</I>). We are entitled to apply each year for the annual adjustment, which is designed
to offset some effects of inflation on tariffs and pass through to customers certain changes in our cost structure that are beyond
our control, such as the cost of electricity we purchase from certain sources and certain other regulatory charges, including charges
for the use of transmission facilities. In addition, ANEEL carries out a periodic revision every five years that is aimed at identifying
variations in our costs as well as setting a factor based on our operational efficiency that will be applied against the index
of our ongoing annual tariff revision, the effect of which is to ensure that we share the benefits of improved economies of scale
with our customers. At any time, we may also request an extraordinary revision of our tariffs in the case of a significant and
unexpected event, including if such an event significantly alters our cost structure.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As is the case
for distribution companies, the regulation mechanisms for transmission companies are the tariff review, which occurs every five
years, and the annual tariff readjustment, which is a</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">monetary adjustment of the tariffs charged.
These mechanisms depend on the concession agreement of each company. At the time of the tariff review, the objective of ANEEL is
to recalculate the costs for the efficient operation and maintenance of the system managed by the transmission company.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We cannot assure
you that ANEEL will establish tariffs at rates that are favorable to us. To the extent that any of our requests for adjustments
are not granted by ANEEL in a timely manner, our financial condition and results of operations may be adversely affected. In addition,
ANEEL&rsquo;s decisions relating to our tariffs may be contested by public authorities or by our customers. Administrative and
judicial decisions resulting from these challenges may modify ANEEL&rsquo;s decisions in a manner that is unfavorable to us, which
may adversely affect our financial condition and results of operations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are subject to comprehensive
regulation of our business, which fundamentally affects our financial performance.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our business
is subject to extensive regulation by various Brazilian legal and regulatory authorities, particularly the MME and ANEEL, which

regulate and oversee various aspects of our business and establish our tariffs. Changes to the laws and regulations governing our
operations, which have occurred in the past, could adversely affect our financial condition and results of operations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For example,
the Brazilian government has taken action to reduce tariffs in recent years. In order to substantially reduce the price paid by
Final Customers for electricity, the Brazilian government enacted the 2013 Concession Renewal Law, which significantly changed
the conditions under which concessionaires are able to renew concession contracts. Under the 2013 Concession Renewal Law, most
generation, transmission and distribution concessionaires may be renewed at the request of the concessionaire for an additional
period of 30 years, but only if the concessionaire agrees to amend the terms of the concession contract to reflect certain new
terms and conditions. For more information, see &ldquo;Item 4. Information on the Company&mdash;Concessions&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If any further
regulations or new laws are passed by the Brazilian government to lower electricity prices, these new laws and regulations could
have a material adverse effect on our results of operations. If we are required to conduct our business in a manner substantially
different from our current operations as a result of regulatory changes, our results of operations and financial condition may
be adversely affected.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>The regulatory framework
under which we operate is subject to legal challenge.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Brazilian
government implemented fundamental changes in the regulation of the electric power industry under the 2004 legislation known as
the New Industry Model Law <I>(Lei do Novo Modelo do Setor El&eacute;trico</I>). Challenges to the constitutionality of New Industry
Model Law are still pending before the Brazilian Supreme Court. If all or part of this statute were held to be unconstitutional,
it would have uncertain consequences for the validity of existing regulation and the further development of the regulatory framework.
The outcome of the legal proceedings is difficult to predict, but they could have an adverse impact on the entire energy sector,
including our business and results of operations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Certain customers in our
distribution concession area may cease to purchase energy from our distribution business.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Our distribution
business generates a large portion of its revenues by selling energy that it purchases from generation companies. Large electricity
customers within the geographic area of our concession that meet certain regulatory requirements may qualify as free customers
(&ldquo;Free Customers&rdquo;). A Free Customer in our distribution concession area is entitled to purchase energy directly from
generation and energy trading companies rather than through our distribution business, in which case that Free Customer would cease
to pay our distribution business for that energy that we previously supplied. Therefore, if the number of Free Customers within
the geographic area of our concession increases and to the extent these Free Customers purchase energy from sources other than
our generation and trading companies, our revenues and results of operations would be adversely affected. Furthermore, prices in
the</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Free Market have recently been lower than
those in the regulated market in the past years, which has been leading to an increase in the number of Free Customers within the
geographic area of our concession.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In addition,
ANEEL has recently improved regulations related to micro and mini distributed generation, which has been facilitating customers
to purchase or to lease power generation equipment, especially solar photovoltaic modules, to produce energy for their own consumption.
Therefore, if the number of customers with micro and mini distributed generation within the geographic area of our concession increases,
our revenues and results of operations could also be adversely affected.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We generate a portion of
our operating revenues from Free Customers who may seek other energy suppliers upon the expiration of their contracts with us.
</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">As
of December 31, 2019, we had 425 Free Customers, representing approximately 5.7% of our consolidated operating revenues and approximately
13.8% of the total volume of electricity sold by us.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.3pt; margin-right: 0; margin-left: 0">Regarding
our energy trading company, as of December 31, 2019, our energy trading company had 375 Free Customers, representing approximately
8.3% of our consolidated operating revenues and approximately 5.5% of the total volume of electricity we sold in 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 35.3pt">Without the
addition of new contracts in 2019, Copel GeT had 50 Free Costumers on December 31, 2019. Approximately 17.67% of the megawatts-hours
sold under contracts to such customers by Copel GeT expired in 2019. These customers represented approximately 4.88% of the total
volume of electricity we sold in 2019, and approximately 4.09% of total net operating revenue from energy sales for that year.
Our contracts with Free Customers are typically for periods ranging between two years and five years in our generation business.
There can be no assurance that Free Customers will enter into contracts or extend their current contracts to purchase energy from
us.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 35.3pt">Additionally,
it is possible that our large industrial clients could be authorized by ANEEL to generate electric energy for their own consumption
or sale to other parties, in which case they may obtain an authorization or concession for the generation of electric power in
a given area, which could adversely affect our results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may be forced to purchase or sell
energy in the Spot Market at higher or lower prices if our forecasts for energy demand are not accurate, if there is a shortage
of energy supply available in the regulated market or if energy we contract is not delivered, and we may not be entitled to pass
on any increased costs or incurred losses to our Final Customers in a timely manner, or at all.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Under
the New Industry Model Law, electric energy distributors, including us, must contract, through public bids conducted by ANEEL,
100% of the forecasted electric energy demand for their respective distribution concession areas. The auctions in which the distributors
are allowed to purchase energy are held up to seven years prior to the actual delivery of electric energy. We cannot guarantee
that our forecasts for energy demand in our distribution concession area will be accurate. If our forecasts fall short of actual
electricity demand, or if we are unable to purchase energy through the regulated market due to lack of energy supply in the market,
or if a generation company fails to deliver energy that was previously contracted, we may be forced to make up for the shortfall
by entering into short-term agreements to purchase electricity in the Spot Market where we may pay significantly more for energy
without being able to pass on these increased costs to our Final Customers. In addition, if we underestimate our distribution energy
needs, we may be subject to penalties imposed by the CCEE. Moreover, if our forecasts surpass actual demand by more than the allowed
margin (105% of actual demand), including where demand is depressed due to government campaigns in response to poor hydrological
conditions or due to reduced economic activity, we will not be able to pass on to our Final Customers the cost of the excess energy
that we acquire.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
2016, as a consequence of the country&rsquo;s economic crisis and the increase in the number of Free Customers who were attracted
by lower prices in the Free Market, several distribution companies, including Copel Distribui&ccedil;&atilde;o, were contracted
above 105% of their actual demand. As a result, those</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">companies may incur losses
due to sale of the excess energy at lower prices in the Spot Market. On the other hand, facing this same scenario in 2017, Copel
Distribui&ccedil;&atilde;o and other distribution companies sold the surplus energy at a higher price in the Spot Market, resulting
in the possibility of earnings. On August 28, 2017, Brazilian Decree No. 9,143/2017 recognized the involuntary nature of energy
surplus arising from the migration of consumers to the Free Market. However, we cannot guarantee the results of such rules and
their impact on our future operations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
2018, purchases made by Copel Distribui&ccedil;&atilde;o did not exceed the regulatory margin of 105% of the forecasted energy
amount. Even though Copel Distribui&ccedil;&atilde;o plans on adopting the same strategies onwards, we cannot ensure you that it
will be able to comply with the regulatory requirements in the future.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
2019, although Copel Distribui&ccedil;&atilde;o maximized its efforts to manage the surplus of contracting energy, the supply and
demand scenarios point out to the occurrence of contracting above the regulatory limits, in the order of 105.8%. However, considering
that this situation arises mainly from the migration of consumers to the Free Market, it is considered that the distributor maintains
the guarantee of energy surplus tariff&rsquo;s pass-through, since this factor is subject to the recognition of involuntary over-contracting.
Although the regulator does not recognize involuntary exposure for amounts above the regulatory limit, this surplus is not a loss
for the distributor, since in 2019 the spot price was above the average purchase price of energy.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are subject to a counterparty&rsquo;s
credit risk, and, in case the purchasers or sellers that are parties to power purchase and sale agreements entered into with Copel
Comercializa&ccedil;&atilde;o default on their obligations, we may have to sell or purchase energy at a different base price. </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">Copel Comercializa&ccedil;&atilde;o
is subject to a counterparty&rsquo;s credit risk. When Copel Comercializa&ccedil;&atilde;o sells energy, the counterparties to
power purchase agreements may default on their contractual obligations, which may cause Copel Comercializa&ccedil;&atilde;o to
sell energy at a different base price. In cases where Copel purchases energy, whether from energy generation projects, in operation
or under construction, or even from energy trading, the selling counterparties may also default on the relevant contracts, and,
consequently, Copel Comercializa&ccedil;&atilde;o may have to buy energy at a different base price and be subject to regulatory
penalties imposed by CCEE due to insufficient contractual guarantees. Even though the Company performs credit analyses in accordance
with market standards and requires its counterparties to provide guarantees in connection with the power purchase and sale agreements,
we cannot guarantee that our counterparties will not fail to comply with their payment obligation or with their obligation to deliver
energy to Copel, as the case may be, which may adversely affect our results.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>We are
subject to the risk of exchange rate variation if we start to perform energy import business, as well as if we perform business
involving natural gas </I></B></P>

<P STYLE="font: 12pt inherit,serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36.7pt; background-color: white">Our
subsidiary Copel Comercializa&ccedil;&atilde;o obtained authorization from the Ministry of Mines and Energy to import energy from
neighboring countries, Argentina and Uruguay, and if we start doing business in this regard, we will be subject to the risk of
exchange rate fluctuation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">This subsidiary
was also authorized by the National Agency of Petroleum, Natural Gas and Biofuels to operate in the sale of natural gas within
Brazil. Although the natural gas business still has an incipient market in Brazil, if we do business in this area, we will be subject
to the risk of exchange rate variation, considering that these transactions are carried out in foreign currencies.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are subject to unrealized
losses or net gains arising out from the mark-to-market of the purchase and sale of energy contracts, which may expose the Company
to the risk of future energy prices</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">Our subsidiary
Copel Comercializa&ccedil;&atilde;o negotiates energy purchase and sale transactions, and part of its agreements are classified
as derivative financial instruments measured at fair value through its results. Unrealized net losses or gains resulting from the
mark-to-market of these contracts (difference</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">between contracted prices and market prices)
are recognized in the results of the fiscal year. This activity may expose the Company to the risk of future energy prices.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Our equipment, facilities
and operations are subject to numerous environmental and health regulations, which may become more stringent in the future and
may result in increased liabilities and increased capital expenditures.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our distribution,
transmission and generation activities are subject to comprehensive federal, state and local legislation, as well as supervision
by Brazilian governmental agencies that are responsible for the implementation of environmental and health laws and policies. These
agencies could take enforcement action against us for our failure to comply with their regulations and with requirements established
for the maintenance of our environmental licenses. These actions could result in, among other things, the imposition of fines,
embargoes and revocation of licenses, which could have a material adverse effect on our financial condition and results of operations.
It is also possible that enhanced environmental and health regulations will force us to allocate capital towards compliance, and
consequently, divert funds away from planned investments. Such a diversion could have a material adverse effect on our financial
condition and results of operations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="background-color: white"><B><I>We
are strictly liable for any damages resulting from inadequate provision of electricity services and our insurance policies may
not fully cover such damages. </I></B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 35.3pt">We are strictly
liable under Brazilian law for damages resulting from the inadequate provision of electricity distribution services. In addition,
our distribution, transmission and generation utilities may be held liable for damages caused to others as a result of interruptions
or disturbances arising from the Brazilian generation, transmission or distribution systems, whenever these interruptions or disturbances
are not attributed to an identifiable member of the National Electric System Operator, the <I>Operador Nacional do Sistema El&eacute;trico</I>
(&ldquo;ONS&rdquo;). We cannot assure you that our insurance policies will fully cover damages resulting from inadequate rendering
of electricity services, which may have an adverse effect on us.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are the controlling shareholders
of a company that operates a gas distribution business (Compagas) and we are consequently exposed to risks inherent to this sector.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">We control
a business in the gas distribution sector, which is operated by Companhia Paranaense de Gas &ndash; Compagas. This company is entitled
to exclusive rights with respect to the supply of piped gas in the State of Paran&aacute;. The clients of this business are thermoelectric
plants, cogeneration plants, gas stations, other companies and residences.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">Businesses
in the gas distribution sector are subject to a broad set of risks inherent to its operation, including among the main ones:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">&bull; Regulatory
instability,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">&bull; Shortage
of natural gas,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">&bull; Depending
on a single supplier in Brazil,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">&bull; Capacity
of financing expansion,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">&bull; Operational
failures and accidents in distribution,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">&bull; Performance
of outsourced service providers,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">&bull; Alternative
energy sources,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">&bull; Quality
in service.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">As a result
of these uncertainties, there is no guarantee that the purposes of our gas distribution business will be achieved, which may have
an adverse effect on our results of operations and our business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>We are the
controlling shareholders of a company that operates a telecommunications business (Copel Telecomunica&ccedil;&otilde;es S.A.) and
we are consequently exposed to the risks inherent to this sector.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">We
control a business in the telecommunications sector under an authorization granted by the National Telecommunications Agency (<I>Ag&ecirc;ncia
Nacional de Telecomunica&ccedil;&otilde;es </I>&ndash; ANATEL). This business provides telecommunications services through the
use of fiber optics. It also provides a number of telecommunications services to other companies of the Copel group.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">Businesses
in the telecommunications sector are subject to a broad set of risks inherent to its operation, such as:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Regulatory instability,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Increase in competition,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Technological changes,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Capacity of financing our expansion,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Failures in technological systems and information security,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Performance of outsourced service providers,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Exchange rate fluctuations,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Variation in operating costs,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Operational failures,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">&bull;
Quality in service.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">As a result
of these uncertainties, there is no guarantee that the purposes of our telecommunications business will be achieved, which may
have an adverse effect on our results of operations and our business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>If it is not possible to
implement our proposal to divest control of Copel Telecomunica&ccedil;&otilde;es S.A., we will need to reevaluate our strategy
in the telecommunications sector</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.4pt; margin-right: 0; margin-left: 0">Considering
that the process of potential divestment in the control of the subsidiary Copel Telecomunica&ccedil;&otilde;es SA is in progress,
as approved by the Board of Directors, this process may not be materialized, either due to the lack of interested parties, due
to judicial decisions or restrictions imposed by regulatory bodies or other governmental entities. Failure to complete such sale
may force us to reevaluate our divestment strategy in the telecommunications sector.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>We are uncertain as to the
outcome of the administrative proceeding brought by ANATEL against Sercomtel S.A. Telecomunica&ccedil;&otilde;es to terminate concessions
and authorizations previously awarded to this company and also on the success of a new privatization attempt, in a way that we
may be adversely affected considering the financial capacity of that company</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">We own 45%
of the stock of Sercomtel Telecomunica&ccedil;&otilde;es S.A. (&ldquo;Sercomtel&rdquo;). Sercomtel holds a concession to provide
fixed telephony services and an authorization to provide mobile services in the</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">municipalities of Londrina
and Tamarana, located in the State of Paran&aacute;. In addition, Sercomtel has two (2) other authorizations from ANATEL that allow
it to provide fixed telephony and broadband internet services in all other municipalities of the State of Paran&aacute;. Currently,
Sercomtel operates with its own network in fifteen (15) municipalities of the State of Paran&aacute;, providing voice services
and fixed broadband.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">In September
2017, ANATEL determined that Sercomtel was not in compliance with certain financial indicators set forth by the agency in connection
with the concessions granted to Sercomtel and required for the company&rsquo;s operations to continue. As a consequence of this
determination, ANATEL brought an administrative proceeding against Sercomtel to assess whether the concession and the authorizations
granted to this company should be terminated. In March 2019, ANATEL decided to suspend the above mentioned proceeding for a 120-day
period, so that Sercomtel could present to the agency alternative plans for meeting the relevant regulatory indicators.</P>

<P STYLE="font: 9pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt"><FONT STYLE="font-size: 10pt">In
June 2019, the municipal legislature of Londrina approved the sale of the stake held by the Londrina City Hall as the controlling
shareholder of Sercomtel (Municipal Law no 12.871, dated June 12, 2019). In November 2019, the City Hall published the bidding
notice for the privatization process of Sercomtel, which provides for the assignment of the City Hall&rsquo;s preemptive right
to subscribe shares in a future capital increase of Sercomtel. This process can result in the dilution of the stake held by the
City Hall and Copel in Sercomtel. However, a bid for the sale of such preemptive rights was scheduled for February 5, 2020, and
no participants attended. We understand that alternative procedures are under consideration by Sercomtel&rsquo;s controlling shareholder
for the company. Considering the uncertainties regarding company's financial capacity to maintain the normality of its operations,
including commitments to customers and suppliers, we may be adversely affected if Sercomtel's services are impaired, even if partially</FONT>.
<FONT STYLE="font-size: 10pt">In case a new attempt for the privatization of Sercomtel is not successful, or if ANATEL determines
the termination and forfeiture of the licenses held by Sercomtel, we can be adversely affected in view of our stake in Sercomtel&rsquo;s
capital stock. </FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>We cannot assure the speed
of our innovation capacity and our responses in view of the changes the energy sector has been going through as a result of technology
advances. </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">The electric
energy sector has been going through changes driven by (i) the decentralization of the power generation systems; (ii) advances
in energy storage technologies; (iii) dissemination of digital technologies that improve the efficiency of energy generation, transmission
and consumption; (iv) increase of renewable energy sources, such as wind and solar energy; and (v) a tendency of reducing carbon
footprints in the energy system, as part of the global efforts to mitigate the effects of climate change. These changes present
many challenges and we may not be able to keep up with the effects of the increasing adoption of digital technologies in the electric
energy sector and the significant potential of new technology solutions (both with respect to the improvement of processes and
services provided to consumers and with respect to the development of new products that may lead to higher productivity gains,
more affordable prices, higher competition and the creation of new markets). Investments in research and development may contribute
to mitigate the risks related to the transformations of the energy sector and create new opportunities.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Risks Relating to Brazil </B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>The Brazilian Government has
significant influence over the Brazilian economy. Brazilian economic and political conditions&mdash; and investor perception of
these conditions&mdash; have a direct impact on our business, financial condition, results of operation and prospects.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Historically,
the country&rsquo;s political situation has influenced the performance of the Brazilian economy, and political crises have affected
the confidence of investors and the general public, which resulted in economic deceleration, the downgrading of credit ratings
of the Brazilian government and Brazilian issuers, and heightened volatility in the securities issued abroad by Brazilian companies.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Additionally,
the Brazilian government has exercised, and continues to exercise, significant influence over the Brazilian economy and often changes
monetary, credit, exchange and other policies to influence Brazil&rsquo;s economy. Our business, financial condition, results of
operations and prospects may be</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">adversely affected by changes
in government policies, as well as other factors including, without limitation:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">&bull; fluctuations
in the exchange rate;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">&bull; inflation;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">&bull; changes in
interest rates;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">&bull; exchange control
policies;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">&bull; fiscal policy
and changes in tax laws;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-right: 0; margin-left: 0.5in">&bull; other political, diplomatic,
social and economic developments that may affect Brazil or the international markets;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">&bull; controls on
capital flows; and/or</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-right: 0; margin-left: 0.5in">&bull; limits on foreign trade.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
the last few years, Brazil faced a mild economic growth, adverse fiscal developments and political instability. Brazilian GDP grew
by 1,1% in 2019, grew by 1.1% in 2018 and grew by 1.3% in 2017. Unemployment rate was 11.9% in 2019, 11.6% in 2018 and 12.7% in
2017. Inflation, as reported by the consumer price index (IPCA), was 4.31% in 2019, 3.75% in 2018 and 2.95% in 2017. The Brazilian
Central Bank&rsquo;s base interest rate (SELIC) was 4.5% on December 31, 2019, 6.5% on December 31, 2018 and 7.00% on December
31, 2017. Future economic, social and political developments in Brazil may impair our business, financial condition or results
of operations, or cause the market value of our securities to decline.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Changes
in, or uncertainties regarding the implementation of, the policies above, might generate or contribute to uncertainties in the
Brazilian economy. This would increase the volatility of the domestic capital market and the value of Brazilian securities traded
abroad, and adversely affect our business, results of operations and financial condition.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Moreover, taking
into account the Brazilian presidential system of government, and the considerable influence of the executive power, it is not
possible to predict whether the present government or any successive governments will have an adverse effect on the Brazilian economy,
and consequently on our business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>The effects of the coronavirus
(COVID-19)outbreak and the strong expectation of lower growth, zero growth, or even a recession in some economies, including the
Brazilian Economy, may negatively affect our operations and results </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
performance of the Brazilian economy may be directly affected by lower or zero-level worldwide economic growth or an economic recession
caused by the coronavirus (COVID-19) pandemic. The results of Copel&rsquo;s operations are directly related to the performance
of the Brazilian economy.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
March 24, 2020, ANEEL issued ANEEL Resolution No. 878 establishing measures to preserve public electricity distribution services
during the coronavirus (COVID-19) pandemic. These measures include, inter alia, ANEEL prohibitions on suspension of electricity
supply by distribution companies due to lack of payment with respect to specific categories of services including (i) essential
services and activities, (ii) limited autonomy equipment, (iii) low-income residencies, and (iv) locations with no operational
collection posts.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
Federal Government also enacted a number of measures in response to the coronavirus (COVID-19) pandemic, including but not limited
to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/107% Georgia, Times, Serif; margin-top: 5pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provisional Measure No. 950/2020, which
provides for temporary emergency measures for the electricity sector, including (i) establishing a discount of 100% for low-income
residential consumers with electricity consumption below or equal to 220 kWh/month for the period from April 1, 2020 to June 30,
2020, and (ii) charging a tariff to revert to electricity distributors. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 5pt 0 12pt 1in; text-align: justify">Provisional Measure No.
950/2020 does not apply nor is it expected to apply to free market energy services contracts. Copel may suffer an impact on collections
due to reductions in contracted volumes, or the postponement of the expiration of customers' electricity bills.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/107% Georgia, Times, Serif; margin-top: 5pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provisional Measures No. 927/2020 which
provides for emergency labor and public health related measures; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provisional Measures No. 936/2020 which
institutes the Emergency Program for Employment and Income Maintenance and provides for additional emergency labor and public health
related measures. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">States
throughout Brazil have also imposed operational impediments (both commercial and industrial) that directly impact Copel&rsquo;s
operations. Particularly with respect to the State of Paran&aacute;, on April 23, 2020, the State government enacted Law No. 20,187/2020
prohibiting providers from cutting power to (i) low-income families, (ii) costumers of age 60 and above or that have been diagnosed
with coronavirus (COVID-19) or other serious or infectious diseases or that have disabilities; (iii) informal workers; and (iv)
entrepreneurs classified as micro and small companies or individual micro-entrepreneurs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">With
regards to the captive distribution market, Copel may experience in the near term (i) a significant reduction in revenue and collection
from energy supply chains, (ii) defaults of large high voltage customers, and (iii) defaults of commercial class clients. In the
medium term, Copel negative impacts may extend to other customer classes, especially residential ones.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">A
possible increase in payment defaults by residential consumers, coupled with the decrease in collection and the standstill of several
commercial and industrial activities resulting from social isolation measures can adversely affect the financial and economic results
involving the activities of the electricity sector, mainly the electricity distributors. Eventually, with the decrease in energy
consumption, the Company may be in a position above the permitted regulatory limit for overcontracting electricity.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Copel
has followed the load projections issued by official bodies in the electricity sector, which already show signs of retraction in
2020, strongly impacted by the drop in consumption in the commercial and industrial segments. This fall has caused notifications
by energy buyers, under the perspective and allegation of unforeseeable circumstances and force majeure generated by the coronavirus
(COVID-19) pandemic, requiring a reduction in the amounts of energy contracts and/or installments of defaulted bills.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Both
the projections of PLD and GSF for the remainder of 2020 already show a significant decrease in light of the coronavirus (COVID-19)
pandemic. Adverse impacts of the coronavirus (COVID-19) pandemic can also be felt on the implementation of generation and transmission
projects, or on the availability of existing assets resulting from local actions, preventing access to facilities or problems with
suppliers in the sector, also affected by the coronavirus (COVID-19) pandemic.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">To
the extent the government does not adopt a joint solution for the energy sector as a means to control or remove a systemic risk,
the Company may suffer, among other impacts, cash damages, decreases in its profitability and the impossibility of performing certain
operational activities.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
Brazilian government may propose or enact either temporary or permanent changes to its tax policies in 2020. We are continuously
assessing the impact of any new proposed changes on our applicable tax rate and planning and will continue to monitor any changes
and their related impact on us.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
Company has established a Contingency Committee in light of the coronavirus (COVID-19) pandemic with the objective of monitoring
and mitigating current and futures impacts and consequences in the Company&rsquo;s activities. The Contingency Committee has four
main focus objectives: (i) people&rsquo;s safety, (ii) continuation of essential activities of the Company, (iii) monitoring guidelines
and requirements of regulatory bodies, and (iv) preservation of adequate financial conditions to support the crisis. The Company
has also continuously been (A) monitoring the impacts of the pandemic on (i) its contracts and (ii) the liquidity of the energy
market and its short-term pricing, as well as (B) involved and negotiating with the relevant authorities for the implementation
of guidelines that guarantee the maintenance of the economic and financial sustainability of Brazil&rsquo;s electricity power generation,
transmission, commercialization and distribution chain.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Fluctuations in the value
of the Brazilian real against foreign currencies may result in uncertainty in the Brazilian economy and the Brazilian securities
market, which could have a material adverse effect on our net income and cash flow.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In recent years,
the Brazilian <I>real </I>has fluctuated in value against foreign currencies, and the value of the <I>real </I>may rise or decline
substantially from current levels. Over the course of 2015, the value of the Brazilian <I>real</I> declined more than 48% against
the U.S. Dollar. In contrast, in the course of 2016, the Brazilian real appreciated 16.5% against the U.S. Dollar, following a
year of intense volatility. In 2017, the Brazilian real was subject to relative stability. As of December 31, 2019, the <I>real</I>
vs. U.S. dollar exchange rate recorded was R$4.03 to US$1.00, depreciating 4.0% against the U.S. Dollar, compared to the exchange
rate recorded on December 31, 2018. Depreciation of the <I>real </I>increases the cost of servicing our foreign currency-denominated
debt and the cost of purchasing electricity from the Itaipu &ndash; a hydroelectric facility which is one of our major suppliers
and adjusts its electricity prices based in part on its U.S. dollar costs. Depreciation of the <I>real </I>also creates additional
inflationary pressure in Brazil that may negatively affect us. Indeed, depreciation generally curtails access to international
capital markets and may prompt government intervention. It also reduces the U.S. dollar value of our dividends and the U.S. dollar
equivalent of the market price of our common shares and the ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Inflation and governmental
measures to curb inflation may contribute to economic uncertainty in Brazil, and could reduce our margins and the market price
of the Class B Shares and ADSs.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36.7pt">Brazil has in the
past experienced extremely high rates of inflation. More recently, Brazil&rsquo;s annual rates of inflation, measured in accordance
with the variation of the <I>&Iacute;ndice Geral de Pre&ccedil;os - Disponibilidade Interna</I> (&ldquo;IGP-DI&rdquo;) index, were
1.75% for the three-month period ended March 31, 2020, 7.7% in the year 2019, 7.1% in the year 2018, (0.4)% in the year 2017 and
7.2% in 2016. The Brazilian government has in the past taken measures to combat inflation, such as raising the basic Selic interest
rate to elevated levels, and public speculation about possible future government actions has had significant negative effects on
the Brazilian economy. Although our concession contracts provide for annual adjustments based on inflation indexes, if Brazil experiences
substantial inflation in the future, and the Brazilian government adopts inflation control policies similar to those adopted in
the past, our costs may increase faster than our revenues, our operating and net margins may decrease and, if investor confidence
lags, the price of the Class B Shares and ADSs may fall. Inflationary pressures may also curtail our ability to access foreign
financial markets and could lead to further government intervention in the economy, including the introduction of government policies
that may adversely affect the overall performance of the Brazilian economy.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Allegations
of political corruption against the Brazilian federal government and the Brazilian legislative branch could create economic and
political instability.</I></B></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">Currently,
several former and current members of the Brazilian executive and legislative branches of government are being investigated as
a result of allegations of unethical and illegal conduct identified by the Operation Car Wash (<I>Opera&ccedil;&atilde;o Lava-Jato</I>)
being conducted by the Office of the Brazilian Federal Prosecutor, and a number of politicians and businessmen have been arrested.
The potential outcome of these investigations is unknown, but they have already had an adverse impact on the image and reputation
of the investigated companies, in addition to adversely impacting general market perception of the Brazilian economy, including
our business, financial condition and results of operations, as well as the trading price of our common shares and ADSs. Moreover,
the conclusion of these proceedings or further allegations of illicit conduct could have additional adverse effects on the Brazilian
economy. We cannot predict whether such allegations will lead to further instability or whether new allegations against key Brazilian
government officials will arise in the future. In addition, we cannot predict the outcome of any such allegations and their effect
on the Brazilian economy.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Changes in
Brazilian tax policies may have an adverse effect on us and our shareholders.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">The
Brazilian government has in the past changed its tax policies in ways that affect the electricity sector, and it may do so again
in the future. These changes include increases in the tax rates affecting energy companies and, occasionally, the collection of
temporary taxes related to specific governmental purposes. If we are unable to adjust our tariffs accordingly, we may be adversely
affected.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">There
are also bills under discussion at the National Congress of Brazil that may change the way in which taxes are collected in Brazil,
including the collection of income tax on dividends, which may adversely affect our shareholders.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">In
2020, in response to the global spread of the coronavirus (COVID-19) virus and the resulting disruptions to financials markets
and business operations, the Brazilian government has proposed or enacted changes to its tax policies that include both temporary
and permanent changes. The impact of these new rules on us and on our effective tax rate and tax planning is not yet clear.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Negative developments
in other national economies, especially those in developing countries, may negatively impact foreign investment in Brazil and the
country&rsquo;s economic growth.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 38.5pt">International
investors generally consider Brazil to be an emerging market. Historically, adverse developments in the economies of emerging markets
have resulted in investors&rsquo; perception of greater risk from investments in such markets. Such perceptions regarding emerging
market countries have significantly affected the market value of securities of Brazilian issuers. Furthermore, although economic
conditions are different in each country, investors&rsquo; reactions to developments in one country can impact the prices of securities
in other countries, including those in Brazil, and this may diminish investors&rsquo; interest in securities of Brazilian issuers,
including ours.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Risks Relating to the Class
B Shares and ADSs</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>As a holder of ADSs, you
will generally not have voting rights at our shareholders&rsquo; meetings.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In accordance
with Brazilian Corporate Law and our bylaws, holders of the Class B Shares, and thus of the ADSs, are not entitled to vote at our
shareholders&rsquo; meetings except in limited circumstances. That means, among other things, that you, as a holder of the ADSs,
are not entitled to vote on corporate transactions, including any proposed merger.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In addition,
in the limited circumstances where the holders of Class B Shares are entitled to vote, holders may exercise voting rights with
respect to the Class B Shares represented by ADSs only in accordance with the provisions of the deposit agreement relating to the
ADSs. There are no provisions under Brazilian Corporate Law or under our bylaws that limit ADS holders&rsquo; ability to exercise
their voting rights through the Depositary with respect to the underlying Class B Shares. However, the procedural steps involved
create practical limitations on the ability of ADS holders to vote. For example, holders of our Class B Shares will be able to
exercise their voting rights by either attending the meeting in</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">person or voting by proxy. In accordance
with the Deposit Agreement, we will provide the notice to the Depositary, which will in turn, as soon as practicable thereafter,
mail to holders of ADSs the notice of such meeting and a statement as to the manner in which instructions may be given by holders.
To exercise their voting rights, ADS holders must then instruct the Depositary how to vote their shares. Because of this extra
procedural step involving the Depositary, the process for exercising voting rights will take longer for ADS holders than for direct
holders of Class B Shares. ADSs for which the Depositary does not receive timely voting instructions will not be voted.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>As a holder of ADSs, you
will have fewer and less well-defined shareholders&rsquo; rights in Brazil than in the United States and certain other jurisdictions.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our corporate
affairs are governed by our bylaws and Brazilian Corporate Law, which may differ from the legal principles that would apply if
we were incorporated in a jurisdiction in the United States or in certain other jurisdictions outside Brazil. Under Brazilian Corporate
Law, you and the holders of the Class B Shares may have fewer and less well-defined rights to protect your interests in connection
with actions taken by our Board of Directors or the holders of Common Shares than under the laws of the United States and certain
other jurisdictions outside Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Although Brazilian
law imposes restrictions on insider trading and price manipulation, the Brazilian securities markets are not as highly supervised
as the United States securities markets or markets in certain other jurisdictions outside Brazil. For instance, rules and policies
against self-dealing and regarding the preservation of minority shareholder interests may be less developed and not as robustly
enforced in Brazil as in the United States and certain other jurisdictions outside Brazil, which could potentially disadvantage
you as a holder of the preferred shares and ADSs. In addition, shareholders in Brazilian companies must hold 5% of the outstanding
share capital of a corporation in order to have standing to bring shareholders&rsquo; derivative suits, and shareholders in Brazilian
companies ordinarily do not have standing to bring a class action suit.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>You may be unable to exercise
preemptive rights relating to the preferred shares.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">You will not
be able to exercise the preemptive rights relating to the Class B Shares underlying your ADSs unless a registration statement under
the Securities Act, is effective with respect to those rights or an exemption from the registration requirements of the Securities
Act is available. Therefore, the Depositary will not offer rights to you as a holder of the ADSs unless the rights are either registered
under provisions of the Securities Act or are subject to an exemption from the registration requirements. We are not obligated
to file a registration statement with respect to the shares or other securities relating to these rights, and we cannot assure
you that we will file any such registration statement. Accordingly, you may receive only the net proceeds from the sale of your
preemptive rights by the Depositary or, if the preemptive rights cannot be sold, they will be allowed to lapse. If you are unable
to participate in rights offerings, your holdings may also be diluted.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>Sales of a substantial number
of shares, or the perception that such sales might take place, could adversely affect the prevailing market price of our shares
or ADSs.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">As a consequence
of the issuance of new shares, sales of shares by existing share investors, or the perception that such a sale might occur, the
market price of our shares and, by extension, of the ADSs may decrease significantly.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>Future equity issuances may
dilute the holdings of current holders of our shares or ADSs and could materially affect the market price for those securities.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">We may in
the future decide to offer additional equity to raise capital or for other purposes. Any such future equity offering could reduce
the proportionate ownership and interests of holders of our shares and ADSs, as well as our earnings and net equity value per share
or ADS. Any offering of shares and ADSs by us or our main shareholders, or a perception that any such offering is imminent, could
have an adverse effect on the market price of these securities.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>You may not receive dividend
payments if we incur net losses or our net profit does not reach certain levels.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">Under Brazilian
Corporate Law and our by-laws, we must pay our shareholders a mandatory distribution equal to at least 25% of our adjusted net
profit for the preceding fiscal year, with holders of preferred shares having priority of payment. According to our bylaws, Class
A Shares and Class B Shares are entitled to receive annual, non-cumulative minimum dividends, which dividend per share shall be
at least 10% higher than the dividends per share paid to the holders of the Common Shares. Class A Shares have a dividend priority
over the Class B Shares, and Class B Shares have a dividend priority over the Common Shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">If we realize
a net profit in an amount sufficient to make dividend payments, at least the mandatory dividend is payable to holders of our preferred
and common shares. After payment of the mandatory dividend, we can retain profits as statutory profit reserves for investments
or capital reserves. If we incur net losses or realize net profits in an amount insufficient to make dividend payments, including
the mandatory dividend, our management may recommend that dividend payments be made using the statutory profit reserve after accounting
for the net losses for the year and any losses carried forward from previous years. In the event that we are unable to declare
dividends, our management may nevertheless decide to defer payment of dividends or, in limited circumstances, not to declare dividends
at all. We cannot make dividend payments from our legal reserve and capital reserve accounts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">Additionally,
in accordance with Brazilian Corporate Law, in fiscal years in which the amount of mandatory dividends exceeds the amount of realized
net profits, according to the parameters set forth in this law, management may suggest the formation of a reserve for realizable
profits. This reserve can be offset with any losses and then used for paying mandatory dividends.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Holders of our ADSs may be
unable to enforce judgments against our directors or officers.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">All of our
directors and officers named in this annual report reside in Brazil. Substantially all of our assets, as well as the assets of
these persons, are located in Brazil. As a result, it may not be possible for holders of our ADSs to effect service of process
upon us or our directors and officers within the United States or other jurisdictions outside Brazil, attach their assets or enforce
against us or our directors and officers judgments obtained in the United States or other jurisdictions outside of Brazil. Because
judgments of U.S. courts for civil liabilities based upon the U.S. federal securities laws may only be enforced in Brazil if certain
requirements are met, holders of ADSs may face greater difficulties in protecting their interest in actions against us or our directors
and officers than would shareholders of a corporation incorporated in a state or other jurisdiction of the United States.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>Judgments of Brazilian courts
with respect to our shares will be payable only in reais.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">If proceedings
are brought in the courts of Brazil seeking to enforce our obligations in respect of our shares, we will not be required to discharge
any such obligations in a currency other than reais (R$). Under Brazilian exchange control limitations, an obligation in Brazil
to pay amounts denominated in a currency other than reais (R$) may only be satisfied in Brazilian currency at the exchange rate,
as determined by the Central Bank, in effect on the date the judgment is obtained, and any such amounts are then adjusted to reflect
exchange rate variations through the effective payment date. The then prevailing exchange rate may not afford non Brazilian investors
with full compensation for any claim arising out of, or related to, our obligations under our shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>If you exchange your ADSs
for Class B Shares, you risk increased taxes and the inability to remit foreign currency abroad.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">Brazilian
law requires that parties obtain a registration before the Central Bank in order to be allowed to remit foreign currencies, including
U.S. dollars, abroad. For the ADSs, the Brazilian custodian for the Class B Shares has obtained the necessary certificate from
the Central Bank for the payment of dividends or other cash distributions relating to the preferred shares or upon the disposition
of the preferred shares. If you exchange your ADSs for the underlying Class B Shares, however, you must obtain your own certificate
of registration or register in accordance with Central Bank and CVM rules in</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">order to obtain and remit U.S. dollars
abroad upon the disposition of the Class B Shares or distributions relating to the preferred shares. If you do not obtain a certificate
of registration, you may not be able to remit U.S. dollars or other currencies abroad and may be subject to less favorable tax
treatment on gains with respect to the preferred shares. Pursuant to Central Bank rules, obtaining this registration requires exchange
transactions, which are subject to taxes in Brazil. For more information, see &ldquo;Item 10. Additional Information&mdash;Taxation&mdash;Brazilian
Tax Considerations&mdash;Other Brazilian Taxes&rdquo;. If you attempt to obtain your own registration, you may incur expenses or
suffer delays in the application process, which could delay your ability to receive dividends or distributions relating to the
preferred shares or the return of your capital in a timely manner. The custodian&rsquo;s registration before the Central Bank and
any certificate of foreign capital registration you obtain may be affected by future legislative changes. Additional restrictions
may be imposed in the future on the disposition of the underlying Class B Shares or the repatriation of the proceeds from disposition.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>The Brazilian government
may impose exchange controls and restrictions on remittances abroad which may adversely affect your ability to convert funds in
reais&nbsp;into other currencies and to remit other currencies abroad.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the past,
the Brazilian government has imposed restrictions on the remittance to foreign investors of the proceeds of their investments in
Brazil and the conversion of Brazilian currency into foreign currencies. The Brazilian government could again choose to impose
this type of restriction if, among other things, there is deterioration in Brazilian foreign currency reserves or a shift in Brazil&rsquo;s
exchange rate policy. Reintroduction of these restrictions would hinder or prevent your ability to convert dividends, distributions
or the proceeds from any sale of Class B Shares, as the case may be, from <I>reais </I>into U.S. dollars or other currencies and
to remit those funds abroad. We cannot assure you that the Brazilian government will not take similar measures in the future.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>The relative volatility and
illiquidity of the Brazilian securities markets may impair your ability to sell the Class B Shares underlying the ADSs.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Brazilian
securities markets are substantially smaller, less liquid, more concentrated and more volatile than major securities markets in
the United States and certain other jurisdictions outside Brazil, and are not as highly regulated or supervised as some of these
other markets. The illiquidity and relatively small market capitalization of the Brazilian equity markets may cause the market
price of securities of Brazilian companies, including our ADSs and Class B Shares, to fluctuate in both the domestic and international
markets, and may substantially limit your ability to sell the Class B Shares underlying your ADSs at a price and time at which
you wish to do so.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>Instability of the exchange
rate could adversely affect the value of remittances of dividends outside of Brazil and also the market price of the ADSs.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.7pt">Many Brazilian
and global macroeconomic factors have an influence on the exchange rate. In this context, the Brazilian federal government, through
the Central Bank, has in the past occasionally intervened for the purpose of controlling unstable variations in exchange rates.
We cannot predict whether the Central Bank or the federal government will continue to allow the real to float freely or whether
it will intervene through a system involving an exchange rate band, or the use of other measures.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As a result,
the real might fluctuate substantially in relation to the United States dollar, and other currencies, in the future. That instability
could adversely affect the equivalent in US dollars of the market price of our shares, and as a result the prices of our ADSs and
also outward dividends remittances from Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>Changes in economic and market
conditions in other countries, especially Latin American and emerging market countries, may adversely affect our business, results
of operations and financial condition, as well as the market price of our shares, preferred ADS and common ADSs.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The market
value of the securities of Brazilian companies is affected to varying degrees by economic and market conditions in other countries,
including other Latin American countries and emerging market countries. Although the economic conditions of such countries may
differ significantly</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">from the economic conditions of Brazil,
the reactions of investors to events in those countries may have an adverse effect on the market value of the securities of Brazilian
issuers. Crises in other emerging market countries might reduce investors&rsquo; interest in the securities of Brazilian issuers,
including our Company. In the future, this could make it more difficult for us to access the capital markets and finance our operations
on acceptable terms or at all. Due to the characteristics of the Brazilian power industry (which requires significant investments
in operating assets) and due to our financing needs, if access to the capital and credit markets is limited, we could face difficulties
in completing our investment program and refinancing our obligations, and this could adversely affect our business, results of
operations and financial condition.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B><I>Changes in Brazilian tax laws
may have an adverse impact on the taxes applicable to a disposition of our shares or ADS.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Law No. 10,833
of December 29, 2003, provides that the disposition of assets located in Brazil by a non-resident to either a Brazilian resident
or a non-resident is subject to taxation in Brazil, regardless of whether the disposition occurs outside or within Brazil. This
provision results in the imposition of income tax on the gains arising from a disposition of our common or preferred shares by
a nonresident of Brazil to another non-resident of Brazil. There is no judicial guidance as to the application of Law No. 10,833
and, accordingly, we are unable to predict whether Brazilian courts may decide that it applies to dispositions of our ADS between
nonresidents of Brazil. However, in the event that the disposition of assets is interpreted to include a disposition of our ADS,
this tax law would accordingly result in the imposition of withholding taxes on the disposition of our ADS by a non-resident of
Brazil to another non-resident of Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;<B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B><A NAME="a_009"></A>Item 4. Information on the Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_010"></A><FONT STYLE="text-transform: uppercase"><B>The
Company<FONT STYLE="font-size: 10pt; line-height: 106%"><SUP>1</SUP></FONT></B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We engage in
the generation, transmission, distribution and sale of electricity mainly in the Brazilian State of Paran&aacute;, pursuant to
concessions granted by ANEEL, the Brazilian regulatory agency for the electricity sector. We also provide telecommunications and
other services. While our activities are more concentrated in the Brazilian State of Paran&aacute;, we also operate in 10 different
Brazilian states through our generation and transmission businesses.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">As
of December 31, 2019, we generated electricity from nineteen (19) hydroelectric plants, twenty five (25) wind plants and one (1)
thermoelectric plant, for a total installed capacity of 5,742.0 MW, of which, approximately 99.7% is derived from renewable sources.
Including the installed capacity of generation companies in which we have an equity interest, our total installed capacity is 6,397.8
MW. Our electric power business is subject to comprehensive regulation by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We hold concessions
to distribute electricity in 394 of the 399 municipalities in the State of Paran&aacute; and in the municipality of Porto Uni&atilde;o
in the State of Santa Catarina. As of December 31, 2019, we owned and operated 3,389 km of transmission lines and 199,952.6 km
of distribution lines, constituting one of the largest distribution networks in Brazil. Of the electricity volume we supplied in
2019 to our Final Customers:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">33.8% was to industrial customers;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">28.1% was to residential customers;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">19.7% was to commercial customers; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">18.4% was to rural and other customers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 30pt; text-align: justify; text-indent: 6.85pt">Key elements
of our business strategy include the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">bringing together sustainable growth,
profitability, adequate indebtedness levels and allocation of profits;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">preparing the Company to go from consumer
to client;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">seeking profitable opportunities related
to new businesses and services in the energy sector;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">managing an integrated and strategic energy
portfolio, including strategic partnerships and maximizing synergies and profitability; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">divesting from non-strategic assets;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">maintaining discipline in allocating capital
and technical rigor in planning and implementing projects;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">achieving the same efficiency standards
as the best companies from the energy sector, promoting innovation, investment in technology and optimization of the workforce;</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">ensuring and raising levels of corporate
sustainability, environmental, governance, risk management and compliance;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">developing and implementing a culture
based on meritocracy and consequence management towards building high performance teams;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">seeking greater protagonism in our interaction
with regulators and institutions;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">consolidating a culture focused on safety,
health and quality of life.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our revenues
for each of the last three (3) financial years by activity are described in &ldquo;Item 5. Operating and Financial Review and Prospects
&mdash;Results of operations for the years ended December 31, 2019, 2018 and 2017&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Historical Background</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We were formed
in 1954 by the State of Paran&aacute; to engage in the generation, transmission and distribution of electricity, as part of a plan
to bring the electric energy sector under state control. We acquired the principal private power companies located in the State
of Paran&aacute; in the early 1970s. From 1970 to 1977, we significantly expanded our transmission and distribution grid and worked
to increase the connectivity of our network to networks in other Brazilian states. In 1979, a change in state law permitted us
to extend our generating activities to include production from sources other than hydroelectric and thermal power plants.</P>

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently,
we are the largest energy company in the State of Paran&aacute;. We are a corporation incorporated and existing under the laws
of Brazil, with the legal name Companhia Paranaense de Energia &ndash; Copel. Our head offices are located at Rua Coronel Dulc&iacute;dio,
800, CEP 80420-170 Curitiba, Paran&aacute;, Brazil. Our telephone number at the head office is +55 (41) 3331-4011. Our website
is www.copel.com</FONT> and a<FONT STYLE="font-family: Times New Roman, Times, Serif">ny filings we make electronically with the
SEC will be available to the public over the Internet at the SEC&rsquo;s website. The commercial name of each of our businesses
is provided as follows.</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Relationship with the State of Paran&aacute;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The State of
Paran&aacute; owns 58.6% of our Common Shares and, consequently, has the ability to control the election of the majority of the
members of our Board of Directors, members of our Supervisory Board, the appointment of senior management and our direction, future
operations and business strategy.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Corporate Structure</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Prior to 2001,
we operated as a single corporation engaged in the generation, transmission and distribution of electricity and in certain related
activities. In compliance with the new regulatory regime, we transferred our operations to four wholly-owned subsidiaries (one
each for generation, transmission, distribution and telecommunications) and our investments in other companies to a fifth wholly-owned
subsidiary. This corporate restructuring was completed in July 2001.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In 2007, to
comply with energy sector legislation, we divided the assets of our transmission business (&ldquo;Copel Transmiss&atilde;o S.A.&rdquo;)
between our distribution business (&ldquo;Copel Distribui&ccedil;&atilde;o S.A.&rdquo;) and our generation business, (&ldquo;Copel
Gera&ccedil;&atilde;o S.A.&rdquo;). As a result, we changed the name of the latter entity to Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o
S.A.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In 2013, the
Company was restructured in order to enhance the efficiency of our corporate structure and reduce our operating costs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
January 28, 2016, our board of directors approved the amendment of the bylaws of Copel Participa&ccedil;&otilde;es S.A., in order
to change its corporate purpose and denomination to Copel Comercializa&ccedil;&atilde;o S.A. The corporate purpose of this company
is the sale of energy and rendering of related services. The</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">restructuring that created
Copel Comercializa&ccedil;&atilde;o S.A. is aimed at strengthening Copel&rsquo;s positioning in the energy trading market and to
improve its efficiency, allowing for greater agility and flexibility in the sale of energy.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
September 2017, in order to optimize the management of operating activities, the Company carried out an organizational restructuring
of its wholly-owned subsidiary Copel Renov&aacute;veis S.A., whose activities were absorbed by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o
S.A,</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
August 30, 2018, Copel GeT signed a Share Exchange Agreement with Eletrosul with respect to the joint ventures Costa Oeste Transmissora
de Energia S.A. (51% - Copel GeT and 49% - Eletrosul), Marumbi Transmissora de Energia S.A. (80% - Copel GeT and 20%- Eletrosul)
and Transmissora Sul Brasileira de Energia S.A. (20% - Copel GeT and 80% - Eletrosul). Under this agreement, Copel GeT started
holding share of interest of 100% in the joint ventures Costa Oeste and Marumbi, in addition Eletrosul started to hold share of
interest of 100% in Transmissora Sul Brasileira. The business combinations occurred on August 31, 2018, date of transfer of the
shares. For additional information, see Note 1.2 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
March 2019, Copel GeT signed a purchase and sale agreement with Centrais El&eacute;tricas Brasileiras S.A. and Funda&ccedil;&atilde;o
Eletrosul de Previd&ecirc;ncia e Assistencial Social - Elos to transfer 100% of the shares issued by SPE Uirapuru Transmissora
de Energia SA. In June 2019, Copel GeT took over control of the company.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
order to renew the concession of HPP Gov. Bento Munhoz (or HPP Foz do Areia) for another 30 years, Copel incorporated the special-purpose
entity SPE F.D.A. Gera&ccedil;&atilde;o de Energia El&eacute;trica S.A. (&ldquo;FDA&rdquo;)and, on March 03, 2020, requested the
Ministry of Mines and Energy to apply Federal Decree no. 9,271/2018 (as amended by Federal Decree no. 10,135/2019), which conditions
the renewal to the sale of the concession's corporate control in up to 18 months before the end of the current concession. On the
same date, FDA signed with ANEEL the Brazilian Electricity Regulatory Agency, the Concession Contract that transfers the concession
of the HPP Foz do Areia from Copel GeT to FDA, for the exploration of the plant until the end of the current concession, on September
17, 2023.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
October 18, 2019, Copel GeT, through a consortium with its subsidiary Cutia Empreendimentos E&oacute;licos, participated in the
A-6 new energy generation auction, having sold 14.4 average MW of the Janda&iacute;ra Wind Complex. The Janda&iacute;ra Wind Complex,
which has 90.1 MW of installed capacity and 47.6 average MW of assured power, will be built in the northeastern state of Rio Grande
do Norte, a region where Copel has other wind generation assets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Copel currently
has five wholly-owned subsidiaries, which are Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o S.A., Copel Distribui&ccedil;&atilde;o
S.A., Copel Telecomunica&ccedil;&otilde;es, Copel Comercializa&ccedil;&atilde;o S.A. and Copel Renov&aacute;veis S.A.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Copel also
holds 100% shareholding stake in several Special Purpose Companies (SPC).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The current
organization of the group is as described as follows. All of our subsidiaries are incorporated in the Federative Republic of Brazil
and subject to the Brazilian law.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_011"></A><B>BUSINESS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the past,
our generation and distribution businesses were integrated, and we sold most of the electricity we generated to the customers of
our distribution business. This changed as a result of the implementation of the New Industry Model Law, enacted in 2004. Today,
open auctions on the regulated market are still one of the primary channels by which our distribution business purchases energy
to resell to Captive Customers and one of the channels by which our generation business generates revenues. Our generation business
only sells energy to our distribution business through auctions in the regulated market. Moreover, our distribution business, like
other certain Brazilian distribution companies, is also required to purchase energy from Itaipu, in an amount determined by the
Brazilian government based on our proportionate share in the Brazilian electricity market. For more information, see &ldquo;Item
4. Information on the Company&mdash;The Brazilian Electric Power Industry&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table shows the total electricity we (i) generated through entities in which we hold a 100.0% shareholding stake and the 51.0%
and 30,0% of energy generated by Mau&aacute; and Baixo Igua&ccedil;u Hydroelectric Plants respectively (corresponding to the interest
we hold in each of these assets) and (ii) purchased in the last five years, broken down by the total amount of electricity generated
and purchased by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o and our wind farm generation facilities described below (&ldquo;Wind
Farms&rdquo;) and the total amount of electricity purchased by Copel Distribui&ccedil;&atilde;o and Copel Comercializa&ccedil;&atilde;o.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year
        ended December 31, </B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="width: 45%; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2016</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2015</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(GWh) </B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o</B><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity generated<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">17,199</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">18,029</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">19,583</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">25,319</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">24,494</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from Copel Comercializa&ccedil;&atilde;o&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">155</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">180</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">627</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from others&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">140</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">141</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">428</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">141</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">257</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity received from the Interconnected System&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">445</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">142</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">425</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">7</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%"><B>Total electricity generated and purchased by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>17,939</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>18,492</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>21,063</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>25,462</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>24,758</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Wind Farms</B><SUP>(1) (3)</SUP></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity generated<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">1,912</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">1,067</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">989</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">1,175</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">621</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from others&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">61</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">295</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 18.7pt; text-indent: -9.35pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Total electricity generated and purchased by Wind Farms&#9;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>1,973</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>1,067</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>989</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>1,175</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>916</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Copel Distribui&ccedil;&atilde;o</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from Itaipu<SUP>(4)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">5,532</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">5,726</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">5,934</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">5,958</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">5,941</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from Auction &ndash; CCEAR &ndash; affiliates&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">153</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">92</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">87</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">157</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">215</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from Auction &ndash; CCEAR &ndash; other&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">12,361</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">10,691</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">9,860</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">13,387</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">14,419</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from others<SUP>(5)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">8,093</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">9,242</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">10,209</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">10,361</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">8,419</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%"><B>Total electricity purchased by Copel Distribui&ccedil;&atilde;o</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>26,139</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>25,751</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>26,090</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>29,863</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>28,994</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-left: 9.3pt; line-height: 106%; text-align: justify; text-indent: -9.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Copel Comercializa&ccedil;&atilde;o</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">5,124</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2,422</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">27</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from others<SUP>(5)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">3,331</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">4,101</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2,644</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">59</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Electricity purchased from Spot Market &ndash; CCEE&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">34</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-left: 9.35pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%"><B>Total electricity purchased by Copel Comercializa&ccedil;&atilde;o</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">8,489</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>6,525</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>2,671</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>59</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>-</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%"><B>Total electricity generated and purchased by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o, Copel Distribui&ccedil;&atilde;o, Wind Farms and Copel Comercializa&ccedil;&atilde;o&#9;</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>54,540</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>51,835</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>50,813</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>56,559</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>54,668</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 0 21.55pt; text-align: justify">&nbsp;</P>


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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">In 2018, Copel adopted the criteria set forth by the CCEE to determine the energy flows in sale and purchase transactions. The
energy amounts reflected in this table, even with respect to past years, were calculated in accordance with the criteria adopted
by the CCEE.</TD></TR>
</TABLE>


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    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">Includes the electrical losses of wiring and interconnecting station and technical losses by delivering energy to the Interconnected
System.</TD></TR>
</TABLE>


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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">Electricity generated and purchased by our wind farm generation facilities which were under the supervision of Copel Renov&aacute;veis
until 2015. In December 2015, Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o became responsible for the operation of these facilities.</TD></TR>
</TABLE>


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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(4)</SUP></TD>
    <TD STYLE="text-align: justify">Distribution companies operating under concessions in the Midwest, South and Southeast regions of Brazil purchase electricity
generated by Itaipu.</TD></TR>
</TABLE>


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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(5)</SUP></TD>
    <TD STYLE="text-align: justify">These numbers do not include assignments related to the Mechanism for Compensation of Surpluses and Deficits of New Energy (<I>Mecanismo
de Compensa&ccedil;&atilde;o de Sobras e D&eacute;ficits de Energia Nova, </I>or <I>MCSD-EN</I>).</TD></TR>
</TABLE>


<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -7.1pt"><SUP>&nbsp;</SUP></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table shows the total electricity we sold to Free Customers, Captive Customers, distributors, energy traders and other utilities
service providers in the south of Brazil through the Interconnected Transmission System in the last five years.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 8.95pt; line-height: 106%; text-indent: -8.95pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year
        ended December 31,</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="width: 45%; padding-left: 8.95pt; line-height: 106%; text-indent: -8.95pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2016</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2015</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -2.4pt; padding-left: 1.7pt; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-left: 1.7pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>(GWh)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: -2.4pt; padding-left: 1.7pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o</B><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Free Customers&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,146</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,960</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,860</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,600</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,921</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Bilateral Agreements (Copel Comercializa&ccedil;&atilde;o)&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,123</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,969</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">27</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Bilateral Agreements&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,724</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,826</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,477</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,908</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,675</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered under auction &ndash; CCEAR &ndash; affiliates<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">122</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">92</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">86</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">157</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">215</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered under auction &ndash; CCEAR &ndash; other<SUP>(2</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,215</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">876</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">838</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,154</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,391</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Spot Market &ndash; CCEE<SUP>(2)</SUP> &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(594)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">213</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,246</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(252)</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(640)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to the Interconnected System &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,203</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,556</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,529</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,895</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,196</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total electricity delivered by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o&#9;</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>17,940</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>18,492</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>21,063</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>25,462</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>24,758</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Wind Farms</B><SUP>(1) (3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered under auction &ndash; CCEAR &ndash; affiliates&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">31</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered under auction &ndash; CCEAR &ndash; other&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,288</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">840</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">840</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">842</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">724</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered under auction &ndash; CER &ndash; other&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">914</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">334</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">357</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">358</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">337</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total electricity delivered by Wind Farms</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>2,233</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>1,174</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>1,197</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>1,200</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>1,061</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.4pt; padding-left: 1.7pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Copel Distribui&ccedil;&atilde;o</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Captive Customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">19,784</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">19,594</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">19,743</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">22,328</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">24,043</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to distributors in the State of Paran&aacute;&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">164</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">279</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">521</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-bottom: 8pt; padding-left: 1.7pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">614</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">699</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Spot Market &ndash; CCEE<SUP>(4)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,319</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 0.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,401</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,510</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,611</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">910</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total electricity delivered by Copel Distribui&ccedil;&atilde;o</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>21,267</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>22,274</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>22,774</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>26,553</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>25,652</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.4pt; padding-left: 1.7pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Copel Comercializa&ccedil;&atilde;o</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Free Customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,715</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,096</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">771</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">58</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Bilateral Agreements (Copel GeT)</FONT></TD>
    <TD STYLE="padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">216</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">180</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">628</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Bilateral Agreements</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,722</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,223</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,254</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity delivered to Spot Market &ndash; CCEE &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">52</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">26</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">18</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total electricity delivered by Copel Comercializa&ccedil;&atilde;o</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>8,490</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>6,525</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>2,671</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>59</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>-</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Subtotal</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>49,930</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>48,465</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>47,705</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>53,274</B></FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>51,471</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Losses by Copel Distribui&ccedil;&atilde;o and Wind Farms<SUP>5)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.55pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,808</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,370</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&nbsp;3,108</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,285</FONT></TD>
    <TD STYLE="padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,197</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: -2.15pt; padding-left: 1.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Total electricity delivered by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o, Copel Renov&aacute;veis, Copel Distribui&ccedil;&atilde;o and Copel Comercializa&ccedil;&atilde;o, including losses&#9;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>52,738</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>51,835</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.35pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>50,813</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>56,559</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.35pt; padding-left: 1.7pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>54,668</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 0 21.55pt; text-align: justify">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">In 2018, Copel adopted the criteria set forth by the CCEE to determine the energy flows in sale and purchase transactions. The
energy amounts reflected in this table, even with respect to past years, were calculated in accordance with the criteria adopted
by the CCEE.</TD></TR>
</TABLE>


<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">Amounts indicated as less than zero (negative numbers) refer to the consolidated purchase of electricity from the Spot Market
along the year.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">Electricity generated and purchased by our wind farm generation facilities which were under the supervision of Copel Renov&aacute;veis
until 2015. In December 2015, Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o became responsible for the operation of these facilities.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(4)</SUP></TD>
    <TD STYLE="text-align: justify">Includes the MCSD.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(5)</SUP></TD>
    <TD STYLE="text-align: justify">Includes Technical, Non-technical and Basic network losses of Copel Distribui&ccedil;&atilde;o and losses related to the Wind
Farms.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 9pt 0; text-indent: 0.5in"><B>Generation</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">As
of December 31, 2019, considering only the entities in which we hold a 100.0% shareholding stake and 51.0% and 30.0% of the energy
generated by Mau&aacute; and Baixo Igua&ccedil;u Hydroelectric Plants, respectively (corresponding to the interest we hold in each
of these assets), we operated and sold energy through nineteen (19) hydroelectric plants, twenty eight (28) wind plants and one
(1) thermoelectric plant, with a total installed capacity of 5,560.0 MW. Our assured energy totaled an average of 2,494.9 MW in
2019. Our generation varies yearly as a result of hydrological conditions and other factors. We generated 19,029 GWh in 2019, 19,121
GWh in 2018, 20,891 GWh in 2017, 27,068 GWh in 2016 and 25,960 GWh in 2015.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Considering
the installed capacity of all of the generation companies in which we have an interest (equity or otherwise), our total installed
capacity as of December 31, 2019, was 6,397.8 MW.</P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The generation of electrical energy
at our power plants is supervised, coordinated and operated by our Generation and Transmission Operation Center in the city of
Curitiba. This operation center is responsible for coordinating the operations related to approximately 100% of our total installed
capacity, including some of the plants in which we hold only partial ownership interests.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Hydroelectric Generation Facilities</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table sets forth certain information related to our main hydroelectric plants in operation during 2019:</P>

<P STYLE="font: 8pt/105% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Plant</B></P></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Installed
        capacity</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Assured
        energy <SUP>(1)</SUP></B></P></TD>
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Placed
        in service</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Concession
        expires</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(MW)</B></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(GWh/yr)</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Foz do Areia&#9;</FONT></TD>
    <TD STYLE="padding-right: 15.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,676.0</FONT></TD>
    <TD STYLE="padding-right: 5.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&nbsp;5,284.91</FONT></TD>
    <TD STYLE="padding-right: 0.25in; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1980</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2023</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Segredo&#9;</FONT></TD>
    <TD STYLE="padding-right: 15.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,260.0</FONT></TD>
    <TD STYLE="padding-right: 5.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&nbsp;5,067.66</FONT></TD>
    <TD STYLE="padding-right: 0.25in; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1992</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2029</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Salto Caxias&#9;</FONT></TD>
    <TD STYLE="padding-right: 15.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,240.0</FONT></TD>
    <TD STYLE="padding-right: 5.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,305.06</FONT></TD>
    <TD STYLE="padding-right: 0.25in; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1999</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2030</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Capivari Cachoeira<SUP>(2)</SUP> &#9;</FONT></TD>
    <TD STYLE="padding-right: 15.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">260.0</FONT></TD>
    <TD STYLE="padding-right: 5.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">954.84</FONT></TD>
    <TD STYLE="padding-right: 0.25in; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1971</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Mau&aacute;&#9;</FONT></TD>
    <TD STYLE="padding-right: 15.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">185.2<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">883.24</FONT></TD>
    <TD STYLE="padding-right: 0.25in; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">July, 2042</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Baixo Igua&ccedil;u&#9;</FONT></TD>
    <TD STYLE="padding-right: 15.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">105,06<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">452.89</FONT></TD>
    <TD STYLE="padding-right: 0.25in; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2049</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Col&iacute;der&#9;</FONT></TD>
    <TD STYLE="padding-right: 15.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">300</FONT></TD>
    <TD STYLE="padding-right: 5.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,560.16</FONT></TD>
    <TD STYLE="padding-right: 0.25in; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Others&#9;</FONT></TD>
    <TD STYLE="padding-right: 15.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">102.7</FONT></TD>
    <TD STYLE="padding-right: 5.5pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">556.30</FONT></TD>
    <TD STYLE="padding-right: 0.25in; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">N/A</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">N/A</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Values used to determine volumes committed for sale.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">On January 5, 2016, Copel Gera&ccedil;&atilde;o e Tramiss&atilde;o executed a concession agreement with ANEEL so that it will
continue to operate this plant under an operation and maintenance regime until 2046.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">Corresponds to 51.0% of the installed capacity of the plant (361.0 MW), corresponding to the interest we hold in this plant, as
we operate this plant through a consortium.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(4)</SUP></TD>
    <TD STYLE="text-align: justify">Corresponds to 30.0% of the installed capacity of the plant (350.2 MW), corresponding to the interest we hold in this plant, as
we operate this plant through a consortium.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>Governador Bento
Munhoz da Rocha Netto (&ldquo;Foz do Areia&rdquo; Plant)</I>. The Foz do Areia Hydroelectric Power Plant is located on the Igua&ccedil;u
River, approximately 350 kilometers southwest of the city of Curitiba.</P>


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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">Copel Gera&ccedil;&atilde;o
e Transmiss&atilde;o SA (&ldquo;Copel GeT&rdquo;) held the concession for the exploration rights of the Governador Bento Munhoz
da Rocha Netto Hydroelectric Power Plant (&ldquo;UHE GBM&rdquo;), in accordance with the Concession Agreement No. 045/1999, with
the term of such concession until September, 2023. On the occasion of the termination of such concession, it is the Federal Government&rsquo;s
responsibility to launch a new competitive bidding process for UHE GBM 's exploration rights, with wide competition between agents
in the sector. Decree 9.271/18 allows the Federal Government to grant a new concession contract for a period of up to 30 years
to the winning legal entity of the privatization bidding of a public electricity generation service concessionaire under the control
of the States.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">The Company
carried out studies to analyze the feasibility of becoming the winner in the future bidding process, and in the administrators&rsquo;
assessment, the appetite of foreign investors represents a high risk for Copel, which may not be sufficiently competitive in the
event of more efficient agents, or with lower financial cost for investments.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">In this context,
Copel GeT incorporated FDA and requested ANEEL for the transfer of the public electricity generation service for the plant in question.
The transfer of the concession rights of UHE GBM to FDA took place under the terms of ANEEL Authorization Resolution No. 8,578,
of February 11, 2020 and the Concession Contract for Generation of Electricity destined to the Public Service between FDA No. 002/2020.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="line-height: 106%">On
March 3, 2020, for the purposes of the provisions of Article 1<SUP>st</SUP> &sect;2nd, item II of Decree No. 9.271/2018 (as amended
by Decree No. 10.135/2019), Companhia Paranaense de Energia - Copel and Copel Gera&ccedil;&atilde;o </FONT>e Transmiss&atilde;o
<FONT STYLE="line-height: 106%">S.A. filed a petition with the Ministry of Mines and Energy, through which they expressed their
intention to privatize, by means of the sale of FDA&rsquo;s control, associated with obtaining a Concession Agreement for 30 (thirty)
years, counted as from its signing date, for the Governador Bento Munhoz da Rocha Netto Hydroelectric Plant. The petition provided
that the privatization bidding, by means of the sale of FDA&rsquo;s control, will be effected only after the acknowledgement and
evaluation of the conditions involved in obtaining the concession rights, especially those related to the payment of the concession
rights, in addition to the respective procedures and governance therefore.</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Governador
Ney Aminthas de Barros Braga (&ldquo;Segredo&rdquo; Plant)</I>. The Segredo Hydroelectric Power Plant is located on the Igua&ccedil;u
River, approximately 370 kilometers southwest of the city of Curitiba.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Governador
Jos&eacute; Richa (&ldquo;Salto Caxias&rdquo; Plant)</I>. The Salto Caxias Hydroelectric Power Plant is located on the Igua&ccedil;u
River, approximately 600 kilometers southwest of the city of Curitiba.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Governador
Pedro Viriato Parigot de Souza (&ldquo;Capivari Cachoeira&rdquo; Plant)</I>. The Capivari Cachoeira Hydroelectric Power Plant is
the largest underground hydroelectric plant in Southern Brazil. The reservoir is located on the Capivari River, approximately 50
kilometers north of the city of Curitiba, and the power station is located on the Cachoeira River, approximately 15 kilometers
from the reservoir.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
former concession agreement for the Capivari Cachoeira Plant expired on July 7, 2015. Although Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o
did not elect to renew the original concession pursuant the 2013 Concession Renewal Law, it participated in the new competitive
bidding process and won. On January 5, 2016, Copel GeT executed a concession agreement with ANEEL, allowing it to continue to operate
this plant under an operation and maintenance regime until January 5, 2046. We paid a total of R$574.8 million as the signing bonus
for this concession and we received an annual generation revenue (AGR) of R$144.1 million from January 5, 2016 to December 31,
2016. This AGR is subject to an annual tariff adjustment. In July 2017, the AGR was adjusted to R$114.1 million for the period
from July 2017 to June 2018 pursuant to the ANEEL Resolution No. 2,265/2017, and in 2018 the AGR was adjusted to R$119.2 million
for the period from July 2018 to June 2019 pursuant ANEEL Resolution No. 2,421/2018. In 2019 the AGR was adjusted to R$123,7 million
for the period from July 2019 to June 2020 pursuant ANEEL Resolution No. 2,587/2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
Capivari Cachoeira Plant has 260.0 MW of installed capacity and assured energy of 954.8 GWh/year. Since January 1, 2017, 70.0%
of the energy generated by this plant has been allocated in quotas to</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">the regulated market. Copel
GeT will no longer bear the hydrological risk for the energy allocated in quotas under the MRE associated with the Capivari Cachoeira
Plant.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Mau&aacute;</I>.
The Jayme Canet J&uacute;nior Hydroelectric Power Plant (Mau&aacute; Plant) is located on the Tibagi River, in the State of Paran&aacute;.
It was constructed between 2008 and 2012 by Cons&oacute;rcio Energ&eacute;tico Cruzeiro do Sul, in which we hold a 51.0% interest
and CGT Eletrosul holds the remaining 49.0%. The facility is located approximately 250 kilometers from Curitiba, in the Municipality
of Tel&ecirc;maco Borba.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Col&iacute;der
</I>Hydroelectric Power Plant has an installed capacity of 300.0 MW and it is located on the Teles Pires River, in the State of
Mato Grosso, between the municipalities of Nova Cana&atilde; do Norte and Ita&uacute;ba, with the municipalities of Col&iacute;der
and Cl&aacute;udia are also affected by the reservoir. The construction of the plant began in 2011 and the work was totally concluded
in 2019. The first generating unit entered commercial operation on March 9, 2019 and the last unit started operating on December
21, 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Baixo Igua&ccedil;u
</I>Hidroelectric Power Plant has an installed capacity of 350.2 MW and it is located on the Igua&ccedil;u River, in the municipalities
of Capanema, Capit&atilde;o Leonidas Marques, Planalto, Realeza and Nova Prata do Igua&ccedil;u, State of Paran&aacute;. Baixo
Igua&ccedil;u HPP is the last large energy project planned for the main Igua&ccedil;u and it is located around 30 km downstream
from Governador Jos&eacute; Richa HPP - the Salto Caxias Hydroelectric Power Plant, which is 100.0% owned by Copel. It was constructed
by a consortium in which Copel GeT holds a 30% interest and Gera&ccedil;&atilde;o C&eacute;u Azul S.A. holds the remaining 70.0%.
This power plant became fully operational on April 10, 2019.In addition to our generation facilities, we have ownership interests
in several other hydroelectric generation companies as detailed below.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Between 2004
and 2010, we were required by law to retain a majority of the voting shares of any company in which we obtained an ownership interest.
Starting in 2010, it became possible for us to hold non-controlling interests in companies.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table sets forth information regarding the hydroelectric generation plants in which we had a partial equity interest as of December
31, 2019:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Plant</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Installed</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>capacity</B></P>
</DIV></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Assured</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>energy</B></P>
</DIV></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Placed
        in service</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Our
        ownership</B></P></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Concession</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>expires</B></P>
</DIV></TD></TR>
<TR>
    <TD STYLE="line-height: 11.4pt">&nbsp;</TD>
    <TD STYLE="line-height: 11.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(MW)</B></FONT></TD>
    <TD STYLE="line-height: 11.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(GWh/yr)</B></FONT></TD>
    <TD STYLE="line-height: 11.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 11.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(%)</B></FONT></TD>
    <TD STYLE="line-height: 11.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Elejor Facility <BR>
(Santa Clara, Santa Clara I, Fund&atilde;o and Fund&atilde;o I)&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">246.5</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 11.25pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,229.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">July, 2005<BR>
June, 2006</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">70.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2037<SUP>(1)</SUP> <BR>
December, 2032</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Dona Francisca&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 11.25pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">125.0</FONT></TD>
    <TD STYLE="padding-right: 3.3pt; line-height: 11.25pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">664.9</FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">February, 2001</FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">23.0</FONT></TD>
    <TD STYLE="padding-left: 1.45pt; line-height: 11.25pt; text-align: center; text-indent: -0.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">August, 2033</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">SHP Arturo Andreoli <BR>
(Foz do Chopim)&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 11.25pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">29.1</FONT></TD>
    <TD STYLE="padding-right: 3.3pt; line-height: 11.25pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">178.7</FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">October, 2001</FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">35.8</FONT></TD>
    <TD STYLE="padding-left: 1.45pt; line-height: 11.25pt; text-align: center; text-indent: -0.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2030</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">UHE Baixo Igua&ccedil;u&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 11.25pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">350.2</FONT></TD>
    <TD STYLE="padding-right: 3.3pt; line-height: 11.25pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1,513.72</FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2019</FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">30.0</FONT></TD>
    <TD STYLE="padding-left: 1.45pt; line-height: 11.25pt; text-align: center; text-indent: -0.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">August, 2047</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Elejor Facility adhered on January 14, 2015, with the renegotiation of the hydrological risks, which caused the expiration date
to be extended from 2036 to 2037.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Elejor Facility</I>.
The Elejor Facility consists of the Santa Clara and Fund&atilde;o Hydroelectric Power Plants, both of which are located on the
Jord&atilde;o River in the State of Paran&aacute;. The aggregate total installed capacity of the units is 246.5 MW, which includes
two smaller hydroelectric generation units installed in the same location. Elejor signed a concession agreement with a term of
35 years for the Santa Clara and Fund&atilde;o plants in October 2001. As of December 31, 2019, we own 70.0% of the common shares
of Elejor, and Paineira Participa&ccedil;&otilde;es owns the remaining 30.0%.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Elejor is required
to make monthly payments to the federal government for the use of hydroelectric resources, which in 2001 totaled R$19.0 million.
This amount is adjusted on an annual basis by the IGP-M Index.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We had a power
purchase agreement with Elejor, which provides that we will purchase all of the energy produced by the Santa Clara and Fund&atilde;o
facilities at a set rate until April 2019, to be adjusted annually in accordance with the IGP-M Index.This agreement was terminated,
there was no renewal and Elejor is selling the energy in the Free Market. In 2019, Elejor&rsquo;s net revenues and net profits
were R$218.4 million and R$26.1 million, respectively, while in 2018 its net revenues and net profits were R$293.9 million and
R$76.3 million, respectively.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Dona Francisca</I>.
We own 23.03% of the common shares of Dona Francisca Energ&eacute;tica S.A. (&ldquo;DFESA&rdquo;). The other shareholders are Gerdau
S.A. with a 51.82% interest, Celesc S.A. with a 23.03% interest and Statkraft S.A. with a 2.12% interest. DFESA Hydroelectric Power
Plant is located on the Jacu&iacute; River in the State of Rio Grande do Sul. The plant began full operations in 2001. In April
2015, we signed a new ten year power purchase agreement with DFESA, valued at R$17.0 million annually, under which Copel purchases
23.03% of DFESA&rsquo;s assured energy (proportional to Copel&rsquo;s stake).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In 2019, DFESA&rsquo;s
net revenues and net profits were R$70.1 million and R$42.8 million, respectively, while in 2018 its net revenues and net profits
were R$70.1 million and R$43.8 million, respectively.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>SHP Arturo
Andreoli (&ldquo;Foz do Chopim&rdquo; Hydroelectric Plant)</I>. The Foz do Chopim Hydroelectric Plant is located on the Chopim
River in the State of Paran&aacute;. We own 35.8% of the common shares of Foz do Chopim Energ&eacute;tica Ltda., the entity that
owns the Foz do Chopim Hydroelectric Plant. Silea Participa&ccedil;&otilde;es Ltda. owns the remaining 64.2%. The operation and
maintenance of Foz do Chopim Hydroelectric Plant is performed by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o S.A. Energy supply
agreements were executed at an average tariff of R$220.07/MWh. Foz do Chopim Energ&eacute;tica Ltda. also had the authorization
to operate Bela Vista SHP, a hydroelectric power plant that is located on the same river and has similar capacity, which was transferred
to Bela Vista Gera&ccedil;&atilde;o de Energia S.A. (&ldquo;Bela Vista Gera&ccedil;&atilde;o&rdquo;), through the ANEEL&rsquo;s
Authorizing Resolution no. 7.802/2019. In 2019, Foz do Chopim&rsquo;s net revenues and net profits were R$56.9 million and R$38.9
million, respectively, while in 2018 its net revenues and net profits were R$46.6 million and R$36.9 million, respectively.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Wind Farm Generation Facilities</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Since
2013 we have been expanding our energy generation capacity and diversifying our energy matrix through the development of renewable
energy sources, like the construction and acquisition of wind farms in the State of Rio Grande do Norte. The following table sets
forth certain information relating to our wind farm plants in operation as of December 31, 2019:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Plant</B></P></TD>
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Installed
        capacity</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Assured
        Power</B></P></TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Placed
        in Service</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Concession
        Expires</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(MW)</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(Average MW)</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>S&atilde;o Bento Energia</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>94.0</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>46.3</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.45pt; padding-left: 5.4pt; line-height: 10.7pt; text-align: center; text-indent: 12.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Boa Vista &#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">6.3</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">February, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Olho d'&Aacute;gua &#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">30.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">15.3</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">February, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">May, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Bento do Norte &#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">30.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.6</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">February, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">May, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Farol&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">20.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">10.1</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">February, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Palmas&#9;</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2.5</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>0.5</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>November, 1999</B></FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&nbsp;September, 2029</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Copel Brisa Potiguar Wind Complex&#9;</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>183.6</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>98.4</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Asa Branca I&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.2</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">August, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Asa Branca II&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.3</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">September, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">May, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Asa Branca III&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.5</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">September, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">May, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Eurus IV&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.7</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">August, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Santa Maria&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">29.7</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">15.7</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">May, 2047</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Santa Helena&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">29.7</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">16.0</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">May, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2047</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Ventos de Santo Uriel&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">16.2</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9.0</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">May, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2047</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Volt&aacute;lia S&atilde;o Miguel do Gostoso I</B><SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>108.0</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>57.1</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Carna&uacute;bas&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">13.1</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">June, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2047</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Reduto&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.4</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">June, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2047</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Santo Cristo&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">15.3</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">June, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 2047</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Jo&atilde;o&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; line-height: 10.7pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.3</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">June, 2015</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">March, 2047</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Cutia Empreendimentos E&oacute;licos</B><SUP>(2)</SUP><B>&#9;</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>312.9</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>126.2</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Cutia&#9;</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Dreen Cutia &#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">23.1</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">9.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December, 2018</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2042</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Dreen Guajiru&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">21.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">8.3</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December, 2018</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2042</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Esperan&ccedil;a do Nordeste&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">27.3</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">9.1</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December, 2018</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">GE Jangada&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">27.3</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">10.3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December, 2018</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2042</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">GE Maria Helena&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">27.3</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">12.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December, 2018</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2042</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">GE Para&iacute;so dos Ventos do Nordeste&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">27.3</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">10.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Potiguar&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">27.3</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">11.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December, 2018</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Bento Miguel</B></FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Bento do Norte I&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">23.1</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">9.7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">August, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Bento do Norte II&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">23.1</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">10.0</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">August, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Bento do Norte III&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">23.1</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">9.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">April, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">August, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel I&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">21.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">8.7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">February, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">August, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel II&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">21.0</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">8.4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">February, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">August, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel III&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">27.3</FONT></TD>
    <TD STYLE="padding-right: 26.25pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">8.4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">February, 2019</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">August, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD>
    <TD STYLE="width: 19%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 21.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Copel has a 49.0% interest in Volt&aacute;lia S&atilde;o Miguel do Gostoso .</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 12pt; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><SUP>(2)</SUP></TD>
    <TD>In January 2019, S&atilde;o Bento do Norte I, II and III began their commercial operations with 100% of their installed capacity,
while the S&atilde;o Miguel I,II and III began their operation with 100% of their installed capacity in February 2019.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>S&atilde;o
Bento Energia.</I> On February 25, 2015, the four wind farms (Boa Vista, Olho d&rsquo;&Aacute;gua, S&atilde;o Bento do Norte and
Farol) which are part of the S&atilde;o Bento Wind Farm Complex, located in the State of Rio Grande do Norte, began operations.
With an installed capacity of 94 MW and assured energy of 46.3 average-MW. In August 2010, 43.7 average-MW of the energy generated
at a weighted average price of R$134.40/MWh (annually adjusted by IPCA index) was sold to fifteen distribution concessionaires
in ANEEL public auctions. The energy generated by these wind farms is sold through 20-year term contracts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Copel Brisa
Potiguar Wind Complex</I>. On September 15, 2015, Copel concluded the installation of the Brisa Potiguar Wind Complex with an installed
capacity 183.6 MW and assured energy of 98,4 average-MW. An assured energy of 57.7 average-MW (from Asa Branca I, Asa Branca II,
Asa Branca III and Eurus IV wind farms) was committed under contract to electric power distributors in the alternative energy auction
in August 2010 at a weighted average price of R$135.40/MWh (adjusted annually by IPCA inflation index) and an average of 40.7 MW
(from WPPs Santa Helena, Santa Maria and Ventos de Santo Uriel) was committed under contract in the 6<SUP>th</SUP> Reserve Energy
Auction held in August 2011 at a weighted average price of R$101.98/MWh (annually adjusted by the IPCA inflation index). The energy
to be generated was sold through 20-year term contracts with payments beginning in April 2015.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Volt&aacute;lia
S&atilde;o Miguel do Gostoso I.</I> In June 2014, we negotiated with Voltalia Energia do Brasil Ltda. (Voltalia) the acquisition
of a 49.0% interest in the S&atilde;o Miguel do Gostoso I Wind Farm Complex, in the State of Rio Grande do Norte. The S&atilde;o
Miguel do Gostoso wind farm complex has 108.0 MW of installed capacity and assured energy of 57.1 average-MW, and its energy was
sold in the 4<SUP>th</SUP> Reserve Energy Auction at an average price of R$98.92/MWh through 20-year term contracts. In April 2015,
we concluded the construction of this wind farm complex and ANEEL, in July and August 2015, classified it as ready for commercial
operation. This wind farm complex began production in June 2017 after completion of the necessary transmission lines.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Cutia.</I>
Cutia Empreendimentos E&oacute;licos, which is Copel&rsquo;s largest wind farm business, is divided into two large complexes totaling
312.9 MW of installed capacity: (a) Cutia Complex, composed of seven wind</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">farms (Guajiru, Jangada, Potiguar, Cutia,
Maria Helena, Esperan&ccedil;a do Nordeste and Para&iacute;so dos Ventos do Nordeste), with a total installed capacity of 180.6
MW, 71.4 average MW of physical guarantee and located in the State of Rio Grande do Norte; and (b) Bento Miguel Complex, composed
of six wind farms (S&atilde;o Bento do Norte I, S&atilde;o Bento do Norte II, S&atilde;o Bento do Norte III, S&atilde;o Miguel
I, S&atilde;o Miguel II and S&atilde;o Miguel III) with 132.3 MW of total installed capacity, 58.7 average MW of physical guarantee
and located in the State of Rio Grande do Norte, in the same region of other wind farm complexes that belong to us. On October
31, 2014, at the 6th Reserve Energy Auction, we sold 71.2 average MW from the Cutia Complex for R$144.00/MWh (maximum auction price).
In addition, at the 20th New Energy Auction (A-5), held on November 28, 2014, we sold 54.8 average MW from the six Bento Miguel
wind farms for R$136.97/MWh, through Availability Agreements with a 20-year term.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
December 2018, the wind farms of Cutia, Guajiru and Esperan&ccedil;a do Nordeste, all part of the Cutia Complex, began their operations
with 100% of their installed capacity. The parks of Jangada, Maria Helena and Potiguar, also part of the Cutia Complex, began their
commercial operations in December 2018 with 85%, 54% and 77% of their installed capacity, respectively. On September 20, 2019,
according to ANEEL Order No. 2,593 / 2019, the last three generating units of the Maria Helena Wind Power Plant were released.
With this, the Cutia Wind Complex became fully operational in 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In January
2019, S&atilde;o Bento do Norte I, S&atilde;o Bento do Norte II began their operations, while in February 2019, S&atilde;o Miguel
I, S&atilde;o Miguel II e S&atilde;o Miguel III began theirs. In April 2019, S&atilde;o Bento do Norte III began their operations.
With this, the Bento Miguel Complex became fully operational.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Thermoelectric Generation Facilities</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
following table sets forth certain information about our thermoelectric plants in operation as of December 31, 2019:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Plant</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Installed</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>capacity</B></P>
</DIV></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Assured</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>energy</B></P>
</DIV></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Placed
        in service</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Our
        ownership</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: center; border-bottom: Black 0.5pt solid"><B>Concession/
        authorization<BR>
        expires</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 11.4pt">&nbsp;</TD>
    <TD STYLE="line-height: 11.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(MW)</B></FONT></TD>
    <TD STYLE="line-height: 11.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(GWh/yr)</B></FONT></TD>
    <TD STYLE="line-height: 11.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 11.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(%)</B></FONT></TD>
    <TD STYLE="line-height: 11.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TPP Arauc&aacute;ria&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.5pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">484.1</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2,338.92<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2002</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">81.2 <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-left: 1.45pt; line-height: 150%; text-align: center; text-indent: -0.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2029</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TPP Figueira&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.5pt; line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">20.0</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">90.2</FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April, 1963</FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100.0</FONT></TD>
    <TD STYLE="padding-left: 1.45pt; line-height: 11.25pt; text-align: center; text-indent: -0.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">March, 2019<SUP>(3)</SUP></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 21.55pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"><SUP>(1)</SUP> The annual assured energy
of thermal plants such as Arauc&aacute;ria varies depending on the price of natural gas, according to criteria established by the
MME.</P>

<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"><SUP>(2)</SUP> Held 20,3% by Copel and
60,9% by Copel GeT.</P>

<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><SUP>(3)</SUP> We are currently
waiting for the granting authority to amend our concession agreement with respect to TPP Figueira, extending the concession of
the thermoelectric plant for another 20 years, pursuant to the Concession Extension Law of 2013</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Arauc&aacute;ria</I>.
We have an 81.2% interest in UEG Arauc&aacute;ria Ltda., which owns the Arauc&aacute;ria Thermoelectric plant, a natural gas thermoelectric
power plant, located in the state of Paran&aacute;. The Arauc&aacute;ria Thermoelectric plant has 484.2 MW of installed capacity,
does not have Availability Agreements currently in force and operates under a business model in which revenue depends on the plant&rsquo;s
operation. When produced, energy will be sold in the Spot Market as directed by the ONS.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of November
2019, the plant may also have the possibility of being activated in the form of an assignment of energy credits, in accordance
with the agreement signed with Petr&oacute;leo Brasileiro SA - Petrobr&aacute;s and in accordance with Normative Resolution No.
614/2014 from ANEEL. Based on this agreement, in force until December 31, 2020, the plant may be dispatched outside of out-of-merit-order,
and the UTE Arauc&aacute;ria gas supplier will inform, weekly, if it will activate the plant. In this scenario, the order will
not be at the price of the CVU approved by ANEEL, but at a price agreed between the parties, considering, among other factors,
market opportunities and margins considered adequate for the plant's operation, thus enabling recovery fixed cost for the order
period.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">A
gas supply agreement was signed between Petr&oacute;leo Brasileiro S.A - Petrobras and UEG Arauc&aacute;ria</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ltda - UEGA. The agreement
is valid from February 21th to December 31th, 2020 and it provides for the delivery of up to 2,150,000 cubic meters of natural
gas per day, without take-or-pay clauses. As a result, TPP Arauc&aacute;ria will remain available to the National Interconnected
System - SIN and can therefore be dispatched at the discretion of ONS. However, UEG Arauc&aacute;ria signed an amendment to the
Transfer of Energy Credits agreement with Petr&oacute;leo Brasileiro S.A. - Petrobras, in accordance with ANEEL's Normative Resolution
No. 614/2014, for the same duration as the gas supply agreement. The amendment will allow the plant to be dispatched out-of-merit-order,
and the gas supplier will inform TPP Arauc&aacute;ria weekly whether it will activate the plant. In this context, dispatch will
not be charged at the CVU approved by ANEEL but at the value agreed by the parties, taking into account, among other factors, market
opportunities and margins considered adequate for the operation of the plant, thus enabling the recovery of the fixed cost related
to the dispatch period. With an installed capacity of 484 MW, the combined cycle power plant is one of the most efficient in Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">TPP Arauc&aacute;ria
was activated on March 8, 2020, according to the schedule for the operational week of ONS. The dispatch order is part of the exceptional
measures adopted at the meeting of March 4, 2020 by the Electric Sector Monitoring Comittee (&ldquo;CMSE&rdquo;) for the recovery
of hydroelectric reservoirs in the southern region of the country. The plant's remuneration, therefore, will be based on the Variable
Cost per Unit - CVU approved by ANEEL, in the amount of R$681.79/MWh.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Figueira</I>.
The Figueira plant is located in the city of Figueira, in the northeast of the state of Paran&aacute; (where the main coal basin
of Paran&aacute; is located). This plant is currently in a modernization process, which consists of replacing the old equipment
for new equipment. This process aims to make this plant more efficient, reduce emissions of gases and particles resulting from
the burning of coal and comply with applicable environmental legislation.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">After
the modernization, the plant will have the installed capacity of 20.0 MW with only one generating unit and the physical guarantee
of 17.7 MW, so that it is in compliance with Normative Resolution No. 801/2017, which defines a minimum efficiency of 25% for installations
with installed capacity up to 50.0 MW.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Expansion and Maintenance of Generating Capacity</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We expect to
spend R$654.1 million in 2020 to expand and maintain our generation capacity, including participation in new businesses, of which
R$118.6 million will be invested in SHP Bela Vista, , R$80.5 million will be invested in the Col&iacute;der Hydroelectric Power
Plant and R$25.8 million will be invested in the Baixo Igua&ccedil;u Hydroelectric Power Plant. The remaining amount will be spent
on equipment maintenance, the modernization of the HPP Foz do Areia, the modernization of the Figueira Thermal Power Plant] and
other projects.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><I>Hydroelectric Power Plant Projects</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have interests
in several hydroelectric generation projects. The following table sets forth information regarding our major hydroelectric generation
projects under construction.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Facility</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Installed
        capacity</B></P></TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Estimated</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>assured energy <SUP>(1)</SUP></B></P>
</DIV></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Budgeted
        completion cost</B></P></TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Beginning
        of operation</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Our
        ownership</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Status</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(MW)</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(GWh/year)</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(R$million)</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(%)</B></FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">SHP Bela Vista&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">29</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">145</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">200</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2024</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Concession granted</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Values used to determine volumes committed for sale.</TD></TR>
</TABLE>


<P STYLE="margin-top: 9pt; font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Bela
Vista</I>. In August 2018, we participated in the A-6 auction as a member of the Cons&oacute;rcio Bela Vista Gera&ccedil;&atilde;o
and sold 14.7 MW of the SHP Bela Vista, at a price of R$195.70 / MWh. With an estimated investment of R$200.0 million, the Bela
Vista SHP has 29 MW of installed capacity and 16.6 MW of assured</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">power and is under construction
in the Chopim river, in the S&atilde;o Jo&atilde;o and Ver&ecirc; Municipalities, located in the southwest of the State of Paran&aacute;.
The energy sales agreement will be in force as of January 1, 2024, for a 30-year term and will be subject to an annual readjustment
by the IPCA. The construction of this facility began in the first semester of 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Wind Farm Projects</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
following table sets forth information regarding our wind farm projects, all of which currently refer to the Janda&iacute;ra wind
farm (<I>Complexo E&oacute;lico Janda&iacute;ra</I>). In October 2019, Copel GeT and its subsidiary Cutia wind farm (<I>Cutia Empreendimentos
E&oacute;licos</I>) joined the Auction ANEEL A-6 for new energy generation and sold an average of 14.4 MW from the Janda&iacute;ra
wind farm for R$98.00 MW/h. We expect to invest R$400 million in this new wind farm, which has an installed capacity equivalent
to 90.1 MW and a physical guarantee equivalent to 47.6 MW. The Janda&iacute;ra wind farm will be built in the state of Rio Grande
do Norte, and, as other wind farm assets of Copel are located in the same region, we believe that this project may benefit from
operational synergies related to our projects that are already operating.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
amount of energy sold in October 2019 corresponds to 30% of the project&rsquo;s physical guarantee. Pursuant to the power purchase
agreement executed in connection with the above, such amount of energy shall be supplied as from January 1, 2025, this agreement
will be in force for 20 years and prices will be adjusted pursuant to the IPCA index. Any additional energy generated by the Janda&iacute;ra
wind farm will be negotiated in the Free Market.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Wind
        Farm</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Installed
        capacity</B></P></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Estimated
        Assured Power </B></P></TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Budgeted
        completion cost</B></P></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Beginning of commercial operation </B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Our
        ownership</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="margin-right: 0in; margin-left: -5.4pt; padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Concession</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>expires</B></P>
</DIV></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(MW)</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(Average MW)</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(R$million)</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>(%)</B></FONT></TD>
    <TD STYLE="padding-right: 0.45pt; padding-left: 5.4pt; line-height: 10.7pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Janda&iacute;ra</B>&#9;</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>90.1</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>47.6</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>400.0</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>January 1, 2025</B></FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>100.0</B></FONT></TD>
    <TD STYLE="padding-right: 0.45pt; line-height: 10.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>April 2055</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Janda&iacute;ra I&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">10,4 </FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5.3</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">January 1, 2025</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; padding-left: 5.4pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April 2055</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Janda&iacute;ra II&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">24,3</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">13.5</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">January 1, 2025</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; padding-left: 5.4pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April 2055</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 8.8pt; line-height: 150%; text-align: justify; text-indent: -1.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Janda&iacute;ra III&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.7</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.6</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">January 1, 2025</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; padding-left: 5.4pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April 2055</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: justify; text-indent: 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Janda&iacute;ra IV&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">27.7</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">14.2</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">January 1, 2025</FONT></TD>
    <TD STYLE="line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">100</FONT></TD>
    <TD STYLE="padding-right: 0.45pt; padding-left: 5.4pt; line-height: 10.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">April 2055</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Development
Projects</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are involved
in various initiatives to study the technical, economic and environmental feasibility of certain hydroelectric, wind, solar photovoltaic
and thermoelectric generation projects. The following table sets forth information regarding our proposed generation projects that
are considered feasible under a technical, economic, social, environmental and land-related perspective pursuant to the above-mentioned
studies.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B><BR STYLE="clear: both">
Proposed Projects<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Estimated
        Installed Capacity</B></P></TD>
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Estimated
        Assured Energy</B></P></TD>
    <TD STYLE="width: 14%; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Our Ownership</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(MW)</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>(GWh/yr)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; border-top: Black 0.5pt solid"><B>(%)</B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">HPP S&atilde;o Jer&ocirc;nimo&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.8pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">331.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 32.45pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,560.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 29.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">41.2</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">WPP Complexo Alto Oriente&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.8pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">60.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 32.45pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">247.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 29.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">HPP Salto Grande&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.8pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">47.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 32.45pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">235.8</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 29.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">99.9</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">SHP Salto Alem&atilde;&#9;</FONT></TD>
    <TD STYLE="padding-right: 26.8pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">29.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 32.45pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">173.8</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 29.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">19.0</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TOTAL&#9;</FONT></TD>
    <TD STYLE="padding-right: 22.85pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>467.0</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 32.45pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>2,217.3</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 29.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/106% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1pt"></TD><TD STYLE="width: 3%"><FONT STYLE="font-size: 8pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Do not include other proposed projects of Copel whose technical, economic,
social, environmental and land-related feasibility is still under analysis.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 9pt 0 12pt; text-align: justify; text-indent: 0.5in">Copel is also
a member of Consortium Gera&ccedil;&atilde;o Luz Paranaense - CGLP, which was granted with exploration rights related to the following
projects: (i) SHP Foz do Curucaca, (ii) SHP Salto Alem&atilde;, (iii) SHP</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Alto Chopim and (iv) SHP Rancho Grande.
After obtaining the applicable authorization from ANEEL and evaluating the hydraulic potential of each project, the consortium
decided to carry out the studies only with respect to SHP Salto Alem&atilde; and SHP Foz do Curucaca and to return the exploration
rights for SHP Alto Chopim and SHP Rancho Grande projects to ANEEL. The basic design of SHP Salto Alem&atilde; had already been
approved by ANEEL in 2017 and the environmental studies related to this project were registered in the competent entity for analysis
in October 2018. In December 2018, the basic design of SHP Foz do Curucaca was submitted to ANEEL approval.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Since 2017,
Santa Clara Ind&uacute;stria de Pasta e Papel Ltda. (&ldquo;Santa Clara&rdquo;) had demonstrated that it had no interest in maintaining
the partnership with COPEL in Dois Saltos Empreendimentos de Gera&ccedil;&atilde;o de Energia El&eacute;trica Ltda. (&ldquo;Dois
Saltos&rdquo;), a company that owns the rights to exploit SHP Dois Saltos. In October 2017, Santa Clara made an offer for the entire
stake held by COPEL in Dois Saltos. After engaging an independent consulting firm in January 2018 and determining the fair value
of its stake in Dois Saltos, COPEL presented to Santa Clara its terms for reaching an agreement. In October 2018, Santa Clara adjusted
its proposal, based on the conditions and price requested by COPEL. This proposal was accepted by the Board of Directors of COPEL
in November 2018, and a share purchase agreement was signed by the parties in December 2018. The closing of the transaction, with
the settlement of the amounts provided for in the contract and transfer of quotas, occurred in the first half of 2019.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In 2020, we
plan to bid for concessions to construct and operate new hydroelectric and solar photovoltaic plants or wind farms in power auctions
in the regulated market for new generation projects. We are studying the feasibility of our participation in the hydroelectric,
wind farms and solar photovoltaic projects planned to be listed in the auctions of 2020, or sell the energy in the unregulated
electricity market (Free Market). We will also conduct studies of new hydroelectric power plants. For instance, we have partnered
with <I>BE - Empresa de Estudos Energ&eacute;ticos S.A.</I>, <I>Minas PCH S.A.</I> and <I>SILEA Participa&ccedil;&otilde;es Ltda.</I>
to develop studies in the lower region of the Chopim River, which may lead to the development of another four (4) hydroelectric
projects. We are also conducting studies related to future government auctions for wind farms, solar photovoltaic and hydropower
plants, small hydroelectric plants and thermoelectric power plants in which we may eventually participate. Other renewable energy
projects under study or development include the use of municipal solid waste in power generation, and thermosolar energy. For instance,
since 2017, Copel has conducted solarimetric measurements in two solarimetric stations located in areas leased by Copel Brisa Potiguar.
The development of solar energy projects in such areas is still under analysis and the corresponding studies are expected to be
concluded as to be able to submit such projects to energy auctions in 2020.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are also
developing studies for the implementation / acquisition of projects related to Generation Distribution, Biomass (sugar cane and
forest residues), Biogas and Natural Gas. In addition to energy generation projects, investment opportunities in new energy transmission
assets whose concession will be auctioned by the Federal Government or existing assets that have synergy with the Company's current
portfolio are also being studied.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Transmission
and Distribution</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>General</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Electricity
is transferred from power plants to customers through transmission and distribution systems. Transmission is the bulk transfer
of electricity from generating facilities to the distribution system by means of the Interconnected Transmission System, in tension
greater than or equal to 230 kV. Distribution is the transfer of electricity to Final Customers, in tension lesser or equal to
138 kV.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table sets forth certain information concerning our transmission and distribution grids on the dates presented.</P>



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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>As
        of December 31,</B></P></TD></TR>
<TR>
    <TD STYLE="width: 45%; padding-left: 26.95pt; line-height: 106%; text-indent: -26.95pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2016</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2015</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 0.1in; line-height: 106%; text-indent: -0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Transmission lines (km):</B></FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>

<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">230 kV and 500 kV &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,074.6</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,025.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,691. 8</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,514.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,398.8</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">138 kV&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13.4</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.2</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">69 kV<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Distribution lines (km):</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">230 kV<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">165.5</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">129.6</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">138 kV&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,506.7</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,264.8</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,935.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,970.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,866.6</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">69 kV&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">755.6</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">751.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">866.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">695.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">695.3</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">34.5 kV&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">85,734.5</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">85,185.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">84,639.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">84,071.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">83,347.4</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13.8 kV&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">106,955.7</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">106,172.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">105,510.6</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">104,556.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">103,488.2</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Transformer capacity (MVA):</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Transmission and distribution substations (69 kV &ndash; 500 kV)<SUP>(3)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">23,860.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">22,825.1</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">22,849.3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">22,535.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">21,727.2</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Generation (step up) substations&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 16pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,691.0</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,355.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,335.0 </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,335.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,312.4</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Distribution substations (34.5 kV)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,545.8</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,502.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,537.9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,488.5</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,517.2</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Distribution transformers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13,800.9</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13,404.6</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12,956.9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12,548.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12,032.7</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Total energy losses<SUP>(4) (5)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.0%</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.3%</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.8%</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.1%</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.8%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">As approved by ANEEL in 2008, these 69 kV transmission lines held by Copel Distribui&ccedil;&atilde;o were transferred to Copel
Gera&ccedil;&atilde;o e Transmiss&atilde;o, since they were part of our transmission business segment.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">Due to improvements to registration and control systems used by Copel Distribui&ccedil;&atilde;o to classify and register its
transmission lines, lines were classified pursuant to its insulation voltage, and not according to its structure and isolate components.
Consequently, all lines previously registered by Copel Distribui&ccedil;&atilde;o were reclassified and there are no lines classified
as 230 kV anymore.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">This figure includes transformers with primary tensions of 69 kV and 138 kV which belong to Copel Distribui&ccedil;&atilde;o but
are implemented in 230 kV and 525 kV substations, which belong to Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(4)</SUP></TD>
    <TD STYLE="text-align: justify">Percentage of losses on the energy injected in the distributor (technical and non-technical losses on injected energy). Does not
consider losses in the basic network.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(5)</SUP></TD>
    <TD STYLE="text-align: justify">We note that percentages measured until 2016 and reported in previous reports of the Company reflected the amounts of physical
losses (Technical), commercial losses (Non-Technical) and losses on the basic network (allocation of agreements on the gravity
center of the submarket) of Copel Distribui&ccedil;&atilde;o, as well as the losses related to the allocation of agreements of
Copel GeT. Those percentages were calculated taking into account the total of power purchased and sale agreements entered into
by both Copel Distribui&ccedil;&atilde;o and Copel GeT. For a better representation and comparison of the percentage of losses,
we considered the percentage obtained by dividing the total amount of technical and non-technical losses by the energy injected
into the network of Copel Distribui&ccedil;&atilde;o. This percentage may be compared to other companies and has a more accurate
physical meaning as it utilizes the database of measured data and not information taken from agreements of the period being analyzed.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Transmission</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our transmission
system consists of all our assets of 230 kV and greater and a small portion of our 69 kV and 138 kV assets, which are used to transmit
the electricity we generate and the energy we receive from other sources. In addition to using our transmission lines to provide
energy to customers in the State of Paran&aacute;, we also transmit energy through the Interconnected Transmission System. Two
companies owned by the federal government, Companhia de Gera&ccedil;&atilde;o e Transmiss&atilde;o de Energia El&eacute;trica do
Sul do Brasil &ndash; CGT Eletrosul and Furnas, also maintain significant transmission systems in the State of Paran&aacute;. Furnas
is responsible for the transmission of electricity from Itaipu, while CGT Eletrosul&rsquo;s transmission system links the states
in the south of Brazil. Copel, like all other companies that own transmission facilities, is required to allow third party access
to its transmission facilities in exchange for compensation at a level set by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Currently,
we carry out the operation and maintenance of 3,382 km of transmission lines, forty one (41) substations in the State of Paran&aacute;
and two (2) substation in the State of S&atilde;o Paulo. In addition, we have partnerships with other companies to operate 4,028
km of transmission lines and seven (7) substations through special purpose companies (SPCs).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The table below
sets forth information regarding our transmission assets in operation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 1pt solid"><B>Subsidiary
        / SPC</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0 0.45pt; text-align: center; text-indent: -0.45pt; border-bottom: Black 1pt solid"><B>Transmission
        Lines</B></P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 1pt solid">

        <P STYLE="font: 8pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt"><B>TL Extension</B></P>
        <P STYLE="font: 8pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt"><B>(km)<SUP>5</SUP></B></P>
</DIV></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt; border-bottom: Black 1pt solid"><B>Number
        of Substations</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0; border-bottom: Black 1pt solid"><B>Concession
        Expiration Date</B></P></TD>
    <TD STYLE="width: 81px; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0; border-bottom: Black 1pt solid"><B>Our
        Ownership</B></P></TD>
    <TD STYLE="width: 83px; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0; border-bottom: Black 1pt solid"><B>APR
        &sup1;<BR>
        (R$million)</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Main Transmission Concession<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">469.5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Bateias - Jaguariaiva</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">137</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2031</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10.9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Bateias - Pilarzinho</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 2038</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Foz - Cascavel Oeste</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">116</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2039</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12.5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Cerquilho III Substation</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2040</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5.1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.65pt">TL Londrina &ndash;
        Figueira</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.65pt">Foz do Chopim &ndash;
        Salto Os&oacute;rio</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">102</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6.1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt">TL Assis &ndash; Paragua&ccedil;u
        Paulista</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt">Paragua&ccedil;u Paulista
        II Substation</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">83</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">February, 2043</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.2</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt">Curitiba Norte Substation</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.65pt">TL Bateias &ndash;
        Curitiba Norte</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">31</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2044</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">100.0%</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">9.9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt">Realeza Sul Substation</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.65pt">TL Foz do Chopim- Realeza
        Sul</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">52</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">September, 2044</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">100.0%</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">7.8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Assis &ndash; Londrina</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">122</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">September, 2044</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">100.0%</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">20.4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Araraquara II &ndash; Taubat&eacute;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">334</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">October, 2040</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">100.0%</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">31.4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">COPEL GeT</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt">TL Baixo Igua&ccedil;u
        &ndash; Realeza</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt">TL Curitiba Centro -
        Uberaba</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">46</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3</FONT></TD>
    <TD STYLE="white-space: nowrap; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">April, 2046</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">100%</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">79.0</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Uirapuru </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 106%">(Copel GeT &ndash; 100%)<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Ivaipor&atilde; - Londrina</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">120</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 2035</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">32.4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Costa Oeste </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 106%">(Copel GeT &ndash; 100%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">LT Cascavel Oeste - Cascavel Norte<BR>
TL Cascavel Norte - &nbsp;Umuarama Sul</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">152</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12.5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Marumbi &nbsp;&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 106%">(Copel GeT &ndash; 100%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Curitiba &ndash; Curitiba Leste</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">29</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">19.5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Subtotal Copel GeT</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>3,382</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>43</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>726.3</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Caiu&aacute; Transmissora</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Gua&iacute;ra - Umuarama Sul <BR>
TL Cascavel Norte - Cascavel Oeste<BR>
Santa Quit&eacute;ria Substation / Cascavel Norte Substation</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">142</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">49.0%<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">11.6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Integra&ccedil;&atilde;o Maranhense</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">LT A&ccedil;ailandia-Miranda II</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">365</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">49.0%<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">17.1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Matrinch&atilde;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">TL Parana&iacute;ta - Ribeir&atilde;ozinho</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,005</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">49.0%<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">91.52</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Guaraciaba</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">TL Ribeir&atilde;ozinho - Marimbondo</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">600</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">49.0%<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">49.5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Parana&iacute;ba</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Barreiras II - Pirapora II</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">953</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2043</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">24.5%<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">33.5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Cantareira</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Estreito &ndash; Fern&atilde;o Dias</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">342</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">September, 2044</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">49.0%<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">50.1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Mata de Santa Genebra<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.65pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Araraquara II - Atatiba <BR>
TL Bateias - Atatiba</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>621</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">50.1%<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">80.8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Subtotal SPCs</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>4,028</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>7</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>334.1</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 8.75pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>7,410</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>50</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 106%; text-align: center; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>1,060.4</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify; text-indent: -17.85pt"><SUP>&nbsp;</SUP></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Our main transmission concessions encompasses several transmission lines.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">In March 2019, Copel GeT signed a purchase and sale agreement with Centrais El&eacute;tricas Brasileiras SA and Funda&ccedil;&atilde;o
Eletrosul de Previd&ecirc;ncia e Assistencial Social - Elos to transfer 100% of shares issued by SPE Uirapuru Transmissora de
Energia S.A.. In June, 2019 Copel GeT took over the stake control of the company.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">Refers to the equity interest held by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><SUP>(4)</SUP></TD>
    <TD>Refers to transmission lines that are already in commercial operation, representing 66.2% of the project's total RAP</TD></TR>
</TABLE>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(5)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Considers double circuits as a single extension</FONT>.</TD></TR>
</TABLE>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt"><B><I>Expansion and Maintenance of Transmission Facilities</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The construction
of new transmission facilities of 230 kV and higher must be awarded in a bidding process or otherwise authorized by ANEEL. We are
permitted by ANEEL to make minor improvements to some of the existing 230 kV and 500 kV facilities.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">In November 2013, SPC Mata de Santa
Genebra Transmissora, a strategic partnership between Copel (50.1%) and Furnas (49.9%), won the right to build and operate 847
km of transmission lines and three substations in the States of Paran&aacute; and S&atilde;o Paulo. The construction schedule of
the Mata de Santa Genebra project was affected by successive vandalism events, which resulted in the collapse of towers and theft
of aluminum cables in transmission lines already installed and commissioned, in different sections of the project. On February
25, 2019, all the stages planned for the test run period of the Santa B&aacute;rbara d&rsquo;Oeste substation (300MVar/-300MVar
static compensator), belonging to the SPE Mata de Santa Genebra, were concluded, allowing the operation of this substation under
the commercial operation regime. The Annual Permitted Revenue (APR) related to the Santa B&aacute;rbara d&rsquo;Oeste substation
is R$10.8 million. On March 28, 2020 the transmission line 500 kV Araraquara 2 &ndash; Itatiba (207 Km of extension), the transmission
line 500kV Itatiba &ndash;Bateias (414 km of extension) and the Itatiba substation (300 MVar) started the commercial operations.
Thus, together with Santa Ba&#769;rbara d&rsquo;Oeste substation, the SPC Mata de Santa Genebra is authorized to receive an APR
of R$161.3 million, approximately 66.2% of the total APR. The transmission line 500kV Araraquara 2 &ndash; Fern&atilde;o Dias and
the Fern&atilde;o Dias SE are scheduled to become fully operational by May, 2020. The project&rsquo;s total expected APR is R$243.5
million, of which R$122.0 million related to COPEL's stake, and full receipt is subject to the startup of the other stages of the
project.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">In November 2015,
Copel GeT won ANEEL&rsquo;s public auction No. 005/2015 for the construction and operation of 188 km of transmission lines in the
States of Paran&aacute; and Santa Catarina, and three (3) substations in the State of Paran&aacute;, with a total capacity of 900
MVA. With an APR of R$116.9 million, the corresponding concession agreement was signed in April 2016, and, except for the transmission
line Blumenau &ndash; Curitiba Leste, which is still under construction and scheduled to become operational in March 2021, the
remaining facilities are already in commercial operation.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.3pt; margin-right: 0; margin-left: 0">The
table below summarizes information regarding our transmission assets currently under construction:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Subsidiary
        / SPC</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Transmission
        Lines</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>State</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Km*</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Number
        of Substations</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Our
        Ownership</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Beginning
        of Operation (expected)</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">COPEL GeT</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">TL Curitiba Leste-Blumenau</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">PR/SC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">142</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">100.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 2021</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Subtotal Copel GeT</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>142</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>3</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Mata de Santa Genebra</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TL Araraquara II - Bateias</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">SP / PR</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">264</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">50.1%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Subtotal SPC</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>264</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>1</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total </B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>406</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>4</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">* Proportional to the section under
construction.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Distribution</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our distribution
system consists of a widespread network of overhead lines and substations with voltages up to 138 kV assets. Higher Voltage electricity
is supplied to bigger industrial and commercial customers and lower voltage electricity is supplied to residential, small industrial,
and commercial customers in addition to other customers. As of December 31, 2019, we provided electricity in a geographic area
encompassing approximately 97% of the State of Paran&aacute; and served 4.7 million customers.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our distribution
grid includes 199,953 km of distribution lines, 440,691 distribution transformers and 227 distribution substations of 34.5 kV,
36 substations of 69 kV and 111 substations of 138 kV. During 2019, 75,436 new captive customers were connected to our network,
including customers connected through the rural and urban electrification programs. We are continuing to implement compact grid
design distribution lines in urban areas with large concentration of trees in the vicinity of the distribution grid.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have two
(2) captive customers that are directly supplied with energy at a high voltage (69 kV and above) through connections to our distribution
lines. These customers accounted for approximately 0.7% of the total volume of electricity sold by Copel in 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are also
responsible for expanding the 138 kV and 69 kV distribution grid within our concession area to meet any future demand growth.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On October
16, 2019 Copel Distribui&ccedil;&atilde;o launched a program to modernize its distribution grid called &ldquo;Transformation Program&rdquo;
(<I>Programa Transforma&ccedil;&atilde;o</I>). The Transformation Program is comprised of three projects: &ldquo;Total Reliability&rdquo;
(Confiabilidade Total), &ldquo;Three-phase Paran&aacute;&rdquo; (Paran&aacute; Trif&aacute;sico) and &ldquo;Smart Grid Copel&rdquo;.
The goal is to improve infrastructure, particularly in rural areas, in order to enhance quality of energy supply and reduce supply
restoration period in case of power outages. With investments of up to R$2.9 billion until 2025, which shall compose the Regulatory
Remuneration Base, the Transformation Program involves the construction of approximately twenty-five 25,000 kilometers of power
grids, 15,000 new automated power connections and the setting up of smart grid technology in the State of Paran&aacute;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Performance of the Distribution
System</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Total
losses are commonly divided into a technical and non-technical component. Technical losses are inherent to the transportation of
electricity and consist mainly of power dissipation in the line network. Non-technical (or commercial) losses are caused by actions
external to the power system (for instance, electricity theft). Since total losses are comprised of both technical and non-technical
parcels, the latter is easily calculated as the difference between total losses and the estimated technical losses inherent to
the system.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Total
losses in our distribution system are segmented between (i) losses in the basic network (tension equal to or greater than 230kV),
which are external to our distribution grid and have a technical cause, and (ii) losses in the distribution network (internal to
our distribution grid), which are usually caused by both technical and non-technical reasons.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Losses
in the basic network are calculated monthly by the CCEE as the difference between the total generation and the energy effectively
delivered to the distribution networks. The total losses from our distribution grid are calculated as the difference between the
energy allocated to the system and the energy supplied to the customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
total energy distribution losses (including transmission system, technical and commercial losses) totaled 8.4% of the total energy
amount available in 2019, being (i) 1.4% related to losses in the basic network, (ii) 6.0% of technical losses and (iii) 1.0% of
non-technical losses.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">ANEEL
grants the transfer of all energy losses to the final consumers when the real losses are less than regulatory losses. The calculation
is made within the regulatory period, that is different from a civil year, and thereby we will know the result just in the next
tariff adjustment, in June 2020. But our simulation indicates that in the civil year, from January through December 2020, we will
have all losses transferred to the final consumers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">Furthermore,
ANEEL requires distributors to observe certain standards for &ldquo;energy supply continuity&rdquo;, namely (i) duration of outages
per customer per year or DEC &ndash; <I>Dura&ccedil;&atilde;o Equivalente de Interrup&ccedil;&atilde;o por Unidade Consumidora</I>
and (ii) frequency of outages per customer per year or FEC &ndash; <I>Frequ&ecirc;ncia Equivalente de Interrup&ccedil;&atilde;o
por Unidade Consumidora</I>. Information regarding the duration and frequency of outages for our customers is set forth in the
following chart for the years indicated.</P>


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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

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<TR>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-bottom: 8pt; line-height: 106%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.25pt solid"><B>Quality
        of supply indicator</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.25pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.25pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.25pt solid"><B>2017</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.25pt solid"><B>2016</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.25pt solid"><B>2015</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0 8.6pt; text-indent: -7.9pt">DEC &ndash; Duration of outages
        per customer per year</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0 8.6pt; text-indent: -7.9pt">(in hours)&#9;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">09h07min</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10h19min</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10h28min</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10h49min</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13h40min</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 8.6pt; line-height: 106%; text-indent: -7.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">FEC &ndash; Frequency of outages per customer per year (number of outages)&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6.02</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6.22</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6.83</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.23</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.33</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">We
comply with the quality indicators defined by ANEEL for 2019, which penalizes power outages in excess of an average number of hours
per customer, in each case calculated on an annual basis. These limits vary depending on the geographic region, and the average
limit established by ANEEL for our distribution company was 9 hours and 07 minutes of outages per customer per year, and a total
of 6.22 outages per customer per year. Failure to comply with these predetermined standards with a Final Customer results in a
reduction of the amount we can charge such Final Customer in future periods.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify; text-indent: 0.5in">In addition,
quality target indicators are taken into consideration by ANEEL during distribution concession renewal proceedings, and also influence
ANEEL&rsquo;s calculation of our tariff adjustments. For more information, see &ldquo;Distribution Concessions&rdquo; and &ldquo;Distribution
Tariffs&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Purchases for the captive market</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table contains information concerning volume, cost and average tariff for the main sources of the electricity we purchased for
the captive market in the last three years.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Source</B></P></TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><I>Itaipu</I></B></FONT></TD>
    <TD STYLE="line-height: 11.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 11.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -40.85pt; line-height: 11.4pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Volume (GWh)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,533</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,726&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,934</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Cost (R$millions)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,317</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,272.2 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,118.0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Average tariff (R$/MWh)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">238</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">222.18 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">188.41</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; line-height: 11.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><I>Angra</I></B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Volume (GWh)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">979</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,009 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,023</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Cost (R$millions)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">248</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">250.3 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">231.7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Average tariff (R$/MWh)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">253</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">248.07 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">226.49</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; line-height: 11.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><I>CCGF</I></B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 11.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 11.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 11.25pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Volume (GWh)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,274</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,520 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,271</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Cost (R$millions)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">642</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">593.0 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">447.5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Average tariff (R$/MWh)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">102.32</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">90.95 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">61.55</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; line-height: 11.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B><I>Auctions in the regulated market</I></B></FONT></TD>
    <TD STYLE="line-height: 11.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 11.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 11.25pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Volume (GWh)<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12,515</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,783 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9,860</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Cost (R$millions)<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,257</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,080.8 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,014.8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Average tariff (R$/MWh)&#9;</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">180.34</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">192.97 </FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">204.34</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">These numbers do not include assignments related to MCSD-EN and MVE.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">These numbers do not include short-term energy purchased through the CCEE.</TD></TR>
</TABLE>

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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.5in"><I>Itaipu&#9;</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We purchased
5,533 GWh of electricity from Itaipu in 2019, which constituted 11.3% of our total available electricity in 2019 and 21.1% of Copel
Distribui&ccedil;&atilde;o&rsquo;s total available electricity in 2019. Our purchases represented approximately 9.2% of Itaipu&rsquo;s
total production. Distribution companies operating under concessions in the midwest, south and southeast regions of Brazil are
required by law to purchase Brazil&rsquo;s portion of the energy generated by Itaipu in a proportion that correlates with the volume
of electricity that they provide to customers. The rates at which these companies are required to purchase Itaipu&rsquo;s energy
are fixed to cover Itaipu&rsquo;s operating expenses and payments of principal and interest on Itaipu&rsquo;s U.S. dollar-denominated
borrowings, as well as the cost of transmitting the power to their concession areas. These rates are denominated in U.S. dollars,
and have been set for 2020 at US$28.41 per kW per month.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In 2019, we
paid an average tariff of R$237.94/MWh for energy from Itaipu, compared to R$227.03/MWh in 2018. These figures do not include the
transmission tariff that distribution companies must pay for the transmission of energy from Itaipu.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>ANGRA</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Because Eletronuclear renewed
the generation concession of Angra under the 2013 Concession Renewal Law, the energy generated by Angra is no longer sold in auctions
in the regulated market. Rather, under the 2013 Concession Renewal Law, this energy is sold to distributors in accordance with
the quota system established by said law. For more information, see &ldquo;Item 4. Information on the Company&mdash;The Brazilian
Electric Power Industry&rdquo;. As a result, Copel Distribui&ccedil;&atilde;o was legally required to purchase 979 GWh from Angra
in 2019, 1,009 GWh from Angra in 2018 and 1,023 GWh in 2017.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Assured
Power Quota Contract</I> &ndash; CCGF</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Under
the 2013 Concession Renewal Law, certain generation concessionaires renewed their concession contracts, and therefore these concessionaires
no longer sell the energy produced by these generation facilities at auctions in the regulated market. Rather, this energy is sold
to distribution companies in accordance with the quota system established by the 2013 Concession Renewal Law. For more information,
see &ldquo;Item 4. Information on the Company&mdash;The Brazilian Electric Power Industry&rdquo;. Copel Distribui&ccedil;&atilde;o
is obligated to purchase energy from these generation concessionaires that have renewed generation concessions under this quota
system. Copel Distribu&ccedil;&atilde;o was legally required to purchase 6,274 GWh in CCGF contracts in 2019, 6,520 GWh in CCGF
contracts in 2018 and 7,271 GWh in CCGF contracts in 2017.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Auctions
in the Regulated Market</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In 2019, we
purchased 12,514 GWh of thermoelectric and hydroelectric energy through auctions in the regulated market. This energy represents
48% of the total electricity purchased by the Copel Distribui&ccedil;&atilde;o. For more information on the regulated market and
the Free Market, see &ldquo;Item 4. Information on the Company&mdash;The Brazilian Electric Power Industry&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Sales to Captive Customers</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">During 2019,
we supplied approximately 98.6% of the energy distributed directly to Captive Customers in the State of Paran&aacute;. Our concession
area includes nearly 4.7 million customers located in the State of Paran&aacute; and in one municipality in the State of Santa
Catarina, located in the south of the State of Paran&aacute;. During 2019, the total power consumption of our Captive Customers
was 19,784 GWh, a 1.0% increase as compared to 19,594 GWh during 2018.</P>



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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: bottom">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year&nbsp;ended
        December 31,</B></P></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Categories
        of purchaser</B></P></TD>
    <TD STYLE="width: 11%">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2016</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2015</B></P></TD></TR>

<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(GWh)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Industrial customers&#9;</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,648</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,935</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,254</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,753</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,929</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Residential&#9;</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,499</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,238</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,126</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,932</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,957</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Commercial&#9;</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,730</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,652</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,651</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,059</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,530</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Rural&#9;</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,361</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,288</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,257</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,180</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,256</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,546</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,481</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,455</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,404</FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,371</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total<SUP>(2)</SUP></B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">19,784</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>19,594</B></FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>19,743</B></FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>22,327</B></FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>24,043</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Includes public services such as street lighting, electricity supply for municipalities and other governmental agencies, as well
as our own consumption.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">Total GWh does not include our energy losses.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.25in"><B>Sales
to Free Customers</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 0.3in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We operate
in the Free Energy Contracting Environment (&ldquo;ACL&rdquo;) through our wholly owned subsidiaries Copel Gera&ccedil;&atilde;o
e Transmiss&atilde;o and Copel Comercializa&ccedil;&atilde;o. As of December 31, 2019, we had 425 Free Customers (of which 375
were customers of our energy trading company and 50 of Copel GeT), representing approximately 5.7% of our consolidated operating
revenue and approximately 13.8% of the total quantity of electricity sold by us. During 2019, the total power consumption of our
Free Customers was 6,860 GWh, a 13.3% increase as compared to 6,055 GWh during 2018.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year&nbsp;ended
        December 31, </B></P></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Categories
        of purchaser</B></P></TD>
    <TD>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2016</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2015</B></P></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(GWh)</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Industrial customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,352</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,728</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,435</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,821</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,894</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Commercial&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">508</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">327</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">196</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total</B>&#9;</FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>6,860</B></FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>6,055</B></FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>4,631</B></FONT></TD>
    <TD STYLE="padding-right: 1.25pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>3,823</B></FONT></TD>
    <TD STYLE="padding-right: 2.15pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>3,906</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-top: 0; margin-right: 0; margin-left: 0">The
following table sets forth the number of our Final Customers, considering both Captive and Free Customers, in each category as
of December 31, 2019.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="background-color: white">
    <TD STYLE="width: 68%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Category</B></P></TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Number
        of Final Customers</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Industrial&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">72.328</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Residential&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,825,989</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Commercial&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">406,856</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Rural&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">349,914</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">58,578</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,713,665</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Includes street lighting, as well as electricity for municipalities and other governmental agencies, public services and own consumption.</TD></TR>
</TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Industrial
and commercial customers accounted for approximately 12.2% and 20.8%, respectively, of our total revenues from sales to Final Customers
during 2019. In 2019, 31.8% of our total revenues from energy sales were from sales to residential customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Tariffs</I></B></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Retail Tariffs.
</I>We classify our customers in two groups (&ldquo;Group A Customers&rdquo; and &ldquo;Group B Customers&rdquo;), based on the
voltage level at which electricity is supplied to them and on whether they are considered as industrial, commercial, residential
or rural customers. Each customer falls within a certain tariff level defined by law and based on the customer&rsquo;s classification,
although some flexibility is available according to the nature of each customer&rsquo;s demand. Under Brazilian regulation, low
voltage customers such as residential customers (other than Low-income Residential Customers, as defined as follows) pay the highest
tariff rates, followed by 13.8 kV and 34.5 kV voltage customers (usually commercial customers), and 69 kV and 138 kV voltage customers
(usually industrial customers).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Group A Customers
receive electricity at 2.3 kV or higher and the tariffs applied to them are based on the actual voltage level at which energy is
supplied and the time of day the energy is supplied. Tariffs are comprised of two components: a &ldquo;capacity charge&rdquo; and
an &ldquo;energy charge&rdquo;. The capacity charge, expressed in <I>reais </I>per kW, is based on the higher of (i) contracted
firm capacity and (ii) power capacity actually used. The energy charge, expressed in <I>reais </I>per MWh, is based on the amount
of electricity actually consumed as evidenced by our metering.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Group B Customers
receive electricity at less than 2.3 kV, and the tariffs applied to them are comprised solely of an energy charge and are based
on the classification of the customer.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">ANEEL restates
our tariffs annually, usually in June. For more information about the distribution tariff adjustments that have been made by ANEEL
in recent years, see &ldquo;Item 5. Operating and Financial Review and Prospects&mdash;Overview&mdash;Rates and Prices&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table sets forth the average tariffs for each category of final customer in effect in 2019, 2018 and 2017.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="width: 57%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Tariffs</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(R$/MWh)</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Industrial&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">488.78</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">767.87 </FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">389.04</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Residential&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">504.36</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">505.08</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">425.26</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Commercial&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">574.41</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">527.31</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">419.27</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Rural&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">466.9</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">345.80</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">286.96</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">364.49</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">375.99</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">311.37</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>All Final Customers</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">534.32</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>514.94</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>387.90</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Low-income
Residential Customers</I>. Under Brazilian law, we are required to provide low level rates to certain low-income residential customers
(&ldquo;Low-income Residential Customers&rdquo;). In December 2019, we served approximately 292,173 low-income residential customers.
For servicing these customers, in 2019 we received an approximately R$70.3 million grant from the Brazilian Federal Government,
which was approved by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table sets forth the current minimum discount rates approved by ANEEL for each category of Low-income Residential Customer.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 70%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Consumption</B></P></TD>
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Discount
        from base tariff</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Up to 30 kWh per month&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">65%</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">From 31 to 100 kWh per month&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">40%</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">From 101 to 220 kWh per month&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Special
Customers. </I>A customer of our distribution business that consumes at least 500 kW (a &ldquo;Special Customer&rdquo;) may choose
its energy supplier if that supplier derives its energy from alternative sources, such as small hydroelectric plants, wind plants
or biomass plants. A Special Customer that chooses to purchase energy from a supplier other than Copel Gera&ccedil;&atilde;o e
Transmiss&atilde;o continues to use our distribution grid and pay our distribution tariff. However, as an incentive for Special
Customers to purchase from alternative sources, we are</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">required to reduce the tariff paid by Special
Customers by 50%. This discount is subsidized by the Brazilian federal government, and therefore does not impact the revenues of
our distribution business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Transmission
Tariffs</I>. A transmission concessionaire is entitled to annual revenues based on the transmission network it owns and operates.
These revenues are annually readjusted according to criteria stipulated in the concession contract. We are directly a party to
twelve (12) transmission concession contracts, eleven (11) of which are in the operational stage and one (1) of which includes
a transmission line that is still under construction. Not all of the transmission concession contracts employ the same revenue
model. 1.5% of our transmission revenues are updated on an annual basis by the IGP-M and the other 98.5% are subject to the tariff
review process.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The first periodic
revision related to our main transmission concession scheduled for 2005 was only carried out in 2007, at which point ANEEL reduced
the tariffs by 15.08%. This adjustment was applied retroactively to July 2005, and was passed on to our final customers until June
2009. In addition, in July 2010 pursuant to a second periodic revision of our principal concession, ANEEL granted provisional approval
of a reduction in our transmission tariff by 22.88%, applied to the revenues of new installations in the Interconnected Transmission
System, and applied retroactively from July 1, 2009 onward. In June 2011, ANEEL reviewed the figures of the second periodic revision
and reduced the annual revenues by 19.94%. The remainder of our annual revenues was subject to adjustment by IGP-M or IPCA, as
applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">By late 2012,
Copel decided to anticipate the extension of its main transmission concession agreement (corresponding to 78% of the Company&rsquo;s
transmission lines then in operation) that would expire in 2015, pursuant to the new rules of the 2013 Concession Renewal Law.
In December 2012, Copel executed the Third Addendum to the Concession Agreement 060/2001, extending this transmission concession
agreement until December 31, 2042. In order to adjust these assets&rsquo; annual permitted revenue to the new rules of 2013 Concession
Renewal Law, ANEEL reduced the transmission tariffs we charged by 61.9%.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Of
all our transmission concessions in operational stage, our main transmission concession (which involves our main transmission facilities)
accounted for about 71% of our gross transmission revenues in 2019. In addition, we have ten (10) concession agreements for transmission
lines and substations in operation and one (1) partially in operation, which correspond to an aggregate of 29% of our transmission
revenues. The amount of revenues we are entitled to receive pursuant to one (1) of these contracts is updated on an annual basis
by the IGP-M and is not subject to the tariff review process, but, pursuant to the terms set forth in this agreement, our revenues
were reduced by 50% starting in June 2018. Other ten (10) agreements revenues are subject to the tariff review process and adjustments
by the IPCA.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
relation to our main concession agreement, on April 22, 2016, Ordinance No. 120/2016 of the Ministry of Mines and Energy determined
that the amounts ratified by ANEEL related to the non-depreciated transmission assets existing on May 31, 2000 (Existing Basic
Network System &ldquo;RBSE&rdquo;) should be incorporated to the Regulatory Remuneration Base, and that their cost of capital should
be added to APR. The Ordinance also determined that the cost of capital would be composed of compensation and depreciation installments,
plus related taxes, and recognized as of the 2017 tariff revision process, with adjustments and revisions in accordance with contractual
conditions.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Also
pursuant to the above mentioned Ordinance, the cost of capital not incorporated between the concessions&rsquo; extensions and the
2017 tariff revision process should be restated at the real cost of own capital of the transmission segment defined by ANEEL (10.4%)
and, after the tariff revision process, it should be remunerated at the Weighted Average Cost of Capital (WACC) of 6.6%, also defined
by that agency.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
May 9, 2017, ANEEL approved the result of the inspection of the appraisal report of the transmission assets existing on May 31,
2000 (RBSE and Other Transmission Facilities - RPC) related to our main transmission concession agreement. The Agency recognized
the amount of R$667.6 million as the net value of the assets for the purposes of indemnification as of December 31, 2012. As of
December 31, 2017, the net value of those assets for the purposes of indemnification amounted to R$1,418.4 million.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
June 27, 2017, ANEEL approved the Annual Permitted Revenue (<FONT STYLE="line-height: 106%"><I>Receita Anual Permitida</I>, or</FONT>
APR) of the transmission assets of Copel GeT for the 2017/2018 cycle, including the commencement of receipt of the RBSE indemnification
of our main transmission concession agreement.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
2017(i) our main transmission concession agreement was adjusted by the IPCA and by the portion related the commencement of receipt
of the RBSE indemnification (average increase of 151.3%) (ii) one of our transmission concession agreements was adjusted by the
IPCA and improvements to the system were approved by ANEEL (average increase of 3.7%), (iii) six transmission concession agreements
were adjusted by the IPCA (3.6%), (iv) one transmission concession agreement was adjusted by the IGP-M (1.6%), and (v) one transmission
agreement became operational in August 2017, adding R$18.9 million of annual permitted revenues. As a result, the annual permitted
revenues for the 2017/2018 cycle for our transmission assets reflected an increase of 121.2% over our annual permitted revenues
for the 2016/2017 cycle.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify; text-indent: 0.5in">In June 2018,
ANEEL approved the APR for the 2018/2019 cycle, considering (i) an adjustment of relevant amounts by the IGP-M and IPCA indexes,
and (ii) the expansion of our transmission system with strengthening works and revenues from other works classified as improvement
measures.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 5pt 0; text-align: justify; text-indent: 0.5in">Compared to our
total APR for the 2017/2018 cycle, the APR of our main concession for the 2018/2019 cycle was reduced by 8.1%, as a result of the
correction of a prior calculation made by ANEEL, which take into account certain financial and economic portions of unamortized
and unrepaired assets related to the RBSE when determining the assets of the Regulatory Remuneration Base in the prior cycle.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
APR of concession No. 075/2001 was reduced by approximately 30.5%, as a result of a 50% reduction of the APR starting at the 16<SUP>th</SUP>
anniversary of commercial operation, which occurred during the 2018/2019 cycle. Two of our concession agreements (022/2012 and
002/2013) were subject to a periodic review, which resulted in a lower APR in connection with increasing revenues related to strengthening
works.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
June 2019, ANEEL approved the APR for the 2019/2020 cycle, considering (i) an adjustment of relevant amounts by the IGP-M and IPCA
xes, and (ii) the expansion of our transmission system with strengthening works and revenues from other works classified as improvement
measures.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
table below shows our APR (R$ million) for the last four cycles of transmission lines over which we hold a 100% ownership:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Contract</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Transmission Line /</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Substation</B></P>
</DIV></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Jul.
        2019 Jun.2020</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jul. 2018</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jun. 2019</B></P>
</DIV></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jul. 2017</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jun. 2018</B></P>
</DIV></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jul.2016</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Jun.2017</B></P>
</DIV></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; line-height: 150%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>APR (R$ million)</B></FONT></TD></TR>
<TR>
    <TD STYLE="background-color: white; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">060/2001</FONT></TD>
    <TD STYLE="background-color: white; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Main Transmission Concession<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">469.5</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">450.4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">482.7</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">192.1</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">075/2001</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Bateias &ndash; Jaguariaiva</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">10.9</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">13.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">19.4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">19.1</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: white; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">006/2008</FONT></TD>
    <TD STYLE="background-color: white; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Bateias &ndash; Pilarzinho</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.1</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.0</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1.0</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">027/2009</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Foz do Igua&ccedil;u - Cascavel Oeste</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">12.5</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">11.9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">11.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">11.2</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; background-color: white; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">015/2010</FONT></TD>
    <TD STYLE="background-color: white; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Cerquilho III</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5.1</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4.8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4.7</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">4.5</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">022/2012</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Foz do Chopim &ndash; Salto Os&oacute;rio</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">6.1</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5.8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5.8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">5.6</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">002/2013</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center">Assis-Paragua&ccedil;u Paulista II</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center">SE Paragua&ccedil;u Paulista II</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">8.2</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.7</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.7</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">005/2014</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Bateias &ndash; Curitiba Norte</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9.9</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">9.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">8.7</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">8.4</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">021/2014</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Foz do Chopim - Realeza<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.8</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.3</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">7.1</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">022/2014</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Assis &ndash; Londrina<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">20.4</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">19.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">18.9</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">010/2010</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Araraquara 2 &ndash; Taubat&eacute;<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">31.4</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">30.0</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">006/2016</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center">Baixo Igua&ccedil;u &ndash; Realeza</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center">Curitiba Centro - Uberaba</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">79.0</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; width: 15%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total</B></FONT></TD>
    <TD STYLE="width: 29%; line-height: 106%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 14%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>661.9</B></FONT></TD>
    <TD STYLE="width: 14%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>561.9</B></FONT></TD>
    <TD STYLE="width: 14%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>567.8</B></FONT></TD>
    <TD STYLE="width: 14%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>256.7</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><SUP>(1)</SUP></TD>
    <TD>Our main transmission concessions encompasse several transmission lines.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><SUP>(2)</SUP></TD>
    <TD>This transmission line became operational in January 2017.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><SUP>(3)</SUP></TD>
    <TD>This transmission line became operational in August 2017.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><SUP>(4)</SUP></TD>
    <TD>This transmission line became operational in July 2018.</TD></TR>
</TABLE>


<P STYLE="margin-top: 9pt; font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B>Other Businesses</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Telecommunications</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Copel
Telecomunica&ccedil;&otilde;es S.A</I>. Pursuant to an authorization from the Brazilian National Telecommunication Agency, <I>Ag&ecirc;ncia
Nacional de Telecomunica&ccedil;&otilde;es </I>(&ldquo;ANATEL&rdquo;), we provide telecommunication services within the States
of Paran&aacute; and Santa Catarina. We have been offering these services since August 1998 through the use of our fiber optics
network (totaling 35.1 thousand km of fiber optic cables by the end of 2019). In addition we have been involved in an educational
project aimed at providing broadband internet access to public elementary and middle schools in the State of Paran&aacute;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">COPEL currently
serves 399 municipalities in the State of Paran&aacute;. All of these municipalities are connected to COPEL&rsquo;s optical backbone.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">In addition
to the high transmission capacity in its backbone, Copel Telecom serves 85 municipalities in the State of Paran&aacute;, with GPON
(Gigabit-Capable Passive Optical Networks) access technology, providing several network services with symmetry rates, in different
types of FTTx services.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We provide
services to most of the major Brazilian telecommunication companies that operate in the State of Paran&aacute;. In total, we have
corporate clients that include supermarkets, universities, banks, internet service providers and television networks in addition
to retail clients. We also provide a number of different telecommunication services to our subsidiaries.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
April 17, 2019, Copel's Board of Directors resolved, unanimously, that we should continue to analyze alternatives for a potential
transfer of control of Copel Telecomunica&ccedil;&otilde;es S.A.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Sercomtel.
</I>We own 45% of the stock of Sercomtel Telecomunica&ccedil;&otilde;es S.A. (&ldquo;Sercomtel&rdquo;). Sercomtel holds a concession
to provide fixed telephony services and an authorization to provide mobile services in the municipalities of Londrina and Tamarana,
located in the State of Paran&aacute;. In addition, Sercomtel has two (2) other authorizations from ANATEL that allow it to provide
fixed telephony and broadband internet services in all other municipalities of the State of Paran&aacute;. Currently, Sercomtel
operates with its own network in fifteen (15) municipalities of the State of Paran&aacute;, providing voice services and fixed
broadband. Pursuant to a commercial agreement between COPEL and Sercomtel in force since March 2012, Sercomtel can provide voice
services over COPEL&rsquo;s network in one hundred and eighty three (183) cities within the State of Paran&aacute;, including Curitiba.
..</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of December
31, 2019, Sercomtel provided a total of 232.2 thousand accesses in fixed telephone services, 53.8 thousand mobile accesses and
89 thousand fixed broadband accesses in operation.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
addition to the telecommunications business, Sercomtel S.A. &ndash; Telecomunica&ccedil;&otilde;es currently holds the following
equity interest: (i) 100% of the capital stock of Sercomtel Participa&ccedil;&otilde;es, a company whose purpose is to provide
added value services, design, deploy and maintain internet service providers, operate a service center for users of telecommunications
services, offer integrated IT solutions, among others activities; and (ii) 18.92% (common shares) and 18.73% (preferred shares)
of the capital stock of Companhia de Tecnologia e Desenvolvimento S.A., a mixed capital company incorporated from the transformation
of Sercomtel Contact Center S.A. in accordance with Law No. 12,912 of September 12, 2019, approved and sanctioned by the City Council
and the Municipality of Londrina, respectively. In addition, Sercomtel Participa&ccedil;&otilde;es S.A. holds 10% (common shares)
of the capital stock of Sercomtel Ilumina&ccedil;&atilde;o S.A., a company</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">that provides public lighting
maintenance services in the city of Londrina, State of Paran&aacute;. In September 2017, pursuant to Decision (<I>Ac&oacute;rd&atilde;o</I>)
no. 366, ANATEL determined that Sercomtel was not in compliance with certain financial indicators set forth by the agency in connection
with the concessions granted to Sercomtel and required for the company&rsquo;s operations to continue. As a consequence, ANATEL
brought an administrative proceeding against Sercomtel to assess whether the concession and the authorizations granted to this
company should be terminated. In March 2019, ANATEL decided to suspend the above mentioned proceeding for a 120-day period, so
that Sercomtel could present to the agency alternative plans for meeting the relevant regulatory indicators. Even though this proceeding
has not been concluded yet, ANATEL published a bidding notice proposal in September 2019 with respect to the licenses held by Sercomtel.
ANATEL&rsquo;s proposal is subject to review by the Federal Audit Court (<I>Tribunal de Contas da Uni&atilde;o</I>). If a bidding
process is indeed carried out by ANATEL, Sercomtel&rsquo;s licenses can be forfeited and terminated.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
June 2019, the municipal legislature of Londrina approved the sale of the stake held by the Londrina City Hall as the controlling
shareholder of Sercomtel (Municipal Law No 12.871, dated June 12, 2019). In November 2019, the City Hall published the bidding
notice for the privatization process of Sercomtel, which provides for the assignment of the City Hall&rsquo;s preemptive right
to subscribe shares in a future capital increase of Sercomtel. This process can result in the dilution of the stake held by the
City Hall and Copel in Sercomtel. However, a bid for the sale of such preemptive rights was scheduled for February 5, 2020, and
no participants attended. We understand that alternative procedures are under consideration by Sercomtel&rsquo;s controlling shareholder.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0.5in">Sercomtel has had losses in previous
years and is facing financial difficulties for carrying out its operations, so it may need additional financial contributions from
its shareholders. In view of the accumulated losses and uncertainties regarding its operational feasibility, we carried out in
2013 the write-off of this investment in our financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt"><B><I>Gas</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B><I>Gas Distribution</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">We
are engaged in the distribution of natural gas through Companhia Paranaense de G&aacute;s (&ldquo;Compagas&rdquo;), the company
that holds the exclusive rights to supply piped gas in the State of Paran&aacute;. Compagas operates the gas distribution grid
in the State of Paran&aacute; under a concession agreement with a term of 30 years, with expiry on July 6, 2024. Such date has
always been announced and considered for assessment of the balances of the prior-year financial statements. The concession agreement
may be extended for an equal 30-year period upon request of the concessionaire.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
December 7, 2017, however, the State of Paran&aacute; published Supplementary Law 205, introducing a new interpretation of the
expiry of the concession, which should have occurred on January 20, 2019. Notwithstanding the new expiration date provided by the
state law, this concession has not been subject to neither an extension nor a new bidding process. Pursuant to applicable law,
Compagas, as the current concessionaire, may continue to operate the concession until a new concessionaire is appointed.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
addition, the management of Compagas, we and other shareholders are challenging the effects of the aforesaid law, understanding
that it conflicts with the provisions of the concession agreement currently in force. Compagas filed a lawsuit challenging the
anticipating of the expiration date of such concession and was granted with a provisional remedy on October 30, 2018. A final decision
on this lawsuit is still pending. However, such discussion has not yet been concluded and that law continues in force, and the
effects of such law on our financial statements for 2019 had to be taken into consideration. For more information, see Note 2.1.1
to our audited consolidated financial statements for December 31, 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Management
will continue to make its best efforts to protect the Company interests, aiming to appropriately settle the impacts of the new
interpretation given by the concession grantor and find alternatives necessary to maintain the concession in a sustainable manner.
For more information see Note 2.1.1 to our audited consolidated financial statements.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Compagas
covered 833 kilometers in 2019, increase of 1.1% compared to 824 kilometers covered in 2018. Compagas&rsquo;s net revenues were
R$866.9 million, an increase of 47.3%, compared to 2018 (R$588.5 million), and its net income was R$173.0 million, an increase
of R$113.4 million or 190.1% compared to 2018. Compagas&rsquo; customers include industries, gas stations, other businesses and
residences and Arauc&aacute;ria Thermoelectric plan. Compagas is focusing its business strategy on increasing the volume of gas
it distributes to customers by marketing the benefits of substituting oil and other fuels by gas as a mean of achieving greater
energy efficiency. Compagas&rsquo; customer base increased 8%, to 47,238 customers in 2019 from 43,943 in 2018.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Compagas registered
an increase of 15% in the average daily volume of natural gas distributed to Final Customers, to 1,368,915 cubic meters per day
in 2019 (not including the volume of gas supplied to Arauc&aacute;ria Thermoelectric plant) compared to 1,190,302 cubic meters
per day in 2018 (not including the volume of gas supplied to Arauc&aacute;ria Thermoelectric plant). In addition, Compagas makes
its distribution grid available to transport natural gas to Arauc&aacute;ria TPP. The volume of natural gas supplied from Petrobras
and distributed by Compagas to Arauc&aacute;ria TPP, was 68,050 cubic meters per day in 2019, compared tp 5.0 cubic meters per
day in 2018.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of December
31, 2019, we owned a controlling stake (51%) of the capital stock of Compagas and consolidated this equity interest in our financial
statements. The minority shareholders of Compagas are Petrobras and Mitsui G&aacute;s, each of which owns 24.5% of the capital
stock of Compagas.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B><I>Gas Exploration</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the 12<SUP>th</SUP>
bidding round of National Petroleum Agency (<I>Ag&ecirc;ncia Nacional do Petr&oacute;leo </I>&ldquo;ANP&rdquo;), held at the end
of 2013, the consortium formed by us (30%), Bayar Participa&ccedil;&otilde;es (30%), Tucumann Engenharia (10%) and Petra Energia
(30%), the latter acting as operating company, won the right to explore, research, develop and produce oil and natural gas in four
blocks located in the central southern region of the State of Paran&aacute;, in a 11,327 km&sup2; area. The minimum investment
in the first phase of the research is approximately R$78.1 million for a 4-year term. We and our partners have signed the concession
contracts for 2 blocks in May 2014. However, because of a public civil action, the first phase of exploration for these two blocks
was halted and the signing of the other two concession contracts was prohibited. On June 7<SUP>th</SUP>, 2017, a court decision
held that all the bidding round and the agreements related thereto should be deemed null and void. Moreover, the Government of
the State of Paran&aacute; enacted Law No. 19,878 (July 3, 2019), forbidding the exploration of shale gas through the drilling
/ fracking method.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As a result
of the above-mentioned events, our consortium requested ANP to release it from its contractual obligations, with no liabilities
and with reimbursement of the signing bonuses, reimbursement of all costs incurred in connection with guarantees and release of
such guarantees for the four blocks. Even though this request was submitted to ANP on September 6<SUP>th</SUP>, 2017, it is still
subject to analysis. All the activities for the four blocks were interrupted due to the suspension of the effects of the12<SUP>th</SUP>
bidding round of ANP because of an injunction granted in connection with the above mentioned public civil action, which awaits
a decision from the Federal Court of Appeals of the 4<SUP>th</SUP> Region. For this reason, in October 2018, the consortium approved
the establishment of an institutional arbitration procedure with the ANP for the four blocks awarded in the 12<SUP>th</SUP> bidding
round of ANP, asking for the refund of the contributions made. Arbitral proceedings have already been initiated.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 2.25pt 0; text-align: center"><B><A NAME="a_012"></A>CONCESSIONS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 2.25pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We operate
under concessions granted by the Brazilian government for our generation, transmission and distribution businesses. Under Brazilian
law, concessions are subject to competitive bidding processes at the end of their respective terms.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B><I>2013
Concession Renewal Law</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Until 2013,
the Brazilian rules governing generation concessions gave concessionaires the right to renew for additional 20 year concession
contracts that were entered into prior to December 11, 2003. For</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">transmission and distribution concessions
granted after 1995, concessionaires had the right to renew these contracts for an additional 30-year period.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On September
11, 2012, the Brazilian federal government enacted the Provisional Measure No. 579, subsequently converted into the 2013 Concession
Renewal Law, which significantly changed the conditions under which concessionaires are able to renew concession contracts. Under
the 2013 Concession Renewal Law, generation, transmission and distribution concessionaires may renew the concessions that were
in effect as of 1995 (and, in the case of generation facilities, generation concession contracts entered into prior to 2003) for
an additional period of 30 years (or an additional 20-year period in the case thermal plants), provided that the concessionaire
agrees to amend the concession contract to reflect a series of new conditions that aim to ensure that services are provided in
a continuous and efficient fashion and subject to low tariffs. Under the 2013 Concession Renewal Law, concessionaires must decide
60 months before the end of each concession term (or 24 months with respect to thermal plant concessions that it is 24 months)
whether to amend and renew a concession contract or to terminate each concession contract at the end of its respective term.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For concessionaires
of generation facilities existing at that time, the 2013 Concession Renewal Law changed the scope of the concession contracts at
the moment they were renewed. Previously, a generation concessionaire had the right to sell the energy generated by the facilities
subject to its concession for profit. In contrast, generation concessions renewed pursuant to the 2013 Concession Renewal Law do
not grant concessionaires the right to sell the energy generated by these facilities. Instead, these concessions only cover the
operation and maintenance of the generation facilities, subject to quality standards determined by Brazilian authorities. The energy
generated by these facilities are allocated by the Brazilian federal government in quotas to the regulated market, for purchase
by distribution concessionaires. For new generation facilities (i.e., generation facilities operated after the 2013 Concession
Renewal Law), on the other hand, the concessionaire still has the right to sell the energy produced by the generation facility.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In addition
to changing the scope of generation concessions, the 2013 Concession Renewal Law establishes a new tariff regime that significantly
affects the treatment of amounts to be invested by concessionaires to improve and maintain generation plants. To this effect, several
regulations were issued by MME and ANEEL to regulate the compensation due to concessionaires as a result of their investments to
improve and maintain generation plants.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The 2013 Concession
Renewal Law affects transmission and distribution concessions differently. The principal change is that amounts invested in modernization
projects, structural reforms, equipment and contingencies are subject to prior ANEEL approval. However, the 2013 Concession Renewal
Law does not affect the manner in which distribution and transmission concessionaires may recover amounts invested in transmission
infrastructure.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">With respect
to the transmission agreements, the conditions for renewal set forth in the 2013 Concession Renewal Law are the acceptance of a
fixed income as determined by ANEEL and compliance with quality standards set forth in applicable regulation. With respect to distribution
agreements, the conditions are set forth in the amendment to the concession agreement and are related to compliance with quality
standards, economic-financial sustainability indicators and corporate governance <FONT STYLE="background-color: white">as set forth
in the amendment to the concession agreement according to the parameters provided in the 2013 Concession Renewal Law</FONT>.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The 2013 Concession
Renewal Law applies to all generation, transmission and distribution contracts that were in effect as of 1995 (and, in the case
of generation concessions, entered into prior to 2003), regardless of whether a contract grants to the concessionaire the right
to renew a concession on its original terms. For example, several of our concession contracts contain provisions allowing us to
renew these concessions for a period of 20 years. Under the 2013 Concession Renewal Law, in order to renew these contracts, we
nonetheless would be required to accept the application of the conditions imposed by the 2013 Concession Renewal Law to the contract,
and the concession contract would then be renewed for 30 years, rather than 20 years. If we choose to renew a concession contract
that contains a renewal provision, we would be indemnified by the Brazilian government using funds from the RGR Fund (see Energy
Sector Regulatory Charges) in an amount equal to the portion of our investments related to the concession that have not yet been
amortized or depreciated, as calculated by ANEEL.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If a concessionaire
decides not to accept the new tariff regime with respect to a concession contract and therefore decides not to renew the contract,
the concession will terminate at the end of its original term, and the Brazilian government will conduct a new competitive bidding
process for the concession. The original concessionaire may participate in the new competitive bidding process.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the case
of hydroelectric generation concessions with an installed capacity of more than 5,000 kW, upon the expiration of their original
term and provided that the concessionaire does not request the extension of such term, the granting authority may submit the concession
to a new bidding process. In the case of concessions for hydroelectric generation units with an installed capacity of 5,000 kW
or less, upon the expiration of their original term, the concessions may be granted to the current concessionaire in the form of
registration, for an indefinite term.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B><I>Generation
Concessions</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Of
the nineteen (19) hydroelectric plants we operated in 2019, fourteen (14) were operated under the generation concession contracts
that were in force prior to the 2013 Concession Renewal Law, and five (5) were operated in accordance with the 2013 Concession
Renewal Law (Capivari Cachoeira HPP, Chopim I HPP, Marumbi HPP, Baixo Igua&ccedil;u HPP and Col&iacute;der HPP). In 2013, 12 of
the 13 hydro and thermoelectric generation concessions operated by the Company in 2013 (exception made only to Rio dos Patos HPP)
were extended pursuant to the old regime and could be renewed again under the 2013 Concession Renewal Law.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">However,
at the time the 2013 Concession Renewal Law was enacted, the Company elected not to renew the following generation concessions:
Rio dos Patos (2014), Mour&atilde;o I (2015), Chopim I (2015) and Capivari Cachoeira (2015), all of which had remaining terms of
60 months or less. Please see below for further information on each of these concessions.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Foz
do Areia HPP.</I> Copel Gerac&#807;a&#771;o e Transmissa&#771;o did not elect to renew the original concession pursuant the 2013
Concession Renewal Law for the Foz do Areia HPP (Governador Bento Munhoz da Rocha Netto). However, in order to obtain a new concession
for the Foz do Areia HPP for another 30 years, Copel GeT transferred the ownership of this HPP to its subsidiary, the SPC F.D.A.
Gera&ccedil;&atilde;o de Energia El&eacute;trica S.A (F.D.A) on March 3, 2020, and, on the same date, requested a new concession
from the Ministry of Mines and Energy pursuant to Federal Decree no. 9,271/2018 (as amended by Federal Decree no. 10,135/2019),
which conditions that, to obtain a new concession, the sale of the concession's corporate control (F.D.A) must occur. On the same
date, F.D.A. signed with ANEEL the Concession Contract that transfers the concession of the HPP Foz do Areia from Copel GeT to
the F.D.A., for the exploration of the plant until the end of the current concession, on September 17, 2023.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Rio
dos Patos HPP</I>. The concession of Rio dos Patos HPP was terminated and not submitted to a further bidding process due to the
lack operational conditions.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0"><I>Mour&atilde;o
I and Capivari Cachoeira HPP</I>. The granting authority submitted the concessions for HPP Capivari Cachoeira and Mour&atilde;o
I to new bidding processes, pursuant to which new agreements should be in force for a 30-year period. Copel GeT was the winner
in the bidding process related to HPP Capivari Cachoeira. With respect to Capivari Cachoeira, although Copel GeT did not elect
to renew the original concession for the Capivari Cachoeira HPP, it participated in the new competitive bidding process and won.
On January 5, 2016, Copel GeT executed a concession agreement with ANEEL so that it will continue to operate this plant under an
operation and maintenance regime until 2046. We paid a total amount of R$574.8 million as signing bonus for this concession agreement.
100.0% of the energy generated by this plant in 2016 was allocated in quotas to the regulated market, and reduced to 70.0% on January
1, 2017. Copel GeT can sell remaining amount of energy generated by this plant on the Free Market or Spot Market.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify"><I>Chopin I HPP</I>. As the installed
capacity of Chopin I HPP does not exceed the 5,000 kW, the concession regime of this plant has been changed to a registration in
favor of the Company, valid for an indefinite term.</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Figueira
TPP.</I> Our concession for the Figueira TPP expired on March 26, 2019. We had filed an extension request with respect to this
plant on May 24, 2017, but we are still waiting for the granting authority to amend our concession agreement, extending its term
for an additional 20-year period in accordance with the 2013 Concession Renewal Law. This plant has an installed capacity equivalent
to 20 MW and subject to a modernization process.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">With respect
to the concessions granted between 2011 and 2017 with no renewal right attached, we acquired the right to renew only one of the
hydroelectric plants (HPP Cavernoso II) for a 30-year period, as a result of an amendment to the 2013 Concession Renewal Law by
Law No. 13,360, of November 17, 2016.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In accordance
with the 2013 Concession Renewal Law, Copel could have flagged to the granting authority by 2019 its intention to renew the concession
of HPP S&atilde;o Jorge. However, Copel elected not to renew such concession and, consequently, it will be able to operate such
HPP until December 2024 and request the conversion of this operating regime into a registration regime, as the installed capacity
does not exceed 5,000 kW.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As the installed
capacity of Chopin I HPP also does not exceed 5,000 kW, the concession regime of this plant has been changed to a registration
in favor of the Company, valid for an indefinite term. In addition, pursuant to the same statute, the Company may flag to the granting
authority its intention to extend: (i) in 2020, the concession of HPP Apucaraninha; and (ii) in 2021, the concessions of HPP Guaricana
and Chamin&eacute;. In the event the Company does not request the extension of these concessions, they will be subject to new bidding
processes conducted by the granting authority.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Concessions
for generation projects granted after December 11, 2003 were not affected by the 2013 Concession Renewal Law and are non-renewable,
meaning that upon expiration of their 35-year term, the concession will be granted subject to a new competitive bidding process.
In 2019, we had three (3) hydroelectric plants operating in this condition (HPP Mau&aacute;, HPP Col&iacute;der and HPP Baixo Igua&ccedil;u).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">The following
tables sets forth information relating to the terms as well as the renewals of our main generation hydroelectric, thermoelectric
and wind farm plants and all of which we hold a direct ownership interest in:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Hydroelectric
        Plants</B></P></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Initial
        concession date</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>First
        expiration date</B></P></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Extension
        Date</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Final
        expiration date</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Foz do Areia <SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 1973</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2003</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2001</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2023</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Apucaraninha&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 1975</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2005</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2003</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2025</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Guaricana&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 1976</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2006</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2005</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2026</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Chamin&eacute;&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 1976</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2006</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2005</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2026</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Segredo&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 1979</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2009</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2009</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2029</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Deriva&ccedil;&atilde;o do Rio Jord&atilde;o&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 1979</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2009</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2009</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2029</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Salto Caxias&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 1980</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2010</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2009</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2030</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Mau&aacute; <SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">June, 2007</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">July, 2042</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not extendable</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">July, 2042</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Col&iacute;der<SUP>(3)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2046</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not extendable</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Cavernoso II&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">February, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">February, 2046</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not extendable </FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">February, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Baixo Igua&ccedil;u<SUP>(4)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2047</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not extendable</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2049</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">SHP Bela Vista <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2007</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2041</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Extendable</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2071</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">In March 3, 2020, the concession of Foz do Areia was transferred from Copel GeT to FDA pursuant to ANEEL Authorizing Resolution
no. 8.578/2020. Copel GeT owns 100% of FDA Gera&ccedil;&atilde;o de Energia S.A.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">Mau&aacute; was constructed by Cons&oacute;rcio Energ&eacute;tico Cruzeiro do Sul, of which Copel owns 51.0% and Eletrosul owns
the remaining 49.0%.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">The commercial operations of generation units 1, 2 and 3 of Col&iacute;der&rsquo;s began in March 2019, May 2019 and December
2019, respectively.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(4)</SUP></TD>
    <TD STYLE="text-align: justify">Baixo Igua&ccedil;u was constructed by Cons&oacute;rcio Empreendedor Baixo Igua&ccedil;u, of which Copel owns 30% and Gera&ccedil;&atilde;o
C&eacute;u Azul the remaining 70%. The commercial operations of generation units 1, 2 and 3 of Baixo Igua&ccedil;u&rsquo;s began
in February 2019, Feburary 2019 and April 2019, respectively.</TD></TR>
</TABLE>



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    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(5)</SUP></TD>
    <TD STYLE="text-align: justify">The consortium CBVG, formed by Copel GeT and Foz do Chopim Energ&eacute;tica Ltda., won ANEEL Auction No. 003/2018 for SHP Bela
Vista. In April 2019, the authorization to operate SHP Bela Vista was transferred from Foz do Chopim Energ&eacute;tica Ltda. to
Bela Vista Gera&ccedil;&atilde;o de Energia S.A through the Aneel&rsquo;s Authorizing Resolution no. 7.802/2019. In December 2019,
Copel GeT became the owner of 100% of Bela Vista Gera&ccedil;&atilde;o de Energia. This power plant is still under construction.
..</TD></TR>
</TABLE>


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: black 0.5pt solid"><B>Thermoelectric
        Plants</B></P></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Initial
        concession date</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>First
        expiration date</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Extension
        date</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Final
        expiration date</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Figueira&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March 1969</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March 1999</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">June 1999</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March 2019</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border-bottom: Black 1pt solid; font: 10pt Georgia, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 60%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid; text-align: center"><B>Wind Plants</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Initial
        concession date</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>First
        expiration date</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Asa Branca I&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Asa Branca II&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Asa Branca III&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Nova Eurus IV&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Santa Maria&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2047</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Santa Helena&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2047</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Ventos de Santo Uriel&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2047</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Boa Vista&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Farol&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Olho D'&Aacute;gua&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">June, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2046</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Bento do Norte&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2011</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2046</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Cutia<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2042</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Guariju<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2042</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Jangada<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2042</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Maria Helena<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2042</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Palmas&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 1999</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2029</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Potiguar<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Esperan&ccedil;a do Nordeste<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2050</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Para&iacute;so dos Ventos do Nordeste<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Bento do Norte I<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2050</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Bento do Norte II<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Bento do Norte III<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2050</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel I<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2050</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel II<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2050</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel III<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2050</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Janda&iacute;ra I<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2020</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2055</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Janda&iacute;ra II<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2020</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2055</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Janda&iacute;ra III<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2020</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2055</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Janda&iacute;ra IV<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2020</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2055</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Wind plants located at Copel&rsquo;s Cutia wind farm complex.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">The consortium formed by Copel GeT and Cutia Empreendimentos E&oacute;licos S.A.., won ANEEL Auction no. 004/2019 for Janda&iacute;ra
Wind Complex (I, II, III and IV) and granting process is still ongoing.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.85pt">The following
table sets forth information relating to the terms of our generation hydroelectric plant, whose concession agreement has been executed
under the terms and conditions of the 2013 Concession Renewal Law:</P>



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    <!-- Field: /Page -->

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Hydroelectric
        Plants </B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Initial
        concession date</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>First
        expiration date</B></P></TD>
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Extension
        Date</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Final
        expiration date</B></P></TD></TR>

<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="width: 23%; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Capivari Cachoeira (Gov Parigot de Souza)&#9;</FONT></TD>
    <TD STYLE="width: 20%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2016</FONT></TD>
    <TD STYLE="width: 19%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2046</FONT></TD>
    <TD STYLE="width: 18%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not subject to extension</FONT></TD>
    <TD STYLE="width: 20%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2046</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.85pt">The following
table sets forth information relating to the terms of our generation hydroelectric plants which, once respective original concession
period expires, will no longer be subject to a concession regime but rather to a registration proceeding with the ANEEL:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Hydroelectric
        Plants</B><SUP>(1)</SUP></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Initial
        concession date</B></P></TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Concession
        expiration date</B></P></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Final
        expiration date</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Chopim I&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 1964</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">July, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Indefinitely</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Jorge&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 1974</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2024</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Cavernoso&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 1981</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2031</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Melissa&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2002</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Indefinitely</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Pitangui&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2002</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Indefinitely</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Salto do Vau&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2002</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Indefinitely</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Marumbi&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 1956</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2018</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Indefinitely</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Upon the expiration of concessions or authorizations for hydroelectric energy generation with installed capacity equal to or less
than 5,000 KW, the relevant projects are subject to a registration regime in accordance with Brazilian Federal Law No. 9,074/1995,
as amended by Brazilian Federal Law No. 13,360/2016. The operation of hydroelectric and thermoelectric plans with installed capacity
of up to 5,000 KW are not subject to any concession, permission or authorization and require solely the registration with the
granting authority.</TD></TR>
</TABLE>


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We also have
ownership interests in eleven (11) other generation projects. The following table sets forth information relating to the terms
of the concessions of the generation facilities in which we had such partial ownership interest as of December 31, 2019.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Generation
        Facility</B></P></TD>
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Company</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Initial
        concession date</B></P></TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Expiration
        date</B></P></TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Extension</B></P></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">HPP Dona Francisca&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Dona Francisca Energ&eacute;tica SA &#8210; DFESA</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">July, 1979</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2033</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">HPP Santa Clara&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Centrais El&eacute;tricas do Rio Jord&atilde;o S.A. - ELEJOR</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2001</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2037</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">HPP Fund&atilde;o&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Centrais El&eacute;tricas do Rio Jord&atilde;o S.A. - ELEJOR</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2001</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">May, 2037</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">SHP Santa Clara I&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Centrais El&eacute;tricas do Rio Jord&atilde;o S.A. - ELEJOR</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2002</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2032</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">SHP Fund&atilde;o I&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Centrais El&eacute;tricas do Rio Jord&atilde;o S.A. - ELEJOR</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2002</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2032</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">TPP Arauc&aacute;ria&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">UEG Arauc&aacute;ria Ltda.</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 1999</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2029</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">HPP Arturo Andreoli&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Foz do Chopim Energ&eacute;tica</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2000</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2030</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">WPP Carna&uacute;bas&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel do Gostoso I</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2047</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not possible</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">WPP Reduto&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel do Gostoso I</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2047</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not possible</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">WPP Santo Cristo&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel do Gostoso I</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2047</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not possible</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">WPP S&atilde;o Jo&atilde;o&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">S&atilde;o Miguel do Gostoso I</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 2047</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Not possible</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Transmission Concessions</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to
the 2013 Concession Renewal Law and the terms of our transmission concessions, we have the right to request 30-year extensions
of the concessions from ANEEL, provided that such request is delivered within 60 months prior to the expiration of the contract.
Our principal transmission concession, from which 71%</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">of our transmission revenues in 2019 derived,
has been renewed pursuant to the 2013 Concession Renewal Law, and will therefore now expire in December 2042.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In addition,
in 2019, an aggregate of 29% of our transmission revenues derived from eleven (11) other concession contracts for transmission
lines and substations that are currently in operation and whose terms and extensions are set forth in the next table. In accordance
with the 2013 Concession Renewal Law, each of these contracts can be extended for an additional 30-year period.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We intend to
continue requesting extensions for all of our transmission concessions.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table sets forth certain information relating to the terms and extension terms of our main transmission concessions (all of which
we hold a direct ownership interest), including the concession contracts for transmission lines and substations both in operation
or under construction:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Transmission</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Facility</B></P>
</DIV></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Initial concession</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date</B></P>
</DIV></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>First expiration</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date</B></P>
</DIV></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Possibility
        of extension</B></P></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Expected
        (or final) expiration date</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">Main transmission concession&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">July, 2001</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">July, 2015</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Extended</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December, 2042</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Bateias &ndash; Jaguaria&iacute;va&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2001</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2031</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2061</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Bateias &ndash; Pilarzinho&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 2008</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 2038</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">March, 2068</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Foz do Igua&ccedil;u &ndash; Cascavel Oeste&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2009</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2039</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">November, 2069</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Substation Cerquilho III&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2010</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2040</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2070</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Araraquara 2 &ndash; Taubat&eacute;&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2010</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2040</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">October, 2070</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Foz do Chopim - Salto Osorio &#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2012</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2042</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August, 2072</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Assis &ndash; Paragua&ccedil;u Paulista II&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">February, 2013</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">February, 2043</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">February, 2073</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Bateias &ndash; Curitiba Norte&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2014</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2044</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">January, 2074</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Realeza Sul &ndash; Foz do Chopim&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2014</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2044</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2074</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Assis - Londrina&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2014</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2044</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">September, 2074</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Curitiba Leste &ndash; Blumenau<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2016</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2046</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Possible</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April, 2076</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Facility under construction.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 36.85pt">We have
ownership interests in ten (10) other transmission projects, through special purpose companies. The following table sets forth
information relating to the terms of the concessions of the transmission facilities in which we had such partial ownership interest
as of December 31, 2019:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>Transmission
        Facility</B></P></TD>
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>Special
        Purpose Company (SPC)</B></P></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>Initial
        concession date</B></P></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>First
        Expiration date</B></P></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>Possibility
        of Extension</B></P></TD>
    <TD STYLE="width: 15%">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 0.5pt solid"><B>Expected
        (or final) expiration date</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Cascavel Oeste &ndash; Umuarama&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Costa Oeste Transmissora de Energia S.A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">January, 2072</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Umuarama - Guaira&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Caiu&aacute; Transmissora de Energia S.A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2072</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">A&ccedil;ail&acirc;ndia<BR>
Miranda II&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Integra&ccedil;&atilde;o Maranhense Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2072</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt">Curitiba -</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt">Curitiba Leste&#9;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Marumbi Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2072</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt">Parana&iacute;ta &ndash;</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt">Ribeir&atilde;ozinho&#9;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Matrinch&atilde; Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2072</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Ribeir&atilde;ozinho &ndash; Marimbondo II&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Guaraciaba Transmissora de Energia S.A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2012</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2042</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2072</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Barreiras II &ndash; Pirapora II&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Parana&iacute;ba Transmissora de Energia S.A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2013</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2043</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2073</FONT></TD></TR>
</TABLE>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="background-color: Transparent">
    <TD STYLE="vertical-align: bottom; width: 22%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Itatiba &ndash; Bateias&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 27%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Mata de Santa Genebra Transmissora S.A</FONT></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2014</FONT></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2044</FONT></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="width: 15%; padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">May, 2074</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Estreito &ndash; Fern&atilde;o Dias&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Cantareira Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">September, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">September, 2044</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">September, 2074</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Ivaipor&atilde; &ndash; Londrina&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Uirapuru Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">March, 2005</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">March, 2035 </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Possible</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">March 2065</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Distribution Concessions</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">We
originally operated our distribution business pursuant to a concession contract that was signed on June 24, 1999 (retroactive to
July 7, 1995), and was set to expire on July 7, 2015. Under the 2013 Concession Renewal Law, we had the right to renew this concession
for an additional 30-year period by accepting an amendment to the concession contract. Notwithstanding the changes introduced by
the 2013 Concession Renewal Law, we concluded that the renewal of our distribution concession in accordance with the 2013 Concession
Renewal Law would not materially affect our results of operations. Accordingly, after a careful evaluation of the conditions imposed
by the Brazilian federal government for the extension of our distribution concession, we decided to request the renewal of this
contract and our renewal request was approved by the MME on November 11, 2015. On December 9, 2015, we have executed the fifth
amendment to the public Electricity Distribution Service Concession Agreement No. 46/1999 of Copel Distribui&ccedil;&atilde;o S.A.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">This
amendment imposes efficiency conditions to Copel Distribui&ccedil;&atilde;o that are measured through two different metrics: quality
of the service and economic-financial sustainability of the company. Failure to comply with any of these metrics (i) for two consecutive
years within the first four years of this renewed concession or (ii) in the fifth year of this concession, may, in each case, result
in the termination of our distribution concession. From January 1, 2021 on, failure to comply with the quality indicator for three
consecutive years or the economic-financial sustainability indicator for two consecutive years may also result in the termination
of the distribution concession.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Additionally,
non-compliance with quality indicator targets for two consecutive years or three times in five years may lead to restrictions in
the payment of dividends and interest on equity to the controlling shareholders of Copel Distribui&ccedil;&atilde;o, while non-compliance
with the economic-financial sustainability indicators may require capital contributions from Copel Distribui&ccedil;&atilde;o controlling
shareholders.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
table below presents the economic and financial and quality indicators established for the first five (5) years after the execution
of this amendment.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
 <DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Economic
        and Financial Indicators</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Quality
        Indicators <SUP>(1)</SUP></B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>Year</B></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>DEC<SUB>i</SUB><SUP>(2)</SUP></B></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center; border-bottom: Black 1pt solid"><B>FEC<SUB>i</SUB><SUP>(2)</SUP></B></P></TD></TR>
<TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2016</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">N/A</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center">13.61</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center">&nbsp;</P></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center">9.24</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2017</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">EBITDA<SUP>(3)</SUP> &#8805; 0</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12.54</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.74</FONT></TD></TR>
<TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2018</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">[EBITDA (-) QRR <SUP>(4)</SUP>] &#8805; 0</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">11.23</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.24</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">{Net Debt<SUP>(5)</SUP>/[EBITDA<SUP>(3)</SUP> (-) QRR<SUP>(4)</SUP>]} &#8804; 1/(0.8*SELIC<SUP>(6)</SUP>)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10.12</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.74</FONT></TD></TR>
<TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2020</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">{Net Debt<SUP>(5)</SUP>/[EBITDA<SUP>(3)</SUP> (-) QRR<SUP>(4)</SUP>]} &#8804; 1/(1.11*SELIC<SUP>(6)</SUP>)</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9.83</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: center; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.24</FONT></TD></TR>
<TR>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">According to ANEEL&rsquo;s Technical Note No. 0335/2015.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">DECi &ndash; Duration of outages per customer per year (in hours); and FECi &ndash; Frequency of outages per customer per year
(number of outages).</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">Earnings before interest, tax depreciation and amortization, as calculated according to ANEEL regulations.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(4)</SUP></TD>
    <TD STYLE="text-align: justify">QRR: Regulatory Reintegration Quota or Regulatory Depreciation Expense. This is the value defined in the most recent Periodic
Tariff Review (RTP), plus the General Market Price inflation index (IGP-M) between the month preceding the Periodic Tariff Review
and the month preceding the twelve-month period of the economic and financial sustainability measurement.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(5)</SUP></TD>
    <TD STYLE="text-align: justify">As calculated according to ANEEL regulations.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(6)</SUP></TD>
    <TD STYLE="text-align: justify">Selic base rate: limited to 12.87% per year.</TD></TR>
</TABLE>



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<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">We have complied with the quality
indicators for 2019 both with respect to DECi totaling 9.10 in 2019) and FECi (totaling 6.0 in 2019).</P>

<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0 7.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_013"></A>COMPETITION</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have concessions
to distribute electricity in substantially all of the State of Paran&aacute;, and we do not face competition from the five utilities
that have been granted concessions for the remainder of the state. As a result of legislation passed in 2004, however, other suppliers
are able to offer electricity to our existing Free Customers at prices lower than those we currently charge. However, when a Captive
Customer becomes a Free Customer, it is still required to pay to use our distribution grid. The reduction in net revenue of our
distribution business is therefore compensated with a reduction in our costs for energy that we would otherwise acquire to sell
to these customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Furthermore,
under certain circumstances, Free Customers may be entitled to connect directly to the Interconnected Transmission System rather
than our distribution grid. Unlike a Free Customer&rsquo;s choice of another energy supplier, in which case that customer must
still use our distribution grid and thus pay us the appropriate tariff, our distribution business ceases to collect tariffs from
a customer that connects directly to the Interconnected Transmission System. The migration of customers from the distribution grid
to the transmission network therefore results in the loss of revenues for our distribution business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Distribution
and transmission companies are required to permit the use of their lines and ancillary facilities for the distribution and transmission
of electricity by other parties upon payment of a tariff.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Free Customers
are limited to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">as from July 1, 2019, customers with demand
of at least 2.5 MW; after January 1, 2020, with demand of at least 2 MW; after January 1, 2021, with demand of at least 1.5 MW;
after January 1, 2022, with demand of at least 1.0 MW at any voltage; and, after January 1, 2023, with demand of at least 500 kW
at any voltage; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">customers with demand of at least 500
kW that opt to be supplied energy by means of alternative sources, such as wind power projects, small hydroelectric power plants,
biomass projects, solar plants and others.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">As
of December 31, 2019, we had 425 Free Customers (of which 375 were customers of our energy trading company and 50 of Copel GeT),
representing approximately 5.7% of our consolidated operating revenue and approximately 13.8% of the total quantity of electricity
sold by us.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 35.3pt">Without the
addition of new contracts in 2019, Copel GeT had 50 Free Costumers as of December 31, 2019. Approximately 17.67% of the megawatts-hours
sold under contracts to such customers by Copel GeT expired in 2019. These customers represented approximately 4.88% of the total
volume of electricity we sold in 2019, and approximately 4.09% of total net operating revenue from energy sales for that year.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
the generation business, any producer may be granted a concession to build or manage thermoelectric and small hydroelectric generating
facilities in the State of Paran&aacute;. Brazilian law provides for competitive bidding for generation concessions for hydroelectric
facilities and, since 2017, this requirement applies only to facilities with capacity higher than 50 MW.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the transmission
business, Brazilian law provides for competitive bidding for transmission concessions for facilities with a voltage of 230 kV or
greater that will form part of the Interconnected Transmission System.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Brazilian law
requires that all of our generation, transmission and distribution concessions be subject to a competitive bidding process upon
their expiration. We may face significant competition from third parties in bidding for renewal of such concessions or for any
new concessions. The loss of certain concessions could adversely affect our results of operations.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_014"></A><B>ENVIRONMENT </B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our construction
and operation activities for the generation, transmission and distribution of electric energy, distribution of natural gas and
our telecommunications operations are subject to federal, state and municipal environmental regulations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">All
of our activities follow our Sustainability Policy, which integrates corporate planning and sustainability management in order
to optimize our financial, social and environmental performance. Also our activities follow our Climate Change Policy, which establishes
guidelines for the mitigation of greenhouse gas emission and changes in our business, evaluating risks and opportunities related
to climate change.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We request
and renew our environmental licenses in accordance with the environmental regulation issued by applicable federal, state and municipal
level authorities. We are in compliance with all material environmental regulations and our more recent (post-1986) generation,
transmission and distribution projects are in compliance with federal, state and municipal regulations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Being
a signatory to the Global Compact since 2000, we are committed to sustainability. As a founding member of the Brazilian Global
Compact Network Committee, created in 2003, we support the movement to disseminate the principles of the Global Compact in promoting
effective and consistent articulations between governments, companies and social organizations in favor of social, environmental
and economic challenges for sustainability, as well as raising awareness among other Brazilian companies to engage and adopt corporate
citizenship as a standard for managing their businesses.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">We
adopt best market practices to guide and evaluate our performance, and compare practices with global and local references: B3 Corporate
Sustainability Index - ISE, Ethos Indicators for Sustainable and Responsible Business Models, and other evaluations and classifications
related to ESG (Environmental, Social and Governance) matters.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Through
an annual report, we reinforce our commitment to sustainable development and are accountable for our performance related to economic,
social, environmental and governance aspects (Integrated Report Copel). This report follows the international guidelines of the
Standards model of the Global Reporting Initiative (GRI), and the International Integrated Reporting Initiative (IIRC), and is
submitted to independent assurance, to ensure the reliability of the information disclosed.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_015"></A><B>PLANT, PROPERTY AND EQUIPMENT</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our principal
properties consist of the generation and telecommunications facilities described in &ldquo;Business&rdquo;. Of the net book value
of our total property, plant and equipment as of December 31, 2019 (including construction in progress), generation facilities
represented 58.5%, wind farms represented 27.5%, telecommunications represented 7.9%, Elejor represented 3.5%, and Arauc&aacute;ria
Thermoelectric plant represented 2.7%. We believe that our facilities generally are adequate for our present needs and suitable
for their intended purposes.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
addition, the infrastructure used by transmission and distribution business is classified as a financial, contract and intangible
assets as described in Notes 4.4, 4.5 and 4.9 to our audited consolidated financial statements.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_016"></A><B>THE EXPROPRIATION PROCESS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Although we
receive concessions from the Brazilian government to construct hydroelectric facilities, we do not receive title to the land on
which the facilities are to be located. In order for us to construct, the land must be expropriated. The land required for the
implementation of a hydroelectric facility may only be expropriated pursuant to specific legislation, after proving its public
interest. We generally negotiate with communities and individual owners occupying the land so as to resettle such communities in
other areas and to compensate individual owners. Our policy of resettlement and compensation generally has resulted in the settlement
of expropriation disputes, with friendly settlements for most of them. As of December 31, 2019, we estimated our liability related
to the settlement of such disputes to be approximately R$118.7 million. This amount is in addition to amounts for land expropriation
included in each of our hydroelectric facility budgets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; border-bottom: white 0.5pt solid"><A NAME="a_017"></A><FONT STYLE="text-transform: uppercase"><B>The
Brazilian eLECTRIC Power Industry</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>General</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In February
2020, according to Ordinance No. 38/2020, MME approved the Decennial Energy Plan - PDE 2029, which projects that the installed
capacity of electricity generation in Brazil will be 221 in GW in 2029 (not including distributed generation and self-production).
It is projected in the 2020 PDE that 81% of this total will be renewable (47% is projected to be hydroelectric and 34% will be
alternative sources of energy, such as wind, biomass and small hydroelectric plants), 18% will be thermoelectric, 5% will be solar,
and 2% will be nuclear.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">As of 2019,
approximately 30% of the installed power generating capacity of Brazil is currently owned by Eletrobras (including its wholly-owned
subsidiary Eletronuclear and its 50% participation interest in Itaipu). Through its subsidiaries, Eletrobras is also responsible
for approximately 45% of the installed transmission capacity equal or above 230 kV within Brazil. In addition, some Brazilian states
control entities involved in the generation, transmission and distribution of electricity. They include Companhia Energ&eacute;tica
de Minas Gerais &ndash; CEMIG and us, among others.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Principal Regulatory Authorities</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Ministry of Mines and Energy
&ndash; MME</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The MME is
the primary regulatory institution of the power industry and acts as the Brazilian governmental authority empowered with policymaking,
regulatory and supervisory powers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>National Energy Policy Council
&ndash; CNPE</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 35.3pt">The National
Energy Policy Council (<I>Conselho Nacional de Pol&iacute;tica Energ&eacute;tica</I> - &ldquo;CNPE&rdquo;), created in August 1997,
provides advice to the President of the Republic of Brazil regarding the development and creation of a national energy policy.
The CNPE is chaired by the MME and is composed of six ministers of the Federal Government and three members chosen by the President
of Brazil. The CNPE was created in order to optimize the use of energy resources in Brazil and ensure the national supply of electricity.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>National Electric Energy
Agency &ndash; ANEEL</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Brazilian
power industry is regulated by ANEEL, an independent federal regulatory agency. ANEEL&rsquo;s primary responsibility is to regulate
and supervise the power industry in accordance with the policies set forth by the MME and to respond to matters which are delegated
to it by the Brazilian government and the MME. ANEEL&rsquo;s current responsibilities include, among others, (i) administering
concessions for electric energy generation, transmission and distribution, including the approval of electricity tariffs, (ii)
enacting regulations for the electric energy industry, (iii) implementing and regulating the utilization of energy sources, including
the use of hydroelectric power, (iv) promoting, monitoring and managing the public bidding process for new concessions, (v) settling
administrative disputes among electricity sector entities and electricity purchasers, and (vi) defining the criteria and methodology
for the determination of transmission and distribution tariffs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>National Electric System
Operator &ndash; ONS</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The ONS (<I>Operador
Nacional do Sistema El&eacute;trico</I>) is a non-profit private entity comprised of electric utilities engaged in the generation,
transmission and distribution of electric energy, in addition to other private participants such as importers, exporters and Free
Customers. The primary role of the ONS is to coordinate and regulate the generation and transmission operations in the Interconnected
Transmission System, subject to the ANEEL&rsquo;s regulation and supervision. The objectives and principal responsibilities of
the ONS include, among others, operational planning for the generation industry, organizing the use of the domestic Interconnected
Transmission System and international interconnections, ensuring that industry participants have access to the transmission network
in a non-discriminatory manner, assisting in the expansion of the electric energy system,</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">proposing plans to the MME for extensions
of the Interconnected Transmission System, and formulating regulations regarding the operation of the transmission system for ANEEL&rsquo;s
approval.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Electric Energy Trading Chamber
&ndash; CCEE</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The CCEE (<I>C&acirc;mara
de Comercializa&ccedil;&atilde;o de Energia El&eacute;trica</I>) is a non-profit private entity subject to authorization, inspection
and regulation by ANEEL. The CCEE is responsible for, among other things, (i) registering all energy purchase agreements in the
regulated market, <I>Contratos de Comercializa&ccedil;&atilde;o de Energia no Ambiente Regulado</I> (&ldquo;CCEAR&rdquo;) and in
the Free Market, (ii) accounting for and clearing short-term transactions and (iii) managing funds generated by some of the regulatory
charges. The CCEE is composed of holders of concessions, permissions and authorizations in the electricity industry and Free Customers,
and its board of directors is composed of four members appointed by these agents and one by the MME, who is the chairman of the
board of directors.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Energy Sector Monitoring
Committee &ndash; CMSE</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The CMSE (<I>Comit&ecirc;
de Monitoramento do Setor El&eacute;trico</I>) was created by the New Industry Model Law to monitor service conditions and to recommend
preventative measures to ensure energy supply adequacy, including demand-side action and contracting of energy reserves.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Energy Research Company &ndash;
EPE</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 37.4pt; margin-right: 0; margin-left: 0">In
August 2004, the Brazilian government created the Energy Research Company (<I>Empresa de Pesquisa Energ&eacute;tica</I> - &ldquo;EPE&rdquo;),
a federal public company responsible for conducting strategic studies and research in the energy sector, including the industries
of electric power, petroleum, natural gas, coal and renewable energy sources. The studies and research conducted by the EPE subsidize
the formulation of energy policy by the MME.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Eletrobras</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Eletrobras
serves as a holding company for the following federally-owned energy companies: Companhia Hidro El&eacute;trica do S&atilde;o Francisco
&ndash; CHESF, Furnas Centrais El&eacute;tricas S.A., CGT Eletrosul, Centrais El&eacute;tricas do Norte do Brasil S.A. &ndash;
Eletronorte, Companhia de Gera&ccedil;&atilde;o T&eacute;rmica de Energia El&eacute;trica &ndash; CGTEE and Eletrobras Termonuclear
S.A. <I>&ndash;</I> Eletronuclear, Centro de Pesquisas de Energia El&eacute;trica &ndash; Cepel and Itaipu Binacional. Eletrobras
manages the commercialization of energy from Itaipu and from alternative energy sources, under the Program for incentive to alternative
energy sources (<I>Programa de Incentivo &agrave;s Fontes Alternativas de Energia </I>&ndash; &ldquo;Proinfa&rdquo;).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Historical Background of Industry
Legislation</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Brazilian
constitution provides that the development, use and sale of electric energy may be undertaken directly by the Brazilian federal
government or indirectly through the granting of concessions, permissions or authorizations. Historically, the Brazilian electric
energy industry has been dominated by generation, transmission and distribution concessionaires controlled by the federal or state
governments. Since 1995, the Brazilian government has taken a number of measures to reform the Brazilian electric energy industry.
<FONT STYLE="text-transform: uppercase">i</FONT>n general, these measures were aimed at increasing the role of private investment
and eliminating foreign investment restrictions in order to increase overall competition and productivity in the industry.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The following
is a summary of the principal developments in the regulatory and legal framework of the Brazilian electricity sector:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 1995, (i) the Brazilian constitution
was amended to authorize foreign investment in power generation; (ii) the Concessions Law was enacted, requiring that all concessions
for energy-related services be granted through public bidding processes, providing for the creation of independent producers and
Free Customers and granting electricity suppliers and Free Customers open access to all distribution and transmission systems;
and (iii) a portion of the controlling interests held by Eletrobras and various Brazilian
states in generation and distribution companies were sold to private investors.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 1998, the Power Industry Law was enacted,
providing for, among other things, the creation of the ONS and the appointment of Banco Nacional de Desenvolvimento Econ&ocirc;mico
e Social (&ldquo;BNDES&rdquo;), a development bank wholly owned by the Brazilian government, as the financing agent of the power
industry, especially to support new generation projects.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2001, Brazil faced a serious energy
crisis that lasted through February 2002. During this period, the Brazilian government implemented an energy-rationing program
in the most adversely affected regions, namely the southeast, central-west and northeast regions of Brazil. In April 2002, the
Brazilian government for the first time implemented the extraordinary tariff adjustment to compensate the electricity suppliers
for financial losses incurred as a result of the rationing period.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2004, the Brazilian government enacted
the New Industry Model Law (Law No. 10,848), in an effort to further restructure the power industry with the ultimate goal of providing
customers with a stable supply of electricity at reasonable prices. The New Industry Model Law introduced material changes to the
regulation of the electric energy industry, in order to (i) provide incentives to private and public entities to build and maintain
generation capacity, and (ii) ensure the supply of electricity in Brazil at low tariffs through a competitive electricity public
bidding process. The key elements of the New Industry Model Law include:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ensuring the existence of two markets:
(i) the regulated market, a more stable market in terms of supply of electricity, and (ii) a market specifically addressed to certain
participants (i.e., Free Customers and energy-trading companies), called the Free Market, that permits a certain degree of competition
vis-&agrave;-vis the regulated market.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Restrictions on certain distribution activities,
including requiring distributors to focus on their core business of distribution activities in order to promote more efficient
and reliable services to Captive Customers.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Elimination of self-dealing by providing
an incentive for distributors to purchase electricity at the lowest available prices rather than buying electricity from related
parties.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upholding contracts executed prior to
the New Industry Model Law, in order to provide regulatory stability for transactions carried out before its enactment.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2004, Decree No. 5,163 was enacted
to governor the purchase and sale of electricity in the regulated market and the Free Market, as well as the granting of authorizations
and concessions for electricity generation projects. This decree includes, among other items, rules relating to auction procedures,
the form of power purchase agreements and the mechanism for passing costs through to final customers. Among other matters, this
decree:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">provides for the guidelines under which
electricity-purchasing agents must contract their electricity demand. Electricity-selling agents must show that the energy to be
sold comes from existing or planned power generation facilities. Agents that do not comply with such requirements are subject to
penalties imposed by ANEEL.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">requires electricity distribution companies
to contract for 100% of their energy needs primarily through public auctions. In addition to these auctions, distribution companies
can purchase limited amounts (up to 10% of their demand) from: (i) generation companies that are connected directly to a distribution
company (except for hydroelectric power plants with capacity higher than 30 MW and certain thermoelectric power plants) (ii) electricity
generation projects participating in the initial phase of the Proinfa Program, (iii) the Itaipu Power Plant and (iv) quotas from those generation concession contracts
extended or subject to a new competitive bidding process in accordance with the 2013 Concession Renewal Law.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">provides that the MME shall establish
the total amount of energy that will be contracted in the regulated market, including the number and the type of generation projects
that will be auctioned each year.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">requires all electricity generation, distribution
and trading companies, independent producers and Free Customers to notify MME, by August 1<SUP>st</SUP> of each year, of their
estimated electricity demand or estimated electricity generation, as the case may be, for each of the subsequent five years. In
advance of each electricity auction, each distribution company is also required to inform MME of the amount of electricity that
it intends to contract in the auction. In addition, distribution companies are required to specify the portion of the contracted
amount they intend to use to supply potentially Free Customers.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2012, the Brazilian government enacted
two Provisional Measures that brought important changes to the Brazilian electricity regulatory framework: (i) Provisional Measure
No. 577, dated as of August 29, 2012 (converted into Law No. 12,767 dated as of December 27, 2012); and (ii) Provisional Measure
No. 579, dated September 11, 2012 (converted into the 2013 Concession Renewal Law). Provisional Measure No. 577 established the
obligation of the granting authority to render electricity services in the event of termination of an electricity concession, as
well as new rules related to the intervention by the granting authority in electricity concessions to ensure adequate performance
of Utility services. The 2013 Concession Renewal Law established new rules that changed concessionaires&rsquo; ability to renew
concession contracts. Under this Law, generation and distribution concessionaires may renew their concession contracts that were
in effect as of 1995 and transmission concessionaires may renew their concession contracts that were in effect prior to and as
of 1995 for an additional period of 30 years, provided that the concessionaires agree to amend the concession contracts to reflect
a new tariff regime to be established by ANEEL. See &ldquo;Concessions&rdquo;.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2013, the 2013 Concession Renewal Law
was enacted. This statute changed the nature of the concession agreements for generation facilities existing at the time. Prior
to 2013, a generation concessionaire had the right to sell the energy generated by the facilities subject to its concession for
profit. In contrast, generation concessions for existing generation facilities (including those renewed pursuant to the 2013 Concession
Renewal Law) could no longer grant concessionaires the right to sell the energy generated by these facilities. Instead, these concessions
started to cover the operation and maintenance of the generation facilities. The energy generated by these facilities was then
allocated by the Brazilian federal government in quotas to the regulated market, for purchase by distribution concessionaires.
In case of generation facilities created after the 2013 Concession Renewal Law, the concessionaire has the right to sell the energy
produced by the facility. For further information, see &ldquo;Item 4. Information on the Company&mdash;Concessions&mdash;2013 Concession
Renewal Law.&rdquo;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2015, the Brazilian government enacted
Provisional Measure No. 688, dated as of August 18, 2015, converted into Federal Law No. 13,203, dated as of December 8, 2015,
to revise the allocation of the hydrological risks borne by hydroelectric power plants that share hydrological risks under Energy
Reallocation Mechanism. In 2014 and 2015, given poor hydrological conditions, the MRE participants generated less electricity than
their assured energies, which was confirmed by a significant decrease of the Generating Scaling Factor (&ldquo;GSF&rdquo;), a measurement
of the proportion between the electricity generated by the MRE participants and their respective assured energy. These generation
deficits resulted in losses for the MRE participants given their exposure to hydrological risks. As a consequence, Federal Law
No. 13,203 established an optional mechanism that allows each generation plant to transfer these risks to Final Customers upon
payment of a risk premium to the Brazilian federal government, as well as certain temporary extensions of generation concessions
to compensate for losses in 2015. We decided to opt-in with respect to all of Copel GeT&acute;s
and Elejor&acute;s eligible Energy Agreements under this new hydrological risk allocation mechanism, which represented approximately
16% of Copel GeT&acute;s total assured energy.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2016, the Brazilian government enacted
Provisional Measure No. 735, dated as of June 22, 2016, converted into Federal Law No. 13,360, dated as of November 17, 2016, which
changed several federal laws mainly to: (i) revise certain rules related to regulatory charges (CDE, CCC and RGE) and appoint CCEE
as the new manager of such charges in lieu of Eletrobras; (ii) facilitate the privatization of generation, transmission and distribution
companies, (iii) change certain requirements of the generation concession and authorization regimes; (iv) change rules related
to the MRE; (v) allow distribution companies to sell energy excess in the Free Market; (vi) extension of terms for commencement
of the supply under energy auctions in the regulated market; and (vii) transfer back from MME to ANEEL the authority to decide
about generation and transmission companies&rsquo; requests for extension of their facilities construction schedules.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In July 2017, the MME released the Public
Consultation No. 033/2017, named &ldquo;Proposal for improvement of the legal framework of the electricity sector&rdquo;. This
public consultation marks an important step to guide the MME in preparation of specific legislative proposals capable of providing
measures of economic rationalization and modernization of the electricity sector. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In August 2017, Decree No. 9,143/2017
changed the frequency of the auctions for new energy and authorized the distribution companies to negotiate contracts for the sale
of energy in the Free Market to Free Consumers and other agents (generators, marketers, and self-producers), provided that these
contracts are linked to excess in energy contracted in auctions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In January 2018, Decree No 9,271/2018
regulated the granting of a new energy concession in the event of privatization of an energy generation concession holder that
provides public services, in accordance with Law No 9.074, dated July 7, 1995. Pursuant to this decree, the Brazilian Federal Government
may grant a new concession contract for a period of up to 30 years to the entity that results from a bidding process for the privatization
of a concessionaire previously controlled directly or indirectly by a federal, state or municipal governmental entity. This decree
determined that [the concessionaire shall request a new concession contract during the remaining period of its concession (up to
60 months counted from the end of the concession)]. This decree was amended in November 2019 pursuant to Decree No 10,135 in order
to reduce the deadline for the concessionaire to request the granting of a new agreement, from 60 months to 42 months counted from
the end of the concession and required the privatization process to be concluded no later than 18 months prior to the termination
of the prior concession.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">During 2018, the Brazilian federal government
concluded the privatization of Eletrobras&rsquo; distribution companies Companhia Energ&eacute;tica do Piau&iacute; - Cepisa, Companhia
Energ&eacute;tica de Rond&ocirc;nia S.A. - Ceron, Companhia de Eletricidade do Acre - Eletroacre, Boa Vista Energia S.A. - Boa
Vista Energia, Companhia Energ&eacute;tica de Alagoas - Ceal and Amazonas Distribuidora de Energia S.A. - Amazonas Distribuidora.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2019, the National Energy Policy
Council (<I>Conselho Nacional de Pol&iacute;tica Energ&eacute;tica </I>&ndash; CNPE) launched a program pursuant to its Resolution
No. 16 to boost the natural gas market and foster competition by promoting free competition and using thermoelectric plants as
a vehicle for creating demand for the better use of natural gas from the Pre-Salt layer.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In December 2019, MME published the Ordinance
No. 465/2019, determining that MME will gradually decrease, over the next years, the power limits to contract electric power by
consumers served at any voltage, allowing them to purchase energy from conventional sources, considering the following schedule:
(i) from January 1, 2021: consumers with demand equal to or greater than 1,500 kW; (ii) from January 1, 2022: consumers with demand
equal to or greater than 1,000 kW; and (iii) January 1, 2023: consumers with demand of 500 kW or more. Furthermore, by January 31, 2022, ANEEL and CCEE shall present
studies on the regulatory measures necessary to allow the opening of the Free Market for consumers with electric load below 500
kW.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In January 2020, the ONS implemented the
Short Term Hydrothermal Dispatch Model (Modelo de Despacho Hidrot&eacute;rmico de Curt&iacute;ssimo Prazo - DESSEM), in order to
optimize the operations of National Interconnected System (<I>Sistema Interligado Nacional</I> &ndash; SIN), and to reduce the
difference between the planned dispatch and the one that is actually carried out by taking into account factors related to the
electric grid, the operation of hydroelectric power plants, thermoelectric plants and other sector components. The execution of
DESSEM meets the schedule set forth in Ordinance MME n&ordm; 301, dated July 31, 2019.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Potential New Regulatory Framework</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The following
potential changes to the Brazilian regulatory framework may have a direct impact in our operations, as our business is subject
to comprehensive regulation by various Brazilian legal and regulatory bodies, especially the MME (which proposes sector policies)
and ANEEL (which regulates, supervises and inspects various aspects of our business, including our tariff rates).</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In February 2018, the MME published on
its website a report of the public hearing, reflecting the final proposal for improvements to the energy regulatory framework,
which were especially motivated by technological, social and environmental matters, as well as difficulties arising from the current
business models. Among the discussed topics, the following stand out:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Termination of the quota system applicable
to hydropower plants (HPP) concessions that have been extended or granted through competitive biddings, in accordance with Federal
Law No. 12,783/2013, and allocation of part of the economic benefit of grants to the Energy Development Account (Conta de Desenvolvimento
Energ&eacute;tico, or CDE) in order to reduce what is charged to the population;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lowering the minimum thresholds for accessing
the Free Market;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Approach between the short-term price
formation and the operating cost of the system;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Whether energy and ballast (currently
combined for commercialization purposes) should be segregated;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Effects of the migration of consumers
to the Free Market;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Market for environmental attributes; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Attraction of foreign capital for investments
in the Brazilian energy sector;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">More efficient tariff discounts;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Allocation of resources from the global
reversion reserve to the transmission segment;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Guidelines for the use of research and
development resources;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Modernization of the regulated market;
and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Reduction of judicial disputes regarding
the hydrological risk. </FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In May 2018, most of the improvements
proposed by the MME with respect to the regulatory framework applicable to the energy sector were included in Bill No. 1,917/2015
of the House of Representatives, known as the bill for the energy bill portability (<I>Projeto de Lei da Portabilidade da Conta
de Luz</I>). This bill is still subject to analysis in the House of Representatives and, if approved, will depend on further approval
by the Senate and the President of Brazil.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Another legislative initiative waiting
for approval is the Senate Bill No. 10,985/2018 (formerly, Bill No. 209/2015), which addresses the judicial disputes in the short-term
energy market known as GSF. This bill is currently under analysis in the Senate.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; line-height: 106%">Also, there are initiatives
in order to promote the modernization of the energy sector. Ordinance MME No.&nbsp;187/2019 established a working group in order
to develop proposals for the modernization of the energy sector, which released a report in October, 2019 with measures that should
be adopted or studied, including topics such as (i) opening of the consumer market; (ii) pricing mechanism for the short-market;
(iii) expansion of the Free Market accommodating new technologies and new business models; (iv) Energy Reallocation Mechanism;
(v) cost and risk allocation; (vi) introduction of new technologies; and (vii) sustainable distribution services. This working
group has been appointed for a 2-year term, which may be extended for 1 additional year.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In November 2019, the Brazilian Federal
Government submitted to Brazilian Congress Bill No. 5,877, which, among other matters, address the privatization of Centrais El&eacute;tricas
Brasileiras S.A. - Eletrobras. Such bill determines the privatization of Eletrobras pursuant to a capital increase and public offering
of new common shares (that entitle their holders to voting rights), resulting in the dilution of the stake held by the Brazilian
Federal Government in Eletrobras.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In November 2019, ANEEL submitted a proposed
amendment to Resolution No. 482/2012 to a public hearing. This resolution refers to the distribution of micro and mini energy generation.
The update of such rules was required in 2015 by Resolution 687/2015 and suggests improvements to the credit compensation system
in view of changes to distributed generation in recent years.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In December 2019, CNPE approved its Resolution
No. 29, pursuant to which (i) it reviewed the general criteria adopted with respect to supply guarantee in studies on offer expansion,
planning of the SIN operations, and calculations of energy physical guarantees and power of a generation project. However, MME
shall determine the specific thresholds for such criteria, which is used in the calculation of physical guarantees and plans for
expansion. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">These potential
changes to the regulatory framework applicable to the Brazilian Energy Sector may impact our operations in the coming years.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Concessions</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The companies
or consortia that wish to build or operate facilities for generation, transmission or distribution of electricity in Brazil must
participate in a competitive bidding process or must apply to the MME or to ANEEL for a concession, permission or authorization,
as the case may be. Concessions grant rights to generate, transmit or distribute electricity in a specific concession area for
a specified period. This period is 35 years for generation concessions granted after 2003, and 30 years for new transmission or
distribution concessions. In accordance with the 2013 Concession Renewal Law, generation and distribution concessionaires may renew
their concession contracts that were in effect as of 1995 and transmission concessionaires may renew their concession contracts
that were in effect prior to and as of 1995 for an additional period of 30 years, provided that the concessionaires agree to amend
the concession contracts to reflect certain new terms and conditions established by the law. The 2013 Concession Renewal Law does
not impact generation concessions granted after 2003, as they are non-renewable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Concessions
Law establishes, among others, the conditions that the concessionaire must comply with when providing electricity services, customers&rsquo;
rights and the respective rights and obligations of the concessionaire and the granting authority. In addition to the Concessions
Law, the concessionaire must also</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">comply with the general regulations governing
the electricity sector. The main provisions of the Concessions Law and related ANEEL regulations are summarized as follows:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Adequate
service</I>. The concessionaire must render adequate service to all customers in its concession and must maintain certain standards
with respect to regularity, continuity, efficiency, safety and accessibility.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Use of
land</I>. The concessionaire may use public land or request that the granting authority expropriate necessary private land for
the benefit of the concessionaire. In the latter case, the concessionaire must compensate the affected private landowners.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Strict
liability</I>. The concessionaire is strictly liable for all damages arising from the provision of its services.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Changes
in controlling interest</I>. The granting authority must approve any direct or indirect change in the concessionaire&rsquo;s controlling
interest.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Intervention
by the granting authority</I>. The granting authority may intervene in the concession, through ANEEL, to ensure the adequate performance
of services, as well as the full compliance with applicable contractual and regulatory provisions. Once ANEEL determines the intervention,
limited to one year, but extendable for additional two years, it must designate a third party to manage the concession. Within
30 days of the determination of the intervention, the granting authority&rsquo;s representative must commence an administrative
proceeding in which the concessionaire is entitled to contest the intervention. The administrative proceeding must be completed
within 1 year. The shareholders of the concessionaire under intervention must submit to ANEEL, within 60 days of the determination
of the intervention, a recovery and correction plan. If ANEEL approves such plan, the intervention is terminated. In the event
ANEEL does not approve the plan, the granting authority may: (i) declare forfeiture of the concession; (ii) determine the spin-off,
incorporation, merger or transformation of the concessionaire, incorporation of a subsidiary or assignment of quotas/shares to
a third party; (iii) determine the change of control of the concessionaire; (iv) determine a capital increase of the concessionaire;
or (v) determine the incorporation of an special purpose company.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Termination
of the concession</I>. The termination of the concession agreement may occur by means of expropriation and/or forfeiture. Expropriation
is the early termination of a concession for reasons related to the public interest. An expropriation must be specifically approved
by law or decree. Forfeiture must be declared by the granting authority after ANEEL or the MME has made a final administrative
ruling that the concessionaire, among other things, (i) has failed to render adequate service or comply with an applicable law
or regulation, (ii) no longer has the technical, financial or economic capacity to provide adequate service, or (iii) has not complied
with penalties assessed by the granting authority. The concessionaire may contest any expropriation or forfeiture in the courts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">A concession
agreement may also be terminated (i) through the mutual agreement of the parties, (ii) upon the bankruptcy or dissolution of the
concessionaire, or (iii) following a final, non-appealable judicial decision rendered in a proceeding filed by the concessionaire.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">When a concession
agreement is terminated, all assets, rights and privileges that are materially related to the rendering of electricity services
revert to the Brazilian government. Following termination, the concessionaire is entitled to indemnification for its investments
in assets that have not been fully amortized or depreciated, after deduction of any amounts due by the concessionaire related to
fines and damages.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Expiration</I>.
When the concession expires, all assets, rights and privileges that are materially related to the rendering of the electricity
services revert to the Brazilian government. Following the expiration, the concessionaire is entitled to indemnification for its
investments in assets that have not been fully amortized or depreciated as of the expiration.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Penalties.
</I>ANEEL regulations govern the imposition of sanctions against electricity sector participants and determine the appropriate
penalties based on the nature and importance of the breach (including warnings, fines, temporary suspension from the right to participate
in bidding procedures for new concessions, licenses or</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">authorizations and forfeiture). For each
infraction, the fines can be up to 2% of the revenue (net of value-added tax and services tax) of the concessionaire in the 12-month
period preceding any penalty notice. Some infractions that may result in fines relate to the failure to request ANEEL&rsquo;s approval
to, among other things: (i) execute certain contracts between related parties; (ii) sell or assign the assets related to services
rendered as well as impose any encumbrance (including any security, bond, guaranty, pledge and mortgage) on these or any other
assets related to the concession or the revenues from electricity services; (iii) effect a change in the controlling interest of
the holder of the authorization or concession; and (iv) make certain changes to the bylaws. In the case of contracts executed between
related parties that are submitted for ANEEL&rsquo;s approval, ANEEL may seek to impose restrictions on the terms and conditions
of these contracts and, in extreme circumstances, require that the contract be rescinded.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Parallel Environment for
the Trading of Electric Energy</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Under the
New Industry Model Law, the purchase and sale of electricity is carried out in two different segments: (i) the regulated market,
which contemplates that distribution companies will purchase by public auction all the electricity they need to supply their customers;
and (ii) the Free Market, which provides for the purchase of electricity by non-regulated entities (such as the Free Customers
and energy traders).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">However, the
electricity arising from the following is subject to specific rules different from the rules applicable to the regulated market
and to the Free Market: (i) low capacity generation projects located near consumption points (such as certain co-generation plants
and small hydroelectric power plants), (ii) plants qualified under the Proinfa Program, an initiative established by the Brazilian
government to create incentives for the development of alternative energy sources, such as wind power projects, small hydroelectric
power plants and biomass projects, (iii) Itaipu, (iv) Angra 1 and 2 as from 2013 and (v) those generation concession contracts
extended or subject to a new bidding process in accordance with the 2013 Concession Renewal Law.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The electricity
generated by Itaipu will continue to be sold by Eletrobras to the distribution concessionaires operating in the South, Southeast
and Midwest portions of the Interconnected Transmission System. The rates at which Itaipu-generated electricity is traded are denominated
in U.S. dollars and established pursuant to a treaty between Brazil and Paraguay. As a consequence, Itaipu rates rise or fall in
accordance with the variation of the <I>real</I>/U.S. dollar exchange rate. Changes in the price of Itaipu-generated electricity
are, however, subject to the Parcel A cost recovery mechanism discussed as follows under &ldquo;Distribution Tariffs&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Beginning
January 2013, the energy generated by nuclear plants Angra 1 and 2 started to be sold by Eletronuclear to the distribution concessionaires
at a rate calculated by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The New Industry
Model Law does not affect Bilateral Agreements entered into before 2004.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"><I>The Regulated Market</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In the regulated
market, distribution companies must purchase their expected electricity requirements for their Captive Customers in the regulated
market through a public auction process. The auction process is administered by ANEEL, either directly or through the CCEE, under
certain guidelines provided by the MME.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Electricity
purchases are generally made through three types of Bilateral Agreements: (i) Energy Agreements (<I>Contratos de Quantidade de
Energia</I>), (ii) Availability Agreements (<I>Contratos de Disponibilidade de Energia</I>) and (iii) allocation of energy quotas,
as defined by the ANEEL. Under an Energy Agreement, a generator commits to supply a certain amount of electricity and assumes the
risk that its electricity supply could be adversely affected by hydrological conditions and low reservoir levels, among other conditions,
which could interrupt the supply of electricity. In such case, the generator would be required to purchase electricity elsewhere
in order to comply with its supply commitments. Under an Availability Agreement, a generator commits to making a certain amount
of capacity available to the regulated market. In such case, the generator&rsquo;s revenue is guaranteed and the distributors must
bear the risk of a supply shortage. With respect to the third method (introduced by the 2013 Concession Renewal Law), the plants
that have had their concession renewed under the 2013 Concession Renewal Law lost the right to sell their energy, and from now
on will only receive compensation under the energy quota system as a result of the operation and maintenance of such facilities.
As a</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">result, energy generated by these generation
concessionaires are passed on to distributors at a lower cost through quotas that match the size of the markets served.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">With
respect to the generation plants with expired concessions, which are subject to a new competitive bidding process, the winner of
the competitive bidding process may be required to allocate up to 100% of the energy generated by this plant in quotas to the regulated
Market depending on the criteria adopted in the relevant auction process.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">The
estimate of demand from distributors is the principal factor in determining how much electricity the system as a whole will contract.
A distributor is obligated to contract all of its projected electricity needs. A deviation in actual demand from projected demand
could result in penalties to distributors. In the event of under-contracting, the distributor is penalized directly in an amount
that increases as the difference between the amounts of energy contracted for and actual demand increases. An under-contracting
distributor must also pay to meet its demand by purchasing energy in the Spot Market.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In the event
of over-contracting, where the contracted volume falls between 100% and 105% of actual demand, the distributor is not penalized
and the additional costs are compensated customers&rsquo; tariffs. Where the contracted volume is over 105% of actual demand, the
distributor must sell energy in the Spot Market. If the contract price proves lower than the current Spot Market price, the distributor
sells its excess energy for a profit. On the other hand, if the contract price is higher than the Spot Market price, the distributor
sells its excess energy at a loss. ANEEL Normative Resolution No. 711, dated April 19, 2016, allowed distribution companies to
renegotiate their energy purchase agreements in the regulated market to reduce the contracted amounts. The Federal Law No. 13,360,
dated November 17, 2016, also permitted the sale of excess energy by distribution companies in the Free Market. Resolutions No.
824, dated July 10, 2018, and 833, dated December 4, 2018, have recently provided additional rules on the methodology to be adopted
by distribution companies with respect to the Mechanism of Surplus Sales (<I>Mecanismo de Venda de Excedentes</I>, or MVE).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">With respect
to the granting of new concessions, regulations provide that bids for new hydroelectric generation facilities may include, among
other things, the minimum percentage of electricity to be supplied in auctions in the regulated market. Concessions for new generation
projects, such as Mau&aacute; and Col&iacute;der in our case, are non-renewable, meaning that upon expiration, the concessionaire
must again complete a competitive bidding process.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"><I>The Free Market</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Free Market
covers transactions between generation concessionaires, Independent Power Producers &ndash; IPPs, self-generators, energy traders,
exporters and importers of electric energy and Free Customers. The Free Market also covers bilateral agreements between generators
and distributors signed under the old model, until they expire. Upon expiration, such contracts must be executed under the New
Industry Model Law guidelines.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">A consumer
that is eligible to choose its supplier may only do so upon the expiration of its contract with the local distributor and with
advance notice or, in the case of a contract with no expiration date, upon 15 days&rsquo; notice in advance of the date on which
the distributor must provide MME with its estimated electricity demand for the year. In the latter case, the contract will only
be terminated in the following year. Once a consumer has chosen the Free Market, it may only return to the regulated system with
five years prior notice to its regional distributor, provided that the distributor may reduce such term at its discretion. This
extended period of notice seeks to assure that, if necessary, the distributor can buy additional energy in auctions on the regulated
market without imposing extra costs on the captive market.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Private generators
may sell electricity directly to Free Customers. State-owned generators may sell electricity directly to Free Customers but are
obligated to do so only through private auctions carried out by the state-owned generators exclusively to Free Customers or by
the Free Customers.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">As mentioned
above, recently, Federal Law No. 13,360, dated November 17, 2016, also permitted the sale of excess energy by distribution companies
in the Free Market, but the effectiveness of the rule is still subject to further regulation by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Focusing on
the future of the electricity sector, the Ministry of Mines and Energy launched Public Consultation No. 33/2017 with the purpose
of obtaining the view of different participants around improvements in the business model of the sector. Issues such as the expansion
of the Free Market and removal of barriers to the entry of its participants, hourly energy price, adequate allocation of risks,
security of supply and socio-environmental sustainability were discussed. Further regulation is expected for the years to come
with bills being discussed in the Brazilian Congress in order to implement reforms in the power sector. For more information see
&ldquo;Potential New Regulatory Framework&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Regulation under the New
Industry Model Law and further rules enacted</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">A July 2004
decree governs the purchase and sale of electricity in the regulated market and the Free Market, as well as the granting of authorizations
and concessions for electricity generation projects. This decree includes, among other items, regulations relating to auction procedures,
the form of power purchase agreements and the mechanism for passing costs through to final customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">These regulations
establish the guidelines under which electricity-purchasing agents must contract their electricity demand. Electricity-selling
agents must show that the energy to be sold comes from existing or planned power generation facilities. Agents that do not comply
with such requirements are subject to penalties imposed by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">These regulations
also require electricity distribution companies to contract for 100% of their energy needs primarily through public auctions. In
addition to these auctions, distribution companies can purchase limited amounts (up to 10% of their demand) from: (i) generation
companies that are connected directly to the distribution company (except for hydroelectric power plants with capacity higher than
30 MW and certain thermoelectric power plants) (ii) electricity generation projects participating in the initial phase of the Proinfa
Program, (iii) the Itaipu Power Plant and (iv) quotas from those generation concession contracts extended or subject to a new competitive
bidding process in accordance with the 2013 Concession Renewal Law.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The MME establishes
the total amount of energy that will be contracted in the regulated market, the number and the type of generation projects that
will be auctioned each year.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">All electricity
generation, distribution and trading companies, independent producers and Free Customers are required to notify MME, by August
1<SUP>st</SUP> of each year of their estimated electricity demand or estimated electricity generation, as the case may be, for
each of the subsequent five years. In advance of each electricity auction, each distribution company is also required to inform
MME of the amount of electricity that it intends to contract in the auction. In addition, distribution companies are required to
specify the portion of the contracted amount they intend to use to supply potentially Free Customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Auctions in the Regulated
Market</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Electricity
auctions for new generation projects are held from the third to the seventh year before the initial delivery date of electricity
(&ldquo;A-3 to A-7 Auctions&rdquo;). Electricity auctions for existing generation projects are held (i) from the first to the fifth
year before the initial delivery date (&ldquo;A to A-5 Auctions&rdquo;), and (ii) up to four months before the initial delivery
date (&ldquo;Adjustment Auctions&rdquo;).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">New and existing
power generators may participate in the Reserve Energy Auctions as long as these generators increase the power system capacity
or if they did not achieve commercial operation by January 2008. Invitations to bid in the auctions are prepared by ANEEL in accordance
with guidelines established by the MME, including the requirement that the lowest bid wins the auction. Each generation company
that participates in the auction executes a contract for the purchase and sale of electricity with each distribution company, in
proportion to the distribution companies&rsquo; respective estimated demand for electricity, except for the market adjustment and
Reserve Energy Auctions.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The contracts
for new generation projects have a term between 15 and 35 years, and the contracts for existing generation projects have a term
between 1 and 15 years. Contracts arising from market Adjustment Auctions are limited to a two-year term. The reserve energy contracts
are limited to a 35-year term.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The quantity
of energy contracted from existing generation facilities may be reduced for three reasons: (i) to compensate for Captive Customers
that become Free Customers; (ii) to compensate for market deviations from the estimated market projections (up to 4% per year of
the annual contracted amount, beginning two years after the initial electricity demand is estimated); and (iii) to adjust the quantity
of contracted energy in bilateral agreements entered into prior to the enactment of the New Industry Model Law.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">With regard
to (i) above, the reduction in net revenue caused when a Captive Customer becomes a Free Customer is partially compensated by the
increased amounts that Free Customers are required to pay to use our distribution system. However, a Free Customer may disconnect
from our distribution grid (and therefore cease to pay us a distribution tariff) if it chooses to connect directly to the Interconnected
Transmission System or if it generates energy for self-consumption and transports this energy without using our distribution grid.
Because a Free Customer that connects directly to the Interconnected Transmission System no longer pays us a distribution tariff,
we might not be able to fully recover this loss in revenues.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Since 2004,
CCEE has conducted twenty-seven (27) auctions for new generation projects, twenty two (22) auctions for energy from existing power
generation facilities, ten (10) auctions for reserve energy in order to increase energy supply security, three (3) auctions from
alternative energy sources and thirteen (13) auctions for market adjustments. No later than August 1 of each year, the generators
and distributors provide their estimated electricity generation or estimated electricity demand for the five subsequent years.
Based on this information, MME establishes the total amount of electricity to be traded in the auction and determines which generation
companies will participate in the auction. The auction is carried out electronically in two phases.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">After the completion
of the auction (except in the case of reserve energy auction), generators and distributors execute the CCEAR, in which the parties
establish the price and amount of the energy contracted in the auction. The price is adjusted annually based on price variations
published by the IPCA. The distributors grant financial guarantees to the generators (mainly receivables from the distribution
service) to secure their payment obligations under the CCEAR.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Also after
completion of the Reserve Energy Auction, the generation concessionaire and the CCEE execute the <I>Contrato de Energia de Reserva</I>,
in which the parties establish the price and amount of the energy contracted for in the auction. The distributors, Free Customers
and self-producing customers then execute the <I>Contrato de Uso da Energia de Reserva</I> (&ldquo;CONUER&rdquo;) with CCEE, in
order to provide for the terms of the use of the reserve energy. The reserve energy customers grant financial guarantees to CCEE
to secure their payment obligations under CONUER.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The 2013 Concession
Renewal Law established that generation concessions entered into prior to 2003 that were not renewed would be subject to a new
competitive bidding process and that the energy generated by these facilities will be allocated by the Brazilian federal government
in quotas to the regulated market, for purchase by distribution concessionaires. On November 25, 2015, ANEEL carried out a competitive
bidding process for the grant of new 30-year concessions of 29 hydroelectric plants in accordance with the 2013 Concession Renewal
Law. Until December 31, 2016, 100% of the electricity generated by such 29 hydroelectric plants must be destined to the regulated
market and, as of January 1, 2017, the percentage was reduced to 70%. On September 27, 2017, the ANEEL carried another competitive
bidding process for the grant of new 30-year concessions of 4 hydroelectric plants in accordance with the 2013 Concession Renewal
Law. In this auction, the percentage destined to the regulate market was 70% since the beginning of the concession.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>The Annual Reference Value</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Brazilian
regulation establishes a mechanism (&ldquo;Annual Reference Value&rdquo;) that limits the costs that can be passed through to final
customers.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The regulation
establishes certain limitations on the ability of distribution companies to pass-through costs to customers, such as no pass-through
of costs for electricity purchases that exceed 105% of actual demand.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The MME establishes
the maximum acquisition price for electricity generated by existing projects. If distributors do not comply with the obligation
to fully contract their demand, the pass-through of costs from energy acquired in the short-term market is the lower of the Spot
Market price and the Annual Reference Value.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Electric Energy Trading Convention</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Electric
Energy Trading Convention (<I>Conven&ccedil;&atilde;o de Comercializa&ccedil;&atilde;o de Energia El&eacute;trica</I>) regulates
the organization and functioning of the CCEE and defines, among other things, (i) the rights and obligations of CCEE participants,
(ii) the penalties to be imposed on defaulting agents, (iii) the means of dispute resolution, (iv) trading rules in the regulated
and Free Markets, and (v) the accounting and clearing process for short-term transactions.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Restricted Activities of
Distributors</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Distributors
in the Interconnected Transmission System are not permitted to (i) engage in activities related to the generation or transmission
of electric energy, (ii) hold, directly or indirectly, any interest in any other company, corporation or strategic agreement, or
(iii) engage in activities that are unrelated to their respective concessions, except for those permitted by law or the relevant
concession agreement. According to Law No. 13,360/2016, distributors are allowed to sell energy to Free Customers. This possibility
is regulated by ANEEL through REH No. 824/2018, with the application of the Electricity Surplus Sale Mechanism - MVE.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Elimination of Self-Dealing</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Since the purchase
of electricity for Captive Customers is now performed through auctions in the regulated market, &ldquo;self-dealing&rdquo; (under
which distributors were permitted to meet up to 30% of their energy needs using energy that was either self-produced or acquired
from affiliated companies) is no longer permitted.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Challenges to the Constitutionality
of the New Industry Model Law</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The New Industry
Model Law is currently being challenged on constitutional grounds before the Brazilian Supreme Court. The Brazilian government
moved to dismiss the actions, arguing that the constitutional challenges were moot because they related to a provisional measure
that had already been converted into law. To date, the Supreme Court has not reached a final decision and we do not know when such
a decision may be reached. While the Supreme Court is reviewing the law, its provisions have remained in effect. Regardless of
the Supreme Court&rsquo;s final decision, certain portions of the New Industry Model Law relating to restrictions on distributors
performing activities unrelated to the distribution of electricity, including sales of energy by distributors to Free Customers
and the elimination of self-dealing, are expected to remain in full force and effect.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Tariffs for the Use of the Distribution and Transmission
Systems</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">ANEEL regulates
access to the distribution and transmission systems and establishes tariffs for the use of these systems. The tariffs are (i) network
usage charges, which are charges for the use of the proprietary local grid of distribution companies (&ldquo;TUSD&rdquo;) and (ii)
for the use of the transmission system, which is the Interconnected Transmission System and its ancillary facilities (&ldquo;TUST&rdquo;).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>TUSD</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Users of a
distribution grid pay the distribution concessionaire a tariff known as the TUSD (<I>Tarifa de Uso dos Sistemas El&eacute;tricos
de Distribui&ccedil;&atilde;o</I>). The TUSD is divided into two parts: one related to the contracted power in R$/kW and another
related to the regulatory charges in R$/kWh. The amount paid by the users of a distribution grid is calculated by multiplying the
maximum contracted power for each of the customer&rsquo;s points</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">of connection to the concessionaire&rsquo;s
distribution grid, by the tariff in R$/kW, plus the product of the power consumption by the tariff in R$/kWh, per month.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In relation
to the Captive Customers, the TUSD is part of the supply tariff that is calculated based on the voltage used by each customer.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>TUST</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The TUST (<I>Tarifa
de Uso do Sistema de Transmiss&atilde;o) </I>is paid by distribution companies, generators and Free Customers to transmission companies
for the use of the Interconnected Transmission System (electrical transmission system with a voltage equal or higher than 230 kV).
This tariff is revised annually according to (i) the location of the user of the Interconnected Transmission System and (ii) the
annual revenues that a transmission company is permitted to collect for the use of its assets in the Interconnected Transmission
System. The ONS, an entity that represents all transmission companies that own assets in the Interconnected Transmission System,
coordinates the payment of transmission tariffs to these transmission companies. Users of the Interconnected Transmission System
sign contracts with the ONS, which allows them to use the transmission grid in return for paying TUST.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Distribution Tariffs</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Distribution
tariff rates to final customers are subject to review by ANEEL, which has the authority to adjust and review these tariffs in response
to changes in energy purchase costs and market conditions. When adjusting distribution tariffs, ANEEL divides the costs of distribution
companies into (i) costs that are beyond the control of the distributor, (&ldquo;Parcel A costs&rdquo;), and (ii) costs that are
under control of distributors (&ldquo;Parcel B costs&rdquo;). ANEEL&rsquo;s tariff adjustment formula treats these two categories
differently.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.45pt">Parcel A
costs include, among others, the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">costs of electricity purchased by the
concessionaire to attend Captive Customers, in accordance to the regulatory model in force;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">charges for the connection to and use
of the transmission and distribution grids; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">energy sector regulatory charges.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Parcel B costs
include, among others, the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a component designed to pay the distributor
for the investments made by the distributor on the concession assets;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">depreciation costs; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a component designed to compensate the
distributor for its operating and maintenance costs.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Each distribution
company&rsquo;s concession agreement provides annual readjustments. In general, Parcel A costs are fully passed through to customers.
Parcel B costs, however, are adjusted for inflation in accordance with the IPCA Index, minus the X factor.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Electricity
distribution concessionaires are also entitled to periodic tariff revisions (<I>revis&atilde;o peri&oacute;dica</I>) every four
or five years. In these processes, Parcel B is recalculated, taking into account incentives for efficiency, quality improvement
and reasonable tariff. These revisions are aimed at (i) assuring necessary revenues to cover efficient Parcel B operational costs
and adequate compensation for investments deemed essential for services provided within the scope of each such company&rsquo;s
concession and (ii) determining the &ldquo;X factor&rdquo;. The fifth amendment to our concession agreement, which establishes
the renewal of our concession agreement, determines the Periodic Tariff Review every five years.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The X factor
for each distribution company is calculated based on the following components:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.55pt"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">P, based on the concessionaire&rsquo;s
productivity, which is calculated through the productivity of the distribution segment (PTF), determined by the relation between
the variation of the billed market and the operating and capital costs, plus the average growth of the billed market and the consumer
units of the concessionaire itself;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">T, based on the trajectory of the concessionaire&rsquo;s
operating costs, measured as the difference between the cost benchmarks established by ANEEL and the concessionaire&rsquo;s actual
operating costs; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Q, based on quality target indicators
that measure the interruption of energy supply to final customers, and other quality indicators. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In addition,
a distribution concessionaire may request an Extraordinary Tariff Review of its tariffs in case of evident economic-financial imbalance,
according to the admissibility criteria established through the Tariff Regulation Procedures (PRORET), sub-module 2.9. Extraordinary
tariff adjustments were granted (i) in June 1999 to compensate for increased costs of electricity purchased from Itaipu as a result
of the devaluation of the <I>real</I> against the dollar; (ii) in 2000 to compensate for the increase in Social Security Financing
Contribution (<I>Contribui&ccedil;&atilde;o para o Financiamento da Seguridade Social</I> - <I>COFINS</I>) from 2% to 3%; (iii)
in December 2001 to compensate for losses caused by the Rationing Program; (iv) in January 2013, due to the enactment of 2013 Concession
Renewal Law; (v) in March 2015, to compensate the costs related to the quotas of the Electric Development Account (CDE) and increased
costs with the purchase of energy, and (vi) in March 2017, to compensate the amount unduly included in the tariffs for captive
consumers in 2016, referring to the Angra III plant.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Since October
2004, on the date of a subsequent tariff adjustment or tariff revision, whichever occurs earlier, distribution companies have been
required to execute separate contracts for the connection and use of the distribution grid and for the sale of electricity to their
potentially Free Customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Tariff Flags (<I>Bandeiras Tarif&aacute;rias</I>)</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Effective
as of January 1, 2015, a new system has been introduced by the ANEEL to permit distribution concessionaires to pass on to their
final customer certain variable cost increases attributable to changes in hydrological conditions in Brazil, prior to the formal
tariffs periodic revisions made by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In accordance
with this model, a green, yellow or red flag, as determined by ANEEL, is included in invoices sent to final customers, reflecting
nationwide hydrological conditions (except for the State of Roraima). If a green flag is added to final customers&rsquo; invoices
due to satisfactory hydrological conditions, no additional charges are added. On the other hand, if these invoices contain yellow
or red flags, this indicates that distribution concessionaires are facing higher variable costs from the acquisition of electricity
and will pass these costs on to final customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Incentives</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In 2000, a
Federal decree created the Thermoelectric Priority Program, (<I>Programa Priorit&aacute;rio de Termoeletricidade, or </I>&ldquo;PPT&rdquo;),
for the purposes of diversifying the Brazilian energy matrix and decreasing Brazil&rsquo;s strong dependence on hydroelectric plants.
The incentives granted to the thermoelectric plants included in the PPT were: (i) guarantee of gas supply for 20 years, as per
a MME regulation, (ii) assurance that the costs related to the acquisition of the electric energy produced by thermoelectric plants
will be passed on to customers through tariffs up to the normative value established by ANEEL, and (iii) guarantee of access to
a special BNDES financing program for the electric energy industry.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In 2002, the
Brazilian government established the Proinfa Program to encourage the generation of alternative energy sources. Under the Proinfa
Program, Eletrobras would purchase the energy generated by alternative sources for a period of 20 years. In its initial phase,
the Proinfa Program was limited to a total</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">contracted capacity of 3,300 MW. In its
second phase, which should start after the 3,300 MW cap has been reached, the Proinfa Program intends to purchase up to 10% of
Brazil&rsquo;s annual electric energy consumption from alternative sources. The first phase of the Proinfa program commenced in
2004 and it so far has supported the construction of 131 alternative energy plants which is expected to reach the production of
11.2 million MWh. According to a decision of ANEEL, the total investment to the Proinfa Program in 2020 will be R$3.3 billion.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Energy Sector Regulatory Charges</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>EER</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The <I>Encargo
de Energia de Reserva </I>(&ldquo;EER&rdquo;) is a regulatory charge designed to raise funds for energy reserves that have been
contracted through CCEE and which are deposited in the Reserve Energy Account (<I>Conta de Energia de Reserva</I> &ndash; CONER).
These energy reserves, which are mandatory, were created in order to attempt to ensure a sufficient supply of energy in the Interconnected
Transmission System. The EER shall be collected from final customers of the Interconnected Transmission System. Beginning in 2010,
this charge has been collected on a monthly basis.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>RGR Fund</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In certain
circumstances, electric energy companies are compensated for certain assets used in connection with a concession if the concession
is revoked or is not renewed. In 1971, the Brazilian Congress created a reserve fund designed to provide these compensatory payments
(&ldquo;RGR Fund&rdquo;). In February 1999, ANEEL established a fee requiring public-industry electric companies to make monthly
contributions to the RGR Fund at an annual rate equal to 2.5% of the company&rsquo;s fixed assets in service, not to exceed 3%
of total operating revenues in any year. Since the enactment of the 2013 Concession Renewal Law, the RGR Fund has been used to
fund the compensations arising from the termination of non-renewed concessions. The 2013 Concession Renewal Law also allowed the
funds from the RGR Fund to be transferred to the CDE.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 37.4pt; margin-right: 0; margin-left: 0">According
to 2013 Concession Renewal Law, as from January 1, 2013, the concession contracts from concessionaires of (i) distribution; (ii)
transmission which competitive bidding process occurred after September 12, 2012; and (iii) transmission and generation which had
their concession contract renewed or had their underlying facilities subject to a new competitive bidding process are no longer
obliged to pay the annual RGR fee.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>UBP</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Some hydroelectric
generation enterprises (except small hydroelectric power plants) are required to make contributions for using a public asset, <I>Uso
de Bem P&uacute;blico</I> (&ldquo;UBP&rdquo;) according to the rules of the corresponding public bidding process for the granting
of concessions. Eletrobras receives the UBP payments in a specific account. See Note 27 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>ESS</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 37.4pt; margin-right: 0; margin-left: 0">The
costs related to maintaining system reliability and stability when thermoelectric plants generate energy to meet demand in the
National Connection System (SIN) are called System Service Charges, or <I>Encargos de Servi&ccedil;os de Sistema</I> (ESS). These
amounts are paid by each entity that purchases energy in the Spot Market (CCEE), proportional to each such entity&rsquo;s consumption.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 37.4pt; margin-right: 0; margin-left: 0">ESS
is expressed in R$/MWh and paid only to thermoelectric plants that generate energy in response to requests by the Electricity System
National Operator (ONS).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>CDE</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">In 2002, the
Brazilian government instituted the Electric Energy Development Account, <I>Conta de Desenvolvimento Energ&eacute;tico</I> (&ldquo;CDE
Account&rdquo;). The CDE Account is funded by (i) annual payments made by</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">concessionaires for the use of public assets,
(ii) penalties imposed by ANEEL, (iii) the annual fees paid by agents offering electric energy to final customers, by means of
an additional charge added to the tariffs for the use of the transmission and distribution grids and (iv) transfer of resources
from the Federal General Budget. The CDE Account was originally created, amongst others, to promote the availability of electric
energy services to all of Brazil and the competitiveness of the energy produced by alternative sources.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Currently,
CDE aims to fund several public policies in the Brazilian electricity sector, such as: universalization of the electricity service
throughout the national territory; granting of tariff discounts to various users of the service (low income; rural; Irrigating;
public water, sewage and sanitation services; incentive energy generation and consumption, etc.); low tariff on isolated electricity
systems (Fuel Consumption Account - CCC); competitiveness of electricity generation from the national coal source; among others.
The CDE is managed by CCEE since May, 2017, pursuant to Federal Law No. 13,360/2016. This charge had been substantially reduced
by the 2013 Concession Renewal Law (approximately 75% compared to its December 31, 2011 amount) in an attempt to reduce the cost
of electricity paid by final customers. The 2013 Concession Renewal Law also allowed the funds from the RGR Fund to be transferred
to the CDE Account, provided that the Federal Treasury would also contribute with the CDE Account and permit the funds deposited
in the CDE Account to be used in support of the electricity generation program in non-integrated electric grids (<I>sistemas el&eacute;tricos
isolados</I>) as well as to partially offset the increased costs borne by distribution concessionaires for the purchase of energy
in the Spot Market as a result of the non-renewal of generation concessions due to the 2013 Concession Renewal Law.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 37.4pt; margin-right: 0; margin-left: 0">On
March 7, 2014, the Brazilian government also permitted the transfer to distribution concessionaires of funds deposited in the CDE
Account to cover their respective costs arising from involuntary exposure to the Spot Market in January 2014 as a result of poor
hydrological conditions in 2013 and 2014, which mandated the acquisition of thermoelectric energy at higher prices in the Spot
Market, costs which distribution concessionaires were not able to pass on to Final Customers through regular Retail Tariffs prior
to annual readjustments or formal tariffs periodic revisions made by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Distribution
concessionaires will be able to pass on to its final customer a CDE Account charge, to the extent necessary to repay their respective
financing obligations contracted by the CCEE through the ACR Account. See &ldquo;Regulated Market Account &ndash; ACR Account.&rdquo;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On February
27, 2015, ANEEL approved a significant increase of the CDE fee charged to cover all of these additional costs supported by the
CDE Account. ABRACE, an association of Free Customers filed lawsuits to contest the increase of the CDE fee. Since July 2015, the
Free Customers associated with ABRACE benefit from an injunction suspending the increase of the CDE fee. Associations of distributors
of energy (ABRADEE, with whom Copel Distribui&ccedil;&atilde;o is associated) also obtained injunctions suspending its obligation
to withhold such CDE fees while ABRACE&acute;s and other consumers&rsquo; injunction remains in force.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Federal Law
No. 13,360/2016 established that the Federal Government must prepare a plan for a structural reduction of the CDE charge until
December 31, 2017, and it also provided that the revenues, expenses and beneficiaries of the CDE Account must be published monthly
by CCEE, among other changes. As a result, Decree n&ordm; 9,642/2018 was published, which determined the gradual reduction, in
5 years, of discounts granted to consumer units classified as Rural and Public Service of Water, Sewage and Sanitation, in Groups
A (high voltage) and B (low voltage).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Regulated Market Account
&ndash; ACR Account. </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 36.85pt">On April 2014,
the Brazilian government created the Regulated Market Account, <I>Conta no Ambiente de Contrata&ccedil;&atilde;o Regulada &ndash;
Conta-ACR</I> (&ldquo;ACR Account&rdquo;), to assist distribution concessionaires to cover their respective costs for the acquisition
of thermoelectric energy for the period from February 2014 to December 2014, incurred as a result of poor hydrological conditions.
Distributors incurred higher costs as a result of adverse hydrological conditions because they were required to buy thermoelectric
energy at higher prices in theSpot Market, and were unable to pass all these costs on to Final Customers prior to a formal tariff
periodic revision made by ANEEL. To fund the ACR Account, the Brazilian federal government authorized the CCEE to enter into credit
agreements with certain Brazilian financial institutions. An aggregate of R$21.7 billion,</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">composed of nine tranches, was deposited
in the ACR Account. Distribution concessionaires have been repaying this loan since 2015 by charging its final customers with additional
CDE Account amounts on a monthly basis. At first, the amount deposited in the ACR Account should be repaid by 2020. However, in
March 2019, ANEEL authorized CCEE to negotiate with the creditor financial institutions and seek early termination of the corresponding
loans, which occurred in September 2019</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify"><B><I>Itaipu Transmission Fee</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Itaipu
Hydroelectric Plant has an exclusive transmission grid and is not part of the Interconnected Transmission System. Companies that
are entitled to receive electricity from Itaipu pay a transmission fee in an amount equal to their proportional share of the Itaipu
generated electricity.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Use of Water Resources Tax</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Holders of
concessions and authorizations that allow for the exploitation of water resources must pay a total tax of 6.75% of the value of
the energy they generate, which for the purposes of this calculation is based on a rate set by ANEEL. Beginning on January 1, 2020,
ANEEL set this rate at R$79.62/MWh. The proceeds of this tax are shared among the states and municipalities where the plant or
the plant&rsquo;s reservoir is located, as well as with certain federal agencies.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>ANEEL Inspection Fee (TFSEE)</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The ANEEL
Inspection Fee is an annual fee due by the holders of concessions, permissions or authorizations equal to an ANEEL determined percentage
of their revenues. The ANEEL Inspection Fee requires these holders to pay up to 0.4% of their annual revenue to ANEEL in 12 monthly
installments.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Default on the Payment of
Regulatory Charges</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The failure
to pay required contributions to the RGR Fund, Proinfa Program or CDE Account or to make certain payments, such as those due from
the purchase of electric energy in the regulated market or from Itaipu, will prevent the defaulting party from receiving adjustments
or reviews of their tariffs (except for an extraordinary review) and will also prevent the defaulting party from receiving funds
from the RGR Fund or CDE Account. We comply with payment obligations related to Regulatory Charges.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Energy Reallocation Mechanism</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Energy
Reallocation Mechanism (<I>Mecanismo de Realoca&ccedil;&atilde;o de Energia<FONT STYLE="line-height: 106%">, </FONT></I><FONT STYLE="line-height: 106%">or
MRE)</FONT> attempts to mitigate the risks borne by hydroelectric generators due to variations in river flows (hydrological risk).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Under Brazilian
law, each hydroelectric plant is assigned a determined amount of &ldquo;assured energy&rdquo;, according to an energy supply risk
criteria defined by MME, based on historical river flow records. The assured energy also represents the maximum energy that can
be sold by the generator, which is set forth in each concession agreement, irrespective of the volume of electricity actually generated
by the facility.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The MRE tries
to guarantee that all participating plants receive the revenue corresponding to their assured energy, irrespective of the volume
of electricity generated by them. In other words, the MRE effectively reallocates the electricity, transferring the surplus from
those who have produced in excess of their assured energy to those that have produced less than their assured energy. The relocation,
which occurs in the Interconnected Transmission System, is determined by the ONS, considering the nationwide electricity demand
and hydrological conditions, regardless of the power purchase agreement of each individual generator. The volume of electricity
actually generated by the plant, whether more or less than their assigned assured energy quotient, is priced pursuant to a tariff
known as the &ldquo;Energy Optimization Tariff&rdquo;, designed to cover only the variable operation and maintenance costs of the
plant, so that generators are largely unaffected by the actual dispatch of their plants.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">Each
hydroelectric plant which has its concession contract renewed in accordance to 2013 Concession Renewal Law will no longer participate
in the MRE, and the hydrological risk from those plants will be borne by the distribution concessionaires under the National Interconnected
Power Grid. For the generation plants with expired concessions, which were subject to a new competitive bidding process under the
2013 Concession Renewal Law, 30% of the generated energy available for the generation concessionaire to sell in the market is also
subject to the MRE hydrological risk allocation mechanism. This risk does not impact our distribution business, since we are allowed
to increase the tariffs of our distribution customers to compensate any costs arising from this hydrological risk.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Research and Development</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The companies
holding concessions and permissions for distribution of electricity must invest a minimum of 0.50% of their annual net operational
revenues in research and development and 0.50% in energy efficiency programs. Beginning on January 1, 2023, these percentages will
become 0.75% and 0.25%, respectively.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">A company
holding concessions and authorizations for generation and transmission of electricity must invest a minimum of 1% of its annual
net operational revenues in research and development. A company that generates electricity exclusively from small hydroelectric
power plants, cogeneration or alternative energy projects is not subject to this requirement.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The amount
to be invested in research and development must be distributed as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">40% to the company research and development
projects, under the supervision of ANEEL;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">40% to the Ministry of Sciences and Technology,
to be invested in national research and development projects; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">20% to the MME, to defray EPE.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Environmental Regulations</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Brazilian
Federal Constitution includes environmental matters among the ones that are subject to concurrent legislative competence, meaning
that the Brazilian federal government enacts general rules, which are supplemented by rules passed by states; municipalities, in
turn, enact local rules or supplement federal and/or state legislation.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 37.4pt; margin-right: 0; margin-left: 0">In
1981, the National Environmental Policy was enacted in Brazil (Federal Law No. 6,938/1981). The Federal Environmental Crimes Act
(Federal Law No. 9,605/1998), which took effect in 1998, establishes a general framework of liability for environmental crimes.
Federal laws and statutes have established the National System for Management of Water Resources and the National Council of Water
Resources to address the major environmental issues facing the hydroelectric sector and users of water resources. In 2000, the
Brazilian government created an independent agency, the National Water Agency, to regulate and supervise the use of water resources.
In 2008, the Federal Decree No. 6,514/2008 was enacted to prescribe the administrative liability due for environmental infractions.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">The Brazilian
Forestry Code (Federal Law No. 12,651/2012) and related regulations establish rules regarding the maintenance and acquisition of
areas affected by hydroelectric plant reservoirs. These regulations may result in increased maintenance, reforestation and expropriation
costs to energy industry concessionaires. We have been developing conservation actions in our power plants, as established in the
Forestry Code, since their construction.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Under Brazilian
environmental Law, one single action that causes risk to the environment can trigger three types of liability: civil, administrative
and criminal.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Thus, a violator
of an environmental law may be subject to administrative and criminal sanctions and, in case environmental damage occurs, will
have an obligation to repair or provide compensation to the affected party. Administrative sanctions may apply to both the company
and the individual representatives of the company concomitantly and may include substantial fines and the suspension of activities.
Criminal sanctions may include fines and, for individuals, including for directors and employees of companies that commit environmental
crimes, possible imprisonment.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt">Our energy
generation, distribution and transmission facilities are subject to prior environmental licensing procedures, which may include
the preparation of environmental impact assessments before such facilities are constructed. As a condition for the regularity of
these procedures, we must also request authorization from certain regulatory entities, such as Brazilian Institute of National
Historic and Artistic Heritage (<I>Instituto do Patrim&ocirc;nio Hist&oacute;rico e Art&iacute;stico Nacional &ndash; IPHAN</I>),
an oversight body that is in charge of the protection and preservation of Brazilian cultural heritage (archeological, material
and immaterial). Once the respective environmental licenses are obtained, their maintenance is still subject to compliance with
certain requirements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><A NAME="a_018"></A>Item 4A. Unresolved Staff Comments</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><A NAME="a_019"></A>Item 5. Operating and Financial
Review and Prospects</B></P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The information presented in this
section should be read together with our audited consolidated statements of income for the years ended December 31, 2019, 2018
and 2017 that have been prepared in accordance with IFRS as issued by the IASB. For more information see &ldquo;Presentation of
Financial and Other Information&rdquo; and Note 3 to our audited consolidated financial statements for the year ended December
31, 2019.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_020"></A><B>OVERVIEW</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Brazilian Economic Conditions</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">All of our
operations are in Brazil, and we are affected by general Brazilian economic conditions. In particular, the general performance
of the Brazilian economy affects demand for electricity, and inflation affects our costs and our margins. The Brazilian economic
environment faced periods of instability in recent years, impacting the performance of the Brazilian GDP growth rates, with an
increase of 2.3% in 2013 and 0.1% in 2014 and a decrease of 3.8% in 2015. The growth rate was equally negative in 2016, with a
decrease of 3.3%. The economic environment showed signs of recovery in 2017, with an increase of 1.0% in growth rate. In 2018 and
2019, the economic environment continued to recover, with an increase of 1.1% and 1.1%, respectively, in growth rate, but mainly
due to the uncertainties caused by the Brazilian presidential election, the <I>real </I>has depreciated in comparison to the U.S.
dollar.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table shows selected economic data for the periods indicated:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="background-color: white; line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; background-color: white">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year
        ended December 31,</B></P></TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="width: 58%; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 10%">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD STYLE="width: 1%">
<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Inflation (IGP-DI)&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.70%</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.10%</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(0.42)%</FONT></TD>
    <TD STYLE="padding-right: 11pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Appreciation (depreciation) of the <I>real </I>vs. U.S. dollar&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(4.0%)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(17.13)%</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1.48)%</FONT></TD>
    <TD STYLE="padding-right: 11pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Period-end exchange rate &ndash; US$1.00<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4.0307</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.8748</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.3080</FONT></TD>
    <TD STYLE="padding-right: 6.5pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Average exchange rate &ndash; US$1.00&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.9461</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.6558</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.2031</FONT></TD>
    <TD STYLE="padding-right: 6.5pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Change in real GDP&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.1</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.1%</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.0%</FONT></TD>
    <TD STYLE="padding-right: 11pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Average interbank interest rates<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4.40%</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6.40%</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9.80%</FONT></TD>
    <TD STYLE="padding-right: 11pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 11.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 6pt; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">The <I>real</I>/U.S. dollar exchange rate at December 31, 2019 was R$4.03 per US$1.00.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">Calculated in accordance with Central Clearing and Custody House, or <I>Central de Cust&oacute;dia e Liquida&ccedil;&atilde;o
Financeira de T&iacute;tulos</I> (&ldquo;CETIP&rdquo;), methodology (based on nominal rates).</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 6%"><I>Sources</I>:</TD>
    <TD STYLE="text-align: justify"><I>FGV &#8210; Funda&ccedil;&atilde;o Get&uacute;lio Vargas</I>, the Brazilian Central Bank, the Brazilian Geography and Statistics
Institute IBGE and CETIP.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify"><B><I>Rates and Prices </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our operational
results are significantly affected by changes in the prices at which our generation business sells energy, and by the prices at
which our distribution business buys and resells energy.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
generation business sells energy at unregulated prices in the regulated market, in the Free Market and in the Spot Market. Our
generation business allocates the amount of energy that it sells in each of these markets seeking to maximize returns, based on
factors such as: (i) the requirements of its concession contracts, many of which set a minimum percentage of energy generated in
a particular concession that must be sold in the regulated market; (ii) the volume of energy that we plan to sell to Free Customers
for a given year; and (iii) the outlook of the short-term, medium-term and long-term for energy prices generally. Although sales
in the Free Market and the Spot Market are not directly regulated, they are influenced by energy regulatory policy. The prices
at which our generation business sells energy are not regulated.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our distribution
business purchases enough energy to meet 100% of the demand we forecast for our final customers in auctions at unregulated prices
in the regulated market. Our distribution business resells that energy to final customers at regulated tariffs that take into consideration
the price at which the energy was purchased. If our forecasts fall short of the actual electricity demand of our final customers,
we may be forced to make up for the shortfall by entering into short-term agreements to purchase electricity in the Spot Market.
If our forecasts exceed the actual demand of our final customers, our distribution business sells the excess energy in the Spot
Market. The margins in our distribution business tend to be relatively stable due to the regulated nature of the distribution business,
while the margins in our generation business are typically larger but less stable, since they are substantially market regulated.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Sales to final
customers (which include sales by our distribution business to Captive Customers, sales by our generation business and sales by
our trading business to Free Customers) represented approximately 53.5% of the volume of electricity we made available in 2019,
and accounted for 69.1% of our energy sales revenues. Almost all of such sales were to Captive Customers. For more information,
see &ldquo;Item 4. Information on the Company&mdash;The Brazilian Electric Power Industry&mdash;Distribution Tariffs&rdquo;. In
general, if our costs for energy increase, the tariff process permits us to recover these costs from our customers through higher
rates in future periods. However, if we do not receive tariff increases to cover our costs, if the recovery of these costs is delayed,
or if our Board of Directors elects to reduce the tariff increase awarded by ANEEL, our profits and cash flows may be adversely
affected.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">ANEEL modifies
our Retail Tariffs annually, generally in June. Since January 2013, the adjustments have been as follows.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In January 2013, due to the enactment
of 2013 Concession Renewal Law, we were subject to an extraordinary revision that has been approved by ANEEL. The average impact
of this extraordinary review in the tariffs we charge our customers was a decrease of 19.28%. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2013, ANEEL approved the annual
revision of our Retail Tariffs, increasing them by an average of 13.08%, of which 11.40% related to the tariff increase and 1.68%
referred to an increase in recovery of deferred regulatory accounts (CVA). After giving effect to the recovery of Parcel A costs,
the average effect of this tariff readjustment on our Captive Customers was an increase of 14.61%. However, Copel Distribui&ccedil;&atilde;o
requested a partial deferral of this adjustment, which was authorized by ANEEL and approved on July 9, 2013. The amount of R$255.9
million was therefore deferred, and to be included as a financial component in the 2014 annual revision. This deferral reduced
the average effect of the tariff adjustment to 9.55%.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2014, ANEEL approved the annual
adjustment of our Retail Tariffs, increasing them by an average of 35.38%, of which 25.05% related to the tariff increase and 10.34%
related to an increase in recovery of deferred regulatory accounts (CVA). After giving effect to the recovery of Parcel A costs,
the average effect of this tariff adjustment on our Captive Customers was an increase of 39.71%. However, Copel Distribui&ccedil;&atilde;o
requested a partial deferral of this adjustment, which was authorized by ANEEL and approved on July 22, 2014. The amount of R$898.3
million was therefore deferred, and to be included as a financial component in the 2015 annual readjustment. This deferral reduced
the average effect of the tariff revision to 24.86%.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In March 2015, ANEEL approved an extraordinary
revision due to a series of events that significantly impacted the distribution concessionaires&rsquo; costs, which were not originally
foreseen in the 2014 Retail Tariff increase, such as the increase of Itaipu tariffs (46.14%) and higher prices to purchase energy
in recent energy auctions. Copel Distribui&ccedil;&atilde;o&rsquo;s average tariff revision approved by ANEEL was 36.79% starting
from March 2, 2015. Of this total, 22.14% related to CDE Account charges that have been passed to customers and 14.65% relates
to (i) Itaipu&rsquo;s tariff increase and (ii) the higher prices paid by us to purchase energy in recent energy auctions that have
been passed to customers.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2015, ANEEL authorized the annual
revision of Copel Distribui&ccedil;&atilde;o&rsquo;s tariff to final customers, increasing them by an average of 15.32%, of which
(i) 20.58% related to the inclusion of the financial components, which will be recovered in the 12 months subsequent to the adjustment
(including the amount of R$935.3 million corresponding to the deferrals in 2013 and 2014), (ii) 0.34% related to the restatement
of Portion B, (iii) (3.25)% related to the adjustment of Portion A, and (iv) (2.35)% reflected the removal of the financial components
from the previous process. The adjustment was fully applied to Copel Distribui&ccedil;&atilde;o&rsquo;s tariffs as of June 24,
2015.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2016, ANEEL approved the fourth
periodic review of our Retail Tariffs, decreasing them by 12.87%, of which: (1.73)% related to the inclusion of financial components;
4.48% due to the update of Portion B; (2.57)% related to the update of Portion A; and (13.05)% reflecting the removal of the financial
components of the previous tariff process.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In March 2017, ANEEL approved an extraordinary
tariff revision to correct the amount unduly included in the tariffs for captive consumers in 2016. The return corresponded to
the energy that was to be generated by the Angra III power plant; however, the plant was not yet in commercial operation. The refund
of the amount charged the most was made in a single installment during the month of April 2017, and, as of May 2017, the tariffs
were adjusted to disregard the amount that was being charged. The decision, of extraordinary character, affected 90 distributors
of electric power of the country. Copel&rsquo;s retail tariff was reduced by an average of 11.8% during April 2017, and in May
2017, the tariff was close to its previous value, retaining an average discount of 1.27% until June 2017. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2017, ANEEL approved the annual
revision of our Retail Tariffs, increasing them by an average of 3.13%, of which 3.86% related to the tariff increase and (0.73)%
related to the inclusion of financial components. After the removal of the financial components of the previous tariff process,
the average effect of this tariff adjustment on our Customers was an increase of 5.85%.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2018, ANEEL approved the annual
revision of our Retail Tariffs, increasing them by an average of 14.32%, of which 7.80% related to the tariff increase and 6.52%
related to the inclusion of financial components. After the removal of the financial components of the previous tariff process,
the average effect of this tariff adjustment on our Customers was an increase of 15.99%.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2019, ANEEL approved the annual
readjustment of our Tariffs, increasing them on average by 8.57%, with -1.96% related to the variation in economic revenue and
10.54% related to the inclusion of financial components. After removing the financial components from the previous tariff process,
the average effect of the tariff adjustment on our consumers was an increase by 3.41%.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Purchase and Resale of Energy</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our
distribution business purchases energy from generation companies and resells this energy to final customers at regulated rates.
For more information, see &ldquo;Item 4. Information on the Company&mdash; Business&mdash;Generation&rdquo; and &ldquo;Item 4.
Information on the Company&mdash;Business&mdash;Purchases for the captive market&rdquo;. Our major long-term contracts or purchase
obligations are described as follows.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We purchase energy from Itaipu at prices
that are determined based on the Itaipu project&rsquo;s costs, including servicing its U.S. dollar-denominated debt. In 2019, our
electricity purchases from Itaipu amounted to R$1,316 million; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our distribution business is required
to purchase a large portion of its energy needs from the regulated market. For more information, see &ldquo;Item 4. Information
on the Company&mdash;The Brazilian Electric Power&mdash;Industry&mdash;Auctions in the Regulated Market&rdquo;.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Under current
legislation, the amount that our distribution business charges Final Customers is composed of two fees: a fee for the actual energy
consumed and a fee for the use of our distribution grid. Since the regulated rates at which our distribution business sells energy
to final customers are substantially the same as the rates at which it purchases energy (after accounting for deductions and the
cost of energy purchased for resale), our distribution business does not generate operating profit from the sale of electricity
to final customers. Rather, our distribution business generates operating profit principally by collecting tariffs for the use
of our distribution grid.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Impact of the CRC Account</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">One of our
most significant assets consists of the obligations of the State of Paran&aacute; under an agreement that was last amended in October
2017. These obligations derive from amounts we were entitled to recover</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">under a prior regulatory regime, and as
a result they are referred to as the recoverable rate deficit account or &ldquo;CRC Account&rdquo; (<I>Conta de Resultados a Compensar</I>).
The balance is adjusted for IGP-DI, plus interest at 6.65% per year, and is payable in monthly installments until April 2025. If
the State of Paran&aacute; fails to make payments on a timely basis, we may apply dividends we owe to the State of Paran&aacute;
in its capacity as our shareholder against amounts it owes us under the CRC Account agreement.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In June 2016,
as per the request of the Paran&aacute; State Government, our Board of Directors approved an amendment to the CRC Agreement, contingent
upon the approval of the Brazilian Department of Treasury, comprising: (i) a grace period from April 2016 to December 2016, in
which no principal and interest amounts were paid under the CRC Agreement; and (ii) a grace period from January 2017 to December
2017, in which amounts corresponding exclusively to the interest were paid monthly, but no principal amounts were paid. All other
provisions of the CRC Agreement were maintained as they were, including the maintenance of the current correction and interest
rates, thus not affecting the global net present value of such agreement.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
Company and the State of Paran&aacute; formalized the above-mentioned amendment on October 31, 2017, after the consent from the
Brazilian Department of Treasury. <FONT STYLE="line-height: 106%">The State of Paran&aacute; complied with the agreed terms of
such amendment and made monthly interest payments until December 2018. </FONT>As of December 31, 2019, the outstanding balance
of the CRC Account was R$1,350.7 million.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">As
of January 1, 2020, there were 64 monthly installments left. For additional information, see Note 8 to our audited consolidated
financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Special Obligations</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The contributions
received from the federal government and our customers exclusively for investment in our generation assets, transmission and distribution
grid are named as special obligations. We record the amount of these contributions on our statement of financial position as a
reduction of our intangible and financial assets, under the caption &ldquo;special obligations&rdquo;, and, upon the conclusion
or termination of the operating concession granted to us, the amount of these contributions is offset against intangible and financial
assets. The amount we recorded as special obligations as of December 31, 2019 was R$2,783.6 million as a reduction of intangible
assets and R$31.1 million as a reduction of contract assets.</P>

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><BR STYLE="clear: both">
</B></FONT></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_021"></A>CRITICAL ACCOUNTING POLICIES</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In preparing
our financial statements, we make estimates concerning a variety of matters as referred to in Note 3.4 to our audited consolidated
financial statements. Some of these matters are highly uncertain, and our estimates involve judgments we make based on the information
available to us. We have discussed in &ldquo;Overview&rdquo; above certain accounting policies relating to regulatory matters.
In the discussion below, we have identified several other matters for which our financial information would be materially affected
if either (i) we reasonably used different estimates or (ii) in the future we change our estimates in response to changes that
are reasonably likely to occur.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The discussion
below addresses only those estimates that we consider most important based on the degree of uncertainty and the likelihood of a
material impact if we used a different estimate. There are many other areas in which we use estimates about uncertain matters,
but the reasonably likely effect of changed or different estimates is not material to our financial presentation. Please see Note
3.4 to our audited consolidated financial statements included herein for a more detailed discussion of the application of these
and other accounting policies.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Property, Plant and Equipment</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have adopted
the deemed cost methodology to determine the fair value of Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o&rsquo;s property, plant
and equipment, specifically for the generation business as of the date of transition of our financial statements to IFRS (January
1, 2009). These assets are depreciated according to the linear method based on annual rates set forth and reviewed periodically
by ANEEL, which are used and accepted by the market as representative of the economic useful life of the assets related to concession&rsquo;s
infrastructure, limited to the term of said concession, when applicable. The estimated useful life, the residual amounts, and depreciation
are reviewed as of each reporting date, and the effect of any changes in estimates is recorded prospectively.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Accounting for Concession
Arrangements</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We account
for our concession contracts segregated in: Financial Assets (Accounts receivable - concession), Contract Assets and Intangible
Assets, as presented below:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"><I>Concession of electric power distribution</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The portion
that we recognize as a financial asset refers to the indemnification provided for in the concession agreement for public electricity
distribution services that guarantees the unconditional right to receive cash at the end of the concession, to be paid by the granting
authority. This indemnification aims to reimburse the Company for investments made in infrastructure, without recovery, through
the tariff. We calculate the cash flows linked to these assets considering the value of the tariff base called the Regulatory Remuneration
Base - BRR, defined by the granting authority, using the methodology of replacement cost of the assets that are part of the distribution
infrastructure linked to the concession.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The portion
that we recognize as contract asset represents the contractual right of the concessionaire related to the works under construction
to meet the needs of the distribution concession, accounted for at cost plus financial charges, when applicable. When these assets
are put into operation, we transfer to the intangible asset the amount equivalent to what will be remunerated by the user through
payment of the fee for the use of the services, and for the receivables linked to the concession, the amount equivalent to the
residual portion of the assets not amortized which will be reverted to the granting authority through indemnification at the end
of the concession.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The portion
that we recognize as an intangible asset comprises the right to exploit the infrastructure, built or acquired under the concession
regime for the public electric power service, and to charge users for the public service rendered. We record at acquisition cost,
including borrowing costs, less accumulated amortization and impairment losses, when applicable. The amortization of this intangible
asset reflects the pattern in which</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">we expect the future economic benefits
of the asset to be consumed, with amortization expected during the concession term.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"><I>Concession of electric power transmission</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The portion
that we recognize as a financial asset refers to the right to indemnification of Concession Agreement No. 060/2001 arising from
the Annual Revenue Allowed - RAP not received in the period from January 2013 to June 2017 for the assets of the Basic Network
of the Existing System - RBSE. On the balance, we recorded monetary restatement and interest.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The portion
that we recognize as a contract asset represents the balance of the public electricity transmission service contracts signed with
the granting authority to build, operate and maintain the high voltage lines and substations of the generation centers up to the
distribution points. During the term of the agreement, we receive, subject to performance, a remuneration denominated Annual Revenue
Allowance (RAP) that amortizes the investments made in the construction of the infrastructure and covers the costs of operation
and maintenance incurred. After the start of the commercial operation and to the extent that the operation and maintenance service
is provided, we recognize this revenue on a monthly basis in the result and invoice together with the part of the revenue recognized
in the construction phase related to the remuneration of the constructed assets. The assets arising from the construction of the
transmission infrastructure are formed by the recognition of the construction revenue and its financial remuneration. Upon expiration
of the concession, if there is a remaining balance not yet received related to the construction of the infrastructure, it will
be received directly from the granting authority, as provided in the concession agreement, as compensation for the investments
made and not recovered through RAP.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have not
recognized intangible assets for energy transmission concession contracts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"><I>Concession of electric power generation</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We recognize
as a financial asset the concession agreement for quota generation that provides for the payment of a bonus for the grant, considering
that this bonus represents an unconditional right to receive cash, guaranteed by the granting authority during the term of the
concession and without risk of demand. The remuneration of this financial asset is based on the weighted average cost of capital
(WACC).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We also recognize
as financial assets the electricity generation concession contracts that contain clauses for indemnification of the infrastructure
not depreciated, amortized and / or received during the term of the concession. At the end of each reporting period, we evaluate
the recoverability of the asset, remeasuring its cash flow based on our best estimate.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In intangible
assets, we record the onerous concession contract for the generation of electric energy, which corresponds to the acquisition of
the right to exploit the hydroelectric power generation potential whose contract provides for payments to the Federal Government
as Use of Public Property - UBP. During the construction of the project, we recognize the amount at the present value of the future
cash outflows during the period of validity of the concession agreement. On the date of commencement of the commercial operation
of the enterprise, the amount presented is fixed and amortized during the concession period.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We also recognize
as an intangible asset the asset constituted by the Generation Scaling Factor (GSF), derived from the excess amount between the
amount recovered from the cost and the MRE (GSF) adjustment factor, subtracted from the total cost of the risk premium to be amortized
over the period of energy supply in the regulated environment. The amount was transformed by ANEEL into an extension of the grant
period, which we amortized on a straight-line basis as from January 1, 2016 until the end of the new concession term.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We did not
recognize a contract asset for the power generation concession contracts</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in"><I>Distribution of piped gas</I></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The portion
that we recognize as a financial asset is the one that will be indemnified by the granting authority corresponding to the investments
made in the ten years prior to the end of the concession provided for in the agreement and which, in Management's opinion, guarantees
the unconditional right to receive cash at the end of the concession. We use the indemnification premise based on the replacement
cost of the concession assets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The portion
that we recognize as a contract asset comprises the works in progress for the distribution of piped gas which will be transferred
to the intangible asset upon its entry into operation and to the extent that the right (authorization) to receive the users is
received.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The portion
that we recognize as an intangible asset corresponds to the users' right to charge for the gas supply. We initially valued this
asset at acquisition cost, including interest and other capitalized financial charges. We apply the linear depreciation method
based on the estimated useful life of each asset, considering the standard of economic benefit generated by the intangible assets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify; text-indent: 0.6in">In addition to
our financial assets, contract assets and intangible assets, under IFRS we also recognize construction revenues and construction
costs for construction activities we perform in connection with our distribution and transmission concessions. Our distribution
business outsources power distribution infrastructure construction. As a result, under IFRS we recognize construction costs and
revenues in roughly the same amounts. In contrast, since our transmission business performs much of our transmission infrastructure
construction, we recognize construction revenue in amounts that exceed construction costs. The resulting margin for our transmission
business&rsquo; construction revenue was 1.65% in 2019, and is calculated based on a methodology that takes into account business
risk.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 43.1pt">The determination
of the amortization term of our intangible assets and the fair value of our financial assets in connection with our concession
contracts is subject to assumptions and estimates, and the use of different assumptions could affect the amounts we recognize.
The estimated useful lives of the underlying assets, as well as the rate of return of the financial assets also require significant
assumptions and estimates. Different assumptions and estimates and changes in future circumstances could have a significant impact
on our results of operations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 43.1pt">Additional
information on the accounting for intangible, contract and financial assets arising from concession agreements is contained in
Notes 4.4, 4.5 and 4.9 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Revenue Recognition</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 43.1pt">Revenue
from contracts with customers is measured based on the consideration that the Company expects to receive in a contract with the
customer, net of any variable consideration. The Company recognizes revenues when it transfers control of the product or service
to the customer and when it is probable to receive the consideration considering the client's ability and intention to pay the
consideration when due. The Company records unbilled revenue, by estimate, when there is no information on the effective revenue
incurred.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 43.1pt">Interest
income is recognized on a straight-line basis and based on time and the effective interest rate on outstanding principal amounts,
when it is probable that future economic benefits will flow to the Company and its amount can be reliably measured.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 43.1pt">Revenue
related to construction services for infrastructure in the power transmission and distribution services, and gas distribution,
are recognized using the percentage of completion method at each reporting period and measured on the basis of the proportion of
costs incurred in relation to the total estimated costs of the contracts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 0.5in">Additional
information is contained in Notes 4.12 and 4.13 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Net Sectorial Financial Assets
and Liabilities</I></B></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">Until
2009, the Brazilian accounting standards allowed distribution concessionaires to book the difference, if any, between the amounts
that concessionaires were entitled to collect under their respective concession contracts and the amounts they actually collected,
which are referred to as sectorial assets and liabilities. The positive or negative variations in these amounts were included in
the tariffs in the following annual tariff adjustment. With the adoption of IFRS in 2010, these assets and liabilities were no
longer recorded in the financial statements of distribution concessionaires.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.85pt; margin-right: 0; margin-left: 0">As
a result of an amendment to our distribution concession agreement executed on December 10, 2014, we recognized on December 31,
2019, a financial asset of R$474.0 (R$678.8 million in 2018) and a financial liability in the amount of R$102.3 million (R$96.5
million in 2018). This amendment added a guarantee that, if the concession is extinguished for any reason, the residual amounts
of items of Parcel A costs and other financial components that have not been recovered or returned via tariff shall be incorporated
in the calculation of the indemnification amount by the granting authority. For more information, see Note 9 to the audited consolidated
financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Impairment of Long-Lived
Assets</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Long-lived
assets, primarily property, plants and equipment and intangible assets, comprise a significant amount of our total assets. We evaluate
our long-lived assets and make judgments and estimates concerning the carrying value of these assets, including the amounts to
be capitalized, the depreciation/ amortization rates and useful lives of these long-lived assets. The carrying values of these
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable.
An impairment loss is recorded in the period in which it is determined that the carrying amount is not recoverable. This requires
us to make long-term forecasts of future revenues and costs related to the assets subject to review. These forecasts require assumptions
about the demand for our products and services, future market conditions and regulatory developments. Significant and unanticipated
changes to these assumptions could require a provision for impairment in a future period. Our evaluation as of December 31, 2019,
resulted in an impairment of our in service and in progress property, plant and equipment in the amounts of R$1,042.5 million and
R$127.6 million, respectively (see Notes 17.1 of our consolidated financial statements).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Provision for Risks (Labor, Civil, Tax and Environmental
Claims)</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our subsidiaries
and we are party to certain legal proceedings in Brazil arising in the normal course of business regarding tax, labor, civil and
environmental claims.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Provisions
are recognized when, and only when: (i) the Company has a present obligation (legal or constructive) resulting from a past event,
(ii) it is probable (i.e., more likely than not) that an outflow of resources embodying economic benefits will be required to settle
the obligation, and (iii) a reliable estimate can be made of the amount to settle the obligation. By their nature, risks will only
be resolved when a future event or events occur or fail to occur. Typically such events will occur a number of years in the future.
The evaluation of these risks is performed by our internal and external legal counsel. Accounting for risks requires significant
judgment by management concerning the estimated probabilities, including classification as probable or possible losses and ranges
of exposure to potential liability. Management&rsquo;s assessment of our exposure to risks could change as new developments occur
or more information becomes available. The outcome of the risks could vary significantly and could materially impact our consolidated
results of operations, cash flows and financial position. The provision classified as probable losses, as of December 31, 2019
amounted to R$1,606.7 million, of which R$175.8 million was related to tax proceedings, R$591.8 million was related to civil claims,
R$673.1 million was related to labor claims, R$86.2 million was related to employee benefits and R$79.8 million was related to
regulatory proceedings.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of December
31, 2019, we estimate that the total amount of claims against us, excluding disputes involving non-monetary claims or claims that
cannot be evaluated in the current stage of proceedings, classified as possible losses, was approximately R$3,485.1 million, of
which R$419.9 million correspond to labor claims; R$21.3 million to employee benefits; R$1,141,4 million to regulatory claims;
R$1,273.9 million to civil claims; and R$628.6 million to tax claims. For more information, see Note 29 to our audited consolidated
financial statements.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Employee Retirement and Health
Benefits</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We sponsor
a (i) defined-benefit pension plan and a (ii) variable contribution pension plan covering substantially all of our employees. We
have also established a health care plan for current and retired employees. We determine our obligations for these plans based
on calculations performed by independent actuaries using assumptions that we provide about interest rates, investment returns,
rates of inflation, mortality rates and future employment levels (see the assumptions in Note 23.5.1 and the sensitivity analysis
in Note 23.5.8 of our consolidated financial statements). These assumptions directly affect our post-employment benefits liability.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In 2019, we
recorded expenses in the amount of R$238.3 million for our pension and health care plans. We estimate that we will incur expenses
in the amount of R$94.3 million in 2020 for our health care plans (according to actuarial calculations).</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Deferred Taxes</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We recognize
deferred tax assets and liabilities based on the differences between the financial statement carrying amounts and the tax basis
of assets and liabilities using prevailing rates. We regularly review our deferred tax assets for recoverability based on historical
taxable income, projected future taxable income, and the expected timing of the reversals of existing temporary differences. If
we are unable to generate sufficient future taxable income, or if there is a material change in the actual effective tax rates
or time period within which the underlying temporary differences become taxable or deductible, we could be required to derecognize
all or a significant portion of our deferred tax assets resulting in a substantial increase in our effective tax rate and a material
adverse impact on our operating results. The taxes balances subject to the federal taxing department inspection are those constituted
over the last five years. As of December 31, 2019, we have recognized deferred tax assets totaling R$2,069.0 million and deferred
tax liabilities in the amount of R$1,350.8 million. We have not considered any reduction for risk of recovery of such assets (see
Note 13.1.2 to the consolidated financial statements).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Expected credit losses</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">We
recorded the expected credit losses in amounts deemed sufficient to cover potential losses on the realization of customer receivables
and others whose recovery is considered unlikely. We account for the balance of expected credit losses based on the credit risk
analysis, taking into account specific payment history criteria, recovery actions for credit recovery and the relevance of the
amount due in the receivables portfolio. As of December 31, 2019, we recorded expected credit losses in the amount of R$376.8 million
(see Note 7.3 to our consolidated financial statements for further details including provisions and reversals).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Derivative Financial Instruments</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">We
negotiate energy purchase and sale operations and part of our contracts are classified as derivative financial instruments measured
at fair value through profit or loss. We recognize in the income for the period unrealized net gains or losses arising from the
mark-to-market of these contracts, based on the difference between contracted and market prices.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 36.7pt">In addition, we enter into Non-Deliverable
Forward (&ldquo;NDF&rdquo;) contracts, which aim exclusively at providing hedge against exchange rate risks associated with cash
flows from capital contributions to subsidiaries, when they reflect foreign-currency denominated purchases of projected equipment.
They are measured at their fair value, with changes recorded in the statement of income for the year. The fair value is calculated
based on the information of each contracted operation and the respective market information on the closing dates of the financial
statements.<BR STYLE="clear: both">
</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_022"></A><B>ANALYSIS OF ELECTRICITY SALES
AND COST OF ELECTRICITY PURCHASED</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table
sets forth the volume and average rate components of electricity sales and purchases for the years ended December 31, 2019, 2018
and 2017:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year
        ended December 31,</B></P></TD></TR>
<TR>
    <TD STYLE="width: 54%; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Electricity Sales</B></FONT></TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Sales to Final Customers</I></FONT></TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 4.4pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Average price (R$/MWh):<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Industrial customers<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">284.03</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">292.71</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">307.24</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Residential customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">789.75</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">745.77</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">670.21</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Commercial customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">743.25</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">711.64</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">657.14</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Rural customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">465.30</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">408.71</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">377.97</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other customers<SUP>(3)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">582.91</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">551.84</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">499.25</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">All customers<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">561.27</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">537.51</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">508.83</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Volume (GWh):</I></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Industrial customers<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9,000</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,641</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,689</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Residential customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,499</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,238</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,126</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Commercial customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,238</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,979</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,847</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Rural customers&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,361</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,288</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,257</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other customers<SUP>(3)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,546</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,481</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,455</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">All customers<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">26,644</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">25,627</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">24,374</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Total revenues from sales to final customers (millions of R$)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">14,954</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13,775</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12,402</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Sales to distributors</I><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Average price (R$/MWh)<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">213,57</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">241,62</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">204,48</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Volume (GWh) <SUP>(5)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">15,456</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12,979</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">17,263</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Total revenues (millions of R$)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,301</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,136</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,530</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Electricity Purchases</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Purchases from Itaipu</I></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Average cost (R$/MWh)<SUP>(6)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">237.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">222.18</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">188.41</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Volume (GWh)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,533</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,726</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,934</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Percentage of total Itaipu production purchased&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.7</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.1</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.2</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Total cost (millions of R$)<SUP>(7)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,316.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,272.2</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,118.0</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Purchases from Angra</I></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Average cost (R$/MWh)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">253,58</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">248.07</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">226.49</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Volume (GWh)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0,978</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,009</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,023</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Total cost (millions of R$)<SUP>(7)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">248.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">250.3</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">231.7</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Purchases from CCGF</I></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Average cost (R$/MWh)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">102.28</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">90.92</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">61.55</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Volume (GWh)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,274</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,520</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,271</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Total cost (millions of R$)<SUP>(7)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">641.7</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">592.8</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">447.5</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><I>Purchases from others</I><SUP>(4)</SUP></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Average cost (R$/MWh)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">185.27</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">237.41</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">342.37</FONT></TD></TR>
<TR>
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Volume (GWh)&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">21,045</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">17,884</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12,758</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.25pt; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Total cost (millions of R$)<SUP>(7)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,899</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.05pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,246</FONT></TD>
    <TD STYLE="padding-right: 11.2pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,368</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Average prices or costs have been computed by dividing (i) the corresponding revenues or expenses by (ii) MWh of electricity sold
or purchased.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">Includes Free Customers outside Paran&aacute;.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">Includes public services such as street lighting, as well as the supply of electricity to government agencies, and our own consumption.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(4)</SUP></TD>
    <TD STYLE="text-align: justify">Energy traded between Copel&rsquo;s subsidiaries not included.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(5)</SUP></TD>
    <TD STYLE="text-align: justify">Energy Reallocation Mechanism not included.</TD></TR>
</TABLE>



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    <TD STYLE="text-align: justify; width: 3%"><SUP>(6)</SUP></TD>
    <TD STYLE="text-align: justify">Our purchases of electricity generated by Itaipu are stated in <I>reais</I>&nbsp;and paid for on the basis of a capacity charge
expressed in U.S. dollars per kW plus a &ldquo;wheeling&rdquo; (or transportation) charge expressed in <I>reais</I> per kWh.</TD></TR>
</TABLE>


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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(7)</SUP></TD>
    <TD STYLE="text-align: justify">See &ldquo;Item 4. Information on the Company&mdash;Business&mdash;Generation&rdquo; and &ldquo;Item 4. Information on the Company&mdash;Business&mdash;
Purchases for the captive market&rdquo; for an explanation of our expenses relating to electricity purchases.</TD></TR>
</TABLE>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt/106% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><B><A NAME="a_023"></A>RESULTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER
31, 2019, 2018 AND 2017</B> <FONT STYLE="font-size: 10pt; line-height: 106%"></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">The following
table summarizes our results of operations for the years ended December 31, 2019, 2018 and 2017.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our consolidated
financial statements present our operating costs of sales and services provided by function. However, in accordance with IFRS,
Note 32 of our audited consolidated financial statements presents this information according to the nature of the operating cost
or expense. For ease of understanding, the analysis below reflects the information presented by nature.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 106%; text-indent: -0.15in">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year
        ended December 31,</B></P></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 106%; text-indent: -0.15in">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 106%; text-indent: -0.15in">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(R$million)</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Operating Revenues:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity sales to Final Customers:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,481.7</FONT></TD>
    <TD STYLE="padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">10,104.0</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,689.5</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Residential&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,336.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,175.3</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,750.5</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Industrial&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,276.1</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,419.2</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,337.9</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Commercial, services and other activities&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,179.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,136.1</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,880.9</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Rural&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">631.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">572.3</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">511.1</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other classes&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,058.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,801.1</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,209.1</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity sales to distributors&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,301.3</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,136.2</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3,529.8</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Use of main distribution and transmission grid&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8,271.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,867.3</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,442.8</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Residential&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,585.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,222.6</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,025.4</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Industrial&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,280.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,110.1</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,024.4</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Commercial, services and other activities&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,713.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,407.2</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,304.3</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Rural&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">467.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">362.8</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">341.9</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other classes&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">597.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">511.5</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">469.1</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Interest income&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">413.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">319.1</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">440.6</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other distribution and transmission revenue&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,213.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">934.0</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">837.1</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Construction revenues&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,132.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,097.3</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">868.0</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Revenues from telecommunications&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">532.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">512.5</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">426.8</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Distribution of piped gas&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,003.8</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">753.2</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">622.0</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Sectorial financial assets and liabilities result &#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">25.1</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">985.3</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">767.0</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other operating revenues&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">442.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">222.3</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">171.3</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 106%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Fair value of assets from the indemnity for the concession&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">36.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">47.5</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">57.1</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 106%; text-indent: -0.15in">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>25,227.7</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>23,725.6</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>21,574.3</B></FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 8.1pt; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Cost of sales and services provided:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 17.95pt; line-height: 8.1pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 18.4pt; line-height: 8.1pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 8.1pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Electricity purchased for resale&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(6,105.3)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(6,361.2)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(6,165.5)</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Charge of main distribution and transmission grid&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,249.3)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,176.8)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(712.0)</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Personnel and management&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,325.4)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,357.8)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,343.3)</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Pension and healthcare plans&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(238.3)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(243.8)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(237.6)</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Material and supplies&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(82.2)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(81.8)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(83.1)</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Materials and supplies for power electricity&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(49.4)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(19.7)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(97.4)</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Natural gas and supplies for gas business&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(585.2)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(412.6)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(309.5)</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Third-party services&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(613.1)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(572.2)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(521.5)</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Depreciation and amortization&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,093.8)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(749.2)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(731.6)</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Accruals and provisions&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(374.8)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(306.7)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(365.5)</FONT></TD></TR>
<TR>
    <TD STYLE="width: 56%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="width: 58%; padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Construction cost&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 14%; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,091.4)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 14%; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,052.2)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 14%; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(1,003.9)</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other costs and expenses&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(352.2)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(342.7)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(414.0)</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 106%; text-indent: -0.15in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(13,160.3)</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(12,676.6)</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(11,984.9)</B></FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Equity in earnings of associates and joint ventures&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">106.8</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">135.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">101.7</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Financial results&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(488.5)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(438.1)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(748.4)</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Profit before income tax and social contribution&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,702.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,956.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,392.9</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Income tax and social contribution on profit&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(639.3)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(512.0)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">(274.7)</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Net income for the year&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,062.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,444.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,118.3</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Net income attributable to controlling shareholders&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,989.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,407.1</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,033.6</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Net income attributable to non-controlling interest&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">72.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">36.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">84.7</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other comprehensive income&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">123.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">38.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">31.3</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 0.3in; padding-left: 0.15in; line-height: 150%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Comprehensive income&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,939.7</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,405.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,086.9</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -2.55pt; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Comprehensive income attributable to controlling shareholders&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,862.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,368.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,002.4</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: -2.55pt; padding-left: 0.15in; line-height: 150%; text-indent: 3.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Comprehensive income attributable to non-controlling interest&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">77.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">37</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 15.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">84.5</FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Results of Operations for 2019
Compared with 2018</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Operating
Revenues </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
consolidated operating revenues increased by 6.3% or R$1,502.1 million in 2019 compared to 2018. This result reflected an increase
of R$377.7 million in electricity sales to Final Customers; an increase of R$35.6 million in construction revenues; an increase
of R$250.6 million in the distribution of piped gas; an increase of R$ 20.4 million in telecommunications revenues; and an increase
of R$220 million in other operating revenues; an increase of R$165.1 million in electricity sales to distributors; and an increase
of R$1,403.7 million in the use of our main transmission grid. These increases were partially offset by a reduction of R$960.2
million in sectorial financial assets and liabilities and a reduction of R$10.9 million in fair value of the indemnity for the
concession assets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Electricity
Sales to Final Customers</I>. Our revenues from electricity sales to Final Customers increased by 3.7%, or R$377.7 million, to
R$10,481.7 million in 2019 compared to R$10,104.0 million in 2018, mainly due to an increase of 3.96% of total power consumption
of our Final Customers, from 25,627 GWh in 2018 to 26,644 GWh in 2019, as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The volume of electricity sold to residential
customers increased by 3.6% in 2019 compared to 2018, while there was an increase in the number of customers by 1.9%.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The volume of electricity sold to industrial
customers, including both Captive Customers and Free Customers, increased by 3.9% in 2019 compared to 2018, mainly due to the growth
of energy consumption of industrial customers in the Free Market, partially offset by the reduction of 1.5% in the number industrial
customers in the captive market.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The volume of electricity sold to commercial
customers, including both Captive Customers and Free Customers, increased by 5.2% in 2019 compared to 2018. The number of Captive
customers increase by 1.6%, in 2019 compared to 2018.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The volume of electricity sold to rural
customers increased by 3.2% in 2019 compared to 2018. This increase is mainly due to the performance of agribusiness in the State
of Paran&aacute;.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Electricity
Sales to Distributors</I>. Our revenues from electricity sales to distributors increased by 5.3%, or R$165.1 million, to R$3,301.3
million in 2019 compared to R$3,136.2 million in 2018. This increase was mainly due to the increase in our revenues from electricity
sold in regulated contracts, which increased by 121.8%, or R$469.1 million, to R$854.2 million in 2019 compared to R$385.1 million
in 2018.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Use
of main distribution and transmission grid</I>. Our revenues from the use of main distribution and transmission grid increased
by 20.4%, or R$1,403.8 million, to R$8,271.0 million in 2019 compared to R$6,867.2 million in 2018. This increase was mainly due
the 3.3% growth in the grid market and the tariff readjustment of Copel Distribui&ccedil;&atilde;o (with an increase of 16.42%
and 11.63% in TUSD as of June 24, 2018 and June 24, 2019, respectively), and the entry into operation of new transmission assets
that increased.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Construction
revenues</I>. Our revenues construction increased by 3.2%, or R$35.6 million, to R$1,132.9 million in 2019, compared to R$1,097.3
million in 2018. This increase was mainly due to the intensification of construction efforts in 2019 with the objective of improving
our distribution and transmission infrastructure.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Fair
value of assets from the indemnity for the concession.</I> The fair value of the assets from the indemnity for the concession decreased
by 22.9%, or R$10.9 million, to R$36.6 million in 2019, compared to R$47.5 million in 2018. The decrease was mainly due to lower
variation in the distribution concession agreement&rsquo;s assets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Revenues
from Telecommunications</I>. Revenues from our telecommunications segment increased by 4.0%, or R$20.4 million, to R$532.9 million
in 2019 compared to R$512.5 million in 2018, as a result of an increase in the number of customers in the retail market, notably
in the internet broadband segment</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Distribution
of Piped Gas.</I> Revenues from the distribution of piped gas increased by 33.2%, or R$250.6 million, to R$1,003.8 million in 2019,
compared to R$753.2 million in 2018, due to the tariff adjustment and improvement in the gas market.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Sectorial
Financial Assets and Liabilities</I>. Sectoral financial assets and liabilities decreased by 97.4%, or R$960.2 million, to R$25.1
million in 2019, compared to R$985.3 million in 2018. This variation was mainly due to the amortization of the amounts considered
in the electricity sales to final customers after the tariff adjustment in June 2018 and the lower variation of balances created
for the adjustment applied as of June 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Other
Operating Revenues</I>. Other operating revenues increased by 98.9%, or R$220 million, to R$442.4 million in 2019, compared to
R$222.4 million in 2018, mainly due to fair value in the purchases and sale of power revenues, and higher revenues from leases
and rents.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Cost
of sales and services provided</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0">Our
consolidated costs of sales and services provided increased by 3.8% or R$483.7 million, to R$13,160.3 million in 2019 compared
to R$12,676.6 million in 2018. The main factors leading to such increase in our cost of sales and services provided are as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Electricity Purchased for Resale</I>.
Our purchased energy costs for resale decreased by 4%, or R$255.9 million, to R$6,105.3 million in 2019, compared to R$6,361.2
million in 2018. This was mainly due to a decrease in the cost of &quot;electricity purchased for resale&quot;, due to the higher
GSF applicable.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Charge of Main Distribution and Transmission
Grid.</I> Expenses we incurred for our use of the main distribution and transmission grid increased 6.2%, or R$72.5 million, to
R$1,249.3 million in 2019, compared to R$1,176.8 million in 2018, mainly as a result of the increase in tariffs and charges for
transmission infrastructure made available for new generation projects from 2019, in addition to the effect of the variation in
costs related to dispatching thermal plants, with an impact on system service fees - ESS.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Personnel and Management.</I> Personnel
and administrative expenses decreased by 2.4%, or R$32.4 million, to R$1,325.4 million in 2019, compared to R$ 1,357.8 million
in 2018. Despite the increase in the provision for profit sharing (PLR) due to the improvement in the Company&rsquo;s results,
the decrease in costs reflects on employee reduction occurred in 2019.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Pension and Healthcare Plans</I>. Pension
and Healthcare expenses decreased 2.25%, or R$5.5 million, to R$238.3 million in 2019, compared to R$243.8 million in 2018, due
to the readjustment of the monthly care plans.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Material and Supplies</I>. Material
expenses increased 0.5%, or R$0.4 million, to R$82.2 million in 2019 compared to R$81.8 million in 2018.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Material and Supplies for Power Electricity</I>.
These expenses increased 150.7% or R$29.7 million, totaling R$49.4 million in 2019, compared to R$19.7 million in 2018, mainly
as a result of the completion of Arauc&aacute;ria TPP in 2019.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Natural Gas and Supplies for Gas Business</I>.
Expenses related to natural gas purchases increased 41.8%, or R$172.6 million, to R$585.2 million in 2019, compared to R$412.6
million in 2018, mainly due to growth in the market of Compag&aacute;s and exchange variation.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Third-Party Services.</I> Third-party
service expenses increased by 7.1%, or R$40.9 million, to R$613.1 million in 2019, compared to R$572.2 million in 2018, mainly
due to the higher maintenance value of the electric system, communication, data processing and transmission and advisory and auditing
services.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Depreciation and Amortization</I>.
Depreciation and amortization increased by 46%, or R$344.6 million, to R$1,093.8 million in 2019, compared to R$749.2 in 2018,
due to an increase by 81.2% in the costs with depreciation and amortization resulting from the start of commercial operation in
2019 at the Col&iacute;der, Cutia and Baixo Igua&ccedil;u plants.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Accruals and Provisions</I>. Provisions
and reversals expenses increased by 22.2%, or R$68.1 million, to R$374.8 million in 2019, compared to R$306.7 million in 2018,
mainly due to (i) increase by 17.4% related to provisions for litigations, and (ii) increase by 59.7% in expected credit losses
(or bad debt).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Construction Cost</I>. Construction
costs increased by 3.7%, or R$39.2 million, to R$1,091.4 million in 2019, compared to R$1,052.2 million in 2018, mainly reflecting
investments in transmission, distribution and Compagas assets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Other Costs and Expenses</I>. Other
costs and expenses increased 2.8%, or R$9.5 million, to R$352.2 million in 2019, compared to R$342.7 million in 2018.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Equity
earnings of associates and joint ventures </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">Equity earnings
of associates and joint ventures was R$106.8 million in 2019, a decrease of 21.4%, compared to R$135.9 million in 2018, mainly
due to a decrease in the profits of our associate entities and joint ventures.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">Namely, our
equity accounting income for 2019 was: (i) loss of R$3.4 million from Voltalia, compared to loss of R$4.0 million in 2018; (ii)
R$4.8 million from Caiu&aacute;, compared to R$5.0 million in 2018; (iii) R$11.3 million from the Integra&ccedil;&atilde;o Maranhense
compared to R$9.2 million in 2018; (iv) R$48.6 million from Matrinch&atilde; compared to R$50.4 million in 2018; (v) R$18.3 million
from Guaraciaba, compared to R$35.3 million in 2018; (vi) R$16.4 million from Parana&iacute;ba, compared to a loss of R$16.5 million
in 2018; (vii) loss of R$41.7 million from the Mata de Santa Genebra, compared to a loss of R$2.5 million in 2018; (viii) R$28.0
million from Cantareira compared to R$24.6 million in 2018; (ix) R$9.8 million from Dona Francisca compared to R$10.0 million in
2018; and (x) R$13.9 million from Foz do Chopim versus R$13.2 million from 2018.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Financial
Results</I></B></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0 8pt; text-align: justify; text-indent: 35.45pt">We recognized
an increase of financial losses of 11.5%, or R$10.4 million, to R$488.5 million in 2019. This result is due to: (i) a decrease
by 7.8% in financial revenues, mainly due to other financial income, monetary variation on CRC onlendings and the recognition of
tax credits; and, (ii) a reduction of 1.06% in financial expenses, other financial expenses.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Income
Tax and Social Contribution Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36.7pt">In 2019, our income tax
and social contribution expenses increased to R$639.3 million, reflecting an effective tax rate of 23.7% in our pretax income,
compared to R$512.0 million and an effective tax rate of 26.2% in our pretax profit in 2018. The decrease in our effective tax
rate was mainly due to (i) our enrollment in a special tax benefit program of the Brazilian Federal Tax Authority (Programa Especial
de Regulariza&ccedil;&atilde;o Tribut&aacute;ria &ndash; PERT da Secretaria da Receita Federal). For more information on this special
tax benefit program, see Note 13.2.2 to our Consolidated Financial Statements; and (ii) an increase of R$123.9 million in paid
Capital in 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Results of Operations for 2018
Compared with 2017</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Operating
Revenues </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
consolidated operating revenues increased by 10.0% or R$2,151.3.2 million in 2018 compared to 2017. This result reflected an increase
of R$1,414.5 million in electricity sales to Final Customers; an increase of R$229.3 million in construction revenues; an increase
of R$218.3 million in sectorial financial assets and liabilities; an increase of R$131.2 million in the distribution of piped gas;
an increase of R$85.7 million in telecommunications revenues; an increase of R$424.4 million in the use of our main transmission
grid; and an increase of R$51 million in other operating revenues. These increases were partially offset by a reduction of R$393.6
million in electricity sales to distributors; and a reduction of R$9.6 million in fair value of the Indemnifiable Concession Assets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Electricity
Sales to Final Customers</I>. Our revenues from electricity sales to Final Customers increased by 16.3%, or R$1,414.5 million,
to R$10,104.0 million in 2018 compared to R$8,689.5 million in 2017, mainly due to an increase of 5.1% of total power consumption
of our Final Customers, from 24,374 GWh in 2017 to 25,627 GWh in 2018, and the average readjustment of 15.99% in June 2018 in tariffs
paid by consumers in the captive market, as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The volume of electricity sold to residential
customers increased by 1.6% in 2018 compared to 2017. While there was an increase in the number of customers by 2.0%, the average
consumption remained stable in 2018 compared to 2017.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The volume of electricity sold to industrial
customers, including both Captive Customers and Free Customers, increased by 12.4% in 2018 compared to 2017, mainly due to the
growth of Copel's commercial customers in the Free Market, partially offset by the reduction of industrial customers in the captive
market. The number of industrial customers decreased by 4.1% and average consumption grew by 17.2% in 2018 compared to 2017.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The volume of electricity sold to commercial
customers, including both Captive Customers and Free Customers, increased by 2.7% in 2018 compared to 2017. Despite the increase
in number of customers by 2.7%, the average consumption remained practically stable in 2018 compared to 2017.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The volume of electricity sold to rural
customers increased by 1.4% in 2018 compared to 2017. This increase is mainly due to the performance of agribusiness in the State
of Paran&aacute; and an increase of 2.2% in the average consumption.</FONT></TD></TR></TABLE>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Electricity
Sales to Distributors</I>. Our revenues from electricity sales to distributors revenues decreased by 11.1%, or R$393.6 million,
to R$3,136.2 million in 2018 compared to R$3,529.8 million in 2017. This reduction was mainly due to the decrease in our revenues
from electricity sold in the Spot Market (CCEE), which decreased by 38.1%, or R$387.0 million, to R$628.1 million in 2018 compared
to R$1,015.1 million in 2017. This reduction in CCEE's revenues is a result of (i) the non-activation of the Arauc&aacute;ria Thermoelectric
Plant; and (ii) lower prices in the Spot Market.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Use
of main distribution and transmission grid</I>. Our revenues from the use of main distribution and transmission grid increased
by 6.6%, or R$424.4 million, to R$6,867.2 million in 2018 compared to R$6,442.8 million in 2017. This decrease was mainly due to
the remeasurement of assets related to tRBSE, which registered a revenue of R$82.6 million in 2018 compared to R$361.2 million
in 2017, as disclosed in Note 10.5 of our consolidated audited financial statements. This decrease in our revenues from the use
of main distribution and transmission grid was partially offset by the 1.9% growth in Copel Distribui&ccedil;&atilde;o's grid market.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Construction
revenues</I>. Our revenues construction increased by 26.4%, or R$229.3 million, to R$1,097.3 million in 2018, compared to R$868.0
million in 2017. This increase was mainly due to the intensification of construction efforts in 2018 with the objective of improving
our distribution and transmission infrastructure.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Fair
value of assets from the indemnity for the concession.</I> The fair value of the assets from the indemnity for the concession decreased
by 16.8%, or R$9.6 million, to R$47.5 million in 2018, compared to R$57.1 million in 2017. The decrease was mainly due to lower
variation in the distribution concession agreement&rsquo;s assets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Revenues
from Telecommunications</I>. Revenues from our telecommunications segment increased by 20.1%, or R$85.7 million, to R$512.5 million
in 2018 compared to R$426.8 million in 2017, as a result of an increase in the number of customers in the retail market, notably
in the internet broadband segment</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Distribution
of Piped Gas.</I> Revenues from the distribution of piped gas increased by 21.1%, or R$131.2 million, to R$753.2 million in 2018,
compared to R$622.0 million in 2017, due to the tariff adjustment and improvement of 2.9% in the gas market.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Sectorial
Financial Assets and Liabilities</I>. Sectoral financial assets and liabilities increased by 28.4%, or R$218.3 million, to R$985.3
million in 2018, compared to R$767.0 million in 2017. This variation was mainly due to the recognition of receivables resulting
from the positive difference between the average price of electricity purchased from Itaipu, Angra, CCGF and the Availability Contracts
and the average price of the hedging rate. In relation to Itaipu's electricity, the higher cost is due to the exchange variation,
while in relation to other contracts the higher cost originates from the hydrological scenario (variations in GSF and PLD). For
more information on this variation, see Note 9.2 to our consolidated audited financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0"><I>Other
Operating Revenues</I>. Other operating revenues increased by 29.7%, or R$51.0 million, to R$222.4 million in 2018, compared to
R$171.4 million in 2017, mainly due to revenues from services rendered of the engineering contract of owner of the HPP Baixo Igua&ccedil;u,
and higher revenues from leases and rents.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Cost
of sales and services provided</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 35.45pt; margin-right: 0; margin-left: 0">Our
consolidated costs of sales and services provided increased by 5.8% or R$691.7 million, to R$12,676.6 million in 2018 compared
to R$11,984.9 million in 2017. The main factors leading to such increase in our cost of sales and services provided are as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Electricity Purchased for Resale</I>.
Our purchased energy costs for resale increased by 3.2%, or R$195.8 million, to R$6,361.2 million in 2018, compared to R$6,165.4
million in 2017. This increase was mainly due to: (i) an increase by 21.1% in the cost of electricity purchased through bilateral
contracts, explained in particular by the higher volume of electricity purchased by Copel Comercializa&ccedil;&atilde;o (4,101
GWh in 2018 compared to 2,644 GWh in 2017), and (ii) an increase by 13.8% in the costs of purchasing electricity from Itaipu, due
to the exchange variation.</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Charge of Main Distribution and Transmission
Grid.</I> Expenses we incurred for our use of the main distribution and transmission grid increased 65.3%, or R$464.8 million,
to R$1,176.8 million in 2018, compared to R$712.0 million in 2017, mainly as a result of (i) the adjustment in TUST in June 2018
and June 2017 (when the indemnity related to RBSE assets began to incorporate Permitted Annual Revenue - APR, and in 2018 the impact
was on the whole year), and (ii) cost of System Services Charges (ESS), reflecting the greater amount of resources received from
the reserve electric energy (Coner) in 2017, due to the effects of the indemnities to the transmission of energy.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Personnel and Management.</I> Personnel
and administrative expenses increased by 1.1%, or R$14.5 million, to R$1,357.8 million in 2018, compared to R$1,343.3 million in
2017, as a result of (i) salary readjustment of 3.97% as of October 2018 and 1.63% as of October 2017, (ii) provision for indemnification
for retirement incentive program (PDI), and (iii) an increase of R$22.7 million in the amount allocated to Profit Sharing - PLR,
partially offset by a reduction in the number of employees.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Pension and Healthcare Plans</I>. Pension
and Healthcare expenses increased 2.6%, or R$6.2 million, to R$243.8 million in 2018, compared to R$237.6 million in 2017, due
to the readjustment of the monthly care plans.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Material and Supplies</I>. Material
expenses decreased 1.6%, or R$1.3 million, to R$81.8 million in 2018 compared to R$83.1 million in 2017.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Material and Supplies for Power Electricity</I>.
These expenses decreased 79.8% or R$77.7 million, totaling R$19.7 million in 2018, compared to R$97.4 million in 2017, mainly as
a result of the activation of Arauc&aacute;ria TPP in 2017, and the corresponding increase in purchases of natural gas, while in
2018 the plant was not activated.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Natural Gas and Supplies for Gas Business</I>.
Expenses related to natural gas purchases increased 33.3%, or R$103.1 million, to R$412.6 million in 2018, compared to R$309.5
million in 2017, mainly due to growth in the market of Compagas and exchange variation.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Third-Party Services.</I> Third-party
service expenses increased by 9.7%, or R$50.7 million, to R$572.2 million in 2018, compared to R$521.5 million in 2017, mainly
due to the higher maintenance value of the electric system, communication, data processing and transmission and advisory services
and auditing services.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Depreciation and Amortization</I>.
Depreciation and amortization increased by 2.4%, or R$17.6 million, to R$749.2 million in 2018, compared to R$731.6 in 2017, mainly
due to an increase in our non-current assets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Accruals and Provisions</I>. Provisions
and reversals expenses decreased by 16.1%, or R$58.8 million, to R$306.7 million in 2018, compared to R$365.5 million in 2017,
due in particular to the reversal of the provision for R$92.7 million related to an indemnification action against third parties.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Construction Cost</I>. Construction
costs increased by 4.8%, or R$48.3 million, to R$1,052.2 million in 2018, compared to R$1,003.9 million in 2017, mainly reflecting
investments in transmission, distribution and Compagas assets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 28.35pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Other Costs and Expenses</I>. Other
costs and expenses decreased 17.2%, or R$71.3 million, to R$342.7 million in 2018, compared to R$414.0 million in 2017. This reduction
is mainly due to reimbursement from suppliers of
wind farm assets of the Brisa Potiguar Complex in the amount of R$72.1 million.</FONT></TD></TR></TABLE>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Equity
earnings of associates and joint ventures </I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">Equity earnings
of associates and joint ventures was R$135.9 million in 2018, an increase of 33.5%, compared to R$101.8 million in 2017, mainly
due to a growth in the profits of our associate entities and joint ventures.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">Namely, our
equity accounting income for 2018 was: (i) loss of R$4.0 million from Voltalia, compared to loss of R$0.6 million in 2017; (ii)
R$3.0 million from Costa Oeste, compared to loss of R$2.6 million in 2017; (iii) R$7.0 million from Marumbi compared to loss of
R$9.5 million in 2017; (iv) R$1.2 million from Transmissora Sul Brasileira, compared to loss of R$5.0 million in 2017; (v) R$5.0
million from Caiu&aacute;, compared to loss of R$4.0 million in 2017; (vi) R$9.2 million from the Integra&ccedil;&atilde;o Maranhense
compared to loss of R$8.9 million in 2017; (vii) R$50.4 million from Matrinch&atilde; compared to R$57.4 million in 2017; (viii)
R$35.3 million from Guaraciaba, compared to R$25.4 million in 2017; (ix) loss of R$16.5 million from Parana&iacute;ba, compared
to R$17.0 million in 2017; (x) loss of R$2.5 million from the Mata de Santa Genebra, compared to R$19.5 million in 2017; (xi) R$24.6
million from Cantareira compared to R$3.9 million in 2017; (xii) R$10.0 million from Dona Francisca compared to R$8.9 million in
2017; and (xiii) R$13.2 million from Foz do Chopim versus R$6.6 million from 2017.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Financial
Results</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0 8pt; text-align: justify; text-indent: 35.45pt">We recognized
a reduction of financial losses of 41.5%, or R$310.3 million, to R$438.1 million of net financial losses in 2018, compared to a
net financial loss of R$748.4 million in 2017. This result is due to: (i) an increase by 16.4% in financial revenues, mainly due
to the increase in interest and monetary variation on CRC onlendings and the recognition of tax credits, and (ii) a reduction of
13.5% in financial expenses, due to lower monetary, exchange rate and debt charges, mainly influenced by the reduction of the SELIC
rate.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><B><I>Income
Tax and Social Contribution Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36.7pt">In 2018, our income tax
and social contribution expenses increased to R$512.0 million, reflecting an effective tax rate of 26.2% in our pretax income,
compared to R$274.7 million and an effective 19.7% in our pretax profit in 2017. The increase in our effective tax rate in 2018
compared to 2017 was primarily due to our enrollment in a special tax benefit program of the Brazilian Federal Tax Authority (Programa
Especial de Regulariza&ccedil;&atilde;o Tribut&aacute;ria &ndash; PERT da Secretaria da Receita Federal). For more information
on this special tax benefit program, see Note 13.3.1 to our consolidated audited financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 36.85pt"><A NAME="a_024"></A><B>LIQUIDITY
AND CAPITAL RESOURCES</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our principal
liquidity and capital requirements are to finance the expansion and improvement of our distribution and transmission infrastructure
and to finance the expansion of our generation facilities.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">We
believe our working capital is sufficient for our present requirements and the next 12 months. However, the expectation of the
economic impacts resulting from the shutdown caused by the outbreak of the coronavirus (COVID-19), with subsequent effects on Copel's
operations, may affect Company's financial results. In December 2019, our Current Liquidity, an index ratio that measures our current
assets over our current liabilities reached 1.5x (1.0x in 2018) with a cash balance, equivalent to cash and marketable securities
of R$3,223.8 million (R$2,292.7 million in 2018).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
Company monitors its financial liquidity continuously and, for that that purpose, it considers (i) on the external side, the possibility
of raising funds and the prospect of preserving cash through the assistance of structural measures by the Federal Government and
other Sectoral Institutions, and (b) on the internal side, taking the necessary actions in our operations by reducing expenses
or postponing investments in order to guarantee the timely fulfillment of financial obligations. Accordingly, our estimates are
to preserve the working capital required for our operations throughout the period.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In addition
to working capital, our other principal uses of cash are to dividends payments and debt servicing. Capital expenditures were R$2,055.6
million in 2019 and R$2,590.8 million in 2018. The following table sets forth a breakdown of our capital expenditures for the periods
indicated. Our capital expenditures are focused on projects located in Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As in previous
years, our capital requirement will be financed by cash from our operations and/or by external financing, which may serve to offset
commitments arising from the maturity of previous external financing.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year
        ended December 31,</B></P></TD></TR>
<TR>
    <TD STYLE="width: 56%; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(R$million)</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Generation and transmission&sup1;&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">691.9</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,423.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">1,389.1</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Distribution&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">919.9</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">696.0</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">630.4</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Telecom&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">146.3</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">309.4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">241.1</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Investment of associates and joint ventures&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">267.5</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">87.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">248.2</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Arauc&aacute;ria Thermoelectric Plant&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.4</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">0.7</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Compagas&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">17.6</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">15.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">13.7</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Elejor&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.2</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2.7</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.5</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Others&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">11.8</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">53</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>2,055.6</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>2,590.8</B></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>2,524.7</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&sup1; Considers investment
in projects held 100% by Copel GeT.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">Our total budgeted
capital expenditures for our wholly-owned subsidiaries for 2020 is R$2,087.2 million, of which:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">R$792.3 million are for generation and
transmission, R$80.5 million are for the construction of the Col&iacute;der Hydroelectric Plant, and R$25.8 million are for the
construction of the Baixo Igua&ccedil;u Hydroelectric Plant;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">R$1,073.8 million are for our distribution
business; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">R$123.9 million are for our telecommunication
business; </FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">R$13.0 million for the construction of
the Cutia Wind Farm Complex; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">R$84.2 million are for other investments.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">Our
following subsidiaries also budgeted their own capital expenditures for 2019, as described as follows:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Compagas: R$27.3 million;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Arauc&aacute;ria: R$1.5 million; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Elejor: R$13.9 million.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Historically,
we have financed our liquidity and capital requirements primarily with cash provided by our operations and through external financing.
Our principal source of funds in 2019 was our operating activities. Net cash used by financing activities was R$288.0 million in
2019, compared with R$1,286.5 million in 2018. Net cash provided by operating activities was R$2,945.0 million in 2019, compared
with R$1,771.0 million in 2018. In 2020, we expect to finance our liquidity and capital requirements primarily with cash provided
by our operations and through debt financing from BNDES and the Brazilian capital markets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As in prior
years, we plan to make significant investments in future periods to expand and upgrade our generation, transmission and distribution
businesses. In addition, we may seek to invest in other existing electric utilities, in communications services or in other areas,
each of which may require additional domestic and international financing. Our ability to generate cash sufficient to meet our
planned expenditures is dependent upon a variety of factors, including our ability to maintain adequate tariff levels, to obtain
the required regulatory and environmental authorizations, to access domestic and international capital markets, and a variety of
operating and other contingencies. We anticipate that our cash provided by operations may be insufficient to meet these planned
capital expenditures, and that we may require additional financing from sources such as BNDES and the Brazilian and international
capital markets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">ANEEL&rsquo;s
regulations require prior approval from ANEEL for any transfer of funds from our subsidiaries to us in the form of loans or advances.
ANEEL approval is not required for cash dividends, as long as cash dividends do not exceed a dividend threshold (&ldquo;Dividend
Threshold&rdquo;) equal to the greater of adjusted net income or income reserves available for distribution. The Dividend Threshold
is established by Brazilian Corporate Law.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The cash dividends
we have received from our subsidiaries have been historically sufficient to meet our cash flow requirements without exceeding the
Dividend Threshold. As a result, we have not sought approval from ANEEL to receive either loans or advances from our subsidiaries
or cash dividends from our subsidiaries in excess of the Dividend Threshold. We do not expect these restrictions on loans and advances
and on cash dividends exceeding the Dividend Threshold to impact our ability to meet our cash obligations, since we expect cash
dividends below the Dividend Threshold to be sufficient in the future.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Like
other state-owned companies, we are subject to certain CMN restrictions on our ability to obtain financing from domestic and international
financial institutions. CMN restrictions could limit our ability to obtain bank financing but do not affect our ability to access
the Brazilian and international capital markets, and do not restrict our access to banking financing for the purpose of repaying
or refinancing debt.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
total outstanding loans and financing (including debentures) as of December 31, 2019 totaled R$11,572 million. Approximately R$109
million of the total debt outstanding as of December 31, 2019 was denominated in U.S. dollars. For more information on the terms
of these loans and financings, including reference to their specific maturity dates and interest rate structure, see Notes 22 and
23 to our audited consolidated financial statements. We are not subject to seasonality with respect to our borrowing requirements.
Our major loans and financing arrangements are:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Banco do Brasil:</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have R$789 million of outstanding debt
with Banco do Brasil (not including the debentures listed below), consisting of financings we contracted to increase our working
capital.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.85pt">Debentures:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In May 2015, Copel GeT issued R$1,000.0
million in simple, in five-year non-convertible debentures, with an interest rate of 113% of the CDI index per year and payment
of interest on an annual basis. As of December 31, 2019, we had an aggregate balance of R$347 million of outstanding debt under
these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In October 2015, Copel Telecom issued
R$160.0 million in simple, in nine-year non-convertible debentures. These debentures have an interest rate equal to IPCA index
+ 7.9633% per year, a five-year maturity and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate
balance of R$195.4 million of outstanding debt under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In March 2016, Nova Asa Branca I, Nova
Asa Branca II, Nova Asa Branca III, Nova Eurus IV and Ventos de Santo Uriel Wind Farms issued R$300.8 million in non-convertible
debentures, with sixteen-year maturity and payment of interest on monthly basis. The interest rate of TJLP index + 2.02% per year
is applicable to R$147.6 million and IPCA index + 9.87% per year is applicable to R$153.2 million. As of December 31, 2019, we
had an aggregate balance of R$254.8 million of outstanding debt under these debentures. As of December 31, 2019, all the conditions
agreed had been fulfilled. For more information, see Note 23.3 to our audited consolidated financial statements;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In April 2016, Compagas privately issued
R$33.6 million in simple non-convertible debentures, single series, with floating charge, with an interest rate equal to TJLP index
+ 2.17% per year, with a five-year maturity and payment of interest on a quartely basis. As of December 31, 2019, we had an aggregate
balance of R$11.8 million of outstanding debt under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In July 2017, Copel Telecom issued R$220.0
million in five-year simple, non-convertible debentures. These debentures have an interest rate equal to IPCA index + 5.4329% per
year, a five-year maturity and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding
balance of R$246.3 million under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In October 2017, Copel Distribui&ccedil;&atilde;o
issued R$500.0 million in simple, non-convertible debentures, with an interest rate of 126% of the CDI index per year, with a five
years maturity and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding balance of
R$505.8 million under these debentures; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In October 2017, Copel GeT issued R$1.0
billion in simple non-convertible debentures, with an interest rate of 126% of the CDI index per year, with a five years maturity
and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding balance of R$1,011.7 million
under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In January 2018, Copel Holding issued
R$600.0 million in simple, non-convertible debentures, with an interest rate of 119% of the CDI index per year, with a three-year
maturity and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding balance of R$617.4
million under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In July 2018, Copel GeT issued R$1.0 billion
in simple, non-convertible debentures, with an interest rate of 126% of the CDI index per year, with a five-year maturity and payment
of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding balance of R$1,030.1 million under these
debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In September 2018, Copel GeT issued R$290.0
million in simple, non-convertible debentures. These debentures have an interest rate equal to IPCA index + 7.6475% per year, with
a seven-year maturity and payment of interest
on a semester basis. As of December 31, 2019, we had an aggregate outstanding balance of R$308.5 million under these debentures;</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In September 2018, Copel Distribui&ccedil;&atilde;o
issued R$1.0 billion in simple, non-convertible debentures with an interest rate of CDI index + 2.70% per year, with a five-year
maturity and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding balance of R$1,019.6
million under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In March 2019, Cutia Empreendimentos issued
R$360.0 million in simple, non-convertible debentures. These debentures have an interest rate equal to IPCA index + 5.8813% per
year, with a thirteen-year maturity and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding
balance of R$352.9 million under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In May 2019, Copel Telecom issued R$210
million in simple, non-convertible debentures, with an interest rate of 117% of the CDI index per year, with a five-year maturity
and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding balance of R$211,3 million
under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2019, Copel Holding issued R$500
million in simple, non-convertible debentures, with an interest rate of 106% of the CDI index per year, with a three-year maturity
and payment of interest on a semester basis. As of December 31, 2019, we had an aggregate outstanding balance of R$501 million
under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In July 2019, Copel GeT issued R$1 billion
in simple, non-convertible debentures, in two series, with an interest rate of 109% of the CDI index per year and IPCA index +
3.90% with a five-years and six-years maturity and payment of interest on a semester basis. As of December 31, 2019, we had an
aggregate outstanding balance of R$1.024,1 million under these debentures;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In November 2019, Copel Distribui&ccedil;&atilde;o
issued R$850 million in simple, non-convertible debentures, in two series, with an interest rate of IPCA index + 4.20% per year
and CDI index + 1,45% per year with an eight-years and three-years maturity and payment of interest on a semester basis. As of
December 31, 2019, we had an aggregate outstanding balance of R$858,1 million under these debentures; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In December 2019, Compagas privately issued
R$43 million in simple non-convertible debentures, single series, with an interest rate equal to CDI index + 0.88% per year, with
a two-year maturity and payment of interest on a monthly basis. As of December 31, 2019, we had an aggregate balance of R$44,7
million of outstanding debt under these debentures.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 38.7pt; text-align: justify">BNDES</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In December 2013, we received approval
for the BNDES financing of HPP Col&iacute;der in an aggregate amount of R$1,041.2 million. As of December 31, 2013, we had received
R$840.1 million of this amount, with the remaining disbursements to be made in accordance with the construction schedule of HPP
Col&iacute;der. Additionally, BNDES approved the finance of the Cerquilho III transmission substation in the amount of R$17.6 million,
which was disbursed in a single installment. As of December 31, 2019, the aggregate outstanding balance of these two contracts
totaled R$828.7 million;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">BNDES has provided a loan to Copel of
R$339.0 million to finance the construction of the Mau&aacute; Hydroelectric Plant. Mau&aacute; is owned by Cons&oacute;rcio Energ&eacute;tico
Cruzeiro do Sul, in which Copel has a 51.0% interest and Eletrosul has a 49.0% interest. BNDES is providing 50.0% of the loan amount,
and Banco do Brasil S.A. is providing the remaining 50.0%. All the receivables arising from this plant were pledged in favor of
BNDES and Banco do Brasil until full repayment of the loan. As of December 31, 2019, we had an aggregate of R$191.6 million in
outstanding debt with BNDES and Banco do Brasil under this facility;</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In December 2011, we entered into a financing
contract with BNDES in the total value of R$44.7 million for the construction of Transmission Line Foz do Iguacu - Cascavel Oeste,
with maturity in 14 years. As of December 31, 2019, we had an aggregate of R$21.1 million in outstanding debt under this financing
contract; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In March 2012, we entered into a financing
contract with BNDES in the total value of R$282.1 million for the construction of GE Farol, Ge Boa Vista, GE S&atilde;o Bento do
Norte and GE Olho D&rsquo;&Aacute;gua Wind Farms with maturity in 16 years. As of December 31, 2019, we had an aggregate of R$215.5
million in outstanding debt under this financing contract; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In September 2012, we entered into a financing
contract with BNDES in the total value of R$73.1 million for the construction of SHP Cavernoso II, with maturity in 16 years. As
of December 31, 2019, we had an aggregate balance of R$46.2 million of outstanding debt under this financing contract;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In December 2014, we entered into a financing
contract with BNDES to finance the improvement of the distribution system of the greater Curitiba area, with maturity in 9.4 years.
We have obtained a R$139.1 million funding on December 2014 and as of December 31, 2019, we had an aggregate outstanding balance
of R$51.2 million under this financing contract; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In June 2015, we entered into a financing
contract with BNDES in the total value of R$124.0 million for the construction Santa Helena and Santa Maria Wind Farm, with maturity
in 16 years. As of December 31, 2019, we had an aggregate balance of R$95.1 million of outstanding debt under this financing contract;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In December 2015, we entered into a financing
contract with BNDES in the total value of R$55.8 million for the construction of Transmission Line Assis - Paragua&ccedil;u Paulista
II and Londrina - Figueira e Salto Os&oacute;rio - Foz do Chopim C2, with maturity in 15 years. As of December 31, 2019, we had
an aggregate balance of R$35.9 million of outstanding debt under this financing contract; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In October 2018, we entered into a financing
contract with BNDES in the total value of R$194.0 million for the implementing Baixo Igua&ccedil;u Hydroelectric Power Plant as
well as its associated transmission system, with maturity in 17 years. As of December 31, 2019, we had an aggregate balance of
R$196.8 million of outstanding debt under this financing contract; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In October 2018, we entered into a financing
contract with BNDES in the total value of R$619.4 million for the construction and implementing Cutia Empreendimentos E&oacute;licos
Wind Farms, with maturity in 17 years. As of December 31, 2019, we had an aggregate balance of R$611.5 million of outstanding debt
under this financing contract.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In August 2018, Copel GeT signed a share
exchange agreement with Eletrosul in the controlled ventures Costa Oeste Transmissora de Energia S.A. (51% Copel GeT and 49% Eletrosul),
Marumbi Transmissora de Energia S.A. (80% Copel GeT and 20% Eletrosul) and Transmissora Sul Brasileira de Energia S.A. (20% Copel
GeT and 80% Eletrosul). With this contract, Copel GeT starts to hold 100% interest in the Costa Oeste and Marumbi undertakings
and Eletrosul now holds 100% stake in Transmissora Sul Brasileira.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Marumbi has an agreement signed with BNDES
in 2014, in the amount of R$55 million, for the Implementation of the 525 kV Transmission Line between SE Curitiba and SE Curitiba
Leste and the implementation of SE Curitiba. It has a balance on December 31, 2019 of R$34.4 million. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Costa Oeste, has an agreement signed with
BNDES in 2013, in the amount of R$36.7 million, for the implementation of the 230 kV Transmission Line between SE Cascavel Oeste
and SE Umuarama Sul and the implementation of the SE. It has a balance on December 31, 2019 of R $22.2 million</FONT></TD></TR></TABLE>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">CAIXA ECON&Ocirc;MICA
FEDERAL (CEF)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have R$13.4 million in outstanding
debt related to government programs to finance distribution projects; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Copel Distribui&ccedil;&atilde;o entered
into an agreement in 2016, in the amount of R$1.2 million, for the purchase of machinery and/or equipment and also computer and
automation goods. It has a balance on December 31, 2019 of R$0.3 million.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 38.7pt; text-align: justify">ELETROBRAS</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have R$10.9 million in outstanding
debt with Eletrobras under government programs to finance distribution projects; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 38.7pt; text-align: justify">FINEP</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In July 2012, a loan agreement
in the amount of R$52.2 million was signed by Copel Telecomunica&ccedil;&otilde;es S.A. with FINEP to partially finance the BEL
&ndash; Extra Broadband project. As of December 31, 2019, we had an aggregate outstanding balance of R$4.8 million under this loan
agreement.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are party
to several legal proceedings that could have a material adverse impact on our liquidity if the rulings are unfavorable to us. These
contingencies are described in &ldquo;Item 8. Financial Information&mdash;Legal Proceedings&rdquo;.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_025"></A>CONTRACTUAL OBLIGATIONS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the table
below, we set forth certain of our contractual obligations as of December 31, 2019, and the period in which such contractual obligations
come due.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Georgia, Times, Serif; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Payments
        due by period</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Total</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
</DIV></TD>
    <TD STYLE="width: 97px; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Less
        than1 year</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1-3 years</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
</DIV></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>3-5 years</B></P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
</DIV></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>More
        than<BR>
        5 years</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(R$million)</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Contractual obligations:</B></FONT></TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%">&nbsp;</TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loans and financing<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,185.8</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">455.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,343.8</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">719.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,666.5</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Debentures<SUP>(2)</SUP> &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,413.5</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,501.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,967.7</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,288.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,655.3</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Suppliers<SUP>(3)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,873.2</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,732.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">128.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.6</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>-</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Purchase obligations<SUP>(4)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">130,075.9</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,390.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,101.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,411.1</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">104,172.8</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Concession payments<SUP>(5)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,799.9</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">74.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">161.9</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">174.2</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,389.3</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Eletrobras &#8210; Itaipu<SUP>(6)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,723.5</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,667.0</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,475.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,581.1</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Installment due to the Federal Revenue of Brazil<SUP>(7)</SUP> &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">623.8</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">68.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">105.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">114.3</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">335.7</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Post-employment benefits<SUP>(8)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,322.2</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">670.5</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,301.0</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,231.3</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,119.4</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sectoral Financial liabilities<SUP>(9)</SUP>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">108.4</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">108.4</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>-</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lease liability<SUP>(10)</SUP></FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">126,999.2</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">42,258.2</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">57,399.4</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">16,115.9</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,225.7</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total</B>&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">293,125.4</FONT></TD>
    <TD STYLE="vertical-align: top; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">52,819.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">79,092.5</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">33,648.7</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; font: 8pt/150% Tahoma, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">127,564.7</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">Includes interest as agreed under agreements in the amount of R$1, 016.1. For more details, see Note 21 to our audited consolidated
financial statements.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><FONT STYLE="font-size: 8pt; line-height: 107%"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt; line-height: 107%">Includes interest as agreed under relevant agreements in the amount of R$1, 647.0</FONT>.
<FONT STYLE="font-size: 8pt; line-height: 107%">For more details, see Note 22 to our audited consolidated financial statements.</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">Mainly consists of Electricity purchased from auctions on the CCEAR with balances falling due in less than 30 days and gas supplied
by Petrobras to the Arauc&aacute;ria Thermoelectric Plant.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(4)</SUP></TD>
    <TD STYLE="text-align: justify">Consists of binding power purchase commitments. Includes monetary restatements as agreed under relevant agreements.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(5)</SUP></TD>
    <TD STYLE="text-align: justify">Payments to the federal government arising from Elejor, Mau&aacute;, Col&iacute;der, Rio Jord&atilde;o and Baixo Igua&ccedil;u
facilities concession agreement. Includes interest and applicable monetary restatements.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(6)</SUP></TD>
    <TD STYLE="text-align: justify">Includes expected exchange variation.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(7)</SUP></TD>
    <TD STYLE="text-align: justify">Income Tax and Social Contribution due by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o in 2014 and joining the Special Tax
Regularization Program (Programa Especial de Regulariza&ccedil;&atilde;o Tribut&aacute;ria &ndash; Pert) in August 2017 by Copel
Distribui&ccedil;&atilde;o. Includes interest and applicable monetary restatement.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(8)</SUP></TD>
    <TD STYLE="text-align: justify">For more details, see Note 23 to our audited consolidated financial statements.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(9)</SUP></TD>
    <TD STYLE="text-align: justify">For more details, see Note 9 to our audited consolidated financial statements.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(10)</SUP></TD>
    <TD STYLE="text-align: justify">For more details, see Note 27 to our audited consolidated financial statements.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/107% Georgia, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 0.5in">We are also
subject to risks with respect to tax, labor and civil claims and have provisioned R$1,606.7 million for accrued liabilities under
legal proceedings related to these claims as of December 31, 2019. For more information, see &ldquo;Item 8. Financial Information&mdash;Legal
Proceedings&rdquo; and Notes 15 and 29] to our audited consolidated financial statements.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_026"></A><B>OFF-BALANCE SHEET ARRANGEMENTS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have not
engaged in any off-balance sheet arrangements that have, or are reasonably likely to have a current or future effect on the registrant&rsquo;s
financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures
or capital resources that is material to investors.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_027"></A>Item 6. Directors, Senior Management and Employees</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 36.85pt">We are managed by:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a Board of Directors, which may be composed
of up to nine (9) members and is currently composed of nine (9) members; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a Board of Executive Officers, which is
currently composed of seven (7) members.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_028"></A>BOARD OF DIRECTORS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Board of
Directors ordinarily meets monthly. A majority of the members of the Board of Directors is required for the meeting to be held,
and decisions are taken by a majority vote of those present at the meeting. For additional information, see &ldquo;Item 10. Additional
Information&mdash;Memorandum and Articles of Association&rdquo;. The members of the Board of Directors are elected to serve for
two-year terms and may be reelected. Among the current nine members of the Board of Directors:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">six were elected by the controlling shareholders;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">one was elected by minority shareholders
(holding voting shares);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">one was elected by minority shareholders
(holding outstanding non-voting shares); and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">one was elected by our employees.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">According to
Brazilian Corporate Law, minority shareholders are entitled to appoint and remove at least one member of the Board of Directors,
in a separate election, without the participation of the controlling shareholder, if such minority shareholders hold (i) at least
15% of the company&rsquo;s voting shares or (ii) at least 10% of the company&rsquo;s outstanding non-voting shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Also according
to Brazilian Coroporate law, members of our Board of Directors who are elected by the non-controlling shareholders have the right
to veto (provided it is duly justified) the appointment of the independent accountant made by the majority of the members of our
Board of Directors.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The terms of
the current members of the Board of Directors expire in April 2021. The current members of our Board of Directors are:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 72%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid"><B>Name</B></P></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Position</B></P></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Since</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Marcel Martins Malczewski&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Chairman</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Leila Abraham Loria&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Director</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2017</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Olga Stankevicius Colpo&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Director</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2017</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;Carlos Biedermann&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Director</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Adriana Angela Antoniolli&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Director</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2017</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Marco Ant&ocirc;nio Barbosa C&acirc;ndido&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Director</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2018</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="padding-left: 4.5pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Gustavo Bonini Guedes&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Director</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="padding-left: 4.5pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Luiz Claudio Maia Vieira&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Director</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="padding-left: 4.5pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Daniel Pimentel Slaviero&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Director</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 0.5in">The following
are brief biographies of the current members of our Board of Directors:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0.9pt 6pt 0; text-align: justify; text-indent: 38.5pt"><I>Marcel
Martins Malczewski</I>. Mr. Malczewski was born on December 8, 1964. He holds a Master's degree in Industrial Sciences and Computing
from Universidade Tecnol&oacute;gica Federal do Paran&aacute; (2001); and a Bachelor's degree in Electrical Engineering from Universidade
Federal do Paran&aacute; (1992). Mr. Malczewski also attended the Owner/President Management Program at Harvard Business School
(2004). He is currently Chairman of the Board of Directors of Companhia Paranaense de Energia - Copel. Additionally, Mr.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0.9pt 6pt 0; text-align: justify">Malczewski is a partner at M3 Investimentos
Ltda. and at Trivella M3 Investimentos S.A. Previously, he was co-founder (1990), CEO (2001-2009), Chairman (2010-2011) and member
of the Board of Directors (2012-2015) at Bematech S.A. He was also a Professor (1989-1994) and coordinator (1991-1994) of the Computer
Engineering undergraduate course at Pontif&iacute;cia Universidade Cat&oacute;lica do Paran&aacute;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0.9pt 6pt 0; text-align: justify; text-indent: 38.5pt"><I>Leila
Abraham Loria</I>. Ms. Loria was born on January 26, 1954. Ms. Loria took an advanced Governance, Risk and Compliance training
course at Risk University - KPMG (2018) and a Corporate Governance and Innovation course at Nova School of Business and Economics,
in Lisbon, Portugal (2016). She holds a Post-MBA in Corporate Governance and Capital Markets for executives from B.I. International
(2015) and an International Executive MBA from APG-Amana (1994). Ms. Loria also has a Taught Master&rsquo;s Degree in Business
Administration from COPPEAD-UFRJ Business School (1978) and a Bachelor&rsquo;s Degree in Business Administration from Funda&ccedil;&atilde;o
Get&uacute;lio Vargas (1976). Ms. Loria is currently a member of the Board of Directors and of the Statutory Audit Committee of
Companhia Paranaense de Energia - Copel. Additionally, she sits on the Board of the Brazilian Institute of Corporate Governance
- IBGC, and of the Board of Directors of Madeira Energia - MESA. She is also a member of the Advisory Board on Casas Pernambucanas,
INPLAC Ind&uacute;stria de Pl&aacute;stico and Cost&atilde;o do Santinho Resort. Previously, she was an Executive Officer at Telefonica
Brasil and Member of the Board of Directors of Telefonica Vivo (2010-2015); Chairman and General Officer at TVA (Abril Group) and
Member of the Board of Directors at Tevecap (1997-2006) and Canbras, a joint venture between Abril and Bell Canada (1998-2002);
General Officer and Member of the Board of Directors at Direct TV (1997-1999); Chief Business Officer at Walmart (1994-1997); and
Chief Officer for Marketing, Sales, Business, Acquisitions and Human Resources at Mesbla (1978-1994).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0.9pt 6pt 0; text-align: justify; text-indent: 38.5pt"><I>Olga
Stankevicius Colpo</I>. Ms. Colpo was born on May 26, 1952. Ms. Colpo received a post-graduate degree from the Executive Program
of Singularity University (2018) and, an international executive MBA degree from FIA/USP (2000); she took a specialization course
in International Business at Harvard University (1996), a specialization course in Managing Managers at Michigan University (1986);
a Continued Education Program in Human Resources Management from Funda&ccedil;&atilde;o Get&uacute;lio Vargas (1984); Ms. Colpo
has a Bachelor&rsquo;s degree in Psychology from Universidade de Mogi das Cruzes - UMC (1975). Ms. Colpo is currently a member
of the Board of Directors and of the Statutory Audit Committee of Companhia Paranaense de Energia - Copel. She is also a member
of the Board of Directors of Solvi S.A., member of the Board of Directors, Audit Committee and People Committee at Banco BMG S.A.;
member of the Consulting Board of the International Executive MBA at FIA; counselor and member of the Executive Board at Childhood
Brasil; Visiting Professor at the International Executive MBA program at FIA/USP; and instructor of the Board of Directors Training
Course at IBGC. Previously, she was Chief Executive Officer at Participa&ccedil;&otilde;es Morro Vermelho S.A. (2009-2016); a partner
at PwC - PricewaterhouseCoopers (1999-2009); and partner at Coopers &amp; Lybrand (1974-1999).</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0.7pt 6pt 0; text-align: justify; text-indent: 38.15pt"><I>Adriana
Angela Antoniolli</I>. Ms. Antoniolli was born on November 19, 1966. Ms. Antoniolli received a post-graduate degree in Applied
Law from Escola da Magistratura do Paran&aacute; (2011) and a post-graduate degree in Marketing and Advertising from Instituto
Superior de P&oacute;s-gradua&ccedil;&atilde;o - ISPG (2000). Ms. Antoniolli holds a degree in Law from Universidade Tuiuti do
Paran&aacute; (2008) and a degree in Accounting from Faculdade de Educa&ccedil;&atilde;o, Ci&ecirc;ncias e Letras de Cascavel (1988).
She is currently a Regulatory Analyst at Copel. Previously, she acted as Services Department Manager at Copel (2013-2015); East
Revenue Department Manager at Copel (2009-2013); and Business Procedures Department Manager at Copel (2008). Ms. Antoniolli was
appointed as a member of our Board of Directors as a representative of our employees.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0.9pt 6pt 0; text-align: justify; text-indent: 38.5pt"><I>Marco
Ant&ocirc;nio Barbosa C&acirc;ndido</I>. Mr. C&acirc;ndido was born on March 6, 1969. Mr. C&acirc;ndido holds a Ph.D. degree in
Production Engineering from Universidade Federal de Santa Catarina - UFSC (1997), a Master&rsquo;s degree in Production Engineering
from Universidade Federal de Santa Catarina - UFSC (1994) and a degree in Aeronautical Mechanics Engineering&nbsp;from Instituto
Tecnol&oacute;gico de Aeron&aacute;utica - ITA (1991). Mr. C&acirc;ndido is currently a member of the Board of Directors and of
the Statutory Audit Committee of Companhia Paranaense de Energia - Copel , Chief Executive Officer and Founding Partner at MBC
Consultoria, member of the Board of Directors of Hospital Santa Rita and Santa Rita Sa&uacute;de health care provider in the city
of Maring&aacute; &ndash; PR, and member of the Board of Directors at the hotel group Rafain, in the city of Foz do Igua&ccedil;u
- PR. Previously, he was a professor and researcher at Pontif&iacute;cia Universidade Cat&oacute;lica do Paran&aacute; - PUCPR
(1995-2013); Chief Executive Officer at Associa&ccedil;&atilde;o Paranaense de Cultura - APC, a parent company of Pontif&iacute;cia
Universidade Cat&oacute;lica do Paran&aacute; - PUCPR (2005-2012); Chief Executive Officer at Grupo Marista (2012-2013); Chief
Executive Officer at Grupo Paysage (2013-2015); member of the Board of Directors at Sistema de</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0.9pt 6pt 0; text-align: justify">Sa&uacute;de M&atilde;e de Deus, health
care provider in the state of Rio Grande do Sul (2014-2015); and member of the Board of Directors at Grupo Positivo (2014-2016).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0.9pt 6pt 0; text-align: justify; text-indent: 38.5pt"><I>Carlos
Biedermann</I>. Mr. Biedermann was born on August 18, 1953. Mr. Biedermann attended the Executive Program of the Singularity University
(2019) and the International Business Programme at INSEAD in France (1995). He holds a post-graduate degree in Financial Markets
from Funda&ccedil;&atilde;o Get&uacute;lio Vargas - FGV (1979) and Bachelors&rsquo; degrees in Accounting, from Unisinos (1977),
and in Business Management and Public Management, from Universidade Federal do Rio Grande do Sul (1975). He is currently a member
of the Board of Directors and of the Statutory Audit Committee of Companhia Paranaense de Energia - Copel. Mr. Biedermann has considerable
experience as a board member in several sectors, including organizations such as Amcham/RS and the Association of Marketing and
Sales Directors of Brazil - ADVB/RS. At present, he also has seats in the Board of Directors of Lojas Lebes and Maiojama Empreendimentos
Imobili&aacute;rios; in the Audit Committee of Suzano Papel e Celulose, Grupo Algar, Grupo Solar and Grupo Corn&eacute;lio Brennand;
and as Chairman of the Deliberative Council of Gr&ecirc;mio Foot-Ball Porto Alegrense. Additionally, he is an instructor at the
Brazilian Institute of Corporate Governance - IBGC and a partner at Biedermann Consulting. Previously, he was senior partner for
the southern region and senior partner of Capital and Infrastructure Projects (CP&amp;I) for Brazil at PricewaterhouseCoopers (2002
- 2015); Chairman of the Audit Committee of IBGC (2009 - 2014), Chairman (2013 - 2014) and member (2009 - 2017) of the Board of
the Young Presidents Organization - YPO, and a guest lecturer in the Post-MBA Corporate Governance Program at Unisinos (2017 -
2019).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0.9pt 6pt 0; text-align: justify; text-indent: 38.5pt"><I>Gustavo
Bonini Guedes</I>. Mr. Guedes was born on April 10, 1982. He holds a post-graduate degree in Election Law from Centro Universit&aacute;rio
Curitiba (2009) and a Bachelor's degree in Law from Centro Universit&aacute;rio Aut&ocirc;nomo do Brasil (2005). Mr. Guedes is
currently a member of the Board of Directors of Companhia Paranaense de Energia - Copel. Additionally, he is a member of the Brazilian
Academy of Election and Political Law - Abradep and a founding partner at Bonini Guedes Advocacia. Previously, he was President
of the Election Law Institute of Paran&aacute;; a Professor at Escola Superior de Advocacia - ESA/PR; advisory member of the Election
Law Commission of the Federal Council of the Brazilian Bar Association - OAB; and coordinator of the Election Law Department of
Vernalha Guimar&atilde;es e Pereira Advogados.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0.9pt 6pt 0; text-align: justify; text-indent: 38.5pt"><I>Luiz
Claudio Maia Vieira</I>. Mr. Vieira was born on October 7, 1969. Mr. Vieira attended an Advanced Management Program at Funda&ccedil;&atilde;o
Dom Cabral/INSEAD Fontainebleau (2013) and an Advanced Management Program at IESE Business School in Barcelona (2009). He holds
an MBA in Finance from Columbia University (1998) and a Bachelor&rsquo;s degree in Business Management from Funda&ccedil;&atilde;o
Get&uacute;lio Vargas - FGV (1992). Mr. Vieira is currently a member of the Board of Directors and of the Statutory Audit Committee
of Companhia Paranaense de Energia - Copel. Additionally, he is a member of the Board of Directors of Grupo Aviva (Rio Quente and
Costa do Sau&iacute;pe Resorts) and a Partner at Partilha Empreendiemtos. Previously, he was Chief Consumer Goods Officer and Chief
Financial Officer of Nutrimental Ind&uacute;stria e Com&eacute;rcio de Alimentos S.A. (2017 - 2018); Executive Director of Planning
and Finance at Infoglobo Comunica&ccedil;&atilde;o e Participa&ccedil;&otilde;es S.A. (2011 - 2014); CEO of Rede Paranaense de
Comunica&ccedil;&atilde;o - RPCTV (2001 - 2011); and Vice President of Corporate Finance at BNP Paribas Bank (1998 - 2001).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0.9pt 6pt 0; text-align: justify; text-indent: 38.5pt"><FONT STYLE="line-height: 106%"><I>Daniel
Pimentel Slaviero. </I>Mr. Slaviero was born on November 22, 1980. Mr. Slaviero attended the Owner/President Management - OPM program
(2015) and the YPO Harvard President Seminar (2010), both from Harvard Business School. Mr. Slaviero also completed the Executive
Business Program (STC) from Kellog School of Management/Funda&ccedil;&atilde;o Dom Cabral (2009); and holds a degree in Business
Administration from Universidade Positivo - UP (2001). He is currently Copel&rsquo;s Chief Executive Officer and Chairman of the
Board of Directors of Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o S.A., </FONT>Copel Distribui&ccedil;&atilde;o S.A., Copel
Comercializa&ccedil;&atilde;o S.A., Copel Telecomunica&ccedil;&otilde;es S.A. and Copel Renov&aacute;veis S.A.<FONT STYLE="line-height: 106%">.
Previously he acted as the Chief Executive Officer at Sistema Brasileiro de Televis&atilde;o - SBT (2017-2018); Chief Business
Officer at Sistema Brasileiro de Televis&atilde;o - SBT (2017-2018); Chief Institutional Officer at Grupo Silvio Santos (2010-2017);
General Director at Sistema Brasileiro de Televis&atilde;o - SBT Bras&iacute;lia (2010-2017); Chairman at the Brazilian Association
of Radio and Television Broadcasters - ABERT (2006-2016); Executive Officer at Grupo Paulo Pimentel (2001-2010); and Programming
and Production Manager at Grupo Paulo Pimentel (2000-2001).</FONT> <B><BR STYLE="clear: both">
</B></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_029"></A>BOARD OF EXECUTIVE OFFICERS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our Board of
Executive Officers meets every two weeks and is responsible for the daily management of the Company. Each Executive Officer also
has individual responsibilities established by the Board&rsquo;s rules of procedure.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">According to
our bylaws, our Board of Executive Officers consists of seven (7) members. The Executive Officers are elected by the Board of Directors
for two-year terms but may be removed by the Board of Directors at any time. The terms of the current members of the Board of Executive
Officers expire in December 2021. The current members are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Name</B></P></TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Position</B></P></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Since</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Daniel Pimentel Slaviero&#9;</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Chief Executive Officer</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ana Let&iacute;cia Feller &#9;</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Chief Business Management Officer</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2018</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Adriano Rudek de Moura&#9;</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; padding-left: 12.6pt; line-height: 106%; text-align: justify; text-indent: -12.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Chief Financial and Investor Relations Officer </FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2017</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Cassio Santana da Silva&#9;</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Chief Business Development Officer</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Eduardo Vieira de Souza Barbosa&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Chief Legal and Institutional Relations Officer</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Vicente Loi&aacute;cono Neto&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Chief Governance, Risk and Compliance Officer</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2018</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">David Campos&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Chief Assistant Officer.</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
are brief biographies of the current members of our Board of Executive Officers:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Daniel Pimentel
Slaviero</I>. Mr. <I>Slaviero</I> has been our Chief Executive Officer since January 8, 2019. For biographical information regarding
Mr. <I>Slaviero</I>, see &ldquo;Board of Directors&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Ana Let&iacute;cia
Feller. </I>Ms. Feller was born on October 15, 1977. She received an MBA degree in Leadership with emphasis in Management, from
Esta&ccedil;&atilde;o Business School (2015); a Post-graduate degree in Management with emphasis in Strategic People Management,
from FAE Centro Universit&aacute;rio (2009); and a Post-graduate degree in Labor Law, from Unibrasil (2005). She holds a Bachelor&rsquo;s
degree in Law from Pontif&iacute;cia Universidade Cat&oacute;lica do Paran&aacute; (2000). Ms. Feller has been a Lawyer at Companhia
Paranaense de Energia - Copel since 2000, where she also served as Assistant to the Chief Corporate Management Officer (2017-2018);
Chair of the Permanent Compensation Committee (2017-2018); Chair of the Management Committee (2017-2018); Human Resources Chief
Official (2007-2010 e 2013-2017); and member of the Ethical Guidance Council (2006-2008 and 2010-2012). Additionally, she was an
alternate member of the Deliberative Council of Funda&ccedil;&atilde;o Copel de Previd&ecirc;ncia e Assist&ecirc;ncia Social (2014-2018).
She is currently <FONT STYLE="line-height: 106%">Copel&rsquo;s Chief Corporate Management Officer, as well as</FONT> a member of
the Board of Directors of Copel Distribui&ccedil;&atilde;o S.A., Copel Comercializa&ccedil;&atilde;o S.A., Copel Telecomunica&ccedil;&otilde;es
S.A. and Copel Renov&aacute;veis S.A.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Adriano
Rudek de Moura</I>. Mr. Moura was born on September 25, 1962. Mr. Moura took a professional development course at Funda&ccedil;&atilde;o
Dom Cabral (2019), at Instituto Brasileiro de Governan&ccedil;a Corporativa - IBGC (2018), at Duke&rsquo;s Fuqua School of Business
(2010) and at Harvard Business School (2007). He received a post-graduate degree in Finance and Controllership from Funda&ccedil;&atilde;o
Instituto de Pesquisas Cont&aacute;beis, Atuariais e Financeiras - FIPECAFI/USP (1997). Mr. Moura holds a degree in Accounting
from Centro Universit&aacute;rio &Iacute;talo Brasileiro &ndash; Un&iacute;talo (1985). Mr. Moura is currently Copel&rsquo;s Chief
Financial and Investor Relations Officer. He is also Chief Financial and Investor Relations Officer of Copel Gera&ccedil;&atilde;o
e Transmiss&atilde;o S.A.; Chief Financial Officer of Copel Distribui&ccedil;&atilde;o S.A.; Chief Financial Officer of Copel Comercializa&ccedil;&atilde;o
S.A.; and Chief Financial Officer of Copel Renov&aacute;veis S.A.. Previously, he was Vice-president and Chief Management, Financial
and Investor Relations Officer at Elecrolux for Latin America (2003-2017); Chief Management, Financial and Investor Relations Officer
at Electrolux do Brasil (1999-2003); Controller at Electrolux do Brasil (1997-1999); Vice-president at Associa&ccedil;&atilde;o
Nacional de Fabricantes de Produtos Eletroeletr&ocirc;nicos (National Association of Home Appliance Manufacturers)(2013-2015);
member of the Board of Directors at CTI (2011-2017); at Eletros (2013-2015); member of the Supervisory Board at Gafisa (2009-2014);
member of the Supervisory Board at Tenda (2009-2014); at Alphaville (2012-2013); graduate school Professor at Funda&ccedil;&atilde;o
Armando Alvares</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0.9pt 6pt 0; text-align: justify">Penteado - FAAP (1999);
Professor at Faculdade de Administra&ccedil;&atilde;o de Empresas e Economia do Paran&aacute; &ndash; FAE (1995); and auditor and
consultant at Arthur Andersen (1982-1997).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Cassio Santana
da Silva</I>. Mr. da Silva was born on August 14, 1978. He holds a Bachelor&rsquo;s degree in Business Administration from Universidade
Federal do Paran&aacute; - UFPR (2002); and an Executive MBA from Funda&ccedil;&atilde;o Get&uacute;lio Vargas - Rio de Janeiro
(2003). He is currently Copel&rsquo;s Chief Business Development Officer. Previously, he held leading positions in many multinational
companies, such as Business Unit Manager at Telef&ocirc;nica Brasil S.A. (2014-2019); Senior Brand and Trade Manager at Kimberly
Clark (2011-2013); Marketing and Trade Marketing Manager at Danone Northeastern Business Unit (2009-2011); National Trade Marketing
Manager at Danone (2008-2009); Trade Marketing Manager at Philip Morris (2007-2008); Regional Sales Manager at Ambev in the Dominican
Republic (2006-2007); Trade Marketing Manager (2005-2006) and Sales Manager (2002-2005) at AmBev.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><FONT STYLE="line-height: 106%"><I>Eduardo
Vieira de Souza Barbosa. </I>Mr. Barbosa was born on October 3, 1982. Mr. Barbosa holds a post-graduate degree in Constitutional
Law from Academia Brasileira de Direito Constitucional - ABDConst. Mr. Barbosa holds a Bachelor&rsquo;s degree in Law from Universidade
Tuiuti do Paran&aacute; - UTP. He is currently Copel&rsquo;s Chief Legal and Institutional Relations Officer, as well as the Chief
Legal and Institutional Relations Officer of Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o S.A., </FONT>Copel Distribui&ccedil;&atilde;o
S.A., Copel Comercializa&ccedil;&atilde;o S.A. and Copel Renov&aacute;veis S.A.<FONT STYLE="line-height: 106%">. Previously he
acted as Chief Legal Officer of the Conselho de Jovens Empres&aacute;rios - CJE (Young Entrepreneurs Committee) at the State of
Paran&aacute; Trade Association (2011-2016); Member of the Political Council of the State of Paran&aacute; Trade Association (2013-2016);
Strategic Consultant of Companhia Paranaense de Saneamento do Paran&aacute; - Sanepar, Assistant to the Chief Legal Officer for
CS Bioenergia S.A. (2015); Chief Prosecutor of the Commercial Registry of the State of Paran&aacute; (2011-2015); and Legal adviser
and referee to legal and individual entities directly and indirectly connected to the Public Administration.</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Vicente
Loi&aacute;cono Neto. </I>Mr. Loi&aacute;cono was born on June 4, 1983. He received a post-graduate degree in Civil Procedure Law
from Universidade do Sul de Santa Catarina (2010). He holds a Bachelor&rsquo;s degree in Law from Faculdades Integradas Curitiba
(2007). He is currently attending the Master&rsquo;s program on Business Law and Citizenship from Centro Universit&aacute;rio Curitiba
(2019-2021). Mr. Loi&aacute;cono is currently Copel&rsquo;s Chief Governance, Risk and Compliance Officer. Mr. Loi&aacute;cono
has been a lawyer at the company since 2011, where he also served as Advisor to the CEO (2017-2018);; member of the Supervisory
Board of Funda&ccedil;&atilde;o Copel de Previd&ecirc;ncia e Assist&ecirc;ncia Social (2015); and member of the Ethical Guidance
Council (2014). Previously, Mr. Loi&aacute;cono had served as deputy coordinator <FONT STYLE="line-height: 106%">of the Conselho
de Jovens Empres&aacute;rios - CJE (Young Entrepreneurs Committee) at the State of Paran&aacute; Trade Association.</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>David Campos</I>.
Mr. Campos was born on November 05, 1969. Mr. Campos received a Bachelor&rsquo;s degree in Social Communication - Journalism from
Universidade Estadual de Ponta Grossa - UEPG (1990). He is currently Chief Assistant Officer at Companhia Paranaense de Energia
- Copel. Previously he acted as Chief Communication Official at Itaipu Binacional (2017); Municipal Secretary of Social Communication
at Curitiba Municipality (2011-2012); Head of the Mayor&rsquo;s Office in Curitiba (2010); Chief Journalist at the State of Paran&aacute;
Legislative Assembly (2001-2009); Secretary of Social Communication for the State of Paran&aacute; (1999-2000); and Municipal Secretary
of Social Communication at Curitiba Municipality (1997-1998).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_030"></A><B>SUPERVISORY BOARD </B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 9pt 0 12pt; text-align: justify; text-indent: 0.5in">We have a permanent
Supervisory Board (<I>Conselho Fiscal</I>), which generally meets monthly. The Supervisory Board consists of five (5) members and
five (5) alternates elected for two-year terms by the shareholders at the annual meeting. The Supervisory Board, which is independent
of our management and of our external auditors, has the responsibilities provided in Federal Law No. 6,404/1976 and Federal Law
No. 13,303/2016, which include, among others:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing our financial statements and
reporting on them to our shareholders;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">issuing reports on proposed changes in
capitalization, corporate budgets and proposed dividend distributions and any corporate reorganization to be submitted to the shareholders;
and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">in general, supervising the activities
of management and reporting on them to our shareholders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.85pt">The following
table lists the current and alternate members of the Supervisory Board, who were appointed at the 63<SUP>rd</SUP> annual shareholders&rsquo;
meeting held on April 29, 2019 and at the 200<SUP>th </SUP>extraordinary shareholders&rsquo; meeting held on December 2, 2019.
The term of all members of the Supervisory Board indicated below will expire in April 2021.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="width: 76%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Name</B></P></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Since</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Demetrius Nichele Macei&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Harry Fran&ccedil;&oacute;ia J&uacute;nior&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Jos&eacute; Paulo da Silva Filho&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Roberto Lamb&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2017</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Let&iacute;cia Pedercini Issa Maia(1)&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2017</FONT></TD></TR>
<TR STYLE="background-color: Transparent">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Alternates</B>&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Emir Calluf Filho&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Jo&atilde;o Luiz Giona Junior&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2018</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Otamir Cesar Martins&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2018</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Estev&atilde;o de Almeida Accioly&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2019</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Gilberto Pereira Issa<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">2018</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-bottom: 6pt; font: 8pt/107% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><SUP>(1)</SUP></TD>
    <TD>Let&iacute;cia Pedercini Issa Maia, member of our Supervisory Board, is the daughter of Gilberto Pereira Issa, an alternate member
of our Supervisory Board.<BR STYLE="clear: both"></TD></TR>
</TABLE>



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<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_031"></A><B>AUDIT COMMITTEE </B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to
Rule 10A-3 under the Securities Exchange Act and our bylaws, our Audit Committee is composed of five members of our Board of Directors,
each of whom serves a term of two years, and may be re-elected up to three consecutive times. Pursuant to the rules of procedure
of the Audit Committee, the members of this committee are appointed by, and may be replaced by, a resolution taken by our Board
of Directors. The members of the Audit Committee are Mr. Marco Ant&ocirc;nio Barbosa C&acirc;ndido (chairman), Ms. Leila Abraham
Loria, Ms. Olga Stankevicius Colpo, Mr. Luiz Claudio Maia Vieira and Mr. Carlos Biedermann. The Audit Committee is responsible
for auditing, supervising and fiscalizing the processes related to the preparation of our financial statements, ensuring that we
are in compliance with all legal requirements related to our reporting obligations, monitoring the work of the independent auditors
and our staff who are responsible for internal auditing of the Company and reviewing the effectiveness of our internal control
and risk management procedures and staff.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">Under Brazilian
Corporate Law, the function of hiring independent auditors is reserved for the board of directors of a company. As a result, our
Board of Directors acts as our Audit Committee, as specified in Section 3(a)(58) of the Securities Exchange Act, for the purposes
of approving, on a case-by-case basis, any engagement of our independent auditors for audit and non-audit services provided to
us or our subsidiaries. Except in these respects, our Audit Committee is comparable to and performs the functions of audit committees
of U.S. companies.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_032"></A>APPOINTMENT AND EVALUATION COMMITTEE (&ldquo;CIA&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">The CIA is a
permanent statutory body of Copel which provides support to Copel&rsquo;s shareholders. The CIA&rsquo;s purpose is to verify the
compliance of the process of appointment and evaluation of statutory body members of Copel (i.e. Board of Directors, Fiscal Council,
Executive Board and relevant statutory committees), in each case in accordance with (i) the Appointment Policy; (ii) the Internal
Rules of Appointment of Statutory Bodies Members; (iii) other internal rules; and (iv) applicable law. The CIA works closely with
Copel (Holding) and its wholly-owned subsidiaries and its scope may be extended to controlled companies, affiliates and other companies
in which Copel and its wholly-owned subsidiaries hold equity interests.</P>

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<TR>
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Member</B></P></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Position</B></P></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Date
        of Appointment</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Marcos Leandro Pereira&#9;</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">President</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">12.02.2019</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Robson Augusto Pascoalini&#9;</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Member</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">12.02.2019</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Claudio Nogas&#9;</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; padding-left: 12.6pt; text-align: justify; line-height: 106%; text-indent: -12.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Member</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">04.29.2019</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Ana Silvia Corso Matte&#9;</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Member</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">04.29.2019</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-right: -5.4pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Durval Jose Soledade Santos&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Member</FONT></TD>
    <TD STYLE="padding-right: -5.4pt; text-align: center; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">04.29.2019</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B><A NAME="a_033"></A>COMPENSATION OF DIRECTORS, OFFICERS, SUPERVISORY
BOARD MEMBERS AND AUDIT COMMITTEE MEMBERS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Under
Brazilian Corporate law, the total compensation of the Board of Directors, Executive Board and Supervisory Board is established
annually by our general shareholders meeting. Under parapraph 3 of section162 of the Brazilian Corporate Law, the compensation
of the members of our Supervisory Board must be equal to, or greater than, 10% of the average compensation paid to the members
of our Executive Board (excluding benefits, representation funds and profit-sharing plans, if applicable). The members of our Supervisory
Board received in 2018 15% of the monthly compensation of the Chief Executive Officer. Finally, the members of our Audit Committee
(who are also members of our Board of Directors) received the monthly compensation paid to the members of the Supervisory Board
plus R$5,000.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">For
the year ended December 31, 2019, the aggregate amount of compensation paid by us to the members of our Board of Directors, Board
of Executive Officers and Supervisory Board was R$12,549.0 million, of which 78.6% was for our Board of Executive Officers, 14.9%
was for our Board of Directors, and 6.4% was for our Supervisory Board, as approved by our 64rd annual shareholders&rsquo; meeting
held on April 29, 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">The following table
shows additional details about the compensation paid to the members of our Board of Directors, Executive Board and Supervisory
Board for the periods indicated.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Compensation
        (R$&rsquo;000) in the years ended December 31,</B></P></TD></TR>
<TR>
    <TD STYLE="line-height: 106%; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Board
        of Directors</B></P></TD>
    <TD COLSPAN="3">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Executive
        Officers</B></P></TD>
    <TD COLSPAN="3">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Supervisory
        Board</B></P></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt; border-bottom: Black 0.5pt solid"><B>Area</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD>
    <TD>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Number of members<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.33</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.58</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.75</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.00</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7.00</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6.00</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5.00</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5.00</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5.00</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Total Salary&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">514.7</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">854.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">987.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,976.8</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&nbsp;6,562.1</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">6,652.7</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">659.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">628.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">557.2</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Largest Salary&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">230.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">268.8</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">153.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,731.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,404.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,431.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">171.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">169.8</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">162.9</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Smallest Salary&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">158.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">156.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">134.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">805,6</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">867.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">868.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">158.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">90.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">162.9</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Average Salary&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">224.6</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">206.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">148.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,409.7</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,375.1</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,346.4</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">161.8</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">159.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">162.9</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Compensation for attending committees<SUP>(2)</SUP>&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,005.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">508.5</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">62.8</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD></TR>
<TR STYLE="background-color: #EDEDED">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Others<SUP>(3)</SUP>&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">340.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">322.3</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">247.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,059.5</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,719.6</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2,771.9</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">147.5</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">154.9</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">153.0</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Total</B>&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,871.9</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,685.2 </FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,297.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9,868.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9,281.7</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">9,424.6</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">809.1</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">783.1</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">710.2</FONT></TD></TR>
<TR>
    <TD STYLE="width: 27%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 17.85pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">This figure corresponds to the average number of members per year.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: justify">Refers to Statutory Audit Committee.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%"><SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">Refers to Private Pension Contribution, Assistance Plan for all members and Representation Grant for Executive Officers.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have no
service contracts with our directors providing for benefits upon termination of employment. We do not have a stock option plan
for our directors, officers or employees.<BR STYLE="clear: both">
</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_034"></A>EMPLOYEES</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On December
31, 2019, we had 7,095 employees, compared to 7,611 employees on December 31, 2018 and 8,245 employees on December 31, 2017. Including
employees at Compagas, Elejor and UEG Arauc&aacute;ria Ltda. (companies in which we have a majority stake) we had 7,266 employees
as of December 31, 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table sets forth the number of our employees and a breakdown of employees by area of activity as of the dates indicated in each
area of our operations.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>As
        of December 31, </B></P></TD></TR>
<TR>
    <TD STYLE="width: 67%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 1.7pt; border-bottom: Black 0.5pt solid"><B>Area</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 11%">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>2017</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Generation and transmission&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,620</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,660</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,734</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Distribution&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4,964</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,364</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">5,746</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Telecommunications&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">412</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">478</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">649</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Corporation staff and research and development&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">61</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">75</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">78</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other employees&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">38</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">34</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">38</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total employees of Copel wholly-owned subsidiaries&#9;</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>7,095</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>7,611</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>8,245</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Compagas&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">148</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">159</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">163</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Elejor&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Arauc&aacute;ria&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">16</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">17</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">17</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-indent: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total&#9;</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>7,266</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>7,794</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>8,432</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 37.4pt">All of our employees
are covered by collective bargaining agreements that we renegotiate annually with the unions that represent the various employee
groups. In 2019, we negotiated and signed labor agreements with the unions representing our employees. These new bargaining agreements
became effective in October and will be in place for a one-year term. We agreed to salary increases of 2,92% in 2019 compared to
2018 salaries.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We provide
a number of benefits to our employees. The most significant is our sponsorship of <I>Funda&ccedil;&atilde;o Copel de Previd&ecirc;ncia
e Assist&ecirc;ncia Social</I> (&ldquo;Funda&ccedil;&atilde;o Copel&rdquo;), which supplements the Brazilian government retirement
and health benefits available to our employees. As of December 31, 2019, approximately 99% of our employees had elected to participate
in a defined contribution plan.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in">In accordance
with federal law and our compensation policy, our employees participate in a profit-sharing plan. The Board of Directors and the
shareholders must approve the amount of such compensation, which is determined in accordance with an agreement between an employee
committee and us. An employee&rsquo;s receipt of compensation is conditioned on the company meeting certain benchmarks described
in the above-mentioned agreement, as confirmed in our published year-end financial statements. The amount of profit-sharing distributions
reserved and approved for the 2019 fiscal year (including Compagas) was R$155.5 million. The amount of profit-sharing distributions
accrued and approved for the 2018 fiscal year (including Compagas) was R$91.5 million. The terms of the profit-sharing agreement
are currently being revised and negotiated for future years. On November 1, 2019, we launched a new retirement incentive program
(&ldquo;PDI&rdquo;), which was divided into two phases: (i) from November 1 to November 15, 2019, only employees who met the following
requirements were entitled to took advantage of the PDI: (a) having worked at Copel for 25 years or more and (b) being 55 years
old or older; and (ii) from November 16 to November 30, 2019, any employee could apply to the program. All employees who joined
the program were to leave the company prior to December 15, 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Thus, by December
15, 2019, three hundred and ninety-seven (397) employees took advantage of the program, totaling R$43.5 million in benefits paid
and expenses related to this program.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On February
12, 2020 the Board of Directors approved the implementation, within Copel and its wholly-owned subsidiaries, of a short-term incentive
program called Performance Incentive Program <I>(Pr&ecirc;mio Por Desempenho </I>&ldquo;PPD&rdquo;) directed at aligning efforts
throughout different organizational levels to the company's strategic objectives.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The program
prizes technical consistency and takes the best market practices into account. It was developed with the support of Funda&ccedil;&atilde;o
Instituto de Administra&ccedil;&atilde;o - FIA, a consultancy that specializes in people management modernization projects for
the private sector as well as state-owned companies.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As a result,
Copel improves its target-based management strategy and enhances its merit-based culture, thus aligning with the achievement of
its strategic plan. Upholding the company's values, the implementation of the program reflects the commitment of Copel's management
to the improvement of the group's operational efficiency, and to the highest corporate governance standards, strengthening the
pillars that support the business' sustainable growth and longevity.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_035"></A><B>SHARE OWNERSHIP</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of March
31, 2020, board members and executive officers held, collectively, directly or indirectly, less than 0,01% of any class of our
shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
following table indicates the board members, executive officers and members of the Supervisory Board who held shares as of March
31, 2020, and their respective share ownership as of such date. No other board member, executive officer, members or alternate
members of the Supervisory Board held shares issued by the Company on March 31, 2020.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-bottom: 8pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Number of shares</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-bottom: 8pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Common</B></FONT></TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Class A</B></FONT></TD>
    <TD STYLE="padding-bottom: 8pt; padding-left: 0.4pt; line-height: 106%; text-align: center; text-indent: -0.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Class B</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Board of Directors</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="width: 59%; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Marcel Martins Malczewski&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Leila Abraham Loria&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Olga Stankevicius Colpo&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Adriana Angela Antoniolli&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD COLSPAN="4" STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Executive Officers</B></FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Daniel Pimentel Slaviero&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Ana Let&iacute;cia Feller &#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Adriano Rudek de Moura&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Cassio Santana da Silva&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Eduardo Vieira de Souza Barbosa&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Vicente Loi&aacute;cono Neto&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 106%">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="line-height: 106%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD COLSPAN="4" STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Supervisory Board &ndash; Members</B></FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Demetrius Nichele Macei&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Harry Fran&ccedil;&oacute;ia J&uacute;nior&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Jos&eacute; Paulo da Silva Filho&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Roberto Lamb&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Let&iacute;cia Pedercini Issa Maia&#9;</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD COLSPAN="4" STYLE="line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Supervisory Board &ndash; Alternates</B></FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Emir Calluf Filho&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Jo&atilde;o Luiz Giona Junior&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Otamir Cesar Martins&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Estev&atilde;o de Almeida Accioly&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Gilberto Pereira Issa&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">We have no
share-based incentive plan for employees.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><A NAME="a_036"></A>Item 7. Major Shareholders and
Related Party Transactions.</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><A NAME="a_037"></A><B>MAJOR SHAREHOLDERS</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Since
1954, the State of Paran&aacute; has owned the majority of our Common Shares and has exercised control over us. On December 31,
2019, the State of Paran&aacute; directly owned 58.63% of the Common Shares<I>. </I>The State of Paran&aacute; does not have any
different voting rights, but as long as it holds a majority of our Common Shares, it will have the right to elect a majority of
our directors.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
December 31, 2019, BNDESPAR owned directly 26.41% of our Common Shares. The shareholders&rsquo; agreement entered into by and between
the State of Paran&aacute; and BNDESPAR on December 22, 1998, and amended on March 29, 2001, was terminated on December 21, 2018.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
following table sets forth certain information regarding the ownership of our Common Shares on December 31, 2019:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Shareholder</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Common
        shares</B></P></TD></TR>
<TR>
    <TD STYLE="width: 63%; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 21%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(thousands)</B></FONT></TD>
    <TD STYLE="width: 16%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(% of total)</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">State of Paran&aacute;&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">85,029</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">58.6</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">BNDESPAR&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">38,299</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">26.4</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Eletrobras&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1,531</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.1</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Public Float &ndash; ADRs&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">109</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.1</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Public Float &ndash; B3 (Brasil, Bolsa, Balc&atilde;o)&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">19,728</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13.6</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">335</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.2</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">All directors and officers as a group<SUP>(1)</SUP>&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right; border-bottom: #F2F2F2 1.5pt solid">-</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.25in; border-bottom: #F2F2F2 1.5pt solid">-</P></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-align: justify; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total&#9;</B></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>145,031</B></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>100.0</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 11.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 8pt/106% Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><SUP>(1)</SUP></TD>
    <TD>On December 31, 2019, our directors and officers held an aggregate of 2 Common Shares.</TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
table sets forth certain information regarding the ownership of our Class B Shares on December 31, 2019:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Shareholder</B></P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Class
        B Shares</B></P></TD></TR>
<TR>
    <TD STYLE="width: 63%; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 21%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(thousand)</B></FONT></TD>
    <TD STYLE="width: 16%; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(% of total)</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 107%">State of Paran&aacute;&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&ndash;</FONT></TD>
    <TD STYLE="padding-left: 0.25in; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&ndash;</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">BNDESPAR&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">27,282</FONT></TD>
    <TD STYLE="padding-left: 0.25in; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">21.3</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Eletrobras&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&ndash;</FONT></TD>
    <TD STYLE="padding-left: 0.25in; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&ndash;</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Traded as ADSs&#9;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0 2.4pt 0 1.65pt; text-align: right">27,181</P>
        <P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0 2.4pt 0 1.65pt; text-align: right">]</P></TD>
    <TD STYLE="padding-left: 0.25in; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">21.2</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Traded in the B3 (Brasil, Bolsa, Balc&atilde;o)&#9;</FONT></TD>
    <TD STYLE="padding-right: 2.4pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">73,613</FONT></TD>
    <TD STYLE="padding-left: 0.25in; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">57.4</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Other&#9;</FONT></TD>
    <TD STYLE="padding-right: 1.85pt; padding-left: 1.65pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">221</FONT></TD>
    <TD STYLE="padding-left: 0.25in; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.1</FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">All directors and officers as a group&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&ndash;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">&ndash;</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 150%; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total</B>&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right; text-indent: 41.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>128,297</B></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>100.0</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 36.85pt">As of March
31, 2020, 1.19% of the Common Shares and 39.79% of the Class B Shares were held by 239 holders that reside in the United States
and have registered with the B3 (Brasil, Bolsa, Balc&atilde;o) market. At the same date, the ADSs represented 0.07% of the Common
Shares and 18.18% of the Class B Shares, and together, approximately 8.56% of our total share capital. Until December 31,2019,
there were conversions of 1,485 Class A Shares into Class B shares. For the last three fiscal years, we had no changes in the amount
of our issued corporate capital, in the number of our shares or in the voting rights of our shares.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><A NAME="a_038"></A><FONT STYLE="text-transform: uppercase"><B>Related
Party Transactions</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">We
engage in transactions, including the sale of electric energy, with our principal shareholders and with our affiliates. The tariffs
we charge on electric energy sold to our related parties are approved by ANEEL, and the amounts are not material. We also provide
guarantees in the context of financing transactions and power purchase agreements entered into by our subsidiaries in the ordinary
course of business. </FONT>For more information, see Note 36 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Transactions with Shareholders</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
summarizes the most significant transactions with our principal shareholders:</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Government of the State of
Paran&aacute;</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Company's
management and the Paran&aacute; State Government formalized on October 31, 2017 the fifth amendment to the agreement for renegotiation
of the Account for Compensation of Income and Losses - CRC. The State of Paran&aacute; complied with the agreed terms and made
the payments of the monthly interest until December 2017. With the end of the grace period, the State of Paran&aacute; has complied
with the payments under the agreed terms, with 64 monthly installments remaining to be paid. The contract balance is updated by
the IGP-DI variation and interest of 6.65% p.a.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>BNDES and BNDESPAR</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">BNDESPAR, a
wholly-owned subsidiary of BNDES, owns 26.4% of our Common Shares. BNDES has granted us loans to finance the construction of generation
and transmission facilities and both BNDES and BNDESPAR have purchased debentures issued by Compag&aacute;s and all debentures
issued by Nova Asa Branca I, Nova Asa Branca II, Nova Asa Branca III, Nova Eurus IV and Ventos de Santo Uriel Wind Farms, which
are our subsidiaries.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of December
31, 2019, we had an aggregate of R$2,521 million in outstanding debt with BNDES and BNDESPAR under these financing transactions.
For additional information, please see Notes 21 and 22 to our audited consolidated financial statements, as well as &ldquo;Item
5. Operating and Financial Review and Prospects&mdash;Liquidity and Capital Resources.&rdquo;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Funda&ccedil;&atilde;o Copel</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Funda&ccedil;&atilde;o
Copel </I>is a closed pension fund sponsored by Copel, Compagas and other entities that runs and operates benefit plans, welfare
and social assistance. In 2019, Copel made payments to Funda&ccedil;&atilde;o Copel consisting of: (i) rental in the amount of
R$2.5 million and (ii) R$238.3 million for expenditure on pension and welfare plans. For more information, see Notes 32 and 36
to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Transactions with Affiliates</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Dona Francisca Energ&eacute;tica S.A.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We own 23.0%
of the total issued and outstanding share capital of <I>Dona Francisca Energ&eacute;tica S.A</I>. - DFESA.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Until March
2015, we had a power purchase agreement with DFESA, valued at R$81.3 million annually, under which Copel Gera&ccedil;&atilde;o
e Transmiss&atilde;o purchased 100% of DFESA&rsquo;s assured energy. In April 2015, we signed a new ten-year power purchase agreement
with DFESA, valued at R$17.0 million annually, under which Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o purchases 23.03% of
DFESA&rsquo;s assured energy (proportional to Copel&rsquo;s equity interest).</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of December
31, 2019, we had accounts payable to DFESA in the amount of R$1.4 million under the above-mentioned agreements. For more information,
see Note 36 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Foz do Chopim Energ&eacute;tica Ltda.</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We own 35.8%
of Foz do Chopim Energ&eacute;tica Ltda., which operates a hydroelectric generation project. In 2018, we acquired from Foz do Chopim
plant projects for which we recorded a liability of R$19.5 million. In 2019, this acquisition was settled through a matching of
accounts with the dividend&rsquo;s receivable from that supplier, which is part of the Company's consolidated investments as associate.
For more information, see Note 39 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">We
also had balances receivable from jointly controlled projects, mainly in the case of dividends. For additional information, please
see Note 36 to our audited consolidated financial statements.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_039"></A>Item 8. Financial Information</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">See pages F-1
through F-138.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>A. Consolidated Financial Information</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">See &ldquo;Item
3. Key Information&mdash;Selected Financial Data&rdquo;, &ldquo;Item 5. Operating and Financial Review and Prospects&mdash;Overview&rdquo;
and &ldquo;Item 18. Financial Statements.&rdquo;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_040"></A>Legal
Proceedings</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are currently
subject to numerous proceedings relating to civil, administrative, labor and tax claims. Our audited consolidated financial statements
only include provisions <FONT STYLE="letter-spacing: -0.05pt">when the Company has a present obligation (legal or constructive)
resulting from a past event; it is probable (i.e, more likely than not) that an outflow of resources embodying economic benefits
will be required to settle the obligation; and a reliable estimate can be made of the amount necessary to settle the obligation.
</FONT>As of December 31, 2019, our provisions for such risks were R$1,606.7 million. However, it is possible that some amounts
actually paid are different from the estimates made in recognizing these provisions because of determinations of final judgments
and/or liquidations of the award.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As of December
31, 2019, we estimate that the total amount of claims against us, excluding disputes involving non-monetary claims or claims whose
potential losses cannot be reasonably estimated due to the current early stages of proceedings, for which no provisions have been
made, was approximately R$3,485.1 million, of which R$419.9 million correspond to labor claims; R$21.3 million to employee benefits;
R$1,141.4 million to regulatory claims; R$1,273.9 million to civil claims; and R$628.6 million to tax claims. For more information,
see Note 29 to our audited consolidated financial statements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Tax and Social Contribution Claims</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">During the
second half of 2010, two lawsuits were decided before the Federal Regional Court (<I>Tribunal Regional Federal</I>) in favor of
the federal government, reversing the prior judgment that recognized our immunity regarding the payment of COFINS tax. As a result,
the Federal Internal Revenue Service (<I>Receita Federal</I>) issued an infraction notice demanding the payment of COFINS tax from
the period between August 1995 and December 1996. As of December 31, 2019, we had provisioned R$104.2 million to cover expected
losses related to these lawsuits.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Additionally,
we are party to administrative and judicial proceedings pursuant to which we are challenging claims of the Brazilian Social Security
authorities to pay additional security contributions for the period between 2000 and 2006. In these proceedings, we estimate the
amount of our expected loss to be R$30.7 million.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Labor-related Claims</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are the
defendant in several lawsuits filed by either current or past employees of ours, related to overtime claims, dangerous work conditions,
relocation, and other matters. As of December 31, 2019, we have provisions totaling R$673.0 million reflecting the expected losses
related to these lawsuits.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Regulatory</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are disputing
certain regulatory and legal proceedings in connection with ANEEL&rsquo;s allegations that we violated regulatory standards. As
of December 31, 2019, we have provisions totaling R$79.8 million reflecting the expected losses related to these proceedings.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Additional Claims</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are party
to several lawsuits related to accidents involving equipment used in our electricity transmission and distribution grids and vehicle
accidents (for more information see Note 29.1.2(e) to our audited consolidated financial statements). As of December 31, 2019,
we have provisions totaling R$337.0 million reflecting the expected losses related to these lawsuits.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are also
party to several lawsuits brought by landowners whose land has been affected by our transmission and distributions lines. As of
December 31, 2019, we have provisions totaling R$245.8 million reflecting the expected losses related to these lawsuits.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><A NAME="a_041"></A><B>Dividend
Payments</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In accordance
with our bylaws and Brazilian Corporate Law, we regularly pay annual dividends for each fiscal year within sixty days of the declaration
of the dividends at the annual shareholders&rsquo; meeting. To the extent amounts are available for distribution, we are required
to distribute as a mandatory dividend an aggregate amount equal to at least 25.0% of our adjusted net profit. Dividends are allocated
pursuant to the formula described in &ldquo;Dividend Priority of Class A Shares and Class B Shares&rdquo; below. Under Brazilian
Corporate Law, we are not permitted to suspend the mandatory dividend payable with respect to the Common Shares, Class A Shares
and Class B Shares for any year. Brazilian Corporate Law permits, however, a company to suspend the payment of all dividends if
the Board of Directors, with the approval of the Supervisory Board, reports at the shareholders&rsquo; meeting that the distribution
would be detrimental to the Company given its financial circumstances. In such a case, companies with publicly traded securities
must submit a report to the CVM providing the reasons for the suspension of dividend payments. Notwithstanding the above, Brazilian
Corporate Law and our bylaws provide that Class A Shares and Class B Shares shall acquire voting rights if we suspend the mandatory
dividend payments for more than three consecutive fiscal years, and such voting rights will continue until all dividend payments,
including back payments, have been made. We are not subject to any contractual limitations on our ability to pay dividends.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On March 30,
2020, and in the context of the coronavirus (COVID-19) pandemic, the Brazilian Government issued Provisional Measure No. 931 which
is applicable to us and allows for (i) annual shareholders meetings for the fiscal year of 2020 to take place on a date up to seven
months from the end of the respective 2019 fiscal year and (ii) board of directors of Brazilian companies to declare dividends
pending the 2020 annual shareholders meeting.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Calculation of Adjusted Net Profit</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Annual dividends
are payable from our adjusted net profit for such period. Brazilian Corporate Law defines &ldquo;net profit&rdquo; for any fiscal
year as the result of a fiscal year after the deduction of income and social contribution taxes for that fiscal year and after
the deduction of any amounts allocated to employees&rsquo; and management&rsquo;s participation in our results in such fiscal year.
The &ldquo;net profit&rdquo; for a relevant fiscal year is subject to adjustment by the addition or subtraction of amounts allocated
to legal and other reserves, the result of which is known as our adjusted net profit.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In accordance
with Brazilian Corporate Law, we must maintain a legal reserve, to which we must allocate a minimum of 5% of our net profits for
each fiscal year until such reserve reaches an amount equal to 20.0% of our capital stock (calculated in accordance with Brazilian
Corporate Law). However, we are not required to make any allocations to our legal reserve in a fiscal year in which the legal reserve,
when added to our other established capital reserves, exceeds 30.0% of our total capital stock. The amounts to be allocated to
such reserve must be approved by our shareholders in a shareholders&rsquo; meeting and may be used only for the increase of our
capital stock or compensation of losses.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On December
31, 2019, our legal reserve was R$1,014.2 million, or approximately 9.4% of our capital stock at that date.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In addition
to deducting amounts for the legal reserve, under Brazilian Corporate Law net profit may also be adjusted by deducting amounts
allocated to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the contingency reserve: under Brazilian
Corporate Law, our shareholders&rsquo; meeting, upon a justified proposal of our Board of Directors or Board of Executive Officers,
may decide to allocate a percentage of our net profits to a contingency reserve for anticipated losses that are deemed probable
in future years, which amount may be estimated;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the tax incentives reserve: under Brazilian
Corporate Law, our shareholders&rsquo; meeting, upon a justified proposal of our Board of Directors or Board of Executive Officers,
may decide to allocate a percentage of our net profits resulting from government donations or subsidies for investment purposes.</FONT></TD></TR></TABLE>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On the other
hand, net profits may also be increased by:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the reversal of any amounts previously
allocated to a contingency reserve in the fiscal year in which the loss that had been anticipated does not occur as projected or
in which the anticipated loss occurs but is lower than the contingency allocated to it; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">any amounts included in the unrealized
profits reserve that have been realized in the relevant fiscal year and have not been used to offset losses, as approved by our
shareholders&rsquo; meeting, upon the proposal of our Board of Directors or Board of Executive Officers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Moreover, our
net profits are also adjusted by adding the realization of amounts registered under &ldquo;Equity Value Adjustments&rdquo;. The
account &ldquo;Equity Value Adjustments&rdquo; was created as a result of the first-time adoption of IFRS by Copel in 2010, which
caused a fair value revaluation of certain fixed assets and the adoption of the fair value as its &ldquo;deemed cost&rdquo; at
that date. The increase of the deemed cost of fixed assets led to an increase in depreciation costs. Thus, our management has decided
to add to the adjusted net profits the realization of the &ldquo;Equity Value Adjustments&rdquo; in order to compensate for effects
of the increased depreciation costs. This procedure is authorized by ICPC 10 (&ldquo;<I>Interpreta&ccedil;&atilde;o do Comit&ecirc;
de Pronunciamento Cont&aacute;bi</I>l&rdquo;). In 2019, our adjusted net profits used to calculate our dividends was increased
by R$66.2 million as a result of said realization.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The amounts
available for distribution are determined on the basis of the Statutory Financial Statements prepared using the method required
by Brazilian Corporate Law, which differ from our audited consolidated financial statements included herein.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Dividend Priority of Class A Shares and Class B Shares</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">According to
our bylaws, Class A Shares and Class B Shares are entitled to receive annual, non-cumulative minimum dividends, which dividend
per share shall be at least 10% higher than the dividends per share paid to the holders of the Common Shares. Class A Shares have
a dividend priority over the Class B Shares, and Class B Shares have a dividend priority over the Common Shares. To the extent
that dividends are paid, they are to be paid in the following order:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">first, the holders of Class A Shares have
the right to receive a minimum dividend equal to 10% of the total share capital represented by the Class A Shares outstanding at
the end of the fiscal year in respect of which the dividends have been declared;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">second, to the extent there are additional
amounts to be distributed after all amounts allocated to the Class A Shares have been paid, the holders of Class B Shares have
the right to receive a minimum dividend per share equal to (i) the mandatory dividend divided by (ii) the total number of Class
B Shares outstanding at the end of the fiscal year in respect of which the dividends have been declared; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">third, to the extent that there are additional
amounts to be distributed after all amounts allocated to the Class A Shares and the Class B Shares have been paid, the holders
of Common Shares have the right to receive an amount per share equal to (i) the mandatory dividend divided by (ii) the total number
of Common Shares outstanding at the end of the fiscal year in respect of which dividends have been declared, provided that the
Class A Shares and Class B Shares receive dividends per share at least 10% higher than the dividends per share paid to the Common
Shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">To the extent
that there are additional amounts to be distributed after all amounts described in the preceding items have been paid and in the
form therein described, any such additional amount will be divided equally among all our shareholders.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Payment of Dividends</B></P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are required
to hold an annual shareholders&rsquo; meeting by April 30<SUP>th</SUP> of each year at which, among other things, an annual dividend
may be declared by decision of the shareholders on the recommendation of the management, as approved by the Board of Directors.
The payment of annual dividends is based on the financial statements prepared for the fiscal year ending December 31. Under Brazilian
Corporate Law, we must pay dividends to shareholders of record within 60 days of the date of the shareholders meeting that declared
the dividends. A shareholders&rsquo; resolution may set forth another date of payment, which must occur prior to the end of the
fiscal year in which such dividend was declared. We are not required to adjust the amount of paid-in capital for inflation for
the period from the end of the last fiscal year to the date of declaration or to adjust the amount of the dividend for inflation
for the period from the end of the relevant fiscal year to the payment date. Consequently, the amount of dividends paid to holders
of Class B Shares may be substantially reduced due to inflation.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to
our bylaws, our management may declare interim dividends to be paid from profits in our semi-annual financial statements, in accordance
with the Company's dividend policy and subject to further endorsement by the Shareholders&rsquo; Meeting. Any payment of interim
dividends counts towards the mandatory dividend for the year in which the interim dividends were paid.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to
Brazilian Corporate Law, we may pay interest on equity in lieu of dividends as an alternative form of making distributions to shareholders.
We may treat a payment of interest on equity as a deductible expense for tax purposes, provided that it does not exceed the lesser
of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the total amount resulting from (i) Long-Term
Interest Rate (<I>Taxa de Juros a Longo Prazo</I>, or &ldquo;TJLP&rdquo;) multiplied by (ii) the total shareholders&rsquo; equity
(determined in accordance with Brazilian Corporate Law), less certain deductions prescribed by Brazilian Corporate Law; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the greater of (i) 50.0% of current net
income (after the deduction of social contribution on profits (CSLL &#8210; <I>Contribui&ccedil;&atilde;o Social sobre o Lucro
L&iacute;quido</I>) and before taking such distributions and any deductions for corporate income tax) for the year in respect of
which the payment is made or (ii) 50.0% of retained earnings and profit reserves for the year prior to the year in respect of which
the payment is made.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In order to
be eligible to receive amounts remitted in foreign currency outside of Brazil, shareholders who are not residents of Brazil must
register with the Central Bank in order to receive dividends, sales proceeds or other amounts with respect to their shares. The
Class B Shares underlying the ADSs are held in Brazil by the Custodian, as agent for the Depositary, which is the registered owner
of our shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Payments of
cash dividends and distributions, if any, will be made in Brazilian currency to the Custodian on behalf of the Depositary, which
will then convert such proceeds into U.S. dollars and will cause such U.S. dollars to be delivered to the Depositary for distribution
to holders of ADSs. In the event that the Custodian is unable to immediately convert the Brazilian currency received as dividends
into U.S. dollars, the amount of U.S. dollars payable to holders of ADSs may be adversely affected by devaluations of the Brazilian
currency that occur before such dividends are converted and remitted. In the event the holder of an ADS fails to collect its dividends
from the Custodian within three (3) years, counted as of the date when such dividend was made available, Brazilian corporate law
states that such dividends may be returned to us. In this case, the ADS holder shall lose its right to receive the dividends.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The table below sets
forth the cash distributions we paid/will pay as dividends and as interest on equity for the periods indicated.</P>

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 28.35pt; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Payment
        date</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Distribution
        (R$ thousands)</B></P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Payment
        per share (R$)</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="width: 8%; padding-top: 6pt; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-top: 6pt; line-height: 106%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 38%; padding-top: 6pt; line-height: 106%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Common</B></FONT></TD>
    <TD STYLE="width: 13%; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Preferred A</B></FONT></TD>
    <TD STYLE="width: 13%; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Preferred B</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2014</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">June 2015</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">622,523</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.17236</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.52507</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.39000</FONT></TD></TR>
</TABLE>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>2015</B></FONT></TD>
    <TD STYLE="width: 15%; padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>June 2016</B></FONT></TD>
    <TD STYLE="width: 38%; padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>326,795</B></FONT></TD>
    <TD STYLE="width: 13%; padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>1.13716</B></FONT></TD>
    <TD STYLE="width: 13%; padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>2.52507</B></FONT></TD>
    <TD STYLE="width: 13%; padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>1.25473</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2016</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">June 2017</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">282,947</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.98539</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.89050</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">1.08410</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2016</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December 2017</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">223,266</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.77927</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.85932</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2017</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">August 2018</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">266,000</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.92624</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.89050</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">1.01887</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2017</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">August 2018</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">23,401</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.08177</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.08996</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2018</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December 2018</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">280,000</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.97515</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.89050</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">1.07270</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2018</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">April 2019</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">98.54</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.34435</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">-</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">0.37881</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2019</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">December 2019</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">643,000</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.24235</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">3.94657</FONT></TD>
    <TD STYLE="padding-top: 6pt; line-height: 106%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.46692</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 6pt 0 0 28.35pt; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">The table below
sets forth the cash distributions we paid/will pay as dividends and as interest on equity, translated into US$ based on the exchange
rate at year-end, for the periods indicated.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Year</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Payment
        date</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Distribution
        (US$ thousands)</B></P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Payment
        per thousand shares (US$)</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-bottom: 6pt; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 24%; padding-bottom: 6pt; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 29%; padding-bottom: 6pt; line-height: 106%">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Common</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Preferred
        A</B></P></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Preferred
        B</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2014</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">June 2015</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">234,366</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.81785</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.95063</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.89978</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2015</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">June 2016</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">83,691</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.29122</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.64666</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.32133</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2016</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">June 2017</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">86,818</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.30235</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.88690</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.33264</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2016</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December 2017</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">68,505</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.23911</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.26367</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2017</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August 2018</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">81,618</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.29237</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.91241</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.32161</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2017</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">August 2018</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">7,387</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.02581</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.02840</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2018</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December 2018</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">72,262</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.25166</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.74597</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.27684</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2018</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">April 2019</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">25,431</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0,08887</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.09776</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">2019</FONT></TD>
    <TD STYLE="padding-right: 2.05pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">December 2019</FONT></TD>
    <TD STYLE="padding-right: 13.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">159,526</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.55632</FONT></TD>
    <TD STYLE="padding-right: 1.3pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.97913</FONT></TD>
    <TD STYLE="padding-right: 3.85pt; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.61203</FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 6pt 0"><SUP>&nbsp;</SUP></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><A NAME="a_042"></A><B>Item 9. The Offer and Listing</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The principal
trading market for our shares (including our Class B Shares) is the B3 (Brasil, Bolsa, and Balc&atilde;o) market. Our Common Shares
trade on B3 under the symbol &ldquo;CPLE3&rdquo; and our Class B Shares trade under the symbol &ldquo;CPLE6&rdquo;. On March 31,
2020, approximately 15,878 shareholders owned our Class B Shares.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify; text-indent: 0.5in">In the United
States, our Class B Shares in the form of ADSs, each representing one Class B Share (as a result of the reverse stock split), issued
by the Depositary pursuant to the Deposit Agreement by and between Copel, the Depositary and the registered holders and beneficial
owners from time to time of the ADSs. The ADSs trade on the NYSE under the symbols &ldquo;ELP&rdquo; and &ldquo;ELPVY&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">On June 19, 2002,
our shares were listed on Latibex, an Euro-based market for Latin American securities. The shares trade under the symbol &ldquo;XCOP&rdquo;.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><A NAME="a_043"></A><B>Item 10. Additional Information</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_044"></A>Memorandum
and Articles of Association</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Organization</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We are a publicly
traded company duly registered with the CVM under No. 1431-1. According to Article One of our bylaws, we are authorized to pursue,
directly or through consortia or in partnership with private companies, the following objectives and purposes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">researching and studying, technically
and economically, all energy sources, providing solutions for a sustainable development;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">researching, studying, planning, constructing
and developing the production, transformation, transportation, storage, distribution and trade of energy in any of its forms, chiefly
electric power, as well as fuels and energy raw materials;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">studying, planning, designing, constructing
and operating dams and their reservoirs, as well as other undertakings for multiple uses of water resources;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">providing services in energy trading,
energy infrastructure, information and technical assistance concerning the rational use of energy to business undertakings with
the aim of implementing and developing economic activities deemed relevant for the development of the State of Paran&aacute;, upon
approval by the Board of Directors; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Georgia, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 38.7pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">developing activities in the areas of
energy generation, electronic data transmission, electronic communications and control, cellular telephone systems, and other endeavors
that may be deemed relevant to the Company and the State of Paran&aacute;, being authorized, for such aims, upon approval by the
Board of Directors, and for the aims set forth in the second and third sub-items above, to join, preferably holding major stakes
or controlling interest, consortia or concerns with private companies, pension funds or other private entities, to participate
in bidding processes of new concessions and/or already established special purpose companies to exploit already existing concessions,
having taken into consideration, besides the projects' general features, their respective social and environmental impacts. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Except as described
in this section, our bylaws do not contain provisions addressing the duties, authority, or liabilities of directors and management,
which are instead established by Brazilian Corporate Law.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Qualification of Board of Directors</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The appointed
directors must comply with the legal requirements set forth in Federal Law No. 13,303/2016, particularly the ones mentioned in
its article 17, and Federal Law No. 6,404/1976. Moreover, pursuant to Federal Law No. 13,303/2016 and to our bylaws, our Board
of Directors will mandatorily comprise, at least, (i) three independent members, (ii) five members that meet the requirements for
members of the Statutory Audit Committee, and (iii) one member appointed by the employees. Among the members described in item
(ii) above, at least one shall compulsorily have recognized professional experience in matters of corporate accounting in order
to sit on the Statutory Audit Committee.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Limitations on Directors&rsquo; Powers</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Under Brazilian
Corporate Law, if a director or an executive officer has a conflict of interest with the company in connection with any proposed
transaction, the director or executive officer may not vote in any decision of the board of directors or of the board of executive
officers related to that transaction, and must disclose the nature and extent of the conflict of interest for transcription in
the minutes of the meeting. A director or an executive officer may not transact any business with a company, including accepting
any loans, except on reasonable and fair terms for the Company and conditions that are identical to the terms and</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">conditions prevailing in the market or
offered by third parties. According to our bylaws, shareholders set the aggregate compensation payable to directors and executive
officers. For more information, see &ldquo;Item 6. Directors, Senior Management and Employees&rdquo;. Our bylaws do not establish
any mandatory retirement age limits.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Board of Directors and Board
of Executive Officers</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">According
to our bylaws, we are managed by a Board of Directors, composed of nine members and a Board of Executive Officers, composed of
six members. -</P>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
Board of Directors ordinarily meets monthly and is responsible, among other things, for: (i) establishing our corporate strategy;
(ii) defining the general orientation of our business; (iii) defining the responsibilities of members of our Board of Executive
Officers; and (iv) electing the members of our Board of Executive Officers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Our
Board of Executive Officers meets every two weeks and is responsible for the daily management of the Company. Each Executive Officer
also has individual responsibilities established by our bylaws.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">The
members of our Board of Directors, of our Board of Executive Officers, our Supervisory Board and of our statutory committees shall
be liable for any loss or damages resulting from the performance of their duties, in compliance with the applicable law. Notwithstanding,
we shall ensure, provided no conflict with our own interests arises, legal assistance for members or former members of statutory
bodies in judicial and administrative proceedings brought by third parties, during or after their term of office, for the performance
of the duties of their office, in accordance to the terms and provisions of our bylaws.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">For
further information, see Items 6 &ndash; &ldquo;<FONT STYLE="line-height: 106%">Directors, Senior Management and Employees - </FONT>Board
of Directors&rdquo; and &ldquo;<FONT STYLE="line-height: 106%">Directors, Senior Management and Employees - </FONT>Board of Executive
Officers&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Shareholders&rsquo; Meetings</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The convening
of our shareholders&rsquo; meeting is made through publication of a notice to shareholders in two newspapers, which are determined
at the previous shareholders&rsquo; meeting. Generally, we make such notice in <I>Di&aacute;rio Oficial do Estado &ndash; PR </I>and
the <I>Folha de Londrina</I>. As provided by Brazilian Corporate Law, publications have to be made in the official newspaper located
in the state of our corporate headquarters, and in a newspaper with wide circulation in the same city as our corporate headquarters.
The notice must be published no fewer than three times, beginning at least 30 calendar days prior to the scheduled meeting date.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">In
order for a shareholders&rsquo; meeting to be held on first call, shareholders representing at least one- quarter of the voting
capital have to be present, except as otherwise provided for under Brazilian law. If no such quorum is verified, a second meeting
may be called by notice given at least 8 calendar days prior to such meeting and in accordance with the same rules of publication
previously described. The quorum requirements will not apply to a second meeting, subject to the minimum quorum and voting requirements
for certain matters, as discussed as follows. A shareholder without a right to vote may attend a general shareholders&rsquo; meeting
and take part in the discussion of matters submitted for consideration.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">A
shareholder may be represented at a general shareholders' meeting by a proxy appointed in accordance with applicable Brazilian
law not more than one year before the meeting, who must be a shareholder, a company officer, a lawyer or a financial institution.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Right of Withdrawal</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our common
shares and preferred shares are not redeemable, with the exception that a dissenting shareholder has, under certain circunstances
provided for in Brazilian Corporate Law, the right to withdraw its equity interest from a company and to receive a payment for
the portion of shareholder&rsquo;s equity attributable to his or her equity interest.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Preferred Shares Rights</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to
Brazilian Corporate Law, each preferred share of a class that is admitted to trading on a Brazilian stock exchange must have the
certain rights under the Company&rsquo;s bylaws.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our bylaws
comply with the directives provided by Brazilian Corporate Law as follows: (i) our Class A Shares shall have priority in the distribution
of minimum dividends of 10% per year, <I>pro rata</I>, calculated as a percentage of the paid-in capital stock represented by such
shares on December 31<SUP>&nbsp;</SUP>of the previous fiscal year; (ii) our Class B Shares shall have priority in the distribution
of minimum dividends, <I>pro rata</I>, in the amount equivalent to 25.0% of our net profits, as adjusted in accordance with Section
202 of Law No. 6,404/76, calculated as a proportion of the paid-in capital stock represented by such shares on December 31<SUP>st</SUP>
of the previous fiscal year; (iii) the dividends paid on Class B Shares pursuant to item (ii) above shall be paid only from any
remaining profits after the payment of priority dividends to Class A Shares; and (iv) the dividends to be paid per preferred share,
regardless of the class, shall be at least 10% higher than the dividends to be paid per Common Share; and (v) the preferred shares
will acquire voting rights if, during three consecutive fiscal years, we fail to pay a fixed or minimum dividend to which the preferred
shares are entitled. For more information on our dividend policy, see &ldquo;Item 8. Financial Information.&rdquo;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Voting Rights</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As a general
rule, only our Common Shares are entitled to vote and each Common Share corresponds to one vote. Holders of preferred shares acquire
voting rights if, during three consecutive fiscal years, we fail to pay a fixed or minimum dividend to which the preferred shares
are entitled. If a holder of preferred shares acquires voting rights in this manner, such rights will be identical to the voting
rights of a holder of Common Shares and will continue until the dividend is paid.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Preemptive Rights</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our shareholders
have a general preemptive right to subscribe for shares in any capital increase, in proportion to his or her ownership, as provided
for in the Brazilian Corporate Law. A minimum period of 30 days following the publication of notice of a capital increase is assured
for the exercise of the right, and the right is transferable. We may issue shares up to the limit of the authorized capital, excluding
right of first refusal to the shareholders, as provided for in the Brazilian Corporate Law and in our bylaws.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Liquidation</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the event
of liquidation of the Company, after all creditors have been paid, all shareholders will participate equally and ratably in any
remaining residual assets.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Liability of the Shareholders
for Further Capital Calls</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Neither Brazilian
Corporate Law nor our bylaws provide for capital calls. The shareholders&rsquo; liability is limited to the payment of the issue
price of the shares subscribed or acquired.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Conversion Rights</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our bylaws
provide that the only permitted conversion of shares is Class A Shares are convertible into Class B Shares. Our shares are not
otherwise convertible.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Form and Transfer</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our shares
are maintained in book-entry form with a transfer agent (&ldquo;Transfer Agent&rdquo;). To make a transfer of shares, the Transfer
Agent makes an entry in the register, debits the share account of the transferor and credits the share account of the transferee.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Transfers of
shares by foreign investors are made in the manner described above and are executed by the investor&rsquo;s local agent on the
investor&rsquo;s behalf. However, if the original investment was registered with the Central Bank pursuant to a foreign investment
mechanism regulated by Resolution No. 4,373 of September 29, 2014 of the CMN (&ldquo;Resolution No. 4,373&rdquo;) as described
under &ldquo;Exchange Controls&rdquo; as follows, the foreign investor must declare the transfer in its electronic registration.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A shareholder
may choose, in its individual discretion, to hold its shares through B3. Shares are added to the B3 system through Brazilian institutions
that have clearing accounts with the B3. Our shareholder registry indicates which shares are listed on the B3 system. Each participating
shareholder is in turn registered in a register of beneficial shareholders maintained by the B3 and is treated in the same manner
as the other registered shareholders.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Changes in rights of shareholders</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0">A
General Meeting of Shareholders must be held whenever the Company intends to change the rights of holders of our common shares
or preferred shares. Under Brazilian Corporate Law the proposed changes must be approved by a majority of the class of shareholders
that would be affected. Certain changes related to the rights of preferred shares, such as changes in preferences, advantages or
conditions of redemption or amortization, may result in the exercise of rights to withdraw by the holders of the shares affected.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Regulation of and Restrictions
on Foreign Investors</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Foreign investors
face no legal restrictions barring them from holding Common Shares, Class A Shares, Class B Shares or ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The ability
to convert into foreign currency dividend payments and proceeds from the sale of Class B Shares or preemptive rights, and to remit
such amounts outside Brazil is subject to restrictions under foreign investment legislation which generally requires, among other
things, the registration of the relevant investment with the Central Bank. Any foreign investor who registers with the CVM in accordance
with CMN Resolution No. 4,373 may buy and sell securities on Brazilian stock exchanges without obtaining a separate certificate
of registration for each transaction.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Annex II to
CMN Resolution No. 4,373 (&ldquo;Annex II Regulations&rdquo;) allows Brazilian companies to issue depositary receipts in foreign
exchange markets. Our ADS program is duly registered with the Central Bank and the CVM.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Our bylaws
do not impose any limitation on the rights of Brazilian residents or non-residents to hold our shares and exercise the rights in
connection therewith.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Disclosure of Shareholder Ownership</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Under Brazilian
regulations any person or group of persons representing the same interest that carries out a relevant trading involving shares
or securities issued by a publicly traded company must disclose its share ownership to the investor relations officer of such company,
which, in turn, must disclose such information to the CVM and to any relevant stock exchange. A relevant trading is defined as
a transaction by which the direct or indirect equity stake of the persons referred above reaches an equity interest corresponding
to 5% or its multiples (10%, 15%, and so on), of a type or class of shares representing the company&rsquo;s capital stock. Any
subsequent increase or decrease of 5% or its multiples in ownership of any class of shares must be similarly disclosed. The same
reporting obligation applies to the acquisition of any rights over the shares and other securities mentioned in applicable regulation
and to the execution of any derivative financial instruments</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">referenced in shares. If such increase
results in change of corporate control or administrative structure, or if the increase imposes a public offering, in addition to
informing the investor relations officer, a statement containing certain required information must be published in newspapers that
are widely circulated in Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Arbitration</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">As provided
for in our bylaws, we, our shareholders, directors, officers and members of the supervisory board shall resolve through arbitration
any dispute or conflict that may arise between them, regarding, among others, the application, validity, effectiveness, interpretation,
violation and corresponding effects of the provisions of our bylaws, of the current applicable law, of the rules applicable to
the capital markets in general, as well as those of the regulation of the level 1 of corporate governance of B3 (Brasil, Bolsa,
Balc&atilde;o) (&ldquo;<U>Level 1</U>&rdquo;), of the Level 1 participation contract, and of the Sanctions and the Arbitration
Regulations of the B3 Market Arbitration Chamber.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_045"></A>Material
Contracts</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For information
concerning our material contracts, see &ldquo;Item 4. Information on the Company&rdquo; and &ldquo;Item 5. Operating and Financial
Review and Prospects&rdquo;.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_046"></A>Exchange
Controls</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The ownership
of Class A Shares, Class B Shares or Common Shares of the Company by individuals or legal entities domiciled outside Brazil is
subject to certain conditions established under Brazilian law, as described below.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The right to
convert dividend payments and proceeds from the sale of shares into foreign currency and to remit such amounts outside Brazil is
subject to restrictions under Brazilian foreign investment legislation, which generally requires, among other things, that the
relevant investments have been registered with the Central Bank. Such restrictions on the remittance of foreign capital abroad
may hinder or prevent Ita&uacute; Unibanco S.A., as custodian for the Class B Shares represented by ADSs (&ldquo;Custodian&rdquo;),
or holders who have exchanged ADSs for Class B Shares from converting dividends, distributions or the proceeds from any sale of
such Class B Shares, as the case may be, into U.S. dollars and remitting such U.S. dollars abroad. Holders of ADSs could be adversely
affected by delays in, or refusal to grant any, required government approval for conversions of Brazilian currency payments and
remittances abroad of the Class B Shares underlying the ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Under Resolution
No. 4,373/2014, foreign investors may invest in almost all financial assets and engage in almost all transactions available in
the Brazilian financial and capital markets, provided that certain requirements are fulfilled. The definition of foreign investor
includes individuals, legal entities, mutual funds and other collective investment entities, domiciled or headquartered abroad.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">To be eligible
to invest in the Brazilian financial and capital markets, foreign investors must:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 5pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 14.2pt">1.</TD><TD STYLE="text-align: justify">point at least one representative in Brazil with powers to perform actions relating to foreign
investments;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 5pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 14.2pt">2.</TD><TD STYLE="text-align: justify">register as a foreign investor with the CVM;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 5pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 14.2pt">3.</TD><TD STYLE="text-align: justify">register the foreign investment with the Central Bank; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 14.2pt">4.</TD><TD STYLE="text-align: justify">constitute at least one custodian institution authorized by CVM.</TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Securities
and other financial assets held by foreign investors must be registered or maintained in deposit accounts or under the custody
of an entity duly licensed by the Central Bank or the CVM. In addition, securities trading is restricted to transactions carried
out in the stock exchanges or organized over-the-counter markets licensed by the CVM.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Annex II
Regulations provide for the issuance of depositary receipts in foreign markets in respect of shares of Brazilian issuers. Prior
to the issuance of the ADSs, the ADS program was approved by the Central Bank and the CVM under the Annex V to CMN Resolution No.
2,689, which allowed Brazilian companies to issue depositary receipts in foreign exchange markets and was in force by the time
the ADSs were issued. Depositary receipts are currently governed by Resolution No. 4,373. The proceeds from the sale of ADSs by
ADS holders outside Brazil are free of Brazilian foreign investment controls and should not be subject to taxation in Brazil. The
withdrawal and the disposal of Class B Shares upon cancellation of ADS will be subject to taxation in Brazil. For more information,
see &ldquo;<FONT STYLE="line-height: 106%">Item 10. Additional Information</FONT>&mdash;Taxation&mdash;Brazilian Tax Considerations&mdash;Taxation
of Gains Outside Brazil&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">An electronic
registration has been issued in the name of the Depositary with respect to the ADSs and is maintained by the Custodian on behalf
of the Depositary. Pursuant to this electronic registration, the Custodian and the Depositary are able to convert dividends and
other distributions with respect to the Class B Shares represented by ADSs into foreign currency and remit the proceeds outside
Brazil. In the event that a holder of ADSs exchanges such ADSs for Class B Shares, such holder must seek to obtain its own electronic
registration with the Central Bank.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to
Central Bank Resolution No. 4,373/2014, the withdrawal of Class B Shares upon cancellation of ADSs may require simultaneous exchange
transactions in the event the investor decides not to</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">dispose of those Class B Shares. The simultaneous
exchange transactions may be required in order to obtain a certificate of registration of Class B Shares with the Central Bank.
This transaction will be subject to tax in Brazil. For more information, see &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; line-height: 106%">Item
10. Additional Information</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;Taxation&mdash;Brazilian Tax Considerations&mdash;Other
Brazilian Taxes&rdquo;.</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Thereafter,
any holder of Class B Shares may not be able to convert into foreign currency and remit outside Brazil the proceeds from the disposition
of, or distributions with respect to, such Class B Shares, unless such holder obtains his own electronic registration. A holder
that obtains an electronic registration may be subject to less favorable Brazilian tax treatment than a holder of ADSs. For more
information, see &ldquo;<FONT STYLE="line-height: 106%">Item 10. Additional Information</FONT>&mdash;Taxation&mdash;Brazilian Tax
Considerations&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The federal
government may impose temporary restrictions on remittances of foreign capital abroad in the event of a serious imbalance or an
anticipated serious imbalance of Brazil&rsquo;s balance of payments. For approximately six months in 1989 and early 1990, the federal
government froze all dividend and capital repatriations held by the Central Bank that were owed to foreign equity investors, in
order to conserve Brazil&rsquo;s foreign currency reserves. These amounts were subsequently released in accordance with federal
government directives. There can be no assurance that the federal government will not impose similar restrictions on foreign repatriations
in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_047"></A>Taxation</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
summary contains a description of the principal Brazilian and U.S. federal income tax consequences of the acquisition, ownership
and disposition of Class B Shares or ADSs, but it does not purport to be a comprehensive description of all of the tax considerations
that may be relevant to a decision to purchase Class B Shares or ADSs. The summary is based upon the tax laws of Brazil and regulations
thereunder and on the tax laws of the United States and regulations thereunder as in effect on the date hereof, which are subject
to change. Prospective purchasers of Class B Shares or ADSs should consult their own tax advisors as to the tax consequences of
the acquisition, ownership and disposition of Class B Shares or ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Although there
is at present no income tax treaty between Brazil and the United States, the tax authorities of the two countries have had discussions
that may culminate in such a treaty. No assurance can be given, however, as to whether or when a treaty will enter into force or
how it will affect the U.S. holders of Class B Shares or ADSs. Prospective holders of Class B Shares or ADSs should consult their
own tax advisors as to the tax consequences of the acquisition, ownership and disposition of Class B Shares or ADSs in their particular
circumstances.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Brazilian Tax Considerations</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
discussion summarizes the principal Brazilian tax consequences of the acquisition, ownership and disposition of Class B Shares
or ADSs by an individual, entity, trust or organization resident or domiciled outside Brazil for purposes of Brazilian taxation
(&ldquo;Non-Brazilian Holder&rdquo;). It is based on Brazilian law currently in effect, which is subject to differing interpretations
and changes that may apply retroactively. This discussion does not address all the Brazilian tax considerations that may be applicable
to any particular Non-Brazilian Holder, and each Non-Brazilian Holder should consult its own tax advisor about the Brazilian tax
consequences of investing in Class B Shares or ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Taxation of Dividends</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Dividends paid
by the Company in cash or in kind from profits of periods beginning on or after January 1, 1996 (i) to the Depositary in respect
of Class B Shares underlying ADSs or (ii) to a Non-Brazilian Holder in respect of Class B Shares generally will not be subject
to Brazilian withholding income tax. Dividends paid from profits generated before January 1, 1996 may be subject to Brazilian withholding
income tax at varying rates depending upon the year in which the profits have been obtained.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Distributions of Interest
on Equity</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In accordance
with Law No. 9,249, dated December 26, 1995, as amended, Brazilian corporations may make payments to shareholders characterized
as distributions of interest on the equity of the company as an alternative form of making dividend distributions. The rate of
interest may not be higher than TJLP, as determined by the Central Bank from time to time. The total amount distributed as interest
on equity may not exceed, for tax purposes, the greater of (i) 50.0% of net income (after the deduction of the social contribution
on net profits and before taking into account the provision for corporate income tax and the amounts attributable to shareholders
as net interest on equity) related to the period in respect of which the payment is made and (ii) 50.0% of the sum of retained
profits and profit reserves as of the date of the beginning of the period in respect of which the payment is made.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Distributions
of interest on equity paid to Brazilian and Non-Brazilian Holders of Class B Shares, including payments to the Depositary in respect
of Class B Shares underlying ADSs, are deductible by the Company for Brazilian corporate income tax and social contribution on
net profits purposes as far as the limits above described are observed. Such payments to shareholders are subject to Brazilian
withholding income tax at the rate of 15.0%, except for payments to shareholders situated in tax haven jurisdictions (that is,
a country or location that does not impose income tax or where the maximum income tax rate is lower than 20% or where the local
legislation imposes restrictions on disclosing the shareholding composition or the ownership of the investment or the beneficial
owner of the income derived from transactions carried out and attributable to a Non-Brazilian Holder - &ldquo;Tax Haven Holder&rdquo;),
which payments are subject to withholding income tax at a 25.0%</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">rate. A regulation issued by the Brazilian
tax authorities on November 28, 2014 (Ordinance 488, of 2014) decreased, from 20% to 17%, the minimum threshold for certain specific
cases. The reduced 17% threshold applies only to countries and regimes aligned with international standards of fiscal transparency
in accordance with rules to be established by the Brazilian tax authorities in Normative Ruling 1,530 dated December 19, 2014.
The list of tax haven jurisdictions is currently provided in Normative Ruling No. 1,037. These payments may be included, at their
net value, as part of any mandatory dividend. To the extent that payment of interest on net equity is so included, the corporation
is required to distribute to shareholders an additional amount to ensure that the net amount received by them, after payment of
the applicable withholding income tax, plus the amount of declared dividends, is at least equal to the mandatory dividend.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Taxation of Gains Outside
Brazil</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">According to
Law No. 10,833 of December 29, 2003 (&ldquo;Law No. 10,833/03&rdquo;), capital gains realized on the disposition of assets located
in Brazil by a Non-Brazilian Holder, whether to another non-Brazilian resident or to Brazilian residents, are subject to taxation
in Brazil. In this sense, if the Class B Shares are disposed of by a Non-Brazilian Holder, as they are defined as assets located
in Brazil, such holder will be subject to income tax on the gains assessed, following the rules described below, whether the disposition
is conducted in Brazil or abroad and with a Brazilian resident or not.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A disposition
of Class B Shares can occur abroad if an investor decides to cancel its investment in ADSs and register the underlying Class B
Shares as a direct foreign investment under Law No. 4,131. Any capital gain arising from sales or other dispositions of Class B
Shares outside Brazil would be subject to Brazilian income tax at the rates that range from 15% to 22.5% depending on the amount
of the gain, as follows: (i) 15% on gains not exceeding R$5,000,000.00; (ii) 17.5% on gains that exceed R$5,000,000.00 and do not
exceed R$10,000,000.00; (iii) 20% on gains that exceed R$10,000,000.00 and do not exceed R$30,000,000.00; and (iv) 22.5% on gains
exceeding R$30,000,000.00 or, if the investor is a Tax Haven Holder, 25.0%, which should be withheld by the purchaser of the Class
B Shares outside Brazil or its attorney-in-fact in Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Regarding ADSs,
although the matter is not free from doubt, the gains realized by a Non-Brazilian Holder on the disposition of ADSs to another
Non-Brazilian Holder should not be taxed in Brazil, based on the theory that ADSs do not constitute assets located in Brazil for
purposes of Law No. 10,833/03. However, we cannot assure you that Brazilian courts would adopt this theory. Thus, the gain on a
disposition of ADSs by a Non-Brazilian Holder to a resident in Brazil (or possibly even to a Non-Brazilian Holder in the event
that courts determine that ADSs would constitute assets located in Brazil) may be subject to income tax in Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Taxation of Gains in Brazil</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For purposes
of Brazilian taxation, the income tax rules on gains related to disposition of Class B Shares vary depending on the domicile of
the Non-Brazilian Holder, the form by which such Non-Brazilian Holder has registered its investment before the Brazilian Central
Bank and/or how the disposition is carried out, as described below.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Generally,
gains are defined as the positive difference between the amount realized on the sale or exchange of a security and its acquisition
cost. Gains assessed on the disposition of the Class B Shares carried out on the Brazilian stock exchange (which includes the transactions
carried out on the organized over-the-counter market) are:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">exempt from income tax when assessed by a Non-Brazilian Holder registered under Resolution No.
4,373 of the CMN (&ldquo;4,373 Holder&rdquo;) that is not a Tax Haven Holder; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">subject to income tax at a rate of 15.0% in any other case, including the gains assessed by a Non-Brazilian
Holder that (i) is not a 4,373 Holder, or (ii) is a 4,373 Holder and is a Tax Haven Holder.</TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">There can be
no assurance that the current preferential treatment for 4,373 Holders will continue in the future.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any other gains
assessed on a disposition of the Class B Shares that is not carried out on the Brazilian stock exchange is subject to income tax
at the progressive rates ranging from 15% to 22.5%, except for gains assessed by Tax Haven Holders who are subject to an income
tax rate of 25.0%.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If these gains
are related to transactions conducted on the Brazilian non-organized, over-the-counter market, through an intermediary, the withholding
income tax of 0.005% on the sale value shall also be applicable and can be offset with the eventual income tax due on the capital
gain.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The deposit
of Class B Shares in exchange for the ADSs may be subject to Brazilian income tax In this case, the difference between the acquisition
cost and the market price of the Class B Shares would be subject to income tax at the progressive rates ranging from 15% to 22.5%
or 25.0% in the case of investors that are Tax Haven Holders. There may be arguments to claim that this taxation is not applicable
in the case of a Non-Brazilian Holder that is registered under Resolution 4,373 (other than Tax Haven Holders), which should not
be subject to income tax in such a transaction.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The withdrawal
of Class B Shares upon cancellation of ADSs should not be subject to Brazilian income tax, as long as the regulatory rules are
appropriately observed with respect to the registration of the investment before the Central Bank.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the case
of redemption of the Class B Shares or ADSs or capital reduction by a Brazilian corporation, with subsequent withdrawal of the
ADSs, such as our company, the positive difference between the amount effectively received by the Non-Brazilian Holder and the
acquisition cost of the securities redeemed is treated as capital gain derived from the sale or exchange of shares not carried
out on a Brazilian stock exchange market and is therefore subject to income tax at the progressive rates ranging from 15.0% to
22.5% or 25.0%, as the case may be.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any exercise
of preemptive rights relating to the Class B Shares or ADSs will not be subject to Brazilian taxation. Gains on the sale or assignment
of preemptive rights will be subject to the same tax treatment applicable to disposition of Class B Shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Other Brazilian
Taxes</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">There are no
Brazilian inheritance, gift or succession taxes applicable to the ownership, transfer or disposition of Class B Shares or ADSs
by a Non-Brazilian Holder except for gift and inheritance taxes levied by some states in Brazil on gifts made or inheritances bestowed
by individuals or entities not resident or domiciled in Brazil or in the relevant State to individuals or entities that are resident
or domiciled within such State in Brazil. There are no Brazilian stamp, issue, registration, or similar taxes or duties payable
by holders of Class B Shares or ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to
Decree No. 6,306 of December 14, 2007 (&ldquo;Decree No. 6,306/07&rdquo;), a tax on foreign exchange transactions (&ldquo;IOF/Exchange&rdquo;)
may be imposed on the conversion of Brazilian currency into foreign currency (e.g., for purposes of paying dividends and interest)
or <I>vice-versa</I>. Currently, for most exchange transactions, the rate of IOF/Exchange is 0.38%, except for: (i) foreign exchange
transactions for the inflow of funds related to investments in variable income effectuated by a Non-Brazilian Holder in the Brazilian
financial and capital market, in which case the rate is 0%, and (ii) payment of dividends, and interest on shareholders&rsquo;
equity related to the investment mentioned under item (i) above, in which case the rate is zero. Nonetheless, the Brazilian government
may increase the rate to a maximum of 25.0%. Any such increase will be applicable only prospectively.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to
Decree No 6,306/07, the Tax on Bonds and Securities Transactions (&ldquo;IOF/Bonds&rdquo;) may be imposed on any transactions involving
bonds and securities, including those carried out on Brazilian stock, futures and commodities exchanges. The rate of IOF/Bonds
Tax applicable to transactions involving common shares is currently zero if the redemption, transfer or renegotiation occurs after
30 days of their acquisition. As from December 24, 2013, the IOF/Bonds levies at a rate of zero percent on the transfer (<I>cess&atilde;o</I>)
of shares traded in a Brazilian stock exchange environment with the specific purpose of enabling the issuance of depositary</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">receipts to be traded outside Brazil. The
Brazilian government is permitted to increase such rate at any time up to 1.5% per day, but only in respect of future transactions.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>U.S. Federal Income Tax Considerations</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The statements
regarding U.S. tax law set forth below are based on U.S. law as in force on the date of this annual report, and changes to such
law subsequent to the date of this annual report may affect the tax consequences described herein (possibly with retroactive effect).
This summary describes the principal U.S. federal income tax consequences of the ownership and disposition of Class B Shares or
ADSs, but it does not purport to be a comprehensive description of all of the U.S. tax consequences that may be relevant to a decision
to hold or dispose of Class B Shares or ADSs. This summary applies only to purchasers of Class B Shares or ADSs who will hold the
Class B Shares or ADSs as capital assets and does not apply to special classes of holders such as brokers or dealers in securities
or currencies, holders whose functional currency is not the U.S. dollar, holders of 10% or more of our shares <FONT STYLE="line-height: 106%">by
vote or value</FONT> (taking into account shares held directly or through depositary arrangements), tax-exempt organizations, financial
institutions, holders liable for the alternative minimum tax, securities traders who elect to account for their investment in Class
B Shares or ADSs on a mark-to-market basis, regulated investment companies, partnerships or other pass-through entities (or partners
or members therein), insurance companies, U.S. expatriates, and persons holding Class B Shares or ADSs in a hedging transaction
or as part of a straddle, conversion or other integrated transaction for U.S. federal income tax purposes. Moreover, this summary
does not address the Medicare tax on net investment income or the tax consequences to U.S. holders of acquiring, owning or disposing
of Class B Shares or ADSs under any U.S. federal estate or gift, state, local or foreign taxes.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Each holder
is encouraged to consult such holder&rsquo;s tax advisor concerning the overall tax consequences to it, including the consequences
under laws other than U.S. federal income tax laws, of an investment in Class B Shares or ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In this discussion,
references to a &ldquo;U.S. holder&rdquo; are to a beneficial holder of a Class B Share or an ADS that is (i) an individual citizen
or resident of the United States of America, (ii) a corporation, or any other entity taxable as a corporation, organized under
the laws of the United States of America, any state thereof, or the District of Columbia, or (iii) otherwise subject to U.S. federal
income taxation on a net basis with respect to the Class B Share or ADS.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For purposes
of the U.S. Internal Revenue Code of 1986, as amended, which we call the &ldquo;Code&rdquo;, holders of ADSs will generally be
treated as owners of the Class B Shares represented by such ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Taxation of Distributions</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A U.S. holder
will recognize dividend income for U.S. federal income tax purposes in an amount equal to the amount of any cash and the value
of any property distributed by us as a dividend to the extent that such distribution is paid out of our current or accumulated
earnings and profits, as determined for U.S. federal income tax purposes, when such distribution is received by the custodian (or
by the U.S. holder in the case of a holder of Class B Shares).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We do not expect
to maintain calculations of our earnings and profits in accordance with U.S. federal income tax principles. U.S. holders therefore
should expect that distributions generally will be treated as dividends for U.S. federal income tax purpose.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If you are
a U.S. holder, the amount of any distribution will include the amount of Brazilian tax withheld on the amount distributed, and
the amount of a distribution paid in <I>reais</I> will be measured by reference to the exchange rate for converting <I>reais</I>
into U.S. dollars in effect on the date the distribution is received by the custodian (or by a U.S. holder in the case of a holder
of Class B Shares). If the custodian (or U.S. holder in the case of a holder of Class B Shares) does not convert such <I>reais</I>
into U.S. dollars on the date it receives them, it is possible that the U.S. holder will recognize foreign currency loss or gain,
which would be ordinary loss or gain, when the <I>reais</I> are converted into U.S. dollars. Dividends paid by us will not be eligible
for the dividends received deduction allowed to corporations under the Code.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Subject to
certain exceptions for short-term and hedged positions, the U.S. dollar amount of dividends received by an individual, with respect
to the ADSs, will be subject to taxation at preferential rates if the dividends are &ldquo;qualified dividends&rdquo;. Dividends
paid on the ADSs will be treated as qualified dividends if (i) the ADSs are readily tradable on an established securities market
in the United States and (ii) we were not, in the year prior to the year in which the dividend was paid, and are not, in the year
in which the dividend is paid, a passive foreign investment company (&ldquo;PFIC&rdquo;). The ADSs are listed on the New York Stock
Exchange, and will qualify as readily tradable on an established securities market in the United States so long as they are so
listed. Based on our audited consolidated financial statements and relevant market and shareholder data, we believe that we were
not treated as a PFIC for U.S. federal income tax purposes with respect to our 2018 and 2019 taxable years. In addition, based
on our audited consolidated financial statements and our current expectations regarding the value and nature of our assets, the
sources and nature of our income, and relevant market and shareholder data, we do not anticipate becoming a PFIC for the 2020 taxable
year.&nbsp;Based on existing guidance, it is not clear whether dividends received with respect to the Class B Shares will be treated
as qualified dividends, because the Class B Shares themselves are not listed on a U.S. exchange.Holders of ADSs and Class B Shares
should consult their own tax advisers regarding the availability of the reduced dividend tax rate in the light of the considerations
discussed above and their own particular circumstances.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Distributions
with respect to the Class B Shares or ADSs generally will be treated as dividend income from sources outside of the United States
and generally will be treated separately along with other items of &ldquo;passive&rdquo; income for purposes of determining the
credit for foreign income taxes allowed under the Code. Subject to certain limitations, Brazilian income tax withheld in connection
with any distribution, with respect to the Class B Shares or ADSs may be claimed as a credit against the U.S. federal income tax
liability of a U.S. holder if such U.S. holder elects for that year to credit all foreign income taxes. Alternatively such Brazilian
withholding tax may be taken as a deduction against taxable income. Foreign tax credits will not be allowed for withholding taxes
imposed in respect of certain short-term or hedged positions and may not be allowed in respect of arrangements in which a U.S.
holder&rsquo;s expected economic profit, after non-U.S. taxes, is insubstantial. U.S. holders should consult their own tax advisors
concerning the implications of these rules in light of their particular circumstances.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Distributions
of additional shares to holders with respect to their Class B Shares or ADSs that are made as part of a pro rata distribution to
all our shareholders generally will not be subject to U.S. federal income tax.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Holders of
Class B Shares or ADSs that are foreign corporations or nonresident alien individuals, which we call &ldquo;Non-U.S. Holders&rdquo;,
generally will not be subject to U.S. federal income tax or withholding tax on distributions with respect to Class B Shares or
ADSs that are treated as dividend income for U.S. federal income tax purposes unless such dividends are effectively connected with
the conduct by the holder of a trade or business in the United States.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Taxation of Capital Gains</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Upon the sale
or other disposition of a Class B Share or ADS, a U.S. holder will recognize gain or loss for U.S. federal income tax purposes.
The amount of the gain or loss will be equal to the difference between the amount realized in consideration for the disposition
of the Class B Share or ADS (including the gross amount of the proceeds before the deduction of any Brazilian tax) and the U.S.
holder&rsquo;s tax basis in the Class B Share or ADS. Such gain or loss generally will be subject to U.S. federal income tax as
capital gain or loss and will be long-term capital gain or loss if the Class B Share or ADS has been held for more than one year
on the date of the disposition. The net amount of long-term capital gain recognized by an individual holder generally is subject
to taxation at preferential rates. Capital losses may be deducted from taxable income, subject to certain limitations. Gain realized
by a U.S. holder on a sale or disposition of Class B Shares or ADSs generally will be treated as U.S. source income for U.S. foreign
tax credit purposes. Consequently, if Brazilian tax is imposed on such gain, the U.S. holder will not be able to use the corresponding
foreign tax credit, unless the holder has other foreign source income of the appropriate type in respect of which the credit may
be used. Alternatively, such Brazilian tax may be taken as a deduction against taxable income if the U.S. holder does not take
a credit for any foreign income tax during the taxable year.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A Non-U.S.
Holder will not be subject to U.S. federal income tax or withholding tax on gain realized on the sale or other disposition of a
Class B Share or ADS unless (i) such gain is effectively connected with the conduct by the holder of a trade or business in the
United States, or (ii) such holder is an individual who is present in the United States of America for 183 days or more in the
taxable year of the sale and certain other conditions are met.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Foreign Financial Asset Reporting</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.7pt">Certain U.S.
Holders that own &ldquo;specified foreign financial assets&rdquo; with an aggregate value in excess of US$50,000 on the last day
of the taxable year or US$75,000 at any time during the taxable year are generally required to file an information statement along
with their tax returns, currently on Form 8938, with respect to such assets. &ldquo;Specified foreign financial assets&rdquo; include
any financial accounts held at a non-U.S. financial institution, as well as securities issued by a non-U.S. issuer that are not
held in accounts maintained by financial institutions. The understatement of income attributable to &ldquo;specified foreign financial
assets&rdquo; in excess of US$5,000 extends the statute of limitations with respect to the tax return to six years after the return
was filed. U.S. Holders who fail to report the required information could be subject to substantial penalties. Prospective investors
are encouraged to consult with their own tax advisors regarding the possible application of these rules, including the application
of the rules to their particular circumstances.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Backup Withholding and Information
Reporting</I></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Dividends paid
on, and proceeds from the sale or other disposition of, the ADSs or Class B Shares to a U.S. holder generally may be subject to
the information reporting requirements of the Code and may be subject to backup withholding unless the U.S. holder (i) is a corporation
or other exempt recipient or (ii) provides an accurate taxpayer identification number and certifies that no loss of exemption from
backup withholding has occurred. The amount of any backup withholding collected from a payment to a U.S. holder will be allowed
as a credit against the U.S. holder&rsquo;s U.S. federal income tax liability and may entitle the U.S. holder to a refund, provided
that certain required information is furnished to the Internal Revenue Service.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A Non-U.S.
Holder generally will be exempt from these information reporting requirements and backup withholding tax, but may be required to
comply with certain certification and identification procedures in order to establish its eligibility for such exemption in connection
with payments received within the United States or through certain U.S.-related intermediaries.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><A NAME="a_048"></A><B>Dividends
and Paying Agents</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Not applicable.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_049"></A>statement
by experts</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 36.7pt">Not applicable.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><A NAME="a_050"></A><B>SUBSIDIARY
INFORMATION</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 36.7pt">Not applicable.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="a_051"></A><FONT STYLE="text-transform: uppercase"><B>Documents
on Display</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We file reports,
including annual reports on Form 20-F and other information with the SEC pursuant to the rules and regulations of the SEC that
apply to foreign private issuers. We are required to make filings with the SEC by electronic means. Any filings we make electronically
will be available to the public over the Internet at the SEC&rsquo;s website.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For more information
about our securities, see Exhibit 2.4 to this annual report.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt"><B><A NAME="a_052"></A>Item 11. Quantitative and Qualitative Disclosures
about Market Risk</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0.5in">See Note 36.2 to our audited consolidated
financial statements for disclosure about market risk.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt"><A NAME="a_053"></A><B>Item 12. Description of Securities Other than Equity
Securities</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt"><B><A NAME="a_054"></A>Item 12A. Debt Securities</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt"><B><A NAME="a_055"></A>Item 12B. Warrants and Rights</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt"><A NAME="a_056"></A><B>Item 12C. Other Securities</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 11pt"><B><A NAME="a_057"></A>Item 12D. American Depositary Shares</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In the United
States, the Class B Shares trade in the form of ADSs, each representing one Class B Share (as a result of the reverse stock split),
issued by The Bank of New York Mellon (or the Depositary) pursuant to the Deposit Agreement. The ADSs trade under the symbols ELP
and ELPVY. ADS holders are required to pay various fees to the Depositary, and the Depositary may refuse to provide any service
for which a fee is assessed until the applicable fee has been paid. The Depositary is located at 240 Greenwich Street, New York,
NY 10286.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">ADS holders
are required to pay the Depositary: (i) an annual fee of up to US$0.02 per ADS (or portion thereof) for administering the ADS program,
and (ii) amounts in respect of expenses incurred by the Depositary or its agents on behalf of ADS holders, including expenses arising
from compliance with applicable law, taxes or other governmental charges, facsimile transmission, or conversion of foreign currency
into U.S. dollars. In both cases, the Depositary may decide in its sole discretion to seek payment by either billing holders or
by deducting the fee from one or more cash dividends or other cash distributions.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">ADS holders
are also required to pay additional fees for certain services provided by the Depositary, as set forth in the table below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 71%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 1.8pt; text-align: center; border-bottom: Black 0.25pt solid"><B>Depositary
        service</B></P></TD>
    <TD STYLE="width: 29%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 1.8pt; text-align: center; border-bottom: Black 0.25pt solid"><B>Fee
        payable by ADS holders</B></P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #F2F2F2">
    <TD STYLE="padding-top: 3pt; line-height: 106%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">Issuance of ADSs, including issuances resulting from a distribution of shares or rights or other property</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">US$5.00 or less per 100 ADSs (or portion thereof)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Cancellation of ADSs for the purpose of withdrawal, including if the deposit agreement terminates</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">US$5.00 or less per 100 ADSs (or portion thereof)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Distribution of cash dividends</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">US$0.02 or less per ADS</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 71%; padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Distribution of securities distributed to holders of deposited securities which are distributed by the depositary to ADS registered holders</FONT></TD>
    <TD STYLE="width: 29%; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">A fee equivalent to the fee that would be payable if securities distributed to the holder had been shares and the shares had been deposited for issuance of ADSs</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Depositary services</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">US$0.02 (or less) per ADSs per calendar year</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Transfer and registration of shares on the Depositary&rsquo;s share register to or from the name of the depositary or its agent when the holder deposits or withdraws shares</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Registration or transfer fees</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Cable, telex and facsimile transmissions (when expressly provided in the deposit agreement)</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Expenses of the Depositary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Converting foreign currency to U.S. dollars</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Expenses of the Depositary</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Taxes and other governmental charges the Depositary or the custodian are required to pay on any ADS or share underlying an ADS (e.g., stock transfer taxes, stamp duty or withholding taxes)</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">As necessary</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 3pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Any charges incurred by the Depositary or its agents for servicing the deposited securities</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">As necessary</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 12pt 0"><B>Payments by the Depositary</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Depositary
pays us an agreed amount, which includes reimbursements for certain expenses we incur in connection with the ADS program. These
reimbursable expenses currently include legal and accounting fees, listing fees, investor relations expenses and fees payable to
service providers for the distribution of material to ADR holders. For the year ended December 31, 2019, this amount was US$781,639.97
thousand.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_058"></A>Item 13. Defaults, Dividend Arrearages and Delinquencies</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><A NAME="a_059"></A><B>Item 14. Material Modifications to the Rights of
Security Holders and Use of Proceeds</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt"><A NAME="a_060"></A><B>Item 15. Control and Procedures</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>2019 Fiscal Year</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Disclosure Controls and Procedures,
and Report on Internal Control over Financial Reporting</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>(a) Disclosure Control and Procedures</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We evaluated the effectiveness of our
disclosure controls and procedures as of December 31, 2019 with the participation of our Chief Executive Officer and Chief Financial
Officer. Based on our assessment, we concluded that, as of December 31, 2019, because of the material weakness in our internal
control over financial reporting discussed below, our disclosure controls and procedures were not effective in providing reasonable
assurance that the information that we are required to disclose in the reports we present or submit under the Exchange Act is recorded,
processed, summarized and reported, within the deadlines specified in the applicable rules and forms, and are accumulated and reported
to our&nbsp;management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow for timely decisions
regarding any required disclosure.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>(b) Management Annual Report on
Internal Control over Financial Reporting</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our management is responsible for establishing
and maintaining adequate internal control over financial reporting and for evaluating the effectiveness of internal control over
financial reporting. The process of internal controls over financial reporting is designed by our Chief Executive Officer and our
Chief Financial Officer, under the supervision of our Board of Directors, and is carried out by our management and other employees
as a means to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated
financial statements for external purposes in accordance with IFRS, issued by the IASB.</P>


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<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Rules 13a-15 (f) and 15d-15 (f) under
the Exchange Act define internal control over financial reporting as a process designed to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for purposes external in accordance with generally
accepted accounting principles, and includes policies and procedures that (1) refer to record keeping that, in reasonable detail,
accurately and reasonably reflect the transactions and dispositions of the Company's assets; (2) provide reasonable assurance that
transactions are recorded as necessary to enable the preparation of financial statements in accordance with generally accepted
accounting principles, and that Company's receipts and expenses are being made only with authorization from Company's management
and directors; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or
disposition of Company's assets that could have a material effect on the audited consolidated financial statements.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Due to its inherent limitations, internal
control over financial reporting may not prevent or detect distortions. In addition, projections of any assessment of effectiveness
for future periods are subject to numerous risks, including that controls may become inadequate due to changes in conditions.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our management&rsquo;s assessment of
the effectiveness of our internal controls over financial reporting as of December 31, 2019 was based on the criteria established
in the Internal Control - Integrated Structure (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission
(COSO). Based on such criteria, our management concluded that there is a material weakness in our internal control as of December
31, 2019.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A material weakness is a deficiency,
or a combination of deficiencies, in the internal control over financial reporting, in such that there is a reasonable possibility
that a material misstatement of Company's consolidated annual or interim financial statements will not be avoided or detected in
a timely manner.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our management concluded that our internal
control over financial reporting was not effective as of December 31, 2019, because of the following material weakness identified
and assessed by our management as of December 31, 2019:</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Ineffective control related to the
review of the assumptions and the calculation of impairment of fixed assets of Copel Telecomunica&ccedil;&otilde;es, a wholly-owned
subsidiary of the Company, and of UEGA, a non-wholly-owned subsidiary of the Company</B>.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Company's management identified a failure
in the operating effectiveness of the control related to the review of the assumptions and the calculation of impairment of fixed
assets of Copel Telecomunica&ccedil;&otilde;es and of UEGA.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our independent registered public accounting
firm has examined the effectiveness of our internal control of financial disclosure, as indicated in the report included in this
document.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>(c) Attestation Report of the
Registered Public Accounting Firm</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="color: navy; font: 9pt/106% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"></P>

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    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 20%"><P STYLE="font: 7pt/8.5pt Verdana, Helvetica, Sans-Serif; margin: 0">Deloitte Touche Tohmatsu</P>

<P STYLE="font: 7pt/8.5pt Verdana, Helvetica, Sans-Serif; margin: 0">Rua Nunes Machado, 68,<BR>
The Five East Batel &ndash; 18&ordm; andar</P>

<P STYLE="font: 7pt/8.5pt Verdana, Helvetica, Sans-Serif; margin: 0">80250-000 - Curitiba - PR</P>

<P STYLE="font: 7pt/8.5pt Verdana, Helvetica, Sans-Serif; margin: 0">Brasil</P>

<P STYLE="font: 7pt/8.5pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt/8.5pt Verdana, Helvetica, Sans-Serif; margin: 0">Tel.: + 55 (41) 3312-1400</P>

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<P STYLE="font: 7pt/8.5pt Verdana, Helvetica, Sans-Serif; margin: 0">www.deloitte.com.br</P></TD></TR>
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<P STYLE="font: 9pt/106% Arial, Helvetica, Sans-Serif; color: navy; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 12pt 0 10pt"><U>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</U></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0">To the Shareholders and the Board of Directors of<BR>
Companhia Paranaense de Energia - Copel</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt"><U>Curitiba - PR - Brazil</U></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 10pt 0"><B>Opinion on internal control over financial reporting</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">We have audited the internal control over financial reporting
of Companhia Paranaense de Energia - Copel and subsidiaries (the &ldquo;Company&rdquo;) as of December 31, 2019, based on criteria
established in &ldquo;Internal Control - Integrated Framework (2013)&rdquo; issued by the Committee of Sponsoring Organizations
of the Treadway Commission (COSO). In our opinion, because of the effect of the material weakness identified below on the achievement
of the objectives of the control criteria, the Company has not maintained effective internal control over financial reporting as
of December 31, 2019, based on criteria established in &ldquo;Internal Control - Integrated Framework (2013)&rdquo; issued by COSO.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">We have also audited, in accordance with the standards of
the Public Company Accounting Oversight Board - PCAOB (United States), the consolidated financial statements as of and for the
year ended December 31, 2019 of the Company and our report dated April 24, 2020, expressed an unqualified opinion on those financial
statements.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>Basis for opinion</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">The Company&rsquo;s Management is responsible for maintaining
effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial
reporting, included in the accompanying Management&rsquo;s Annual Report on Internal Control over Financial Reporting. Our responsibility
is to express an opinion on the Company&rsquo;s internal control over financial reporting based on our audit. We are a public accounting
firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission - SEC and the PCAOB.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">We conducted our audit in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective
internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding
of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design
and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered
necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

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        <P STYLE="font: 5.5pt/6.5pt Verdana, Helvetica, Sans-Serif; margin: 0">Deloitte refers to one or more of Deloitte Touche Tohmatsu
        Limited, a UK private company limited by guarantee (&quot;DTTL&quot;), its network of member firms, and their related entities.
        DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as &quot;Deloitte Global&quot;)
        does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member
        firms.</P>
        <P STYLE="font: 5.5pt/6.5pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 5.5pt/6.5pt Verdana, Helvetica, Sans-Serif; margin: 0">Deloitte provides audit, consulting, financial advisory,
        risk management, tax and relates services to public and private clients spanning multiple industries. Deloitte serves four out
        of five Fortune Global 500&reg; companies through a globally connected network of member firms in more than 150 countries bringing
        world-class capabilities, insights, and high-quality service to address clients&rsquo; most complex business challenges. To learn
        more about how Deloitte&rsquo;s approximately 286,200 professionals make an impact that matters, please connect with us on Facebook,
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        <P STYLE="font: 5.5pt/6.5pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 5.5pt/6.5pt Verdana, Helvetica, Sans-Serif; margin: 0">&copy; 2020. For information, contact Deloitte Touche Tohmatsu
        Limited.</P></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; font: 12pt/8.5pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B></B></P>

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<TR STYLE="vertical-align: top; text-align: left">
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    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 20%"><P STYLE="font: 7pt/8.5pt Verdana, Helvetica, Sans-Serif; margin: 0"></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt; text-align: center"><B></B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>Definitions and limitations of internal control over
financial reporting</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">A Company&rsquo;s internal control over financial reporting
is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles. A Company&rsquo;s internal control
over financial reporting includes those policies and procedures that: (1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations
of Management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of the Company&rsquo;s assets that could have a material effect on the financial statements.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>Material weakness</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">A material weakness is a deficiency, or a combination of
deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement
of the Company&rsquo;s annual or interim financial statements will not be prevented or detected on a timely basis. The following
material weakness has been identified and included in Management&rsquo;s assessment: ineffective controls related to the review
of the assumptions and the calculation of impairment of fixed assets of Copel Telecomunica&ccedil;&otilde;es, a wholly-owned subsidiary
of the Company, and of UEGA, a non-wholly-owned subsidiary of the Company.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt">This material weakness was considered in determining the
nature, timing, and extent of audit tests applied in our audit of the consolidated financial statements as of and for the year
ended December 31, 2019 of the Company, and this report does not affect our report on such financial statements.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 30pt">Curitiba, April 24, 2020</P>

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    <TD STYLE="width: 100%; padding-right: 5.65pt; padding-left: 5.65pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 10pt">/s/ DELOITTE TOUCHE TOHMATSU</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif; font-size: 10pt">Auditores Independentes &ndash; Curitiba, Brazil</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B></B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>(d) Changes in Internal Control
on Financial Reporting</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Company's management did not identify
any change in the internal control over financial reporting during the fiscal year ended December 31, 2019 that significantly affected
or had a reasonable possibility to significantly affect the internal controls over financial reporting, except for the matter related
to the material weakness mentioned above and with respect to the remediation plans related to the material weakness described below.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Remediation Plan for Material
Weakness Identified as of December 31, 2019</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Company's management is committed
to remediating the material weakness referred to above. The remediation plan described herein is in the process of being implemented
and is designed to directly address the identified material weakness.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">As a preliminary measure, Company's
management decided to implement a performance indicator to monitor remediation actions related to the identified material weakness
including periodic reports to the Audit Committee, the Fiscal Council and the Board of Directors of the Company.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Ineffective control related to
the review of the assumptions and the calculation of impairment of fixed assets of Copel Telecomunica&ccedil;&otilde;es, a wholly-owned
subsidiary of the Company, and of UEGA, a non-wholly-owned subsidiary of the Company</B>.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">This material weakness arises from
dificiencies in the operating effectiveness of the control related to the review of the assumptions and the calculation of impairment
of fixed assets of Copel Telecomunica&ccedil;&otilde;es and UEGA.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The Company has established the
following procedures:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional training and communication to the employees
involved in the processes, including internal control concepts, as well as operational aspects of impairment calculation;</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Implementation of procedures and controls so that all
impairment tests are duly reviewed by another qualified employee of the Company, through a checklist created strictly for this
purpose;</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improvement of the controls and processes to carry out
prior internal evaluation of all potential impacts of impairment indicators.</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Implementation of procedures and control so that all
assumptions&nbsp;related to telecommunications assets&nbsp;and UEGA assets will be formally approved by the executive board of
Copel Telecomunica&ccedil;&otilde;es and UEGA.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Material Weakness identified
as of 2018 Fiscal Year</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Ineffective Controls on the Revenues
of Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o and Copel Telecomunica&ccedil;&otilde;es, wholly-owned subsidiaries of the
Company. </B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">As of December 31, 2018, we reported
a material weakness related to the result of the aggregation of deficiencies in internal controls on revenues in our wholly owned
subsidiaries Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o and Copel Telecomunica&ccedil;&otilde;es. We identified deficiencies
in the design and in the operating effectiveness of controls related to (1) the review of unbilled revenues, by professionals with
adequate levels of authority and competence; (2) absence of controls to verify the accuracy of customer registration information,
including with respect to invoiced prices; and (3) absence of controls verifying the completeness of the revenue invoicing of Copel
Telecomunica&ccedil;&otilde;es.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">In response to this material weakness,
the Company adopted measures to mitigate the risks associated with such material weaknesses that included a set of actions involving
changes in procedures and controls that were implemented throughout 2019:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Establishment of criteria
for calculating the provision for unbilled revenues, including with respect to recalculations at Copel Gera&ccedil;&atilde;o e
Transmiss&atilde;o and Copel Telecomunica&ccedil;&otilde;es;</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intensification of training
initiatives and internal communication procedures to reinforce operational aspects of activities related to the accounting of revenue
balances in Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o and Copel Telecomunica&ccedil;&otilde;es;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improvement of controls
in order to ensure that prices and quantities of contracted energy are duly invoiced at Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improvement of customer
registration, prices and flow registration processes with the implementation of controls and procedures at Copel Telecomunica&ccedil;&otilde;es;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improvement of internal
system to control and certify the integration of information related to Copel Telecomunica&ccedil;&otilde;es, so as to ensure that
Company's revenue is appropriately reported in relation to all of its customers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Remediation of Material Weaknesses
Reported as of December 31, 2018</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">As a means to remedy material deficiencies
identified as of December 31, 2018, Company's management incorporated a committee comprised of Company Directors, with the support
of specialists representing each management department. The aim of the committee was to analyze and establish immediate actions
to remedy the identified deficiencies and its measures were periodically reported to the Statutory Audit Committee, the Fiscal
Council and the Board of Directors CAD throughout 2019.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The Company has continuously been
working to improve its internal controls environment. With the support of a consultancy company specifically engaged to provide
internal controls consultancy, Company&rsquo;s management has successfully established action plans to mitigate risks, carrying
out periodic communication with governance bodies.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">As a result of the work carried
out by Company&rsquo;s management, all material weaknesses identified as of December 31, 2018 have now been remedied.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 36.7pt; margin-right: 0; margin-left: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><A NAME="a_061"></A><B>Item 16A. Audit
Committee Financial Expert</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In May 3, 2019,
our Board of Directors reviewed the qualifications and backgrounds of the members of the Audit Committee and determined that Mr.
Carlos Biedermann an &ldquo;audit committee financial expert&rdquo; within the meaning of Item 16A of Form 20-F and satisfied the
requirements of independence of Rule 10A-3 under the Securities Exchange Act.. For more information regarding our Audit Committee,
see &ldquo;Item 6. Directors, Senior Management and Employees&mdash;Audit Committee&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><A NAME="a_062"></A>Item 16B. Code of Ethics</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">Our code of
ethics, named as &ldquo;Code of Conduct&rdquo;, was first adopted in 2003, applicable to our chief executive officer, our executive
financial officer and the main executives of our accounting department.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">In 2015, our
code was revised after an open consultation process that involved our internal staff and inputs from stakeholders. In this process,
after the proposals were consolidated, the code was approved by our Management and by our Board of Officers. In 2017, an amendment
to this code was approved by our Management and our Board of Directors to reflect new Brazilian regulation on conflict of interests
and periodical training. In 2018, the Code of Ethics was revised and a new version was approved by the Board of Directors on March
13, 2018. In 2019, we began a new process of revising our Code of Ethics, through public consultation, with completion scheduled
for the second half of 2020.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">This code
applies to all of our employees, board members, officers (including our Chief Executive Officer, our Chief Financial Officer and
our officer in charge of our accounting department) and outsourced, as well as those of our wholly-owned subsidiaries. Our code
is available on our website (ir.copel.com) and copies can also be delivered by mail upon a written request sent to the address
provided on the cover page of this 20-F/A.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 35.45pt">As from the
adoption of our code of ethics, we have not granted any implicit or explicit waivers to any sections of our code of ethics to the
above-mentioned employees, board members, officers and outsourced.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><A NAME="a_063"></A><B>Item 16C. Principal Accountant
Fees and Services</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Audit and Non-Audit Fees</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Deloitte Touche
Tohmatsu Auditores Independentes acted as our independent registered public accounting firm for the fiscal years ended December
31, 2019, 2018 and 2017.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The table next sets
forth the total amount billed to Deloitte Touche Tohmatsu Auditores Independentes for services performed in 2019, 2018 and 2017,
and breaks down these amounts by category of service.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="vertical-align: top; padding-bottom: 0.95pt; line-height: 106%; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; padding-right: 6.35pt; padding-left: 6.35pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0.95pt; text-align: center; border-bottom: Black 0.25pt solid"><B>Year
        ended December 31,</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 66%; padding-bottom: 0.95pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%"><B>Billed</B></FONT></TD>
    <TD STYLE="width: 12%; padding-right: 6.35pt; padding-left: 6.35pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0.95pt; text-align: center; border-bottom: Black 0.5pt solid"><B>2019</B></P></TD>
    <TD STYLE="width: 12%; padding-right: 6.35pt; padding-left: 6.35pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0.95pt; text-align: center; border-bottom: Black 0.25pt solid"><B>2018</B></P></TD>
    <TD STYLE="width: 10%">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0 0 0.95pt; text-align: center; border-bottom: Black 0.25pt solid"><B>2017</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0.95pt; line-height: 106%; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>(R$million)</B></FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Audit fees&#9;</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.0</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.9</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">3.9</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Audit-related fees&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">- </FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Tax fees&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.2</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.2</FONT></TD>
    <TD STYLE="text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">0.2 </FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">All other fees&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">-</FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">1.0</FONT></TD>
    <TD STYLE="text-align: right; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">- </FONT></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD STYLE="vertical-align: bottom; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Total&#9;</B></FONT></TD>
    <TD STYLE="vertical-align: top; line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>3.2</B></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>5.1</B></FONT></TD>
    <TD STYLE="line-height: 150%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>4.1</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>Audit Fees</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Audit fees
are fees billed for the audit of our annual financial statements and for the reviews of our quarterly financial information in
connection with statutory and regulatory filings or engagements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>Tax Fees</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Tax fees are
fees billed for the review of fiscal and tax procedures, including the examination of the procedures in force for the calculation,
retention, registration, control, collection, recovery and accounting of taxes, including ancillary obligations.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin-right: 0; margin-left: 0"><B>All Other Fees</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The services
comprising the fees disclosed under &ldquo;All Other Fees&rdquo; refer to (i) the rendering of independent technical assistance
and issuance of opinions in connection with the dispute with the Col&iacute;der Consortium, with respect to the &ldquo;Agreement
for the Supply of Goods and Services&rdquo; for the Implementation of the Col&iacute;der HPP, and (ii) the analysis and issuance
of an opinion in connection with the legal procedure aimed at reestablishing the economic and financial balance of said Agreement.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Audit Committee Pre-Approval
Policies and Procedures</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">When hiring
other services from its external auditors, the Company's practice provides for prior analysis by the Audit Committee of the Board
of Directors, which must consider in this assessment whether a relationship or service provided by an independent auditor: (i)
creates conflicting interests with your audit client; (ii) puts them in a position to audit their own work; (iii) results in acting
as a manager or as an employee of the audit client; or (iv) puts them in a position of attorney for the audit client.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Audit Committee
also considers, in this type of assessment, whether any service provided by the independent auditing company may impair, in fact
or apparently, the firm's independence. Whenever necessary, the Audit Committee can count on the technical support of the Internal
Audit, or of an independent consultancy, for technical evaluation that may be required in each specific case, with discussions
on the contracting of other services being recorded in the minutes of this collegiate meeting independent auditor.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For more information
regarding our Board of Directors and Audit Committee, see &ldquo;Item 6. Directors, Senior Management and Employees&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_064"></A>Item 16D. Exemption from the Listing Standards for
Audit Committees</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.85pt">Under the
listed company audit committee rules of the NYSE and the SEC, we must comply with Securities Exchange Act Rule 10A-3, which requires
that we establish an audit committee composed of members of the board of directors that meets specified requirements. All five
members of our Audit Committee rely on the exemption in Rule 10A-3(b)(iv)(E): (i) Mr. Carlos Biedermann, Mr. Marco Ant&ocirc;nio
Barbosa C&acirc;ndido and Luiz Claudio Maia Vieira, who are designees of the State of Paran&aacute;, and (ii) Ms. Leila Abraham
Loria and Ms. Olga Stankevicius Colpo, who are designees of minority shareholders. In our assessment, each of these members acts
independently in performing the responsibilities of an audit committee member under the Sarbanes-Oxley Act and satisfies the other
requirements of Securities Exchange Act Rule 10A-3. For more information regarding our Audit Committee, see &ldquo;Item 6. Directors,
Senior Management and Employees&mdash;Audit Committee&rdquo;.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><A NAME="a_065"></A><B>Item 16E. Purchases of Equity Securities by the Issuer
and Affiliated Purchasers</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 35.45pt">None.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_066"></A>Item 16F. Changes in Registrant&rsquo;s Certifying
Accountant</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36.85pt">Not applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><A NAME="a_067"></A><B>Item 16G. Corporate Governance</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Section</B></P></TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>New
        York Stock Exchange Corporate Governance Rules for U.S. Domestic Issuers</B></P></TD>
    <TD STYLE="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Copel&rsquo;s
        Approach</B></P></TD></TR>
<TR STYLE="background-color: #F2F2F2">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Director
        Independence</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">303A.01</FONT></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">A company listed on the New York Stock Exchange (a &ldquo;listed company&rdquo;) must have a majority of independent directors on its Board of Directors. &ldquo;Controlled companies&rdquo; are not required to comply with this requirement.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Copel fits the definition of a &ldquo;controlled
        company&rdquo; since the majority of its voting shares are held by the State of Paran&aacute;. As such, Copel would not be required
        to comply with the majority of independent directors requirement. However, Brazilian Law 13,303/2016 requires that at least 25%
        of our board members be independent members and according to Copel&rsquo;s bylaws, meeting the requirements of B3's State-Owned
        Enterprises Governance Program, we are required to have a minimum of 30% of independent directors on Board of Directors.</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">303A.03</FONT></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">The non-management directors of a listed company must meet at regularly scheduled executive sessions without management.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Copel's non-managing directors regularly
        hold executive sessions without management, which are usually scheduled to occur at the end of board meetings.. Our Chief Executive
        Officer is also a member of our board of directors.</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Pursuant to the internal regulations
        of our board of directors, in the event a conflict of interest or particular interest of any board member is identified in relation
        to a matter to be decided to be decided by the board, such board member must recuse himself from the meeting, which will continue
        without his presence.</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Nominating/Corporate
        Governance Committee</B></P></TD></TR>
</TABLE>

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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>303A.04</B></FONT></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%; width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>A listed company must have a Nominating/ Corporate Governance Committee composed entirely of independent directors, with a written charter that covers certain minimum specified duties. &ldquo;Controlled companies&rdquo; are not required to comply with this requirement.</B></FONT></TD>
    <TD STYLE="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>As a controlled company, Copel would
        not be required to comply with the nominating/ corporate governance committee requirements. However, Brazilian Law 13,303 / 2016
        requires Copel to keep a permanent statutory committee, advisory to the shareholders, and responsible for monitoring the nomination
        and evaluation processes applicable to our management, members of our board of directors, Supervisory Board and board committees.
        This committee is composed of members nominated by the shareholders.</B></P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>&nbsp;</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Compensation
        Committee</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">303A.05</FONT></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">A listed company must have a compensation committee composed entirely of independent directors, with a written charter that covers certain minimum specified duties. &ldquo;Controlled companies&rdquo; are not required to comply with this requirement.</FONT></TD>
    <TD STYLE="padding-top: 6pt; padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Copel fits the definition of &ldquo;controlled company&rdquo;, as the majority of its voting shares are held by the State of Paran&aacute;. As a controlled company, Copel would not be required to comply with the compensation committee requirements if it were a U.S. domestic issuer.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Audit
        Committee</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: justify">303A.06</P>
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0">303A.07</P></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">A listed company must have an audit committee with a minimum of three (3) independent directors who satisfy the independence requirements of Rule 10A-3 under the Securities Exchange Act, with a written charter that covers certain minimum specified duties.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="margin: 6pt 0; font: 8pt/150% Times New Roman, Times, Serif; text-align: justify">COPEL has a statutory
        Audit Committee composed of five board members (of whom three must satisfy the requirements set forth in Rule 10A-3 under the Securities
        Exchange Act and one must have professional experience in corporate accounting), each of whom serves a term of two years, and may
        be re-elected up to three consecutive times. One of the positions in our Audit Committee is currently vacant. Pursuant to the Audit
        Committee internal rules, the Audit Committee members are appointed by, and may be replaced by, the Board of Directors. All of
        the members of the Audit Committee are members of our Board of Directors.</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Audit Committee is an advisory
        committee responsible for assisting our Board of Directors and giving its opinion on matters related to our financial and accounting
        management, risks, internal controls and audit, including, but not limited to, the quality, transparency and integrity of our financial
        statements, effectiveness of our internal controls with respect to the preparation of financial reports, as well as the activities,
        independence and quality of the work of our external and internal auditors.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Equity
        Compensation Plans</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">303A.08</FONT></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Shareholders must be given the opportunity to vote on all equity compensation plans and material revisions thereto, with limited exemptions set forth in the NYSE rules.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Under Brazilian Corporate Law, shareholder
        pre-approval is required for the adoption of any equity compensation plans and material revisions thereto.</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Corporate
        Governance Guidelines</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">303A.09</FONT></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">A listed company must adopt and disclose corporate governance guidelines that cover certain minimum specified subjects.</FONT></TD>
    <TD STYLE="padding: 6pt 5.4pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Although the corporate governance practices adopted by Copel do not comply with all the terms specified in the rules of the NYSE, they fulfill the requirements established for companies listed on level 1 of corporate governance of B3 (Brasil, Bolsa, Balc&atilde;o). The Company also adopts the Code of Better Corporate Governance Practices of the Brazilian Institute for Corporate Governance (&rdquo;IBGC&rdquo;) and was granted with a certification under the State-Owned Enterprise Governance Program of B3 (Brasil, Bolsa, Balc&atilde;o) with the maximum score, being the only company in Brazil to obtain this result.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 150%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>Code of Ethics for Directors, Officers and Employees</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 55%">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>303A.10</B></FONT></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><B>A listed company must adopt and disclose a code of business conduct and ethics for its directors, officers and employees, and must promptly disclose any waivers of the code for directors or executive officers.</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Copel has adopted a code of ethics
        that applies to all members of the board of directors, the Supervisory Board, the executive board and employees. </B></P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/106% Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Certification
        Requirements</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">303A.12</FONT></TD>
    <TD STYLE="padding: 6pt 10pt; text-align: justify; line-height: 150%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">A CEO of a listed company must promptly notify the NYSE in writing after any executive officer of the listed company becomes aware of any material non-compliance with any applicable provisions of Section 303A and certify he or she is not aware of any violation by the listed company of NYSE corporate governance listing standards, qualifying the certification to the extent necessary. Each listed company must submit an executed Written Affirmation annually to the NYSE. In addition, each listed company must submit an interim Written Affirmation as and when required by the interim Written Affirmation form specified by the NYSE.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Copel&rsquo;s CEO will promptly notify
        the NYSE in writing after any executive officer of Copel becomes aware of any material non-compliance with any applicable provisions
        of the NYSE corporate governance rules and will also certify if he is not aware of any violation by the listed company of NYSE
        corporate governance listing standards.</P>
        <P STYLE="font: 8pt/150% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Copel submits every year an Annual
        Written Affirmation to the NYSE and will submit an interim Written Affirmation when required.</P></TD></TR>
<TR>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 55%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_068"></A>Item 17. Financial Statements</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt"><B><A NAME="a_069"></A>Item 18. Financial Statements</B></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is
made to pages F-1 through F-138.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><A NAME="a_070"></A><B>Item 19. Exhibits<FONT STYLE="font-size: 10pt; line-height: 106%"><SUP></SUP></FONT></B></P>

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    <TD STYLE="width: 10%; padding-bottom: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">1.1</FONT></TD>
    <TD STYLE="width: 90%; padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Corporate Bylaws approved and consolidated by the 187th Extraordinary Shareholders Meeting, of October 10, 2013, and amended by the 190th Extraordinary Shareholders meeting, of April 23, 2015, and by the 193rd Extraordinary Shareholders meeting of December 22, 2016, and by the 195<SUP>th</SUP> Extraordinary Shareholders meeting of June 7, 2017, and by the 197th Extraordinary Shareholders meeting of June 28, 2018 , and by the 199<SUP>th</SUP> Extraordinary Shareholders meeting of April 29, 2019, and by the 200<SUP>th</SUP> Extraordinary Shareholders meeting of December 02, 2019, incorporated by reference to Exhibit 1.1 to Copel&rsquo;s annual report on Form 20-F dated April 27, 2020 (File Nos. 001-14668, Accession No. 0001292814-20-001451).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Deposit Agreement (preferred shares) dated as of March 21, 1996, as amended and restated as of November 21, 2007, filed with the SEC on February 12, 2009 as an exhibit to our Registration Statement on Form F-6 and incorporated herein by reference (File No. 333-157278).</FONT></TD></TR>
</TABLE>



<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>
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<P STYLE="font: 10pt/106% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Georgia, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="width: 10%; padding-bottom: 6pt; line-height: 106%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 106%">2.4</FONT></TD>
    <TD STYLE="width: 90%; padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">Description of Securities registered under Section 12 of the Exchange Act, incorporated by reference to Exhibit 2.4 to Copel&rsquo;s annual report on Form 20-F dated April 27, 2020 (File Nos. 001-14668, Accession No. 0001292814-20-001451).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">4.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">The Adjustment Agreement of August 4, 1994 between the State of Paran&aacute; and Companhia Paranaense de Energia &#8210; Copel (&ldquo;Adjustment Agreement&rdquo;) (incorporated by reference to our Form F-1 333-7148, filed with the SEC on June 30, 1997), the Deed of Amendment to the Adjustment Agreement (<I>Quarto Termo Aditivo ao Termo de Ajuste celebrado em 21 de janeiro de 2005</I>) (English translation) (incorporated by reference to our annual report on Form 20-F for the year ended December 31, 2005, filed with the SEC on June 30, 2006) (File No. 001-14668), and the Deed of Amendment to the Adjustment Agreement (<I>Quinto Termo Aditivo ao Termo de Ajuste celebrado em 31 de outubro de 2017)</I> (English translation).</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">8.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">List of subsidiaries, incorporated by reference to Exhibit 8.1 to Copel&rsquo;s annual report on Form 20-F dated April 27, 2020 (File Nos. 001-14668, Accession No. 0001292814-20-001451).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><A HREF="ex12_1.htm">Certification of the Chief Executive Officer of Copel, pursuant to Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">12.2</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><A HREF="ex12_2.htm">Certification of the Chief Financial Officer of Copel, pursuant to Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><A HREF="ex13_1.htm">Certification of Chief Executive Officer of Copel, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">13.2</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%"><A HREF="ex13_2.htm">Certification of the Chief Financial Officer of Copel, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">101.INS </FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">XBRL Instance Document.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">101.SCH</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">XBRL Taxonomy Extension Schema Document.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">101. CAL </FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">XBRL Taxonomy Extension Calculation Linkbase Document.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">101. DEF </FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">XBRL Taxonomy Extension Definition Linkbase Document.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">101.LAB </FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">XBRL Taxonomy Extension Label Linkbase Document.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">101.PRE </FONT></TD>
    <TD STYLE="padding-bottom: 6pt; line-height: 150%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt; line-height: 150%">XBRL Taxonomy Extension Presentation Linkbase Document.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 0.5in">We omitted from
the exhibits filed with or incorporated by reference into this annual report certain promissory notes and other instruments and
agreements with respect to our long-term debt, none of which authorizes securities in a total amount that exceeds 10% of our total
assets. We hereby agree to furnish to the Securities and Exchange Commission copies of any such omitted promissory notes or other
instruments or agreements as the Commission requests.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><A NAME="a_071"></A><B>technical
GLOSSARY</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>2013 Concession
Renewal Law</I>: Brazilian Law No. 12,783 enacted on January 11, 2013, under which most generation, transmission and distribution
concessionaires may be renewed at the request of the concessionaire for an additional period of 30 years, but only if the concessionaire
agrees to amend the terms of the concession contract to reflect a new tariff regime to be established by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>A-3 Auctions</I>:
The denomination of electricity auctions for new generation projects being held in the regulated Brazilian market in the third
year before the initial delivery date.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>A-5 Auctions</I>:
The denomination of electricity auctions for new generation projects being held in the regulated Brazilian market in the fifth
year before the initial delivery date.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>ADRs</I>:
American Depositary Receipts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>ADSs</I>:
American Depositary Shares, each representing one Class B Share.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>ANATEL</I>:
The Brazilian National Telecommunication Agency, or the <I>Ag&ecirc;ncia Nacional de Telecomunica&ccedil;&otilde;es.</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>ANEEL</I>:
The Brazilian Electricity Regulatory Agency, or the <I>Ag&ecirc;ncia Nacional de Energia El&eacute;trica</I>.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Annual Permitted
Revenues</I>: The annual revenue established by ANEEL to be charged by a transmission concessionaire for the use of its transmission
lines by third parties, which include Free Customers, generators and distributors, or <I>Receita Anual Permitida</I> - RAP.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 37.4pt"><I>Assured
Energy</I>: Determined amount assigned to each hydroelectric plant according to the energy supply risk criteria defined by MME.
The assured energy also represents the maximum energy that can be sold by the generator, which is set forth in each concession
agreement, irrespective of the volume of electricity actually generated by the facility.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Availability
Agreement</I>: Agreement under which a generator commits to making a certain amount of electrical capacity available to the Regulated
Market. In such case, the generator&rsquo;s revenue is guaranteed and the distributors must bear the risk of a supply shortage.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Average
Tariff or Rate</I>: Total sales revenue divided by total megawatt hours (MWh) sold for each relevant period, including in the case
of the Company, unbilled electricity, or electricity which has been delivered to a customer, but for which the utility has yet
to deliver a bill. Total sales revenue, for the purpose of computing average tariff or rate, includes both gross billings before
deducting value-added tax and unbilled electricity sales upon which such taxes have not yet accrued.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Bilateral
Agreement: </I>Legal instrument that formalizes the purchase and sale of electric energy between Agents of the Chamber of Commercialization
of Electric Energy - CCEE, with the purpose of establishing prices, terms and amounts of supply at determined time intervals.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>B3 (Brasil,
Bolsa, Balc&atilde;o): </I>B3 S.A. - Brasil, Bolsa, Balc&atilde;o, the securities, commodities and futures exchange, headquartered
in S&atilde;o Paulo, Brazil, incoporated as a resulto f the merger of BM&amp;FBOVESPA S.A. &ndash; Bolsa de Valores, Mercadorias
e Futuros and CETIP S.A. &ndash; Mercados Organizados.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Captive
Customers</I>: customers whose energy is supplied by the distributor in which the consumer unit is connected, such as that the
amount paid already includes the energy cost and service cost for use of transmission and distribution - wire service. The consumer
is not free to negotiate the conditions and the flexibility of energy supplied to meet the needs of its business, instead having
to follow the determinations set forth by the distributor. The consumer is subject to the unpredictability of the annual variation
of the value of the distributors&rsquo; tariffs.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>CBLC</I>:
The <I>Companhia Brasileira de Liquida&ccedil;&atilde;o e Cust&oacute;dia.</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>CER:</I>
Reserve Energy Contract (Contrato de Energia Reserva).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Central
Bank</I>: The Brazilian Central Bank, or <I>Banco Central do Brasil.</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Class A
Shares</I>: The Company&rsquo;s class A preferred shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Class B
Shares</I>: The Company&rsquo;s class B preferred shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>CMN</I>:
The National Monetary Council of Brazil, or <I>Conselho Monet&aacute;rio Nacional.</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Code: </I>The
U.S. Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Common Shares</I>:
The Company&rsquo;s common shares.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Copel Distribui&ccedil;&atilde;o
S.A.</I>: The Company&rsquo;s entity engaged in the distribution business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Copel Gera&ccedil;&atilde;o
e Transmiss&atilde;o S.A. or Copel GeT</I>: The Company&rsquo;s entity engaged in the generation and transmission business.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>CRC Account</I>:
The recoverable rate deficit account, or <I>Conta de Resultados a Compensar</I>.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Custodian</I>:
Ita&uacute; Unibanco S.A., as custodian for the Class B Shares represented by ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Decree No.
6,306/07</I>: Brazilian tax Decree No. 6,306 dated December 14, 2007, which regulates tax on credit, exchange and insurance, or
relating to securities - <I>IOF</I>.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Deloitte:
</I>Deloitte Touche Tohmatsu Auditores Independentes.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Deposit
Agreement</I>: A Deposit Agreement between Copel, the Depositary and the registered holders and beneficial owners from time to
time of the ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Depositary</I>:
The Bank of New York Mellon, as depositary.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Distribution</I>:
The transfer of electricity from the transmission lines at grid supply points and its delivery to customers through distribution
lines at voltages between 13.8 kV and 44 kV.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Distributor</I>:
An entity supplying electrical energy to a group of customers by means of a distribution network.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Elejor</I>:
Centrais El&eacute;tricas do Rio Jord&atilde;o S.A.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Eletrosul</I>:
Eletrosul Centrais El&eacute;tricas S.A.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Energy Agreement</I>:
Agreement under which a generator commits to supply a certain amount of electricity and assumes the risk that its electricity supply
could be adversely affected by hydrological conditions and low reservoir levels, which could interrupt the supply of electricity.
In such case, the generator would be required to purchase electricity elsewhere in order to comply with its supply commitments.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Final Customer</I>:
A party that uses electricity for its own needs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="line-height: 106%"><I>FINEP</I></FONT>:
The Brazilian Studies and Projects Funding Agency or <I>Financiadora de Estudos e Projetos</I>.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Free Customers</I>:
Electricity customers that are able to choose their own power suppliers since they meet the following requirements: (i) demand
of at least 3 MW at any voltage for new customers (those connected to the distribution grid after July 1995); (ii) demand of at
least 3 MW and supplied at voltage levels</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">equal to or greater than 69 kV for existing
customers (those connected to the distribution grid before July 1995); and (iii) demand of at least 500 kW and that opt to be supplied
energy by means of alternative sources, such as wind power projects, small hydroelectric power plants or biomass projects (also
known as Special Customers).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Free Market</I>:
Market segment that permits a certain degree of competition. The Free Market specifically contemplates purchase of electricity
by non-regulated entities such as Free Customers and energy traders.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Furnas</I>:
Furnas Centrais El&eacute;tricas S.A</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Generating
Unit</I>: An electric generator together with the turbine or other device that drives it.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Gigawatt
(GW)</I>: One billion watts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Gigawatt
hour (GWh)</I>: One gigawatt of power supplied or demanded for one hour, or one billion watt hours.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>GPON</I>:
Gigabit-Capable Passive Optical Networks - A passive optical network (PON) is a system that brings optical fiber cabling and signals
all or most of the way to the end user. Depending on where the PON terminates, the system can be described as fiber-to-the-curb
(FTTC), fiber-to-the-building (FTTB), or fiber-to-the-home (FTTH). Passive Optical Network: A point-to-multipoint, passive fiber
network architecture in which a single fiber utilizes optical splitters to serve multiple premises. Gigabit PON: Based on the previous
PON types, GPON supports higher data rates and increased security, and has been deployed around the world by major telecom operators.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Group A
Customers</I>: A group of customers that uses electricity at 2.3 kV or higher. Tariffs applied to this group are based on the actual
voltage level at which energy is supplied and the time of day and year the energy is supplied.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Group B
Customers</I>: A group of customers that uses electricity at less than 2.3 kV. Tariffs applied to this group are comprised solely
of an energy charge and are based on the classification of the customer.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>High Voltage</I>:
A class of nominal system voltages equal to or greater than 69,000 volts and less than 230,000 volts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>HPP &ndash;
Hydroelectric Power Plant</I>: A generating unit that uses water power to drive the electric generator.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IASB</I>:
International Accounting Standards Board.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IFRS</I>:
International Financial Reporting Standards.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IGP-DI</I>:
The <I>&Iacute;ndice Geral de Pre&ccedil;os&mdash;Disponibilidade Interna inflation index.</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IGP-M Index</I>:
The Brazilian General Market Price inflation index, or the <I>&Iacute;ndice Geral de Pre&ccedil;os do Mercado.</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Installed
Capacity</I>: The level of electricity that can be delivered from a particular generating unit on a full-load continuous basis
under specified conditions as designated by the manufacturer.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Interconnected
Transmission System</I>: Systems or networks for the transmission of energy, connected together by means of one or more lines and
transformers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IPCA</I>:
<I>&Iacute;ndice Nacional de Pre&ccedil;os ao Consumidor Amplo</I> - IPCA inflation index.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>IPP</I>:
Independent Power Producer, a legal entity or consortium holding a concession or authorization for power generation for sale for
its own account to public Utility concessionaires or Free Customers.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Itaipu</I>:
Itaipu Binacional, a hydroelectric facility equally owned by Brazil and Paraguay, with an installed capacity of 14,000 MW.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Kilovolt
(kV)</I>: One thousand volts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Kilowatt
(kW)</I>: One thousand watts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Kilowatt
hour (kWh)</I>: One kilowatt of power supplied or demanded for one hour, or one thousand watt hours.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Latibex</I>:
A Euro-based market for Latin American securities, which is part of the Madrid Stock Exchange.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Low-income
Residential Customers</I>: A group of customers that consumes less than 220 kWh per month and has filed an application to receive
benefits under any of the federal government&rsquo;s social programs. Low-income residential customers are considered a subgroup
of residential customers and are not subject to payment of emergency capacity and emergency acquisition charges or any extraordinary
tariff approved by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Main Transmission
Concession</I>: transmission concession contract No. 060/2001 comprised of different transmission assets that were in operation
in the year of 2001 (date of execution of the concession agreement).</P>

<P STYLE="font: 10pt/106% Georgia, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>MCSD</I>:
The Mechanism for Compensation of Surpluses and Deficits (<I>Mecanismo de Compensa&ccedil;&atilde;o de Sobras e D&eacute;ficits</I>),
which corresponds to the </FONT><FONT STYLE="font-family: inherit,serif">p</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">rocess
of reallocation of energy surpluses and deficits undertaken in accordance with the Regulated Contracting Environment &ndash; ACR
among the distribution agents that participate in CCEE.</FONT></P>

<P STYLE="font: 10pt/106% Georgia, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>MCSD-EN</I>:
The Mechanism for Compensation of Surpluses and Deficits of New Energy (<I>Mecanismo de Compensa&ccedil;&atilde;o de Sobras e D&eacute;ficits
de Energia Nova</I>), which allows distribution agents to offset </FONT><FONT STYLE="font-family: inherit,serif">amounts of electric
energy and power acquired in auctions of new generation projects, and allows the reduction of amounts contracted with generating
agents bound to new generation ventures.</FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Megawatt
(MW)</I>: One million watts.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Megawatt
hour (MWh)</I>: One megawatt of power supplied or demanded for one hour, or one million watt hours.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>MME</I>:
The Brazilian Ministry of Mines and Energy, or the Minist&eacute;rio de Minas e Energia.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>MRE</I>:
The Energy Reallocation Mechanism is a mechanism which attempts to mitigate the risks borne by hydroelectric generators due to
variations in river flows (hydrological risk).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>MVE</I>:
The Mechanism of Surplus Sales (<I>Mecanismo de Venda de Excedentes</I>), which allows distribution companies to sell energy surpluses
and, in the case of sales related to amounts within the regulatory limits or involuntary overcontracting, allows distribution companies
to revert the acquired benefit to consumers through tariff adjustments.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Non-Brazilian
Holder</I>: An individual, entity, trust or organization resident or domiciled outside Brazil for purposes of Brazilian taxation
that acquires, owns and disposes of Class B Shares or ADSs.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>ONS</I>:
The National Electric System Operator, or the <I>Operador Nacional do Sistema El&eacute;trico.</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>RAP or APR:
</I>Annual Permitted Revenues (or Receita Anual Permitida).</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Rationing
Program</I>: A program instituted by the Brazilian government to reduce electricity consumption, in effect from June 1, 2001 to
February 28, 2002, given it was a period of low rainfall in Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Real, Reais
or R$</I>: Brazilian <I>reais </I>(plural) and the Brazilian <I>real&nbsp;</I>(singular)<I>.</I></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Regulated
Market</I>: Market segment in which distribution companies purchase all the electricity needed to supply customers through public
auctions. The auction process is administered by ANEEL, either directly or through CCEE, under certain guidelines provided by the
MME. The regulated market is generally considered to be more stable in terms of supply of electricity.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Regulatory
Remuneration Base: </I>The aggregate amount of investments made by the distribution companies in connection with the services compensated
by tariffs charged to consumers (<I>Base de Remunera&ccedil;&atilde;o Regulat&oacute;ria</I>).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Reserve
Energy Auction: </I>mechanism for the contracting of reserve energy created to increase the security in the supplied of energy
by the National Interconnected System (SIN). The reserve auction acts as an insurance contracted by distributors to be used when
there is a mismatch between forecasted demand and supply. This modality of contracting is formalized through the conclusion of
the CER between the selling agents in the auctions and the CCEE.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Retail Tariff</I>:
Revenue charged by distribution companies to its customers. Each customer falls within a certain tariff level defined by law and
based on the customer&rsquo;s classification, although some flexibility is available according to the nature of each customer&rsquo;s
demand. Retails tariffs are subject to annual revision by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>RGR Fund</I>:
A reserve fund designed to provide compensatory payments to energy companies for certain assets used in connection with a concession
if the concession is revoked or is not renewed.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Sanepar</I>:
Companhia de Saneamento do Paran&aacute; <I>&ndash;</I> Sanepar.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0"><I>Securities
Act: </I>The United States Securities Act of 1933, as amended.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Securities
Exchange Act: </I>The United States Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Sercomtel
Telecomunica&ccedil;&otilde;es</I>: Sercomtel Telecomunica&ccedil;&otilde;es S.A.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>SHP &#8210;
Small Hydroelectric Plant</I>: Hydroelectric plants with generating capacity between 1,000 kW and 30,000 kW with a reservoir covering
an area equal to or less than 3.0 km<SUP>2</SUP>.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Special
Customers</I>: A group of customers that uses at least 500 kV. A Special Customer may choose its energy supplier if that supplier
derives its energy from alternative sources, such as small hydroelectric plants, wind plants or biomass plants.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Spot Market:
</I>Deregulated market segment in which electricity is bought or sold for immediate delivery. In general, prices of spot market
energy purchases tend to be substantially higher than the price of energy under long-term energy purchase agreements.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Substation</I>:
An assemblage of equipment, which switches and/or changes or regulates the voltage of electricity in a transmission and distribution
system.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Tax Haven
Holder:</I> A shareholder situated in tax haven jurisdictions (that is, a country or location that does not impose income tax or
where the maximum income tax rate is lower than 20% (or 17%, as the case may be) or where the local legislation imposes restrictions
on disclosing the shareholding composition or the ownership of the investment or the beneficial owner of the income derived from
transactions carried out and attributable to a Non-Brazilian Holder). The list of tax haven jurisdictions is currently provided
in Normative Ruling No. 1,037.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Thermoelectric
Power Plant or TPP</I>: A generating unit which uses combustible fuel, such as coal, oil, diesel natural gas or other hydrocarbon
as the source of energy to drive the electric generator.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>TJLP</I>:
The Long-Term Interest Rate, or the <I>Taxa de Juros a Longo Prazo</I>, the Brazilian federal government&rsquo;s long-term interest
rate.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Transmission</I>:
The bulk transfer of electricity from generating facilities to the distribution grid at load center station by means of the transmission
grid (in lines with capacity between 69 kV and 525 kV).</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Transmission
Tariff</I>: Revenue charged by a transmission concessionaire based on the transmission network it owns and operates. Transmission
tariffs are subject to periodic revisions by ANEEL.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>TUST</I>:
The tariff established by ANEEL for the use of the transmission system, which is the Interconnected Transmission System and its
ancillary facilities.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>U.S. Dollars,
dollars, or US$</I>: United States dollars.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>U.S. Holder</I>:
A beneficial holder of a Class B Share or an ADS that is (i) an individual citizen or resident of the United States of America,
(ii) a corporation, or any other entity taxable as a corporation, organized under the laws of the United States of America, any
state thereof, or the District of Columbia, or (iii) otherwise subject to U.S. federal income taxation on a net basis with respect
to the Class B Share or ADS.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Utility</I>:
An entity that is the holder of a concession or authorization to engage in the generation, transmission or distribution of electric
energy in Brazil.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Volt</I>:
The basic unit of electric force analogous to water pressure in pounds per square inch.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><I>Watt</I>:
The basic unit of electrical power.</P>


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<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_072"></A>Signatures</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 9.5pt; line-height: 106%">The
registrant hereby certifies that it meets all of the requirements for filing on Form 20-F/A and that it has duly caused and authorized
the undersigned to sign this annual report on its behalf</FONT>.</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 12pt 50%; text-align: justify; text-indent: 0.5in">&#9;<FONT STYLE="font-variant: small-caps"><B>Companhia
Paranaense De Energia &ndash; Copel</B></FONT></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 50%; text-align: justify; text-indent: 0.5in">&#9;By:<U>/s/ Daniel
Pimentel Slaviero &#9;</U></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 50%; text-align: justify; text-indent: 0.5in">Name: Daniel Pimentel
Slaviero</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 50%; text-align: justify; text-indent: 0.5in">Title: Chief Executive Officer</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 50%; text-align: justify; text-indent: 0.5in">By:
<U>/s/ Adriano Rudek de Moura &#9;</U></P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 50%; text-align: justify; text-indent: 0.5in">Name: Adriano Rudek
de Moura</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 0 50%; text-align: justify; text-indent: 0.5in">Title: Chief Financial and Investor
Relations Officer</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0">Date: November 19, 2020</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 60pt 0 0; background-color: white"><U>REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM</U></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 10pt 0 0; background-color: white">To the Shareholders and the Board

of Directors of</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0; background-color: white">Companhia Paranaense de Energia - Copel</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><U>Curitiba - PR - Brazil</U></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><B>Opinion on the financial statements</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">We have audited the accompanying
consolidated statements of financial position of Companhia Paranaense de Energia - Copel and subsidiaries (the &ldquo;Company&rdquo;)
as of December 31, 2019 and 2018, the related consolidated statements of income, comprehensive income, changes in equity, and cash
flows, for each of the three years in the period ended December 31, 2019, and the related notes (collectively referred to as the
&ldquo;financial statements&rdquo;). In our opinion, the financial statements present fairly, in all material respects, the financial
position of the Company as of December 31, 2019 and 2018, and the results of its operations and its cash flows for each of the
three years in the period ended December 31, 2019, in conformity with International Financial Reporting Standards - IFRS as issued
by the International Accounting Standards Board - IASB.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">We have also audited, in accordance
with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company&rsquo;s internal control
over financial reporting as of December 31, 2019, based on the criteria established in Internal Control - Integrated Framework
(2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated April 24, 2020, expressed
an adverse opinion on the Company&rsquo;s internal control over financial reporting because of material weaknesses.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><B>Basis for opinion</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">These financial statements are
the responsibility of the Company&rsquo;s Management. Our responsibility is to express an opinion on the Company&rsquo;s financial
statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with
respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities
and Exchange Commission - SEC and the PCAOB.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">We conducted our audits in accordance
with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing
procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing
procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and
disclosures in the financial statements.&nbsp;Our audits also&nbsp;included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0 0 10pt; background-color: white">&nbsp;</P>


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<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white"></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;<FONT STYLE="font-size: 1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><B>Emphasis of Matter</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">As discussed in Note 40.5 to the
financial statements, the Company has described the impacts of the coronavirus disease (COVID-19) on the operations of the business
and the uncertainties of related future impacts on the business, as well as the measures, both taken and planned, to deal with
these events and circumstances. Our opinion is not modified in respect of this matter.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><B>Critical audit matters</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">The critical audit matters communicated
below are matters arising from the current-period audit of the financial statements that were communicated or required to be communicated
to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved
our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any
way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below,
providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><B>Revenue recognition - Refer
to note 4.12 and note 31 to the financial statements</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><I>Critical audit matter description</I></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">The Company bills its residential,
industrial and commercial customers monthly. Unbilled revenues from the billing date to month-end are estimated based on the prior
month&rsquo;s billing and recognized as revenue at the end of the month in which the service was provided. The Company reads certain
of its individual customers&rsquo; meters systematically throughout the month in order to estimate how much energy was delivered
to individual customers. At the end of each month, the amount of energy delivered to each customer since their last meter reading
date is estimated and the corresponding unbilled revenue is determined based upon a customer&rsquo;s daily estimated usage by class
and applicable customer rates reflecting significant historical trends and experience. Differences between estimated and actual
unbilled revenues, which have historically been insignificant, are recognized in the following month.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">We identified Revenue Recognition
as a critical audit matter because of the complexity of certain of the Company&rsquo;s contracts and the judgments necessary to
audit revenue recognition, including the methods and assumptions used to estimate unbilled revenue, as well as the use of automated
systems to process and record revenue. Performing procedures to audit revenue required a high degree of auditor judgment and extensive
audit effort, including involvement of our information technology specialists.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><U>How the critical audit matter
was addressed in the audit</U></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">Our audit procedures on revenue
recognition included the following, among others:</P>




<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
tested the effectiveness of controls over revenue recognition, including management&rsquo;s controls over the measurement of energy
volumes and pricing, as well as controls over estimates of unbilled revenue.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">With
the assistance of our IT specialists, we:</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 6pt 36pt; text-indent: -18pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&ndash;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">Identified
the significant systems used to process revenue transactions and tested the general IT controls over each of these systems, including
testing of user access controls, change management controls, and IT operations controls.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 6pt 36pt; text-indent: -18pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&ndash;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">Performed
testing of system interface controls and automated controls within the relevant revenue streams, as well as the controls designed
to ensure the accuracy and completeness of revenue.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; background-color: white"><FONT STYLE="font: 13.5pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; background-color: white"><FONT STYLE="font: 13.5pt Times New Roman, Times, Serif"></FONT><FONT STYLE="font-size: 1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">With
respect to unbilled revenue, we:</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 6pt 36pt; text-indent: -18pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&ndash;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">Evaluated
the appropriateness and consistency of the methods and assumptions used by management to develop the estimates of unbilled revenue.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 6pt 36pt; text-indent: -18pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&ndash;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">Tested
the mathematical accuracy of Management&rsquo;s estimates of unbilled revenue.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 6pt 36pt; text-indent: -18pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&ndash;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
evaluated management&rsquo;s ability to estimate unbilled revenue accurately by comparing actual subsequent revenue with Management&rsquo;s
historical estimates for the related revenue streams.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">For
a sample of revenue transactions, we performed detail transaction testing by agreeing the amounts recognized to source documents,
testing the mathematical accuracy of the recorded revenue, and verifying subsequent cash receipts.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
assessed whether the disclosures made by Management in the financial statements are appropriate.</FONT></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0 0 10pt; background-color: white"></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><B>Impairment of long-lived assets
- Refer to note 4.10 and note 17.7 to the financial statements</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><I>Critical audit matter description</I></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">Long-lived assets, primarily property,
plant and equipment and intangible assets, comprise a significant amount of Company&rsquo;s total assets. Management evaluates
the long-lived assets and make judgments and estimates concerning the carrying value of these assets, including the amounts to
be capitalized, the depreciation/ amortization rates and useful lives of these long-lived assets. The carrying values of these
assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable.
An impairment loss is recorded in the period in which it is determined that the carrying amount is not recoverable. This requires
management to make long-term forecasts of future revenues and costs related to the assets subject for review. These forecasts
require assumptions about the demand for its products and services, future market conditions and regulatory developments. Significant
and unanticipated changes to these assumptions could require a provision for impairment in a future period.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">We identified Impairment of Long-Lived
Assets, specifically Property, Plant and Equipment, as a critical audit matter because of the significant estimates and assumptions
management makes to estimate the recoverable amount of Property, Plant and Equipment. This required a high degree of auditor judgment
and an increased extent of effort, including the need to involve our fair value specialists, when performing audit procedures to
evaluate the reasonableness of management&rsquo;s estimates and assumptions related to forecasts of future revenues, operating
margins and selection of the discount rates.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><U>How the critical audit matter
was addressed in the audit</U></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">Our audit procedures related to
impairment of long-lived assets included the following, among others:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
tested the effectiveness of controls over management&rsquo;s impairment evaluation of Property, Plant and Equipment, including
those over the identification of impairment indicators and the determination of the recoverable amount, such as controls related
to Management&rsquo;s forecasts, the selection of discount rates and mathematical accuracy of the models used by Management.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
evaluated the reasonableness of management&rsquo;s forecasts by considering (1) historical results, (2) contractual and market
conditions, including price and energy quantities, and (3) impact of changes in the regulatory environment.</FONT></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

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<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white"></P>

<P STYLE="font: 12pt Georgia, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white"></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;<FONT STYLE="font-size: 1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">With
the assistance of our fair value specialists, we evaluated the discount rates, including testing the underlying source information
and the mathematical accuracy of the calculations, and developing a range of independent estimates and comparing those to the discount
rates selected by management.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
assessed whether the disclosures made by Management in the financial statements are appropriate.</FONT></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><B>Property, plant and equipment
for energy Generation and Transmission and Telecommunication segments - Refer to note 4.8 and note 17 to the financial statements</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><I>Critical audit matter description</I></P>




<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">Management reviews the estimated
useful lives and the residual value of property, plant and equipment annually. After conducting a review on the useful lives of
the property, plant and equipment during this year, Management changed the accounting estimates of the useful lives of certain
equipment prospectively.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">We identified Property, Plant and
Equipment for Energy Generation and Transmission and Telecommunication segments as a critical audit matter because it requires
Management to exercise significant judgment in relation to the estimate of useful lives of the assets considering the nature, timing
and likelihood of changes which may affect the life expectancy of the assets and therefore could have a material impact on the
depreciation expense for the year. Additionally, the timing that Company transfers the items from assets in construction (in progress)
to assets in service impacts its depreciation.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><U>How the critical audit matter
was addressed in the audit</U></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">Our procedures in relation to the
useful lives of the property, plant and equipment included:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
tested the effectiveness of controls over property, plant and equipment, including controls over Management&rsquo;s review and
evaluation of estimated useful lives.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
evaluated Management&rsquo;s estimates of the useful lives of property, plant and equipment considering (1) consistency with the
economic benefits embodied in the respective assets and future operating plan forecasts, including planned acquisitions and retirements
of property, plant and equipment; and (2) historical experience and market development for the business, and (3) the basis, procedures
and rational to support changes in estimates.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
challenged the assumptions and critical judgements used by the Management by comparing the Management&rsquo;s past estimates and
plans with the current year&rsquo;s estimates and plans taking into account recent market and industry conditions.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
inquired internal technical engineers to understand changes is useful lives of assets.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">For
a sample of property, plant and equipment transactions, we performed detail transaction testing on additions and write-offs by
agreeing the amounts recognized to source documents.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
tested depreciation expense by developing an independent&nbsp;expectation&nbsp;of depreciation and comparing such expectation to&nbsp;recorded
amount.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
assessed whether the disclosures made by Management in the financial statements are appropriate.&nbsp;</FONT></P>


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<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><B>Provisions for legal claims
and contingent liabilities - Refer to note 4.11 and note 29 to the financial statements</B></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><I>Critical audit matter description</I></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">The Company is part in several
judicial and administrative proceedings before different courts. Based on assessments made by the Company&rsquo;s legal counsel,
Management makes provisions for legal claims in which losses are rated probable, thus meeting the criteria for recognition of provisioning.
The Company&rsquo;s Management believes that it is not practicable to provide information regarding the expected timing of any
cash outflows resulting from these lawsuits in which the Company and its subsidiaries are involved, due to the slow pace and unpredictability
of Brazilian legal, tax and regulatory systems, and since final resolution of the proceedings for which a provision has been registered
depends on the conclusions of court proceedings.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">We identified Provisions for Legal
Claims and Contingent Liabilities as a critical audit matter because of the large number of cases and the subjectivity of estimating
the likelihood and amount of potential losses. Performing audit procedures to evaluate whether legal claim provisions were appropriately
recorded and disclosed, required a high degree of auditor judgment and an increased extent of effort.</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white"><U>How the critical audit matter
was addressed in the audit</U></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 10pt; background-color: white">Our audit procedures related to
Provisions for Legal Claims and Contingent Liabilities included the following, among others:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
tested the effectiveness of controls related to provisions for legal claims and contingent liabilities, including those over the
completeness and review of new and outstanding legal matters, as well as controls over the measurement of potential losses.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">With
the assistance of our IT specialists, we tested the effectiveness of controls related to the computerized systems used by Management
to manage outstanding cases.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
tested the integrity and accuracy of the database used by Management to manage outstanding cases and used to determine loss probabilities
and measure potential losses.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
inquired internal and external legal counsel to understand developments in legal matters and progression in potential settlement
discussions.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
requested and received a written response from internal and external legal counsel as it relates lawsuits.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
read Board of Directors and Executive meeting minutes for evidence of unrecorded contingencies.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
evaluated the assumptions and judgements used by Management to estimate legal and other provisions, including corroborating the
assumptions with internal legal counsel, with the assistance of our tax and environmental specialists.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-indent: -14.2pt; background-color: white"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">&bull;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">We
evaluated the Company&rsquo;s disclosures for consistency with our knowledge of the Company&rsquo;s legal matters.</FONT></P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 0 0 30pt; background-color: white">April 24, 2020</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">/s/ DELOITTE TOUCHE TOHMATSU</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.65pt; padding-left: 5.65pt"><FONT STYLE="font: 10pt Verdana, Helvetica, Sans-Serif">Auditores Independentes - Curitiba, Brazil</FONT></TD></TR>
</TABLE>
<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 6pt 0 12pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Verdana, Helvetica, Sans-Serif; margin: 6pt 0 0; background-color: white">We have served as the Company&rsquo;s
auditor since 2016.</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 6pt 0 0; background-color: white">&nbsp;</P>

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<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 6pt 0 0; background-color: white"></P>

<P STYLE="font: 12pt Georgia, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white"></P>




<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>



<P STYLE="font: 14.5pt Arial, Helvetica, Sans-Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Companhia
Paranaense de Energia &ndash; Copel and Subsidiaries</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Consolidated
Financial Statements as of December 31, 2019 and 2018</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>and
for the years ended December 31, 2019, 2018 and 2017 and Report of</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Independent
Registered Public Accounting Firm</B></P>

<P STYLE="font: 8pt/16px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated
Statements of Financial Position</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>As of December
31, 2019 and 2018</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 63%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Note</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">2,941,727</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">1,948,409</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Bonds and securities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">6</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">3,112</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 124,862</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Collaterals and escrow accounts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 147</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 203</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Trade accounts receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">7</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">3,120,168</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">2,944,091</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Dividends receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 70,092</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 76,672</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;CRC transferred to the Paran&aacute; State Government</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">8</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 219,236</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 190,876</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Sectorial financial assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 355,570</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 421,184</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Accounts receivable - concessions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">10</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 58,842</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 53,177</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Contract assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">11</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 107,443</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 85,019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Other current receivables</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">12</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 426,865</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 363,250</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Inventories</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 130,442</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 116,285</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Income tax and social contribution receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;236,929</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 152,157</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Other current recoverable taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">13.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 205,060</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 160,842</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Prepaid expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">14</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 33,563</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 40,819</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>7,909,196</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>6,677,846</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>NONCURRENT ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Long Term Assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Bonds and securities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">6</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 278,969</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 219,434</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Other temporary investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 27,734</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 19,511</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Collaterals and escrow accounts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">21.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 98,433</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 89,555</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Trade accounts receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">7</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 62,399</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 162,915</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;CRC transferred to the Paran&aacute; State Government</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">8</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">1,131,449</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">1,254,166</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Judicial deposits&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">15</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 504,190</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 528,290</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Sectorial financial assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 118,419</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 257,635</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Accounts receivable - concessions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">10</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">2,558,796</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">2,497,514</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Contract assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">11</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">3,943,941</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">3,348,211</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Other noncurrent receivables</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">12</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 661,759</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 228,894</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Income tax and social contribution receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;142,532</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 166,384</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Deferred income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">13.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">1,011,866</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">1,007,061</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Other noncurrent recoverable taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">13.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 322,011</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 231,400</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Prepaid expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">14</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 132</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">3,290</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;10,862,630</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>10,014,260</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Investments</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">16</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>2,523,179</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>2,368,234</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Property, plant and equipment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">17</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;10,592,103</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>10,840,663</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Intangible assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">18</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>6,332,611</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>6,029,097</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Right-of-use asset</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">27</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; 92,831</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;30,403,354</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>29,252,254</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;38,312,550</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>35,930,100</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Notes are an integral part of these financial statements</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated&nbsp;<FONT STYLE="background-color: white">Statements
of Financial Position, continued</FONT></B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>As of December
31, 2019 and 2018</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 63%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: Black 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>Note</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Payroll, social charges and accruals</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">19</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337,044</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284,179</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Accounts payable to suppliers&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">20</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; 1,685,280</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,419,243</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Income tax and social contribution payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60,132</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 197,949</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other taxes due</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">13.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501,068</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451,433</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">21</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255,521</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,113,047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Debentures&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">22</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; 1,164,301</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,184,881</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Dividend payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 616,356</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375,675</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Post-employment benefits&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">23</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66,004</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58,478</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Sectorial charges due</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">24</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,508</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79,872</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Research and development and Energy efficiency</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">25</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375,395</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270,429</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Accounts payable related to concession&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">26</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73,032</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67,858</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Lease liability</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">27</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,573</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other accounts payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">28</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149,407</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192,070</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp; 5,345,621</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,695,114</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>NONCURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Accounts payable to suppliers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">20</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187,913</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49,956</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Deferred income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">13.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293,666</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157,420</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other taxes due</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">13.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662,114</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 796,732</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">21</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; 2,886,862</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,934,260</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Debentures&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">22</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; 7,265,409</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,333,250</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Post-employment benefits&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">23</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; 1,128,932</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910,285</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Research and development and Energy efficiency</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">25</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282,776</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322,306</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Accounts payable related to concession&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">26</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 539,555</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 516,305</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Sectorial financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102,284</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96,531</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Lease liability</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">27</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63,031</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other accounts payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">28</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349,462</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116,954</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Provisions for legal claims</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">29</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; 1,606,713</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,664,773</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 15,368,717</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp; 12,898,772</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>EQUITY</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>Attributable to controlling shareholders</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Capital</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">30.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 10,800,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,910,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Equity valuation adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 591,927</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785,610</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Legal reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; 1,014,248</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 914,751</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Profit retention reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; 4,846,239</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,422,564</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 17,252,414</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp; 16,032,925</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>Attributable to non-controlling interests</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">16.2.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345,798</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303,289</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 17,598,212</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp; 16,336,214</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp;TOTAL LIABILITIES &amp; EQUITY</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 38,312,550</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp; 35,930,100</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Notes are an integral part of these financial statements</B></FONT></TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated&nbsp;<FONT STYLE="background-color: white">Statements
of Income</FONT></B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>As of December
31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 59%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>Note</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>NET OPERATING REVENUE</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">31</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; 16,244,274</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; 14,934,780</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 14,024,573</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>OPERATING COSTS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">32</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; (11,760,176)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; (11,501,688)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; (10,665,890)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>GROSS PROFIT</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,484,098</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,433,092</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; 3,358,683</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>Operational expenses / income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Selling expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">32</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (207,059)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (148,709)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; (169,050)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;General and administrative expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">32</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (734,300)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (723,534)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; (685,675)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Other operational income (expenses)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">32</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (458,815)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (302,690)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; (464,316)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Equity in earnings of investees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">16</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 106,757</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 135,888</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 101,739</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; (1,293,417)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; (1,039,045)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; &nbsp;(1,217,302)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>PROFIT BEFORE FINANCIAL RESULTS AND TAXES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,190,681</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,394,047</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; 2,141,381</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>Financial results</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">33</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Financial income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 750,241</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 813,915</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 699,310</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Financial expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (1,238,727)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (1,251,965)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; (1,447,750)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; (488,486)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; (438,050)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; (748,440)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>OPERATING PROFIT</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,702,195</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,955,997</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; 1,392,941</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>INCOME TAX AND SOCIAL CONTRIBUTION</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">13.3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Current</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (433,555)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (580,065)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; (379,943)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Deferred</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; (205,771)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 68,072</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 105,257</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; (639,326)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; (511,993)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; (274,686)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>NET INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,062,869</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,444,004</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; 1,118,255</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Attributed to controlling shareholders</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 1,989,946</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 1,407,063</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 1,033,626</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Attributed to non-controlling interest</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">16.2.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 72,923</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 36,941</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 84,629</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>BASIC AND DILUTED NET EARNING PER SHARE ATTRIBUTED TO</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;CONTROLLING SHAREHOLDERS - Expressed in Brazilian Reais</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">30.3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Common shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 6.94344</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 4.91091</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;&nbsp;3.60754</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Class "A" Preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 9.11525</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 5.40201</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 3.96830</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Class "B" Preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 7.63812</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 5.40201</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 3.96830</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>Notes are an integral part of these financial statements</B></FONT></TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated
Statements of Comprehensive Income</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 59%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>Note</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>12.31.2017</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>NET INCOME</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; 2,062,869</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>1,444,004</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>1,118,255</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;Other comprehensive income</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;Items that will never be reclassified to profit or loss</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: 18pt">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: 18pt">&nbsp;Gain (losses) on actuarial liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 20pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; Post employment benefits</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; (186,628)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">(58,354)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">(46,506)</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">Taxes on other comprehensive income</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 63,444</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 19,994</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 16,827</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;Items that may be reclassified to profit or loss</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: 18pt">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">Adjustments related to financial assets&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 26,138</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">Taxes on other comprehensive income</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; (8,888)</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">Realization - gain on financial assets, net of tax</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">(18,909)</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;Total comprehensive income, net of taxes</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp;&nbsp; (123,184)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>(38,360)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>(31,338)</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>TOTAL COMPREHENSIVE INCOME</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>&nbsp; 1,939,685</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>1,405,644</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>1,086,917</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Attributed to controlling shareholders</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp; 1,862,489</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">1,368,549</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">1,002,411</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;Attributed to non-controlling interest</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 77,196</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 37,095</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt">&nbsp;&nbsp; 84,506</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>Notes are an integral part of these financial statements</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated
Statements of Changes in Equity</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Attributable to controlling shareholders</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Equity valuation adjustments</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Profit reserves</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Attributable</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Profit</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>to non -</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Deemed</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Other comprehensive</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Legal</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>retention</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Accumulated</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Shareholders&rsquo;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>controlling</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Equity</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Note</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Capital</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>reserve</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>reserve</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>profit</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;equity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>interests</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Consolidated</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Balance as of January 1, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,910,000</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 944,956</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 53,510</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>792,716</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 5,016,916</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 14,718,098</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 260,444</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>14,978,142</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Net Income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 1,033,626</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 1,033,626</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 84,629</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 1,118,255</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Gain on financial assets, net of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 17,250</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 17,250</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">17,250</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Actuarial losses, net of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (29,556)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (29,556)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (123)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (29,679)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Realization - gain on financial assets, net of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (18,909)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (18,909)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (18,909)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; (31,215)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,033,626</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 1,002,411</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 84,506</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,086,917</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Realization - deemed cost, net of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (71,650)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">71,650</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Deliberation of additional dividends proposed</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">16.2.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(11,053)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (11,053)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Approval of additional dividends in accordance with the 62nd Annual General Meeting</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">16.2.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(223,266)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (223,266)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(223,266)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Allocation proposed to GSM:</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Legal reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 51,682</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (51,682)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Interest on ow n capital</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(266,000)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (266,000)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(266,000)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (23,401)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (23,401)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(30,836)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (54,237)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Profit retention reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 764,193</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(764,193)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Balance as of December 31, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,910,000</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 873,306</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 22,295</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>844,398</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 5,557,843</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 15,207,842</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 302,661</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>15,510,503</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Adjustments arising from the adoption of IFRS 15 and IFRS 9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(4,391)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(160,533)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (164,924)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(164,924)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Transfres to profit retention reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(160,533)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 160,533</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,910,000</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 873,306</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 17,904</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>844,398</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 5,397,310</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 15,042,918</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 302,661</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>15,345,579</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Net Income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 1,407,063</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 1,407,063</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 36,941</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 1,444,004</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Actuarial gain (losses), net of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (38,514)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (38,514)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">154</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (38,360)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; (38,514)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,407,063</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 1,368,549</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 37,095</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp;&nbsp;1,405,644</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Realization - deemed cost, net of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (67,086)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">67,086</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Allocation proposed to GSM:</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Legal reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 70,353</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (70,353)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Interest on ow n capital</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: 18pt">30.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(280,000)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (280,000)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(280,000)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: 18pt">30.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (98,542)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (98,542)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(36,467)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(135,009)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Profit retention reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 1,025,254</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(1,025,254)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,910,000</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 806,220</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; (20,610)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>914,751</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 6,422,564</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 16,032,925</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 303,289</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>16,336,214</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Net Income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 1,989,946</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 1,989,946</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 72,923</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 2,062,869</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Actuarial gain (losses), net of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;(122,583)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (122,583)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (601)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(123,184)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Gain (loss) with interest variation in Subsidiary</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(4,874)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(4,874)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">4,874</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; (127,457)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,989,946</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 1,862,489</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 77,196</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,939,685</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Realization - deemed cost, net of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(66,226)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">66,226</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Capital increase</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 2,890,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;(2,890,000)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Deliberation of additional dividends proposed</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">16.2.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (3,335)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (3,335)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">16.2.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (7,838)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; (7,838)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: 18pt">Allocation proposed to GSM:</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Legal reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 99,497</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (99,497)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Interest on ow n capital</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(643,000)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (643,000)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(643,000)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">30.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(23,514)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; (23,514)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;Profit retention reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 1,313,675</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">(1,313,675)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;10,800,000</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 739,994</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; (148,067)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;1,014,248</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 4,846,239</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 17,252,414</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 345,798</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>17,598,212</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="11" STYLE="white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Notes are an integral part of these financial statements</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated
Statements of Changes in Equity</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;Note</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;CASH FLOWS FROM OPERATIONAL ACTIVITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;Net income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;2,062,869</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,444,004</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 1,118,255</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;Adjustments to reconcile net income for the period with cash</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Unrealized monetary and cambial variation and debt charges - net</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 815,061</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 767,751</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 900,610</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Interest - bonus from the grant of concession agreements under the quota system</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">10.3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (91,404)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (85,986)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (82,160)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Remuneration of transmission concession contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">10.4 and 11.3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(501,566)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(351,544)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (490,925)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Result of the adoption of the Special Tax Regularization Program</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (154,197)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Recovery of PIS / Pasep and Cofins on ICMS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">13.2.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (105,184)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">13.3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 433,555</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 580,065</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 379,943</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Deferred income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">13.3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 205,771</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (68,072)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(105,257)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Equity in earnings of investees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">16.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(106,757)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(135,888)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (101,739)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Appropriation of acturial calculation of post-employment benefits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">23.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">99,578</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">97,900</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 97,511</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Appropriation of pension and healthcare contributions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">23.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 138,974</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">151,215</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 153,069</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Creation for research and development and energy efficiency programs</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">25.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 130,678</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 125,369</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 118,753</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Recognition of fair value&nbsp; of assets related to concession compensation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">31</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (36,646)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (47,499)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (57,080)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Sectorial financial assets and liabilities result</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">31</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (25,057)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (985,344)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (767,040)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Depreciation and amortization</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">32</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,093,836</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 749,179</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 731,599</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Net operating estimated losses, provisions and reversals</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">32.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 374,815</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 306,697</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 365,539</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Result of business combination carried out with asset swap - gain</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">1,414</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3,769</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Realization of added value in business combinations</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">1,536</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Result of disposal of investment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (8,174)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (28,650)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Fair value in energy purchase and sale operations in the active market</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">31</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (204,876)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(3,786)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Impairment of accounts receivable related to concession&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">10.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">146</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">1,536</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loss on disposal of contract assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">11.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 7,949</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,762</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loss on disposal of property, plant and equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">17</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 158,084</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">68,450</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">64,508</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loss on disposal of intangible assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">18.1 and 18.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">26,789</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">28,742</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">42,740</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Result of write-offs of use rights of assets and liabilities of leases - net</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">27.1 and 27.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(31)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;4,479,534</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;2,648,146</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;2,185,496</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;Decrease (increase) in assets&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Trade accounts receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 225,624</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 191,113</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(322,814)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Dividends and interest on own capital received&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">36,732</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">50,858</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">44,334</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;CRC transferred to the Government of the State of Paran&aacute;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">8.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 278,586</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 260,117</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">97,085</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Judicial deposits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">46,300</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">87,853</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">96,028</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Sectorial financial assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">9.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 277,265</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 482,974</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other receivables&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(55,191)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 17,292</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (44,193)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Inventories</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (14,220)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(5,726)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">20,078</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (60,904)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 360,855</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 146,602</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other current taxes recoverable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (13,338)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (74,003)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">87,884</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Prepaid expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 10,414</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 8,520</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 12,128</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(667)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>731,268</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,379,853</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>136,465</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;Increase (decrease) in liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Payroll, social charges and accruals</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">52,792</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (29,845)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 26,170</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (59)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Suppliers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 255,534</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (572,306)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 275,370</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(132,330)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">75,234</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">24,795</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Post-employment benefits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">23.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(199,007)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (204,809)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (200,848)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Sectorial charges due</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (51,442)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (70,507)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">8,313</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Research and development and energy efficiency&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">25.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (91,306)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(91,015)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (104,512)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Payable related to the concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">26.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (70,569)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (64,365)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (65,871)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Accounts payable linked to the concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 419,220</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other accounts payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (51,484)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 103,464</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (101,062)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Provisions for legal claims&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">29.1.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (367,548)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (144,171)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(124,395)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; (655,360)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; (998,379)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 157,180</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;CASH GENERATED FROM OPERATING ACTIVITIES&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;4,555,442</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;3,029,620</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 2,479,141</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Income tax and social contribution paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(575,210)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (468,552)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (335,087)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loans and financing - interest due and paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">21.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (325,977)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (289,095)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (532,033)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Debentures - interest due and paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">22.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (700,119)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(501,002)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(622,815)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Charges for lease liabilities paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">27.2.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (9,130)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;NET CASH GENERATED FROM OPERATING ACTIVITIES&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;2,945,006</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 1,770,971</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>989,206</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;(continued)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated
Statements of Changes in Equity</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 59%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;Note</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #000000; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;CASH FLOWS FROM INVESTMENT ACTIVITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Financial investments&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">45,170</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (75,804)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">48,512</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loans and financing granted to related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (5,145)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Receipt of loans and financing granted to related parties&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 117,645</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">24,985</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Additions to contract assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(1,042,093)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (792,835)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Customers contributions - contract assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 104,067</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 106,764</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Acquisitions of subsidiaries - effect on cash</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">1.2.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(123,794)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 7,998</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Investment disposal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 484,608</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Additions in investments&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">16.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(133,874)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (51,557)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (248,243)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Capital reduction of investees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">16.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">35,035</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">35,280</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Additions to property, plant and equipment&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(543,130)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(1,489,067)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(1,205,508)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Customers contributions - property, plant and equipment&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 12</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Additions to intangible assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(5,032)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(7,589)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (806,240)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Customers contributions - intangible assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 125,858</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;NET CASH (USED IN) GENERATED FROM INVESTING ACTIVITIES&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; (1,663,651)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; (2,149,153)</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (1,581,173)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;CASH FLOWS FROM FINANCING ACTIVITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loans and financing obtained from third parties&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">21.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 796,296</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,314,766</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 800,044</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Issue of Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">22.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 2,965,028</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 2,890,283</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 2,242,521</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Payments of principal - loans and financing&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">21.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(1,660,869)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (1,126,144)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(971,187)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Payments of principal - debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">22.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(1,977,125)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(1,491,667)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(915,005)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Amortization of principal of lease liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">27.2.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (30,946)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Dividends and interest on own capital paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(380,421)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (300,722)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (506,404)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;NET CASH GENERATED FROM FINANCING ACTIVITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>(288,037)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>1,286,516</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 649,969</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;TOTAL EFFECTS ON CASH AND CASH EQUIVALENTS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 993,318</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 908,334</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>58,002</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Cash and cash equivalents at the beginning of the period</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 1,948,409</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 1,040,075</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 982,073</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Cash and cash equivalents at the end of the period</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 2,941,727</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 1,948,409</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 1,040,075</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;CHANGE IN CASH AND CASH EQUIVALENTS&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 993,318</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 908,334</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>58,002</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #000000; line-height: normal">Notes are an integral part of these financial statements.</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated
Statements of Cash Flows</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>1</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Operations</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Companhia
Paranaense de Energia (Copel or Company), with its head office located at Rua Coronel Dulc&iacute;dio, 800, Curitiba - State of
Paran&aacute;, is a publicly-held mixed capital company controlled by the State of Paran&aacute; and its shares are traded at Corporate
Governance Level 1 of the Special Listing Segments of B3 S.A. - Brasil, Bolsa Balc&atilde;o Stock Exchange and also on the New
York Stock Exchange (NYSE) and on the Madrid Stock Exchange, in the Latin American segment (Latibex).</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
core activities of Copel, which are regulated by the Brazilian Electricity Regulatory Agency (ANEEL), linked to the Brazilian Ministry
of Mines and Energy (MME), are to carry out research, study, planning, and asset building activities related to the generation,
transformation, distribution and trading of energy in any of its forms, primarily electricity. Furthermore, Copel participates
in consortiums and in private sector and mixed-capital companies for the purpose of engaging in activities, primarily in the fields
of energy, telecommunications and natural gas<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>1.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Copel&rsquo;s
equity interests</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Copel
has direct and indirect interests in subsidiaries (1.1.1), joint ventures (1.1.2), associates (1.1.3) and joint operations (1.1.4<FONT STYLE="color: black">).</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
changes in relation to equity interests as of December 31, 2018 were the business combination presented in Note 1.2 and the setting
up of the following Special Purpose Entities (SPE):</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">F.D.A.
Gera&ccedil;&atilde;o de Energia El&eacute;trica S.A.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Entities
that are a part of Jandira Wind Complex</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
addition, there was dilution of the equity interest of UEG Arauc&aacute;ria and Copel&rsquo;s equity interest changed from 20%
to 20.3% and that of Copel GeT from 60% to 60.9%, with a consequent reduction in non-controlling interests to 18.8%.</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated
Statements of Cash Flows</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.1.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Subsidiaries</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 18%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Headquarters</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Main activity</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Interest</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Subsidiaries</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Investor</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o S.A. (Copel GeT)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production and transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Copel Distribui&ccedil;&atilde;o S.A. (Copel DIS)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Distribution and marketing of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Copel Telecomunica&ccedil;&otilde;es S.A. (Copel TEL)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Telecommunication and communication</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Copel Renov&aacute;veis S.A. (Copel REN) (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Control and management of interests</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Copel Comercializa&ccedil;&atilde;o S.A. (Copel Energia)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Commercialization of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Companhia Paranaense de G&aacute;s - Compag&aacute;s</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Distribution of pipeline gas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Elejor - Centrais El&eacute;tricas do Rio Jord&atilde;o S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">UEG Arauc&aacute;ria Ltda. (UEG)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from natural gas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20.3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60.9</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento Energia, Investimentos e</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp; Participa&ccedil;&otilde;es S.A. (S&atilde;o Bento)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Control and management of interests</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Nova Asa Branca I Energias Renov&aacute;veis S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S. Miguel do Gostoso/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Nova Asa Branca II Energias Renov&aacute;veis S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Parazinho/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Nova Asa Branca III Energias Renov&aacute;veis S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Parazinho/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Nova Eurus IV Energias Renov&aacute;veis S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Touros/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Santa Maria Energias Renov&aacute;veis S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Maracana&uacute;/CE</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Santa Helena Energias Renov&aacute;veis S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Maracana&uacute;/CE</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ventos de Santo Uriel S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Jo&atilde;o C&acirc;mara/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Cutia Empreendimentos E&oacute;licos S.A. (Cutia)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Control and management of interests</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Costa Oeste Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Marumbi Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Uirapuru Transmissora de Energia S.A&nbsp; (Note 1.2.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Florian&oacute;polis</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Bela Vista Gera&ccedil;&atilde;o de Energia S.A. (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">F.D.A. Gera&ccedil;&atilde;o de Energia El&eacute;trica S.A. (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Janda&iacute;ra I Energias Renov&aacute;veis S.A. (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Janda&iacute;ra II Energias Renov&aacute;veis S.A. (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Janda&iacute;ra III Energias Renov&aacute;veis S.A. (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Janda&iacute;ra IV Energias Renov&aacute;veis S.A. (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">GE Olho D&rsquo;&Aacute;gua S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;S&atilde;o Bento</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">GE Boa Vista S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;S&atilde;o Bento</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">GE Farol S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;S&atilde;o Bento</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">GE S&atilde;o Bento do Norte S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;S&atilde;o Bento</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Central Geradora E&oacute;lica S&atilde;o Bento do Norte I S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Central Geradora E&oacute;lica S&atilde;o Bento do Norte II S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Central Geradora E&oacute;lica S&atilde;o Bento do Norte III S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Central Geradora E&oacute;lica S&atilde;o Miguel I S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Central Geradora E&oacute;lica S&atilde;o Miguel II S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Central Geradora E&oacute;lica S&atilde;o Miguel III S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Guajiru S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Jangada S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Potiguar S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Cutia S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Maria Helena S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Esperan&ccedil;a do Nordeste S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Para&iacute;so dos Ventos do Nordeste S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte/RN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Production of electricity from wind sources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 100.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Cutia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(a)&nbsp;The company is studying the possible incorporation of the operational activities and version of Copel RENs equity for the shareholder or the change of main activity.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(b) Pre-operating stage.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(c) SPEs established with a 99.99% interest in Copel GeT and 0.1% in Cutia. The transfer of all shares to Copel GeT depends on the granting of Authorizations by Aneel and the signing of the Energy Commercialization Contracts in the Regulated Environment - CCEARs</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Consolidated
Statements of Cash Flows, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.1.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Joint
Ventures</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Joint ventures</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Headquarters</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Main activity</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1.5pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Interest</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Investor</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Voltalia S&atilde;o Miguel do Gostoso I Participa&ccedil;&otilde;es S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">S&atilde;o Paulo/SP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Interests in companies</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Paran&aacute; G&aacute;s Explora&ccedil;&atilde;o e Produ&ccedil;&atilde;o S.A. (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Exploration of natural gas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 30.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Caiu&aacute; Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Rio de Janeiro/RJ</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Integra&ccedil;&atilde;o Maranhense Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Rio de Janeiro/RJ</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Matrinch&atilde; Transmissora de Energia (TP NORTE) S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Rio de Janeiro/RJ</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Guaraciaba Transmissora de Energia (TP SUL) S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Rio de Janeiro/RJ</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Parana&iacute;ba Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Rio de Janeiro/RJ</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 24.5</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Mata de Santa Genebra Transmiss&atilde;o S.A. (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Rio de Janeiro/RJ</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 50.1</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Cantareira Transmissora de Energia S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Rio de Janeiro/RJ</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(a) Project with halted activities due to a Public Civil Action pending judgment by Federal Court. An arbitration proceeding will be started to decide about relief of&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">contractual obligations with no burden for bidders, with consequent return of signing up bonus, refund of incurred costs with collateral and relief of collateral&nbsp;provided.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(b) Pre-operating stage.</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.1.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Associates</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 56%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Associated companies</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Headquarters</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Main activity</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Interest</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Investor</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Dona Francisca Energ&eacute;tica S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Agudo/RS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Production of electricity</FONT></TD>

    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 23.0303</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Copel&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Foz do Chopim Energ&eacute;tica Ltda.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Production of electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">35.77</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Copel GeT</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Carbocampel S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Figueira/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Coal exploration</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 49.0</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Copel&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Copel Amec S/C Ltda. - in liquidation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Services</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 48.0</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Copel&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Sercomtel S.A. Telecomunica&ccedil;&otilde;es (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Londrina/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Telecommunications</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 45.0</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Copel&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Domin&oacute; Holdings Ltda.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Curitiba/PR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Interests in companies</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 49.0</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Copel Energia</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Esta&ccedil;&atilde;o Osasco Desenvolvimento Imobili&aacute;rio S.A. (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">S&atilde;o Paulo/SP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Incorporation of real estate projects</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 18.78</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;UEG</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) Investment reduced to zero due to the impairment tests.</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(b) Pre-operating stage.</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.1.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Joint
Operations (consortiums)</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 39%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 48%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Joint operations</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Interest (%)<BR>Copel GeT</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Other consortium members</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Hydroelectric Power Plant Gov. Jayme Canet J&uacute;nior - Mau&aacute; (Note 17.5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">51.0</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Eletrosul Centrais El&eacute;tricas S.A. (49%)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Hydroelectric Power Plant Baixo Igua&ccedil;u (Note 17.5.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">30.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Gera&ccedil;&atilde;o C&eacute;u Azul S.A (subsidiary of Neoenergia S.A.) (70%)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>1.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Business
combination</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Subsidiary
acquired - Uirapuru</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
March 2019, Copel GeT signed a Share Purchase and Sale Agreement - CCVA with Centrais El&eacute;tricas Brasileiras S.A. - Eletrobr&aacute;s
and Funda&ccedil;&atilde;o Eletrosul de Previd&ecirc;ncia e Assist&ecirc;ncia Social - ELOS for the transfer of 100% of the shares
of SPE Uirapuru Transmissora de Energia S.A., subject to approval by the Brazilian Electricity Regulatory Agency - ANEEL and the
Administrative Council for Economic Defense - CADE. After fulfilling the determinants, on June 28, 2019 Copel GeT took control
of the company. SPE Uirapuru operates the Transmission Concession Agreement No. 002/2005, which corresponds to the Transmission
Line between the municipalities of Ivaipor&atilde; and Londrina, consisting of 120 km of 525 kV transmission line, of which the
commercial operation started on July 9, 2006. The acquisition of this venture will generate synergy in the use of resources for
operation and maintenance, providing dilution of operating costs for the group.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Consideration
transferred</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
business combination occurred with the payment of R$ 133,739, corresponding to 100% of SPE Uirapuru shares, of which R$ 142 was
paid in December 2018 and R$ 133,597 during the first half of 2019. Considering the cash acquired from the subsidiary, in the amount
of R$ 9,803, we have a net cash effect for the Company of R$ 123,936 (R$ 142 in 2018 and R$ 123,794 in 2019). The amount paid is
supported by estimated discounted cash flows from operating activities of the acquired venture.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
the acquisition process, the fair values of the assets and liabilities acquired were identified and allocated to the investment,
and the amount of concession rights was allocated to the investment in Copel GeT's balance sheet and intangible assets in the consolidated
balance sheet.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
concession right generated by the business combination mainly consists of expected synergies and economies of scale and will be
amortized over the remaining concession period, which will expire on March 4, 2035.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 74%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 26%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;Consideration transferred</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Assets (-)<BR>liabilities,<BR>Acquired&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value on 06.28.2019</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">113,709</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Percentage of interest transferred</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">100%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Consideration amount</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>133,739</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Concession rights</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 20,030</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.2.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Assets
acquired and liabilities assumed recognized on the date of acquisition</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Copel GeT preliminarily measured the
fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition, as follows.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Fair value at the</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Carrying amount</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>acquisition date</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Assets identified</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>146,802</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>144,593</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,803</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 9,803</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Trade accounts receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,921</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2,921</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Taxes recoverable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 17</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 17</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Contract assets (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">133,010</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">120,213</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other receivables</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,051</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,051</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Deferred taxes&nbsp; - business combination</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 10,588</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Liabilities assumed</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 12,540</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 30,884</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Suppliers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,115</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 6,115</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payroll, social charges and accruals</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 73</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 73</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Taxes due</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">320</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 320</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Sectorial charges due</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,572</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,572</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: 18pt">Deferred taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,097</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 4,097</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Contingent liabilities - business combination</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 18,344</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Others liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">363</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 363</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Net assets acquired</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>134,262</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>113,709</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) The book value of contract assets disclosed by the acquired subsidiary was adjusted pursuant to the Company's&nbsp;practices before allocation of fair value in the business combination.</FONT></TD></TR>
</TABLE>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.2.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Impact
of the acquisitions on the consolidated results</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Had
this business combination been completed on January 1, 2019, consolidated net operating revenue would have increased by R$ 10,792,
totaling R$ 16,255,066 and the consolidated net income for the year would have increased by R$ 7,682, totaling R$ 2,070,551. Management
considers these&nbsp;<I>pro forma</I>&nbsp;amounts represent an approximate measure of consolidated performance and serve as a
reference for comparison in future years.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">1.2.5</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Conclusion
of business combination - Costa Oeste e Marumbi</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
June 4, 2019, the Company concluded the business combination involving subsidiaries Costa Oeste and Marumbi, disclosed in the
Financial Statements as at December 31, 2018, without determining any relevant differences from the preliminarily calculated values.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>2</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Concessions
and Authorizations</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>2.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Concession
contracts or authorizations obtained by Copel</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 52%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Copel</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Interest %</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Maturity</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Concession agreement / authorization of the equity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Copel DIS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Contract 046/1999, extended by 5th addendum to the contract</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;07.07.2045</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Copel TEL</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Authorization term 54/2003 - Anatel/SVP/PVST</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Indeterminate</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Authorization term 305/2012 - Anatel/SVP/PVST</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;Indeterminate</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Elejor</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Contract 125/2001 - HPP Fund&atilde;o and Santa Clara</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">70</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.28.2037</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Authorization - SHP Fund&atilde;o I and SHP Santa Clara I - 753/2002 and 757/2002</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">70</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;12.19.2032</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dona Francisca Energ&eacute;tica</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Contract 188/1998 - HPP Dona Francisca</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">23</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;08.28.2033</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">UEG Arauc&aacute;ria</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Authorization 351/1999&nbsp; - TPP Arauc&aacute;ria (60.9% Copel GET)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">20.3</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;12.23.2029</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Compag&aacute;s (2.1.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Concession gas distribution contract</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">51</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;01.20.2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Paran&aacute; G&aacute;s (1.1.2 - a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">PART-T-300_R12 4861-.0000.99/2014-00 - ANP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">30</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.15.2045</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica S&atilde;o Jo&atilde;o S.A. (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">MME Ordinance 173/2012 - WPP S&atilde;o Jo&atilde;o</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;03.26.2047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Carna&uacute;ba S.A. (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">MME Ordinance 204/2012 - WPP Carna&uacute;bas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;04.09.2047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Reduto S.A. (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">MME Ordinance 230/2012 - WPP Reduto</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;04.16.2047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Santo Cristo S.A. (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">MME Ordinance 233/2012 - WPP Santo Cristo</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;04.18.2047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(a) Subsidiaries of Voltalia S&atilde;o Miguel do Gostoso I Participa&ccedil;&otilde;es S.A.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Hydroelectric Power Plant - HPP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Small Hydroelectric Plant - SHP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Thermal Power Plant - TPP</FONT></TD></TR>
<TR STYLE="vertical-align: top">

    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Wind Power Plant - WPP</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">2.1.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Compag&aacute;s</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Compag&aacute;s
is a party to a concession agreement entered with the Concession Grantor, the State of Paran&aacute;, setting July 6, 2024 as the
expiration date of the concession.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
December 7, 2017, the State of Paran&aacute; published Complementary Law 205, introducing a new interpretation to the end of the
concession, understanding that expiration occurred on January 20, 2019. Considering that until this date there was no extension/bidding
of the concession, the law provides that the concession operator may, after the expiration of the term, remain responsible for
its performance until the assumption of the new concession operator, subject to the conditions established.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Management of Compag&aacute;s are challenging the effects of the aforesaid law since they understand that it conflicts with the
provisions of the concession agreement currently in force. Compag&aacute;s filed a lawsuit challenging the early termination of
the concession and, on October 30, 2018, a preliminary injunction was granted. The Company is awaiting the trial on merit of the
case.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Considering
that the lawsuit continues outstanding and the law continues in force, it was necessary to consider these effects in this&nbsp;financial
statements. The impacts recorded are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>End of<BR>concession in 2024</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Adjustments</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>End of<BR>concession in 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>STATEMENTS OF FINANCIAL POSITION</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Accounts receivable related to the concession</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 144,813</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-left: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 179,572</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 324,385</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Intangible assets</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">127,598</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-left: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(127,598)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>STATEMENTS OF INCOME</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-left: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Net operating revenue</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-left: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Fair value of assets from the indemnity for the concession</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,181</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-left: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,234</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">10,415</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Operating Costs</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-left: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Amortization</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(28,854)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid; border-left: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 400</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(28,454)</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>End of<BR>concession in 2024</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Adjustments</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>End of<BR>concession in 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENTS OF FINANCIAL POSITION</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts receivable related to the concession and Contract Assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;148,720</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;199,257</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;347,977</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Intangible assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;152,538</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;(148,919)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;3,619</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENTS OF INCOME</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Net operating revenue</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Fair value of assets from the indemnity for the concession</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;9,184</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;3,009</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;12,193</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Operating Costs</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Amortization</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;(29,012)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;6,253</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;(22,759)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>End of<BR>concession in 2024</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>End of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Adjustments</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>concession in 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENTS OF FINANCIAL POSITION</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts receivable related to the concession</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;148,868</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;154,800</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;303,668</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Intangible assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;198,688</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;(154,800)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;43,888</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENTS OF INCOME</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Net operating revenue</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Fair value of assets from the indemnity for the concession</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;(197)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;41,078</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;40,881</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Management
will continue to make its best efforts to protect the Company's interests, aiming at appropriately settle the impacts of the new
interpretation given by the Concession Grantor and looking for the necessary alternatives to maintain the concession in a sustainable
manner.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>2.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Concession
contracts or authorizations obtained by Copel Get and its investees</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Copel GeT</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-style: solid; border-top-width: 1.5pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Interest %</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Maturity</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>ONEROUS CONCESSION BY THE USE OF PUBLIC PROPERTY&nbsp; - UBP</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Generation Concession 001/2007 - HPP Gov. Jayme Canet J&uacute;nior (Mau&aacute;)</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">51</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;07.02.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Generation concession 001/2011 - HPP Col&iacute;der</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;01.17.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Ordinance 133/2011 - SHP Cavernoso II</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;02.28.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Generation Concession 002/2012 - HPP Baixo Igua&ccedil;u</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">30</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;10.30.2049</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Generation Concession 007/2013</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP Apucaraninha</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;10.12.2025</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP Chamin&eacute;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;08.16.2026</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP Deriva&ccedil;&atilde;o do Rio Jord&atilde;o</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;11.15.2029</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP Cavernoso</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;01.07.2031</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>PUBLIC SERVICE CONCESSIONS</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Generation concession 045/1999</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">TPP Figueira (Note 35.2.6)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;03.27.2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP Gov. Bento Munhoz da Rocha Neto (Foz do Areia) (Note 35.2.6)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;09.17.2023</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP S&atilde;o Jorge</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;12.05.2024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP Guaricana</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;08.16.2026</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP Gov. Ney Aminthas de Barros Braga (Segredo)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;11.16.2029</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">HPP Gov. Jos&eacute; Richa (Salto Caxias)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;05.05.2030</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>

    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Authorization 278/1999 - WPP Palmas</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;09.29.2029</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Dispatch 182/2002 - Hydroeletric Generating Plant - HGP Melissa, HGP Pitangui and HGP Salto do Vau&nbsp; (only register with ANEEL)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Generation concession 002/2016 - HPP Gov. Pedro Viriato Parigot de Souza (GPS)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;01.05.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HPP Marumbi - Power generating plant registration: CGH. PH. PR. 001501-6.02</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Authorization Aneel 5,373/2015 - HGP Chopim I&nbsp; (only register with ANEEL)</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Concession agreement / authorization of the equity</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">UEG Arauc&aacute;ria</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Authorization 351/1999&nbsp; - TPP Arauc&aacute;ria (20.3% - Copel)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">60.9</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;12.23.2029</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Nova Asa Branca I</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 267/2011 - WPP Asa Branca I</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;04.25.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Nova Asa Branca II</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 333/2011 - WPP Asa Branca II</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;05.31.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Nova Asa Branca III</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 334/2011 - WPP Asa Branca III</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;05.31.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Nova Eurus IV</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 273/2011 -WPP Eurus IV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;04.27.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Santa Maria</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 274/2012 - WPP SM</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;05.08.2047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Santa Helena</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 207/2012 - WPP Santa Helena</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;04.09.2047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ventos de Santo Uriel</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 201/2012 - WPP Santo Uriel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;04.09.2047</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">GE Boa Vista</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 276 /2011 - WPP Dreen Boa Vista</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;04.28.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">GE Farol</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 263 /2011 - WPP Farol</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;04.20.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">GE Olho D&rsquo;&Aacute;gua</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 343 /2011 - WPP Dreen Olho D'&Aacute;gua</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;06.01.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">GE S&atilde;o Bento do Norte</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 310 /2011 - WPP Dreen S&atilde;o Bento do Norte</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;05.19.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Esperan&ccedil;a do Nordeste</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 183/2015 - WPP Esperan&ccedil;a do Nordeste</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;05.11.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Para&iacute;so dos Ventos do Nordeste</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 182/2015 - WPP Para&iacute;so dos Ventos do Nordeste</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;05.11.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Jangada</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Resolution 3,257/2011 - WPP GE Jangada</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;01.05.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Maria Helena</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Resolution 3,259/2011 - WPP GE Maria Helena</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;01.05.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Potiguar</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">MME Ordinance 179/2015 - WPP Potiguar</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;05.11.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Guajiru</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Resolution 3,256/2011 - WPP Dreen Guajiru</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;01.05.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Usina de Energia E&oacute;lica Cutia</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Resolution 3,258/2011 - WPP Dreen Cutia</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;01.05.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte I</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ordinance 349/2015 - WPP S&atilde;o Bento do Norte I</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;08.04.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte II</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ordinance 348/2015 - WPP S&atilde;o Bento do Norte II</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;08.04.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Bento do Norte III</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ordinance 347/2015 - WPP S&atilde;o Bento do Norte III</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;08.04.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Miguel I</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ordinance 352/2015 - WPP S&atilde;o Miguel I</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;08.04.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Miguel II</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ordinance 351/2015 - WPP S&atilde;o Miguel II</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;08.04.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">S&atilde;o Miguel III</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ordinance 350/2015 - WPP S&atilde;o Miguel III</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;08.04.2050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Foz do Chopim</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Authorization 114/2000 - SHP Arturo Andreoli</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">35.77</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;04.23.2030</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">SHP Bela Vista (a)</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Authorizing Resolution No. 913/2007 - transfer of ownership by Authorizing Resolution No. 7802/2019</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;01.02.2041</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Janda&iacute;ra I Energias Renov&aacute;veis (a)</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Awaiting publication of Ordinance by Aneel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Janda&iacute;ra II Energias Renov&aacute;veis (a)</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Awaiting publication of Ordinance by Aneel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Janda&iacute;ra III Energias Renov&aacute;veis (a)</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Awaiting publication of Ordinance by Aneel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Janda&iacute;ra IV Energias Renov&aacute;veis (a)</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Awaiting publication of Ordinance by Aneel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">100</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(a) Project under construction.</FONT></TD></TR>
</TABLE>
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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 38%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Copel GeT</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-style: solid; border-top-width: 1.5pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Interest %</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Maturity</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Transmission lines and substations concession agreements</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 060/2001</B>&nbsp;- Transmission installations (several Transmission lines and Substations)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;01.01.2043</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 075/2001</B>&nbsp;- Transmission line 230 kV Bateias - Jaguaria&iacute;va</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;08.17.2031</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 006/2008</B>&nbsp;- Transmission line 230 kV Bateias - Pilarzinho</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;03.17.2038</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 027/2009</B>&nbsp;- Transmission line 525 kV Foz do Igua&ccedil;u - Cascavel Oeste</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;11.19.2039</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 010/2010</B>&nbsp;- Transmission line 500 kV Araraquara II - Taubat&eacute;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;10.06.2040</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 015/2010</B>&nbsp;- Substation Cerquilho III 230/138 kV</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;10.06.2040</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 022/2012</B>&nbsp;- Transmission line 230 kV Londrina - Figueira and Transmission line 230 kV Foz do Chopim - Salto Os&oacute;rio</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;08.27.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 002/2013</B>&nbsp;- Transmission line 230 kV Assis - Paragua&ccedil;u Paulista II e Substation Paragua&ccedil;u Paulista II 230 kV&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;02.25.2043</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 005/2014</B>&nbsp;- Transmission line 230 kV Bateias - Curitiba Norte e Substation Curitiba Norte 230/138 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;01.29.2044</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 021/2014</B>&nbsp;- Transmission line 230 kV Foz do Chopim - Realeza e Substation Realeza 230/138 kV</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;09.05.2044</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 022/2014</B>&nbsp;- Transmission line 500 kV Assis - Londrina</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;09.05.2044</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 006/2016</B>&nbsp;- Transmission line 525 kV Curitiba Leste - Blumenau&nbsp; (a)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;04.07.2046</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transmission line 230 kV Baixo Igua&ccedil;u - Realeza</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transmission line 230 kV Curitiba Centro - Uberaba</FONT></TD>

    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Substation Medianeira 230/138 kV</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Substation Curitiba Centro 230/138 kV</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Substation Andir&aacute; Leste 230/138 kV</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Concession agreement / authorization of the equity</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Costa Oeste Transmissora</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Contract 001/2012:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;01.12.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 230 kV Cascavel Oeste - Umuarama</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Umuarama 230/138 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Caiu&aacute; Transmissora</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 007/2012:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.10.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 230 kV Umuarama - Gua&iacute;ra</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 230 kV Cascavel Oeste - Cascavel Norte</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Santa Quit&eacute;ria 230/138/13,8 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Cascavel Norte 230/138/13,8 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Marumbi Transmissora</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 008/2012:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.10.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 525 kV Curitiba - Curitiba Leste</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Curitiba Leste 525/230 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Integra&ccedil;&atilde;o Maranhense</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 011/2012:</B>&nbsp;Transmission line 500 Kv A&ccedil;ail&acirc;ndia - Miranda II</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.10.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Matrinch&atilde; Transmissora</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 012/2012:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.10.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 500 kV Parana&iacute;ta - Cl&aacute;udia&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 500 kV Cl&aacute;udia - Paranatinga</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 500 kV Paranatinga - Ribeir&atilde;ozinho</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Parana&iacute;ta 500 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Cl&aacute;udia 500 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Paranatinga 500 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Guaraciaba Transmissora</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 013/2012:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.10.2042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 500 kV Ribeir&atilde;ozinho - Rio Verde Norte</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 500 kV Rio Verde Norte - Marimbondo II</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Marimbondo II 500 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Parana&iacute;ba Transmissora</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 007/2013:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">24.5</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.02.2043</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 500 kV Barreiras II - Rio das &Eacute;guas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 500 kV Rio das &Eacute;guas - Luzi&acirc;nia</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmission line 500 kV Luzi&acirc;nia - Pirapora 2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Mata de Santa Genebra (a)</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 001/2014:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">50.1</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;05.14.2044</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmisson line&nbsp;500 kV Itatiba - Bateias</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmisson line 500 kV Araraquara 2 - Itatiba</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmisson line 500 kV Araraquara 2 - Fern&atilde;o Dias (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Santa B&aacute;rbara D'Oeste 440 kV (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Itatiba 500 kV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Substation Fern&atilde;o Dias 500/440 kV (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Cantareira Transmissora</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 019/2014:&nbsp;</B>Transmission line Estreito - Fern&atilde;o Dias</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">49</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;09.05.2044</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Uirapuru Transmissora</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Contract 002/2005:</B>&nbsp;Transmission line 525 kV Ivaipor&atilde; - Londrina</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">100</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;03.04.2035</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(a) Buildings under construction.</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>3</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Basis
of Preparation</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>3.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Statements
of compliance</FONT></B></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), issued
by the International Accounting Standards Board &ndash; IASB.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company's Management believes that all the relevant information used in its management is evidenced in the consolidated financial
statements, and that it corresponds to that used by Management in administering the Company.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
issuance of these consolidated financial statements was approved by Management on April 24, 2020.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>3.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Functional
and presentation currency</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
financial statements are presented in Brazilian Reais, which is the functional and presentation currency of the Company. Balances
herein have been rounded to the nearest thousand, unless otherwise indicated<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>3.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Basis
of measurement</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
financial statements were prepared based on the historical cost, except for certain financial instruments and investments measured
at fair value, as described in the respective accounting policies and notes.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>3.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Use
of estimates and judgments</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
the preparation of these financial statements, Management used judgments, estimates and assumptions that affect the application
of accounting policies and the reported amounts of assets, liabilities, income and expenses of the Company. Actual results may
differ from those estimates.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Estimates
and assumptions are reviewed on a continuous basis. Changes in estimates are recognized&nbsp;prospectively<FONT STYLE="color: black">.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">3.4.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Judgments</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Information
about judgment referring to the adoption of accounting policies which significantly impacts the amounts recognized in the consolidated
financial statements, except those involving estimates, is included in the following notes:</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: windowtext; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: windowtext; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: 20px">Note
4.1 - Basis of consolidation</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: windowtext; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: windowtext; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: 20px">Note
4.2 - Financial instruments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: windowtext; line-height: 20px">;
e</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Note
4.16.2 &ndash; Uncertainty over income tax treatments</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">3.4.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Uncertainties
over assumptions and estimates</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Information
on uncertainties related to assumptions and estimates that pose a chance of resulting in a material change within the next financial
year is included in the following notes:</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="text-align: left; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Notes
4.3 and 9 - Sectorial financial assets and liabilities;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Notes
4.4 and 10 - Accounts receivable related to the concession</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Notes
4.5 and 11 - Contract assets;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Notes
4.8 and 17 - Property, plant and equipment;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Notes
4.9 and 18 - Intangible assets;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Notes
4.10, 17.7 and 17.8 - Impairment of assets;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Notes
4.11 and 29 - Provisions for litigation and contingent liabilities;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Note
4.12 - Revenue recognition;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Note
4.14 - Power purchase and sale transactions in the Spot Market (Electric Energy Trading Chamber&nbsp;&ndash;&nbsp;CCEE);</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Note
4.15 - Derivative financial instruments;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Note
7.3 - Expected credit losses</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Note
13.1.2 and 13.1.3 - Deferred income tax and social contribution; and</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Note
23 - Post-employment benefits.</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>3.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Management&rsquo;s
judgment on going concern</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Management
has concluded that there are no material uncertainties that cast doubt on the Company's ability to continue as a going concern.
No events or conditions were identified that, individually or in the aggregate, may raise significant doubts on its ability to
continue as a going concern.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
main bases of judgment used for such conclusion are: (i) main activities resulting from long-term concessions; (ii) robust equity;
(iii) strong operating cash generation, including financial capacity to settle commitments entered into with financial institutions;
(iv) historical profitability; and (v) fulfillment of the objectives and targets set forth in the Company's Strategic Planning,
which is approved by Management, monitored and reviewed periodically, seeking the continuity of its activities.</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>4</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Significant
Accounting Policies</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Basis
of consolidation</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.1.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Calculation
of equity in earnings of investees</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/17.6px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0pt; background-color: rgb(255, 255, 255)">Investments
in joint ventures and associate are recognized in the consolidated financial statements based on the equity method. Under this
method, investments are initially recorded at cost and their carrying amount is increased or decreased by the recognition of the
investor's interest in profit, loss and other comprehensive income generated by investees after acquisition. This method must be
discontinued from the date the investment ceases to qualify as a jointly controlled or associated company.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black; background-color: white">Payment
of dividends decreases the carrying value of investments</FONT>.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black; background-color: white">When
required, for calculation of equity in earnings of investees, the investees' financial statements are adjusted to align their policies
with the Company's accounting policies</FONT>.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.1.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Subsidiaries</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
subsidiaries are entities to which the Company is exposed to or has a right over the variable returns arising from its involvement
with them and has the ability to affect those returns exerting its power over the entities.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
financial statements of the subsidiaries are included in the consolidated financial statements as from the date they start to be
controlled by the Company until the date such control ceases.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
balances of the subsidiaries&rsquo;&nbsp;assets and liabilities, and profit or loss, are consolidated and transactions between
consolidated companies are eliminated.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.1.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Noncontrolling
interests</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Noncontrolling
interests are presented in equity, separately from the equity attributable to the Company's shareholders. Profits, losses and other
comprehensive income are also allocated separately from the ones allocated to the Company's shareholders, even if this procedure
results in negative noncontrolling interest balance.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.1.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Joint
ventures and associates</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Joint
ventures are entities over which the Company, subject to an agreement, has the ability to affect returns exerting its power in
conjunction with other parties, irrespective of the percentage of interest in the voting capital.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Associates
are entities over which the Company exerts significant influence regarding financial and operational decisions, without control.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">When
the share in losses of a joint venture or associate equals or exceeds the accounting balance of the investor&rsquo;s equity interest
in the investee, the investor should discontinue the recognition of its share in future losses. Additional losses will be considered,
and a liability will be recognized, only if the investor incurs legal or constructive obligations, or performs payments on behalf
of the investee. Should the investee subsequently post profits, the investor should resume the recognition of its interest in these
profits only subsequent to the point at which the portion to which it is entitled to in these subsequent profits equals its share
in unrecognized losses.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.1.5</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Joint
operations (consortiums)</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Joint
operation is a joint business according to which parties that jointly control the business have rights on assets and obligations
regarding liabilities related to the business.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Joint
operations are recorded in proportion to the share of interest held in their assets, liabilities and profit or loss.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.1.6</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Business
combination</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
acquisition analysis is done on a case-by-case basis to determine whether the transaction represents a business combination or
an asset purchase. Transactions between companies under common control do not constitute a business combination.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Assets
and liabilities acquired in a business combination are accounted for using the acquisition method and are recognized at their fair
value at the acquisition date.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
excess of the acquisition cost over the fair value of the net assets acquired (identifiable assets acquired, net of assumed liabilities)
is recognized as goodwill in intangible assets. When the amount generated is negative, the bargain purchase gain is recognized
directly in profit or loss.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
amount paid that refers specifically to the concession right acquired in a business combination where the acquired entity is a
concession operator, whose right to the concession has a known and defined term, is not characterized as goodwill.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
acquisitions of interests in affiliates and in joint ventures, although they do not constitute a business combination, the net
assets acquired are also recognized at fair value. Goodwill is presented in the investment.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Financial
Instruments</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Financial
instruments are recognized immediately on the trade date, that is, when the obligation or right arises. They are initially recorded
at fair value, unless it is a trade receivable without a significant financing component, plus, for an item not measured at fair
value through profit or loss, any directly attributable transaction costs. An accounts receivable from customers without a significant
component of financing is initially measured at the price of the transaction.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Fair
values are determined based on market prices for financial instruments with active market, and by the present value method of expected
cash flows, for those that have no quotation available in the market.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company does not have financial instruments measured at fair value through other comprehensive income. The Company operates with
derivative financial instruments as described in<BR>
Note 4.15.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Financial
assets are not reclassified subsequent to initial recognition, unless the Company changes the business model for the management
of financial assets, in which case all affected financial assets are reclassified on the first day of the reporting period subsequent
to the change in business model.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company's financial instruments are classified and measured as described below.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Financial
assets recorded at fair value through profit or loss</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Financial
assets recorded at fair value through profit or loss include&nbsp;assets&nbsp;classified as held for trading,&nbsp;financial assets
designated upon initial recognition as at fair value through profit or loss or financial assets required to be measured at fair
value. Financial assets are classified as held for trading if they are acquired for the purpose of being sold or repurchased in
the near term. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured
at fair value through profit or loss, irrespective of the business model. After initial recognition, transaction costs and attributable
interest expenses, when incurred, are recognized through profit or loss.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Financial
assets measured at amortized cost</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">These
are so classified and measured when: (i) the financial asset is maintained within a business model whose objective is to maintain
financial assets in order to receive contractual cash flows; and (ii) the contractual terms of the financial asset give rise, on
specified dates, to cash flows that exclusively comprise payments of principal and interest on the principal amount outstanding.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.2.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Financial
liabilities measured at amortized cost</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Financial
liabilities are measured at amortized cost using the effective interest method. This method is also used to allocate interest expense
of these liabilities for the period. The effective interest rate is the rate that discounts estimated future cash flows (including
fees paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts)
over the expected life of the financial liability or, when appropriate, over a shorter period, for the initial recognition of the
net carrying amount.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.2.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Financial
liabilities measured at fair value through Profit or Loss</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">These
are liabilities designated upon initial recognition as at fair value through profit or loss and those classified as held for trading.
Financial liabilities designated fair value through profit or loss are stated at fair value with the respective gains or losses
in fair value recognized in the statement of income. Net gains or losses recognized in profit or loss include the interest paid
on the financial liability.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.2.5</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Derecognition
of financial assets and liabilities</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers
the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership
of the financial asset are transferred or in which the Company neither transfers nor retains substantially all of the risks and
rewards of ownership and it does not retain control of the financial asset.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company derecognizes financial liabilities only when its obligations are discharged, cancelled or settled. The difference between
the carrying amount of the derecognized financial liability and the corresponding disbursement made, or to be made, is recorded
to profit or loss.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Net
sectorial financial assets and liabilities</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">According
to the amendment to the concession agreement of distribution companies, the Company records changes in sectorial financial assets
and liabilities, until the next tariff adjustment/review process, when the Concession Grantor approves the transfer as components
of the power tariff and thus, it passes the adjustment on to consumers in the next tariff cycle, which occurs on June 24 of each
year.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
balances of the net sectorial financial assets and liabilities comprise: a) Parcel A Variation Compensation Account - CVA, which
records the variation between estimated and actual energy purchase and transmission costs and sector charges, and b) financial
items, which correspond to energy over-contracting, neutrality of charges and other rights and obligations included in the tariff.</P>

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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">After
approval of the Annual Tariff Adjustment and Periodic Tariff Review, the new tariff applied for the tariff year provides for the
collection or return of the constituted assets and liabilities.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
the event of termination of the concession for any reason, the residual values of Part A items and other financial components not
recovered or returned through tariff are incorporated in the calculation of compensation or deducted from unamortized assets indemnity
values, thus protecting rights or obligations of the distribution company to the Concession Grantor.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Accounts
receivable related to the concession</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Refer
to financial assets of the concessions with unconditional right to receive cash by the Company, guaranteed by the Concession Grantor
by contractual clause and specific legislation.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.4.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Power
distribution service concession</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
concession agreement for electricity distribution provides that the users of the public service remunerate part of the investments
made by the concessionaire and the Concession Grantor at the end of the concession indemnifies the other party. This model provides
for the recognition of financial assets, contract assets in the construction period and intangible assets.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
portion recognized as financial asset refers to the indemnity set forth in the public power distribution service concession agreements,
which the Company understands as an unconditional right to cash payments from the Concession Grantor upon expiration of the concession.
This indemnification aims to reimburse the Company for investments made in infrastructure, without recovery, through the tariff.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
cash flows related to these assets are determined taking into account the Regulatory Compensation Basis (Base de Remunera&ccedil;&atilde;o
Regulat&oacute;ria or BRR), defined by the Concession Grantor. The methodology of the BRR is based on the replacement cost of the
assets that make up the power distribution infrastructure related to the concession.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.4.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Piped
gas distribution service concession</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Gas
concession agreement follows the bifurcated model, whereby part of the investments made by the concession operator is paid by users
of the public service and the other part is indemnified by the Concession Grantor, the State of Paran&aacute;, at the end of the
concession. This model provides for recognition of a financial asset, a contract asset in the construction period and an intangible
asset.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
amount recognized as a financial asset is the amount that will be indemnified by the Concession Grantor corresponding to the investments
made in the last ten years prior to the end of the concession as foreseen in the agreement and that, according to Management, assures
the unconditional right to receive cash at the end of the concession. The indemnity assumption is based on the replacement cost
of the concession assets.</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.4.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Bonus
for the grant of quota system generation concession agreement</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
quota system generation concession agreement provides for the payment of a bonus for the grant to the Concession Grantor, pursuant
to paragraph 7 of article 8 of Law 12,783/2013.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">This
bonus is recognized as a financial asset because it represents an unconditional right to receive cash, guaranteed by the Concession
Grantor during the term of the concession and without risk of demand.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
remuneration of this financial asset is based on the Weighted Average Cost of Capital - WACC defined by the National Energy Policy
Council (CNPE) in Resolution 2/2015, which is being presented in the statement of income as operating revenue in accordance with
the Company's business model.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.4.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Transmission
concession &ndash; Reassessment of assets of the Basic Network of the Existing System</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Refers
to the right to reimbursement of the Concession Agreement No. 060/2001 arising from the Annual Revenue Allowed not received in
the period from January 2013 to June 2017. The balance includes monetary adjustment and interest rates (Note 10.4).</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.4.5</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Concession
of power generation</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company has operated and operates concession agreements for power generation that contain indemnification clauses for the infrastructure
not depreciated, amortized and/or received during the concession term. After maturity, the residual balance of the assets is transferred
to Accounts receivable related to the concession. At the end of each reporting period, Management evaluates the recoverability
of the asset, remeasuring its cash flow based on its best estimate.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Contract
assets</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Represented
by the construction in progress or in service of the infrastructure delegated by the Concession Grantor, conditional upon the receipt
of revenue not only by the passage of time, but after fulfilling the performance obligation to maintain and operate the infrastructure.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.5.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Power
distribution service concession</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Represents
the concessionaire's contractual right related to the works under construction to meet the needs of the concession, accounted for
at cost plus financial charges, when applicable.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">When
the assets are put into operation, the assets are transferred to the intangible asset, in the amount equivalent to what will be
remunerated by the user through payment of the fee for the use of the services, or to the accounts receivable associated to the
concession, in the amount equivalent to the residual portion of the assets not amortized, which will be reverted to the Concession
Grantor through indemnification at the end of the concession.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.5.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Power
gas distribution service concession</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Construction
in progress for the distribution of piped gas which will be transferred to intangible assets upon their entry in operation and
to the extent that the right (authorization) is received to charge the users of the public service. The amount that will not be
amortized within the term of the concession is presented in financial assets, indemnified at the end of the concession by the Concession
Grantor according to contractual definition.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.5.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Power
transmission concession</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Represents
the balance of public electricity transmission contracts signed with the Concession Grantor to build, operate and maintain the
high voltage lines and substations of the generation centers up to the distribution points.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">During
the term of the concession agreement, the Company receives, subject to its performance, a remuneration denominated Annual Revenue
Allowance (RAP) that remunerates the investments made in the construction of the infrastructure and covers also, the costs of operation
and maintenance incurred. After the start of the commercial operation, this revenue is recognized, monthly, in the statement of
income to the extent that the operation and maintenance service are provided, and the portion of the revenue recognized in the
construction phase, referring to the remuneration of the constructed assets.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">This
amount invoiced is reclassified to trade accounts receivable line item until their actual receipt.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
assets arising from the construction of the transmission infrastructure are formed by the recognition of construction revenue (Note
4.13) and by their financial remuneration (Note 4.12.2).</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Upon
expiration of the concession, any uncollected amounts related to the construction of infrastructure shall be received directly
from the Concession Grantor, as an unconditional right to cash reimbursement pursuant to the concession agreement, as compensation
for investments made and not recovered through tariffs (RAP).</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.6&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Accounts
payable related to the concession</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">These
refer to the amounts set forth in the concession agreement in connection with the right to explore hydraulic power generation potential
(onerous concession), whose agreement is signed as Use of Public Property (Uso do Bem P&uacute;blico or UBP) agreements. The asset
is recognized on the date of signature of the concession agreement corresponding to the present value of future cash payments for
the concession. The liability is then remeasured using the effective interest rate and reduced by contractual payments.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.7&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Inventories
(including property, plant and equipment and contract assets)</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Materials
and supplies in inventory, classified under current assets, and those assigned for investments, classified under property, plant
and equipment, and contract assets, have been recorded at their average acquisition cost. Recorded amounts do not exceed their
net realizable value.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.8&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Property,
Plant and Equipment</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
property, plant and equipment related to the public service concession agreement are depreciated according to the straight-line
method based on annual rates set forth and reviewed periodically by ANEEL, which are used and accepted by the market as representative
of the economic useful lives of the assets related to concession's infrastructure. Property, plant and equipment related to contracts
for the use of public property under the independent electricity producer scheme are depreciated based on annual rates established
by ANEEL limited to the concession period. All other property, plant and equipment are depreciated using the straight-line method
based on estimates of their useful lives, which is reviewed annually and adjusted if necessary.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Costs
directly attributable to construction works as well as interest and financial charges on borrowings from third parties during construction
are recorded under property, plant and equipment in progress, if it is probable that they will result in future economic benefits
for the Company.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.9&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Intangible
Assets</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">These
comprise software acquired from third parties and software developed in-house and are measured at acquisition cost and amortized
over five years, besides Intangible assets from Concession Agreements below.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.9.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Onerous
concession of electric power generation</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Corresponds
to acquisition of exploration rights on hydropower potential whose onerous concession contract is signed as Use of Public Property
- UBP.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">During
construction work, this asset is recognized at the present value of future cash disbursements during the Concession Agreement term.
When commercial operation starts, the amount starts to be amortized over the concession period.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.9.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Hydrological
risk renegotiation (Generation Scaling Factor - GSF)</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Asset
consisting of the renegotiation of the hydrological risk under the terms of Law No. 13,203/2015, arising from the excess amount
between the amounts recovered from the cost with the adjustment of the Energy Reallocation Mechanism - MRE (GSF), subtracted from
the total cost of the risk premium to be amortized over the energy supply period in the regulated environment. The amount was transformed
by ANEEL into an extension of the concession period, which is amortized on a straight-line basis as from January 1, 2016 until
the end of the new concession period, according to note 14.1.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.9.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Power
distribution service concession</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">This
comprises the right to control infrastructure, built or acquired&nbsp;as part of the electric energy public service concession,
and the right to charge fees to the users of the public service.</P>

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    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Intangible
assets are recorded at their fair acquisition and construction value, less accumulated amortization and impairment losses, when
applicable. The amortization of intangible assets reflects the pattern in which it is expected that future economic benefits will
flow to the Company during the concession period.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">During
the infrastructure construction phase costs are classified as contract assets (Note 4.5).</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.9.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Piped
gas distribution service concession</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Intangible
assets for piped gas distribution services, which correspond to the right to charge users for the gas supply.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">This
intangible asset was initially recognized at acquisition or construction cost, plus interest and other capitalized finance charges.
This asset is amortized using the straight-line basis over its estimated useful life, considering the economic benefits generated
by intangible assets.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">During
the infrastructure construction phase, costs are classified as contract assets (Note 4.5).</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.9.5</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Intangible
assets acquired separately</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Intangible
assets with a finite useful life, acquired separately, are recorded at cost, less accumulated amortization and accumulated impairment
losses. Amortization is recognized using the straight-line method based on the estimated useful lives of the corresponding assets.
The estimated useful lives and the amortization method are reviewed at the end of each reporting period, with the effect of any
changes in estimate being accounted for on a prospective basis.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.9.6</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Derecognition
of intangible assets</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">An
intangible asset is derecognized when no future economic benefits are expected from use or disposal. Gains or losses arising from
disposal of an intangible asset are recognized in profit or loss, measured as the difference between net disposal proceeds and
the carrying amount of the asset.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.10&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Impairment
of assets</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Assets
are assessed to detect evidence of impairment.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.10.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Financial
assets</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Provisions
for losses on financial assets are based on assumptions about default risk, existing market conditions and future estimates at
the end of each year.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company applies the simplified approach of IFRS 9 to the measurement of expected credit losses for the entire existence of financial
assets that do not have significant financing components, by considering a provision for expected loss over a useful life for all
trade accounts receivable. To measure expected credit losses, trade accounts receivable is grouped based on shared credit risk
characteristics and overdue days in the amount considered enough to cover losses on the realization of these assets.</P>

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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.10.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Non-financial
assets</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Assets
under formation arising from onerous concession and concession rights and/or authorization to generate electricity are classified
as intangible assets. Impairment is tested along with the other assets of that cash-generating unit.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Whenever
there is a loss resulting from situations where an asset&rsquo;s carrying value exceeds its recoverable value, defined as the higher
of the asset&rsquo;s value in use or its net selling price, this loss is recognized in profit or loss for the year.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">For
impairment testing purposes, assets are grouped at the lowest levels for which there are separately identifiable cash flows (Cash
Generating Units - CGU).</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
amount of the impairment of non-financial assets is reviewed at the reporting date. In case of reversal of impairment losses which
had been recorded in prior years, this reversal is recognized in current year's profit or loss.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Impairment of contract assets in their construction phase are tested immediately, mainly considering the use of the effective interest
rate fixed at the beginning of the project and carried to the end of the concession cash flow. After the beginning of the commercial
operation, the portion of revenue recognized is tested for impairment in the accounts receivable from customers. For the receivable
part conditioned to fulfill the performance obligation to maintain and operate the infrastructure, the Company has no history and
no expectation of losses, since amount are subject to guarantee structures, via shared apportionment of eventual default losses
among the other members of the national interconnected system managed by the &ldquo;Operador Nacional do Sistema&rdquo; (ONS) and
by jurisdiction of the sector.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.11&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Provisions</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Provisions
are recognized when: i) the Company has a present obligation (legal or constructive) resulting from a past event, ii) it is probable
(i.e., more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation,
and iii) a reliable estimate can be made of the amount to settle the obligation.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
estimates of outcomes and financial impacts are determined by the Company, which requires use of judgment by Management, supplemented
by the experience of similar past transactions and, in some cases, by independent expert reports.</P>

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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Environmental
liabilities are recognized as the Company assumes formal obligations before regulatory agencies or becomes aware of potential risks
related to environmental issues, which may lead to cash disbursements that are deemed probable and that may be estimated. During
the project implementation phase, the accrued amounts are included in property, plant and equipment (generation), construction
cost (transmission) or contract assets (distribution). At the start of operations, all costs included in the Operating License,
whose programs will be executed during the concession and the respective disbursement has not yet occurred, are measured and adjusted
to present value according to the estimated cash flow of disbursements and recorded as environmental provisions matched against
the assets related to the project, being adjusted periodically.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Once
the project enters commercial operation, all costs or expenses incurred with environmental programs related to the project&rsquo;s
operation and maintenance licenses are analyzed according to their nature and included in profit or loss for the period.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.12&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Revenue
recognition</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.12.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Revenue
from contracts with customers</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Revenue
is measured based on the consideration that the Company expects to receive in a contract with the customer, net of any variable
consideration. The Company recognizes revenues when it transfers control of the product or service to the customer and when it
is probable to receive the consideration considering the client's ability and intention to pay the consideration when due. The
Company's operating revenue comes mainly from the electricity supply and from the electric network availability.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
revenue from electricity supply is recognized monthly based on the data for billing that are determined by the average MW of contracted
electricity and declared with the CCEE. When the information is not available, the Company estimates the revenue considering the
contracts&rsquo;&nbsp;rules, the price estimate and the volume provided.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">For
wind power generation companies subject to minimum generation amounts, the Company understands that it is subject to variable consideration,
and for this reason, includes a provision for non-performance based on the annual generation estimates, reducing revenue.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Revenue
from electric power supply and network availability is recognized monthly based on measured and effectively billed energy. In
addition, the Company records unbilled revenue, calculated from the period between the last billing and the end of each month,
by estimate based on the last measurement taken. In the concession contract for the public electricity distribution service, non-performance
compensations are provided for quality indicators that, when incurred, reduce electricity availability revenue.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.12.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Interest
income</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Interest
income is recognized when it is probable that future economic benefits will flow to the Company and its amount can be reliably
measured. Interest income is recognized on a straight-line basis and based on time and the effective interest rate on outstanding
principal amounts. The effective interest rate is the one that discounts the estimated future cash receipts calculated during the
estimated life of the financial asset in relation to initial net carrying amount of that asset.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Regarding
the financial and contract assets of the power transmission concession, financial compensation revenue is recognized using the
discount rate established at the beginning of each project, which is presented in the statement of income as operating income in
accordance with the Company's business model.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.13&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Construction
revenues and costs</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Revenue
related to construction services for infrastructure in the power transmission and distribution services, and gas distribution,
are recognized using the percentage of completion (PoC) method at each reporting period and measured on the basis of the proportion
of costs incurred in relation to the total estimated costs of the distribution and transmission concession contracts. Related costs
are recognized in the statement of income as construction cost.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Given
that Copel DIS and Compag&aacute;s outsource the construction of distribution infrastructure to unrelated parties through works
carried out in the short term, the construction margin to the power and gas distribution activities result in no significant amounts,
resulting in the non-recognition of such margin.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
construction margin adopted for the transmission activity for the years 2019, 2018&nbsp;and 2017&nbsp;was 1.65%, and results from
a calculation methodology which considers the respective business risk.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.14&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Power
purchase and sale transactions in the Spot Market (Electric Energy Trading Chamber - CCEE</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Power
purchase and sale transactions in CCEE are recorded on the accrual basis of accounting, based on data released by CCEE, which are
calculated by the product of the Differences settlement prices - PLD multiplied by the energy surplus declared with CCEE, or, when
such information is not available in a timely manner, by an estimate prepared by Management.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.15&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Derivative
Financial Instruments</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.15.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Power
purchase and sale transactions</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company negotiates energy purchase and sale agreements and part of its contracts are classified as derivative financial instruments
measured at fair value through profit or loss.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; color: rgb(0, 0, 0); margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Unrealized
net gains or losses arising from the mark-to-market of these contracts (the difference between contractual and market prices)
are recognized in the statement of income.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.15.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Non-Deliverable
Forward (NDF) contracts</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
addition, the Company operates with Non-Deliverable Forward &ndash; NDF contracts, which aim exclusively at providing hedge against
exchange rate risks associated with cash flows from capital contributions to subsidiaries, when they reflect foreign-currency denominated
purchases of projected equipment. They are measured at their fair value, with changes recorded in the statement of income for the
year. The fair value is calculated based on the information of each contracted operation and the respective market information
on the closing dates of the financial statements.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.16&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Standards
applicable to the Company effective January 1, 2019</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.16.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>IFRS
16 - Leases</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">This
pronouncement supersedes IAS 17 - Leases, as well as related interpretations (IFRIC 4, SIC 15 and SIC 27). The adoption of the
new standard eliminates accounting for operating leases for lessees, presenting a single lease model that consists of initially
recognizing all leases in assets and liabilities at present value and recognizing amortization of the right-of-use asset and lease
interest separately in the statement of income.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Transition
method</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company applied the modified retrospective transition method, which does not require the presentation of comparative information.
The lease liability and right-of-use asset are recognized at the present value of the remaining lease installments payable. Accordingly,
information referring to prior years continues to be presented in accordance with the previous standard.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company analyzed its operating lease contracts and applied the pronouncement only to the contracts in effect on January 1, 2019
and that were previously identified as leases.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
accordance with IFRS 16, the Company elected to adopt exemptions from recognition provided for short-term leases (lease term of
up to 12 months) and leases of low value assets, such as computers, printers and furniture, amounting to less than R$ 18. These
contracts are recognized as operating lease costs and/or expenses on a straight-line basis as provided for in the standard, during
the term of the contract.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company has land lease agreements for the development of wind power generation projects that provide for minimum payment during
the study/construction period and payment based on variable remuneration during the period of commercial operation. For contracts
that are subject to minimum payment on the date of application of the standard, the Company recognized right-of-use assets and
lease liabilities. For contracts that are in commercial operation, the Company recognizes them in its statement of income, when
the event or condition is satisfied, as leases and rentals, in operating costs and/or expenses.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Use
of judgment</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company considered, for all lease agreements with related parties and third parties, the interest rate necessary to acquire assets
under conditions like those applicable to rents contracted on the date of signature. The rate adopted by the Company considers
the cost of the last fundraising made, based on the CDI (Interbank Deposit Certificate) plus a risk spread applicable to the Company.
Upon initial adoption, the rate used was 9.10% p.a.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Effects
from initial adoption</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
new requirements of IFRS 16 produced the following impacts on the recognition and presentation of lease and rent contracts.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 42%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 33%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Financial Statements</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Classification as IAS17</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>IFRS 16</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Statements of Financial Position</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Noncurrent assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Right-of-use asset</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Current Liabilities and Noncurrent Liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Lease liability</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Statements of Income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Operating Costs</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Leases and rentals</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Amortization of right-of-use asset</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other operating costs and expense</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Leases and rentals</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Amortization of right-of-use asset</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Financial expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Interest on lease liability</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Sttatements of cash flows</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payment of interest on lease liability</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Operating activities&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payment of principal of lease liability</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;-</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Financing activities</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The adoption of IFRS 16 for leases
previously classified as operating leases in accordance with IAS 17 resulted in increase in assets and liabilities in the amount
of R$ 118,022, increase in amortization in the amount of R$ 34,205 and increase in interest expense in the amount of R$ 9,675 (Note
27) and the reduction of Other operating costs and expenses in the amount of R$ 40,076.</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">4.16.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>IFRIC
23 - Uncertainty over Income Tax Treatments</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The interpretation explains how to
apply the recognition and measurement requirements of IAS 12 - Income Taxes where there is un/certainty over a tax treatment. In
accordance with certain requirements, such as where the tax authority is most likely not to accept certain treatment, the entity
shall recognize and measure its current or deferred tax, asset or liability, applying the requirements of IAS 12 based on taxable
profit (tax loss), tax bases, unused tax losses, unused tax credits and ruling statutory tax rates, considering this non-acceptance.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company evaluated the income tax
treatments and concluded that the application of the standard did not have impacts on its results.</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>4.17&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">New
standards that are not yet in effect</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">From January 1, 2020, changes in the
following pronouncements will be in effect, without significant impacts on the Company's financial statements:</P>

<P STYLE="text-align: justify; text-indent: -0.5in; margin: 6pt 0 6pt 0.75in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">(i)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">IAS
1 Conceptual framework;</FONT></P>

<P STYLE="text-align: justify; text-indent: -17.45pt; margin: 6pt 0 6pt 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">(ii)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Amendment
to definition of business in IFRS 3 and amendment to definition of materiality in IAS 1 and IAS 8.</FONT></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>5</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Cash
and Cash Equivalents</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 18%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cash and bank accounts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 263,188</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">167,728</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Financial investments with immediate liquidity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,678,539</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,780,681</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,941,727</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,948,409</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">These
comprise cash on hand, deposits with banks and short-term highly-liquid investments, which can be redeemed in cash within 90 days
from the investment date. Temporary short-term investments are recorded at cost at the reporting date, plus earnings accrued. Cash
and cash equivalents are subject to an insignificant risk of change in<FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT>value.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Financial
investments of the Company refer to Bank Deposit Certificates - CDBs and Repurchase Agreements, which are the sale of a security
with the commitment of the seller (Bank) to repurchase it, and of the purchaser to resell it in the future. Investments are remunerated
between 78% and 100.8% of Interbank Deposit Certificate (Certificado de Dep&oacute;sito Interbanc&aacute;rio - CDI)<FONT STYLE="letter-spacing: 0.1pt">&nbsp;interest</FONT>.</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>6</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Bonds
and Securities</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)">The
Company hold securities that yield variable interest rates. The term of these securities ranges from 1 to 52 months from the end
of the reporting period.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 20%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 17%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Category</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Index</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Quotas in Funds (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;CDI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 225,804</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">286,855</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: white">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Bank Deposit Certificates - CDB</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;95.0% to 101% of CDI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 50,216</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 50,629</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Committed Operation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">96.5% to 100% of CDI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 3,632</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,116</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">National Treasury Bills - LTN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CDI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,696</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Financial Treasury Bonds - LFT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;Selic</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 733</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">696</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 282,081</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>344,296</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,112</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>124,862</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 278,969</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>219,434</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Interbank Deposit Certificate - CDI</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Interest rate equivalent to the reference rate of the Special System for Settlement and Custody - Selic</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) These are fixed income funds in the Parent Company and reserve accounts intended to comply with contracts with BNDES, in other companies.</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>7</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Trade
Accounts Receivable</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 45%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balances</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Overdue</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Overdue for</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>falling due</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>up to 90 days</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>more than<BR>90 days</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Customers</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Residential</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 346,883</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 203,471</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 29,361</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 579,715</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 584,621</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Industrial</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 184,959</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">30,440</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 83,320</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 298,719</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 365,020</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Commercial</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 271,065</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">63,557</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 29,364</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 363,986</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 372,914</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Rural</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 77,716</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">20,419</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,136</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 103,271</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 89,634</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Public Entities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 44,608</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 7,523</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,716</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 55,847</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 56,920</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Public lighting</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 38,470</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">51</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 38,523</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 39,114</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Public service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 43,660</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 882</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">441</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 44,983</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 42,702</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Unbilled - captives</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 516,203</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 516,203</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 478,328</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Energy installments plan - captives (7.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 124,151</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">16,280</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 63,761</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 204,192</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 197,951</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Low income subsidy - Eletrobras</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 12,174</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 12,174</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 11,958</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Free consumers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 128,689</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,066</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 132,756</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 110,528</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other receivables</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 42,433</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">23,362</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 82,580</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 148,375</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 138,116</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,831,011</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 370,051</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 297,682</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,498,744</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,487,806</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Concessionaires, Permission holder and Trading Companies</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Bilateral contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 183,973</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">74</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7,416</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 191,463</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 186,252</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Regulated contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 148,410</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,289</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,793</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 159,492</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 66,294</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CCEE (7.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 196,047</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 119,665</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 315,712</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 323,657</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Energy suplies</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 528,430</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,363</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 133,874</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 666,667</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 576,203</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Charges from using transmission grid&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 203,125</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,511</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>7,946</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 215,582</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 208,060</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Telecommunications</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 50,752</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>10,094</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>6,458</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 67,304</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 62,985</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Gas distribution</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 90,510</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 9,228</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 11,288</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 111,026</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 103,340</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Expected credit losses (7.3)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (5,966)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (11,486)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (359,304)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (376,756)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (331,388)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; text-indent: 8.05pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,697,862</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 386,761</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 97,944</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,182,567</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,107,006</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,120,168</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,944,091</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 62,399</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 162,915</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>7.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Energy
installments plan</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The trade accounts receivable renegotiated
are discounted to present value as of December 31, 2019, taking into consideration the future value, the maturity dates, the dates
of settlement and the discount rate ranging from 0.26% to 2.81% p.m.</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>7.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Electricity
Trading Chamber - CCEE</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Balance receivable by the electricity
generation, trading and distribution subsidiaries deriving from the positive position in the monthly settlement of the spot market
centralized by CCEE. Amounts are received in the second month following the recognition of revenue or offset against future settlements
when the result is negative for the subsidiary.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company is challenging in court
the request for exemption of responsibility so that the obligation to supply the energy sold from Col&iacute;der HPP should be
postponed (Note 17.4).</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">From the amount determined by CCEE,
for the controversial portion arising from the effects of the injunction for exemption of responsibility of Col&iacute;der HPP,
an allowance for expected losses was recognized in the amount of R$ 119,665 (Note 7.3).</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>7.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Expected
credit losses</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The expected credit losses are recorded
based on the analysis of the credit realization risks in an amount considered sufficient to cover any losses on the realization
of trade accounts receivable, considering specific criteria according to payment history, collection actions carried out to recover
the credit and the materiality of the amount due in the receivables portfolio.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company considers the total recorded
expected credit losses of trade accounts receivable sufficient to cover losses on the realization of these assets, according to
the breakdown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions /</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Reversal</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Effects of applying</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions /</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Reversal</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions /</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Reversal</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>January 1, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(Reversals)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>of write offs</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>new IFRS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(Reversals)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>of write offs</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(Reversals)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>of write offs</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Customers</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Residential</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 66,502</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">36,177</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (80,147)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">22,532</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (5,708)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">62,274</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (57,376)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 21,722</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">71,794</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (51,692)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 41,824</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Industrial</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 66,563</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">26,265</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (14,049)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;78,779</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,394</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">10,367</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (6,343)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 87,197</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">33,772</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (23,015)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 97,954</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Commercial</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 67,075</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">18,101</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (25,901)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">59,275</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 16,973</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">10,318</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (16,849)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 69,717</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">27,866</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (26,658)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 70,925</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Rural</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 3,130</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,997</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (3,396)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,731</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,646</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;3,734</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (4,301)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,810</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,499</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,920)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,389</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Public Entities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 12,981</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (3,833)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (4,313)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,835</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 3,262</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,313)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,910)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,874</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 435</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (419)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,890</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Public lighting</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 104</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 205</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (269)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">40</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 389</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(304)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 120</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (117)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Public service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,111</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (653)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;&nbsp;(439)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">19</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 460</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 8</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (288)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 199</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 145</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (79)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 265</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Unbilled - captives</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,573</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (71)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,502</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (322)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,180</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Adjustment to present value</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (4,048)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,165</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (2,883)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,442</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,441)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>217,466</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>79,259</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(128,514)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 168,211</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 18,941</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>86,178</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (87,072)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 186,258</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 136,514</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (103,783)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 218,989</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Concessionaires, Permission holder and Trading Companies</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CCEE (7.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">119,665</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 119,665</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 119,665</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 119,665</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">

    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Concessionaries and permission holder</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 13,077</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,287</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (175)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">14,189</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,155</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (8,860)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (10)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,474</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">11,608</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (657)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 20,425</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>132,742</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,287)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (175)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 133,854</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,155</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (8,860)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (10)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 129,139</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>11,608</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (657)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 140,090</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Telecommunications</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 534</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 8,309</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (7,332)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,511</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,233)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12,749</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (9,148)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>3,879</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>13,292</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (12,022)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>5,149</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Gas distribution</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 4,924</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,433</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (103)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 6,254</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 6,017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (159)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 12,112</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,063</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (647)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 12,528</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>355,666</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>90,288</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(136,124)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 309,830</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 21,863</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>96,084</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;(96,389)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 331,388</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 162,477</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (117,109)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 376,756</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-align: justify; margin: 0; font: 10pt/18pt Arial, Helvetica, Sans-Serif">Trade accounts receivable are written off
when there is no reasonable expectation of recovery. Indications for this include, among other things, the inability of the debtor
to participate in a plan to renegotiate its debt with the Company or to make contractual payments of overdue debts.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Expected credit losses are presented
in selling expenses, in the group of Credit losses, provisions and reversals. Subsequent recoveries of amounts previously written
off are also credited to selling expenses, in the group of Other operating costs and expenses, net.&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>8</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">CRC
Transferred to the Paran&aacute; State Government</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company's Management and the Paran&aacute;
State Government formalized on October 31, 2017 the fifth amendment to the agreement for renegotiation of the Account for Compensation
of Income and Losses - CRC. The State of Paran&aacute; complied with the agreed terms and made the payments of the monthly interest
until December 2017.&nbsp;With the end of the grace period, the State of Paran&aacute; has complied with the payments under the
agreed terms, remaining 64 monthly installments to be paid. The contract balance is updated by the IGP-DI variation and interest
of 6.65% p.a.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>8.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in CRC</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Monetary</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Monetary</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Interest</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>variations</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amortizations</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Interest</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>variations</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amortizations</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,516,362</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 93,009</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 95,788</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(260,117)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,445,042</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 87,710</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 96,519</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(278,586)</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,350,685</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 190,876</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 219,236</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,254,166</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,131,449</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>8.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Maturity
of noncurrent installments</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 87%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2021</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 233,817</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 249,367</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 265,951</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 283,638</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">After 2024</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 98,676</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,131,449</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>9</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Net
Sectorial Financial Assets and Liabilities</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The balance as of December 31, 2019
is composed of amounts related to amortization referring to the 2019 tariff adjustment, which represents the balance approved
by ANEEL already included in the tariff, and of future tariff adjustment cycles (2020 tariff adjustment and 2021 periodic tariff
review), whose amounts will be approved by ANEEL in the next tariff events.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>9.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Compositions
of net sectorial financial assets and liabilities balances per tariff cycle</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Current</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Noncurrent</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Sectorial financial assets - Electricity rate adjustment recoverable 2018</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Portion A</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Electricity purchased for resale - CVA Energ</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 274,495</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Electricity purchased for resale - Itaipu</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 278,072</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transport of energy using the transmission system - basic grid</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 28,100</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transport of energy purchased from Itaipu</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 8,312</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">System Service Charges - ESS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(240,248)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Energy Development Account - CDE</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 16,434</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Proinfa</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">3,007</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other financial components</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Neutrality</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 42,605</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Overcontracting</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (46,972)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Hydrological risk</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (175,117)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Tariff refunds</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (36,840)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">CVA Angra III Adjustment</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">6,272</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">5,429</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 163,549</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Sectorial financial assets - Electricity rate adjustment recoverable 2019</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Portion A</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Electricity purchased for resale - CVA Energ</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 235,192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">176,198</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 176,198</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Electricity purchased for resale - Itaipu</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 342,647</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 304,086</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 304,086</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transport of energy using the transmission system - basic grid</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(47,214)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (29,307)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (29,307)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transport of energy purchased from Itaipu</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">9,937</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">7,469</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 7,469</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">System Service Charges - ESS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (160,277)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (120,862)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(120,862)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Energy Development Account - CDE</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 98,722</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 71,325</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 71,325</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Proinfa</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">8,528</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (10)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (9)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other financial components</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Neutrality</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 29,690</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 40,212</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 40,211</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Offset of energy surplus/deficit under CCEAR bilateral contracts</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Overcontracting</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (116,673)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (95,722)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (95,722)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Hydrological risk</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (119,416)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(71,958)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (71,958)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Tariff refunds</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (43,538)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (23,796)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (23,796)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (448)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 237,150</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 257,635</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>257,635</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Sectorial financial assets - Electricity rate adjustment recoverable 2019</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Portion A</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Electricity purchased for resale - CVA Energ</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 15,298</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 15,298</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Electricity purchased for resale - Itaipu</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 225,340</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 225,340</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transport of energy using the transmission system - basic grid</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 30,126</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 30,126</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Transport of energy purchased from Itaipu</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">7,227</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 7,227</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">System Service Charges - ESS</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (52,336)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (52,336)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Energy Development Account - CDE</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 27,103</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 27,103</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Proinfa</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(30)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (30)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other financial components</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Neutrality</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">9,408</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 9,408</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Offset of energy surplus/deficit under CCEAR bilateral contracts</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 20,096</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">20,096</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Overcontracting</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (25,725)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (25,725)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Hydrological risk</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (113,872)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (113,872)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="background-color: rgb(255, 255, 255); text-indent: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Tariff refunds</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(24,215)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (24,216)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 118,420</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 118,419</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 355,570</B></FONT></TD>
    <TD STYLE="border-style: solid; border-top-width: 1pt; border-right-width: 1pt; border-bottom-width: 1.5pt; border-left-width: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 118,419</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 421,184</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>257,635</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 57%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Sectorial financial liabilities - Tariff Review 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Financial components</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Tariff refunds</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(102,284)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (96,531)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(102,284)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (96,531)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; text-indent: 8.05pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-width: 1pt; white-space: nowrap; text-align: right; border-style: solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(102,284)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (96,531)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>9.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in net sectorial financial assets and liabilities</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Operating revenues</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Financial results</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Rate</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Constitution</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Updating</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>flags&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Portion A</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Electricity purchased for resale - Itaipu</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 886,243</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">533,057</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(670,501)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">44,528</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 793,327</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Electricity purchased for resale - CVA Energ</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 626,891</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">358,200</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(546,801)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">29,909</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(202,411)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 265,788</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transport of energy using the transmission system - basic grid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;(30,514)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 22,917</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">23,688</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (3,053)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 13,038</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transport of energy purchased from Itaipu</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 23,250</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 19,531</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (19,692)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,302</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 24,391</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">ESS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (481,972)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (188,280)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 427,177</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;(21,874)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (264,949)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CDE</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 159,084</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">110,752</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(127,190)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">10,282</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 152,928</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Proinfa</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,989</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 17,396</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (12,636)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 719</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8,468</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Other financial components</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Neutrality</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 123,028</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,122)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (74,698)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,298</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 48,506</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Offset of energy surplus/deficit under CCEAR bilateral contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 18pt">5,237</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 18pt">&nbsp;&nbsp; 80,385</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 18pt">&nbsp;&nbsp; (45,430)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 18pt">&nbsp; 40,192</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CVA Angra III Adjustment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,272</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(6,272)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Hydrological risk</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (319,033)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (324,504)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 304,197</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (7,820)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (347,160)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Tariff refunds</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (180,963)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (89,327)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">83,900</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (7,863)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (194,253)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Overcontracting</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (238,416)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (22,166)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 173,087</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (5,774)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (74,854)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (168,123)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Others</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (905)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 294</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (29)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (448)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 582,288</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>515,934</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(490,877)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>41,625</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(277,265)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 371,705</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 421,184</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 355,570</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 257,635</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 118,419</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(96,531)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (102,284)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Operating revenues</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Financial results</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Rate</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Constitution</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Updating</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>flags&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Portion A</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Electricity purchased for resale - Itaipu (9.2.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 537,704</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">661,144</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(348,586)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">35,981</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 886,243</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Electricity purchased for resale - CVA Energ (9.2.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 497,885</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">710,482</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(129,555)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">31,053</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(482,974)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 626,891</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transport of energy using the transmission system - basic grid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 47,239</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (36,959)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (43,101)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,307</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(30,514)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transport of energy purchased f rom Itaipu</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 12,923</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 21,526</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (12,194)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 995</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 23,250</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">ESS (9.2.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (591,408)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (302,226)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 443,817</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (32,155)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (481,972)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CDE (9.2.4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (141,893)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">231,308</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">69,851</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (182)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 159,084</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Proinfa</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (5,188)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,111</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2,024</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">42</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,989</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Other financial components</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Neutrality (9.2.5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;121,247</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">100,280</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(100,661)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,162</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 123,028</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CVA Angra III Adjustment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 48,193</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8,482</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (57,214)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 6,811</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,272</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Hydrological risk (9.2.6)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (187,928)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (310,975)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 189,289</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (9,419)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (319,033)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Tariff refunds (9.2.7)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (145,774)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (80,493)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">52,290</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (6,986)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (180,963)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Overcontracting (9.2.8)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (136,325)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (54,421)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (37,176)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (10,494)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (238,416)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Others</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,024</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 11,193</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(8,892)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 104</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,429</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 59,699</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>965,452</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>19,892</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>20,219</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(482,974)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 582,288</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 171,609</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 421,184</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 171,609</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 257,635</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current liabilities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (192,819)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(90,700)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(96,531)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">9.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Electricity
purchased for resale - Itaipu</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
power output from the Itaipu hydroelectric power plant is sold as quotas to utility companies in the South, Southeast and Midwest
Brazilian regions in proportion to their markets, whose value is set in dollars per kilowatt of contracted monthly power (USD/kW).
The invoices are paid in Brazilian currency and are used for currency conversion, the average USD sales rate calculated by the
Central Bank of Brazil, on the business day immediately prior to the payment of the invoice.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">9.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Electricity
purchased for resale - CVA Energy</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
balance constituted reflects the difference between the average price of payment related to the cost of energy purchased and the
average price of tariff coverage, mainly due to the effects of contracting by availability (ECD) - associated with the dispatch
of thermal plants and generation of wind farms and the transfer of the hydrological risk associated with the plants committed to
Contracts of Quotas of Assured Power - CCGF, as well as the enterprises that signed the renegotiation term.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">9.2.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Energy
Development Account - CDE</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
balance of the CDE in 2019 is the result of the higher amount of monthly payment quotas, except in this case the CDE discounts
resulting from preliminary injunctions, ratified by ANEEL (Note 31.3.1), in relation to the regulatory quota in the electricity
tariff.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">9.2.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>System
Service Charges - ESS</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
objective of the ESS is to cover the cost of maintaining the reliability and stability of the electrical system. Its calculation
is performed monthly by CCEE and paid by the distributor and by generation agents. The ESS liability balance set up in 2019 is
the result of the lower amount paid in relation to the amount included in the tariff, mainly due to the variation of the costs
related to the dispatch of thermal plants.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">9.2.5</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Neutrality</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Portion
A's neutrality corresponds to the estimate of the recoverable portion of the sector charges, energy, transportation, financial
components and unrecoverable revenues, not billed by the current, and should be understood as the guarantee of transfer to consumers
of all the components over which the distributor has no managing power.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">9.2.6</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Hydrological
risk</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
the tariff adjustment of 2019 and 2018, there was calculation of the coverage of the hydrological risks associated with plants
committed to Contract of Quotas of Assured Power - CCGF, of the Itaipu plant and of the hydroelectric power plants whose energy
was contracted within the Regulated Contracting Environment - ACR and that signed the Risk Renegotiation Term in conformity with
Law No. 13,203/2015. The estimated hydrological risk defined in the tariff adjustment will be reversed in the subsequent tariff
adjustment, adjusted by the Selic rate.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">9.2.7</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Tariff
refunds</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">ANEEL,
by means of Order No. 245 of January 28, 2016, in line with the Tariff Regulation Procedures - Proret, sub-module 2.1 - General
Procedures, determined that the amounts resulting from excess demand and surplus of reagents previously recorded as special obligations
should be recorded as sector financial liabilities.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">9.2.8</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Overcontracting</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">For
the calculation of the transfer of energy overcontracting or exposure to the short-term market, it is necessary to calculate the
results in the short-term market of the distributor with data made available by CCEE. Even though contracting management mechanisms
have contributed to significantly reduce the risk of over-contracting, the indicators associated with supply and demand point to
the occurrence of 105.8% for Copel Distribui&ccedil;&atilde;o.</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>10</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Accounts
Receivables - Concessions</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Power distribution service concession (10.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 836,818</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 783,023</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Piped gas distribution service concession (10.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 324,385</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 322,259</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Bonus from the grant of concession agreements under the quota system (10.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 647,984</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 625,772</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Remeasurement of RBSE assets (10.4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 739,269</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 753,826</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Generation concession agreements (10.5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 69,182</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 65,811</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,617,638</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,550,691</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 58,842</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 53,177</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,558,796</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,497,514</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>10.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Power
distribution service concession</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 89%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 684,206</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from contract assets (Note 11.1)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 66,380</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to other receivables (assets held for disposal)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,334)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value recognition</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 35,306</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,535)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 783,023</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from contract assets (Note 11.1)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 28,987</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to investments</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 348</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to other receivables (assets held for disposal)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,578)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value recognition</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 26,231</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Incorporations (a)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(75)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (118)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 836,818</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) Incorporation of assets and equipment through transfer free of charge, of which the amounts were classified in&nbsp;concession related receivables and in intangible assets (Note 18.1).</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
distribution concession agreement amount is measured at fair value and its collection is assured by the Concession Grantor through
an indemnity upon the return of these assets at the end of the concession period.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>10.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Piped
gas distribution service concession</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 87%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 303,668</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from contract assets (Note 11.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,399</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value recognition</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 12,193</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 322,259</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from contract assets (Note 11.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 16,574</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to intangible assets (Note 18.3)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(24,835)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value recognition</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 10,415</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(28)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 324,385</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>10.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Bonus
from the grant of concession agreements under the quota system</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 88%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 606,479</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to electricity grid use charges - customers</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(66,693)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Interest (Note 31.1)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 85,986</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 625,772</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to electricity grid use charges - customers</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(69,192)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Interest (Note 31.1)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 91,404</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 647,984</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">On January 5, 2016, Copel GeT entered
into a 30-year concession agreement of HPP GPS, in accordance with Law No. 12,783/2013, with payment of the Bonus from the Grant
- BO to the Concession Grantor, amounting to R$ 574,827, as per ANEEL Invitation to Bid 12/2015.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The electric energy in 2016 was fully
sold to the Regulated Contracting Environment - ACR under the Assured Power Quota System - CGF or&nbsp;&ldquo;quota regime&rdquo;&nbsp;and,
as from 2017 to the end of the concession, in the proportion of 70% of the power in the ACR and 30% in the free environment - ACL.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The amount of the bonus for the grant
was recognized as a financial asset due to the Copel GeT&rsquo;s unconditional right to receive the amount paid with inflation
adjustment based on IPCA and interest during the concession period.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>10.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Remeasurement
of RBSE financial assets</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 88%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,418,370</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Gain on remeasurement of the cash flow from the RBSE assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (635,292)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Increase in the estimated amount due to the approval of the report on RBSE assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 82,640</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to electricity grid use charges - customers</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (111,892)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 753,826</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Gain on the cash flow from the assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 90,346</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to electricity grid use charges - customers</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (104,902)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 739,270</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">Refers to the right recognized, emerging of Concession Agreement No. 060/2001
arising from the Annual Permitted Revenue - RAP not received in the period from January 2013 to June 2017. The balance includes
monetary restatement and interest.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">On June 27, 2017, ANEEL published Resolution 2,258 establishing the Annual
Permitted Revenues (RAP) for the 2017-2018 tariff cycle, considering a court decision on the injunction of April 11, 2017 related
to a lawsuit filed by business associations, which determines the deduction of the&nbsp;"compensation",&nbsp;provided for in article
15, paragraph 2 of Law 12,783/2013,&nbsp;on a temporary basis. The same decision was applied to the other tariff cycles. The compensation
being challenged in court related to the cost of equity calculated for the RBSE assets from January 2013 to June 2017, at the time
of filing of the lawsuit, is R$ 201,795.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">Based on the opinion of its legal counsel, Copel GeT understands that this
is a provisional decision that does not oppose its right to receive the due amounts related to RBSE assets, and that these are
guaranteed by law. Therefore, the receivables considered in the receipt flow of this asset are recorded in noncurrent<FONT STYLE="letter-spacing: -0.2pt">&nbsp;</FONT>assets.</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>10.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Power
generation concession contract</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 89%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>68,859</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to other current receivables - disposal of assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(9,053)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Gain on remeasurement of the cash flow</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,247</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Reversal of impairment (Note 32.4)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 4,758</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>65,811</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Gain on remeasurement of the cash flow</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 426</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Reversal of impairment (Note 32.4)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2,945</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>69,182</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt/20px Arial, Helvetica, Sans-Serif">The balance refers to the electricity generation
assets, due to the expiration of the concessions of HPP GPS and HPP Mour&atilde;o I. Copel GeT depreciated the plants until the
expiration date of the concessions and the residual balances of the assets were reclassified to accounts receivable linked to
the concession. Although the Granting Authority has not yet disclosed the form of payment of remuneration of the assets and despite
uncertainties regarding the approval of the investments made, Management's expectation about indemnification for these assets
indicates the recoverability of the recorded balance, based on the remuneration methodology established by ANEEL.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
variation in the remeasurement of the cash flow of these assets was matched against Other Revenues account, within the group of
Other operating costs and expenses, net.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black">Copel
GeT timely manifested to ANEEL its interest in receiving the indemnifiable amount. Formalization of proof of realization of the
respective investments to ANEEL occurred on December 17, 2015. To prepare the information, the new replacement value methodology
was used, as defined by ANEEL Normative Resolution No. 596/2013</FONT>.</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>11</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Contract
assets</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 74%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Power distribution service concession (11.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 844,284</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 640,500</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Piped gas distribution service concession (11.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 26,734</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 25,718</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Power transmission concession (11.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 3,180,366</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,767,012</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,051,384</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,433,230</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 107,443</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 85,019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,943,941</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,348,211</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">Until December 31, 2017, the balances of the electricity transmission concession
contracts were classified as a financial asset under the scope of IAS 39 and IFRIC 12, and the balances of works in progress of
energy distribution and piped gas were classified as intangible assets under the scope of IFRIC 12.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">On January 1, 2018, with the entry into force of IFRS 15 and the revision
of IFRIC 12, the Company started to classify these balances as contract assets. The adoption of the IFRS was carried out prospectively,
according to the changes presented below.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>11.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Power
distribution service concession contract</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 55%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Assets</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Special liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from intangible assets (Note 18.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 714,446</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (26,100)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 688,346</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Acquisitions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 797,832</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 797,832</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Customers contributions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(106,764)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (106,764)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Provision for legal claims added to the cost of the works</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,320</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,320</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to intangible assets (Note 18.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (775,701)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 107,679</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (668,022)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from/to accounts receivable - concessions (Note 10.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(67,310)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 930</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(66,380)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (8,832)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (8,832)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 664,755</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (24,255)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 640,500</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Acquisitions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,021,644</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,021,644</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Customers contributions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(104,067)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (104,067)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Provision for legal claims added to the cost of the works</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,823</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,823</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from/to intangible assets (Note 18.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (771,844)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 93,164</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (678,680)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from/to accounts receivable - concessions (Note 10.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(33,075)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 4,088</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(28,987)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (7,949)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (7,949)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 875,354</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (31,070)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 844,284</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">The costs of borrowings, financing and debentures capitalized in 2019 totaled
R$ 6,838, at average rate of 0.28% p.a. (R$ 5,435, at average rate of 0.26% p.a. in 2018).</P>

<P><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>11.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Piped
gas distribution service concession contract</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 82%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from intangible assets (Note 18.3)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 19,471</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Acquisitions</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 15,618</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to intangible assets (Note 18.3)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(2,042)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from/to accounts receivable - concessions (Note 10.1)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(6,399)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;(930)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 25,718</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Acquisitions</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 17,590</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to accounts receivable - concessions (Note 10.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (16,574)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 26,734</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>11.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Transmission
service concession contract</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 87%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from/to accounts receivable - concessions</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,497,399</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from accounts receivable linked to the concession - RBSE (Note 10.4)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 635,292</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Effect of the acquisition of control of the Costa Oeste and Marumbi</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 258,908</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to electricity grid use charges - customers</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (243,247)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to property, plant and equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (501)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from litigations</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8,277</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Remuneration</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 268,904</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Construction revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 297,018</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Construction income</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 44,962</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,767,012</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Business combinations effects (Note 1.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 117,942</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Realization of gains/losses in business combinations</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 282</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to electricity grid use charges - customers</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (286,158)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to property, plant and equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (3,353)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from litigations</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (313)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Remuneration</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 368,514</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Construction revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 173,733</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Construction income</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 42,707</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,180,366</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>12</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Other
Receivables</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value in the purchase and sale of power in the active market (Note 35.2.12)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 460,635</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">14,793</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Services in progress (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 228,593</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 165,973</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Credits on purchases of gas (12.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 142,941</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 112,003</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CDE Transfer (12.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;61,898</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 107,472</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Advance payments to suppliers (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 24,073</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">22,096</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Decommissioning in progress</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 21,238</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">19,457</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Advance payments to employees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 20,427</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">21,201</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Tariff flag - CCRBT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 19,545</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">28,725</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Advance for severance estate</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 15,597</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;19,591</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other receivables</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 93,677</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">80,833</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,088,624</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 592,144</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 426,865</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 363,250</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 661,759</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 228,894</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">CCRTB - Centralizing account of Tariff Flag Resources.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) This item refers to services currently in progress within the Company, most of which are related to the Research and Development&nbsp;and Energy Efficiency programs, which upon conclusion are offset against the respective liability recorded for this purpose.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(b) Advances to suppliers provided on contractual clauses.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>12.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Credits
on purchases of gas - Compag&aacute;s</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">This
balance refers to the gas acquisition of contracted and guaranteed volumes, higher than those actually withdrawn and used, and
contains a future compensation clause. Compag&aacute;s has the right to use the gas in subsequent months and can compensate the
volume contracted and not consumed until 2022. According to the contractual provisions and consumption perspectives, derived from
the review of the projects and scenarios for the next years, Compag&aacute;s estimates to fully offset the contracted volumes in
the course of its operation. The contracts with Petrobras provide for the right to dispose of this asset. The expiration date of
the concession is in discussion with the Concession Grantor, as described in Note 2.1.1.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>12.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">CDE
Transfer</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Balance
in December 31, 2019&nbsp;to be transferred by the CDE referring to tariff discounts on the tariffs applicable to users defined
in accordance with article 13, item VII, of Law 10,438/2002 and Decree 7,891/2013. The amount transferred to Copel DIS for the
period from June 2018 to May 2019, in accordance with Resolution 2,402/2018, was R$ 62,699 per month. As from June 2019, this amount
was changed to R$ 51,200 per month,&nbsp;<FONT STYLE="color: black">by Resolution 2,559, dated June 18, 2019</FONT>, which approved
the result of the last Annual Tariff<FONT STYLE="letter-spacing: -0.95pt">&nbsp;</FONT>Adjustment.</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>13</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Taxes</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>13.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Deferred
income tax and social contribution</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">13.1.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Income
Tax and Social Contribution</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
taxation on profit comprises income tax and social contribution calculated based on the taxable profits (adjusted profit) of each
taxable entity at the applicable tax rates according to prevailing legislation, namely, at 15%, plus 10% surtax on the amount exceeding
R$ 240 per year, for income tax and at 9% for social contribution.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Income
tax and social contribution losses can be offset against future taxable profits, considering the limit of 30% of the taxable profit
for the period, and can be carried forward indefinitely.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">13.1.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Deferred
income tax and social contribution</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company, based on its profitability history and the expectation of generating future taxable profits, based on its internal projections
prepared for reasonable periods for its business, sets up a deferred tax asset on temporary differences between the tax bases and
on tax losses and negative tax basis.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
deferred income tax and social contribution are recognized on temporary differences between the carrying amounts of assets and
liabilities in the financial statements and the corresponding tax bases used for tax calculation purposes, to the extent that it
is probable that there will be sufficient taxable profits against which the temporary differences can be utilized and the tax losses
can be offset.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Deferred
tax assets and liabilities may be offset if there is a legal right to offset the current tax assets and liabilities and they relate
to the same taxing authority.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; white-space: nowrap; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Effect</B></FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Business</B></FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Recognized</B></FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Business</B></FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Recognized</B></FONT></TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-top: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Recognized</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>of applying</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>combination</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>comprehensive</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Recognized</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>combination</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>comprehensive</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>January 01, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>in income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>new IFRS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>effect</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>in income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>effect (Note 1.2)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>income</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Provisions for legal claims&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 514,358</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">55,123</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3,696</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 573,177</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(62,044)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">6,237</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">517,370</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Post-employment benefits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 293,611</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">15,080</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 19,994</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 328,685</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">13,285</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 63,444</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">405,414</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Impairment of assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 310,561</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">17,450</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 328,011</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">57,456</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">385,467</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Research and development and energy efficiency programs</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;156,325</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,834)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 154,491</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">10,840</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">165,331</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Expected credit losses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 113,380</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(6,838)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 7,468</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 114,010</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">17,811</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">131,821</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Tax losses and negative tax basis</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;110,658</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(39,518)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 71,140</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">27,102</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">98,242</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Social security contributions - injunction on judicial deposit</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;60,856</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">6,154</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 67,010</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">4,190</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">71,200</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Amortization - concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 48,722</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">4,617</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 53,339</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">5,005</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">58,344</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Provision for profit sharing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 22,270</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">8,278</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 30,548</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">21,567</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">52,115</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Concession contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 24,906</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,300)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 23,606</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,253)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">22,353</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Provision for energy purchases</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 129,877</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">25,693</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 155,570</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(137,531)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">18,039</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Others</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 97,092</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">49,673</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 1,006</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 147,771</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(4,512)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">143,259</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>1,882,616</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>132,578</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 8,474</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>3,696</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 19,994</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>2,047,358</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(48,084)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>6,237</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 63,444</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 2,068,955</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(-) Noncurrent liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Concession contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 535,726</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">68,475</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">9,457</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 613,658</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">99,817</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,026)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">712,449</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Deemed cost</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 449,884</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(34,559)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 415,325</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(34,116)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">381,209</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Derivative financial instruments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">5,030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 5,030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">65,915</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">70,945</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Escrow deposits monetary variation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 55,328</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">8,839</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 64,167</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(3,022)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">61,145</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accelerated depreciation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 26,401</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">6,281</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 32,682</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">17,640</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">50,322</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Transaction cost on borrowings and debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;21,538</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">9,589</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 31,127</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 981</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">32,108</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Others</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 34,877</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 851</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 35,728</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">6,849</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">42,577</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>1,123,754</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>64,506</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>9,457</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>1,197,717</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>154,064</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (1,026)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 1,350,755</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Net</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 758,862</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>68,072</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 8,474</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(5,761)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 19,994</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 849,641</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(202,148)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>7,263</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 63,444</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>718,200</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Assets presented in the Statement of Financial Position</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;915,492</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,007,061</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 1,011,866</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Liabilities presented in the Statement of Financial Position</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;(156,630)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (157,420)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(293,666)</FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0 0 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 10pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">13.1.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Realization
of deferred taxes</U></FONT></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">The projection of deferred tax credits realization recorded in noncurrent
assets and liabilities is based on the average realization period of each item of deferred assets and liabilities and tax losses,
also based on projections of future results. These projections were evaluated by the Supervisory Board on March 17, 2020 and approved
by the Board of Directors on March 25, 2020.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The items that were the basis for the
constitution of the main credits, as well as their form of realization are as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif">- Amounts recorded on provisions for post-employment benefits will be realized
as the payments are made to the Copel Foundation or reversed according to new actuarial estimates;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif">- Amounts set up on the provisions for legal claims will be realized according
to court decisions or by the reversal when the possible risk of the shares is reviewed;</P>

<P STYLE="text-align: justify; margin: 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">- Amounts set up on the provision for impairment
of assets will be realized through the amortization and/or depreciation of the impaired asset;</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">- Amounts set up on the provision for purchase
of energy and&nbsp;charges of the main distribution and transmission grid&nbsp;will be realized upon the effective obligation of
the amounts provisioned or by the reversal of the provision;</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">- Amounts set up on the provisions for
R&amp;D and PEE will be realized through the expenses incurred in the projects carried out;</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">- Amounts recorded on the deemed cost will
be realized through the amortization and/or depreciation of the valued asset;</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">- Amounts&nbsp;related to the concession agreement will be realized over
the term of the agreement;</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="line-height: 20px">-&nbsp;</FONT><FONT STYLE="line-height: 18pt">Amounts
related to tax losses and negative tax basiswill be recovered by offsetting against future taxable income;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">-
Other amounts: realized when they meet the deductibility criteria provided for in tax legislation, or upon reversal of the recorded
amounts.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
projected realization of the deferred taxes is shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 69%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 16%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Assets</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Liabilities</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2020</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 329,177</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(96,763)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2021</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 258,853</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(98,388)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2022</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 143,599</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(91,131)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2023</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 136,665</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (102,510)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2024</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 84,208</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(80,290)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2025 to 2027</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 158,702</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (209,525)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2028 to 2029</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 957,751</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (672,148)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,068,955</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (1,350,755)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">13.1.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Unrecognized
tax credits</U></FONT></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">As of December 31, 2019, UEG Arauc&aacute;ria did not recognize income
tax and social contribution credits on income tax and social contribution tax losses in the amount of R$ 83,273 (R$ 34,567, as
of December 31, 2018) for not having, at that moment, reasonable assurance of generation of future taxable profits sufficient
to allow the utilization of these tax credits.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>13.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Other
taxes recoverable and other tax obligations</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Recoverable ICMS (VAT)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 103,977</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 96,072</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Recoverable PIS/Pasep and Cofins taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 98,942</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;64,200</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other recoverable taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,141</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">570</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 205,060</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>160,842</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Recoverable ICMS (VAT)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 74,568</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 50,306</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">PIS/Pasep and Cofins taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 213,667</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">147,380</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other recoverable taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 33,776</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 33,714</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 322,011</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>231,400</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">ICMS (VAT) payable&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 179,662</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">185,634</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">PIS/Pasep and Cofins payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;125,197</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">115,345</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">IRRF on JSCP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 117,807</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 23,687</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Special Tax Regularization Program - Pert</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 49,310</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 46,777</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Ordinary financing of taxes with the federal tax authorities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 18,063</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 64,974</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 11,029</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 15,016</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 501,068</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>451,433</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Social security contributions - injunction on judicial deposit</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 209,747</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">197,413</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Special Tax Regularization Program - Pert</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 447,897</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">471,665</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Ordinary financing of taxes with the federal tax authorities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 21,658</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">TCFRH (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">101,821</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,470</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,175</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 662,114</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>796,732</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) Control, Monitoring and Inspection Fee for Exploration Activities and the Use of Water Resources - as a result of the repeal of the law that instituted the referred fee, the Company, based on the opinion of its legal advisors, concluded that the conditions to maintain the provision were not satisfied and reversed the balance, so that R $ 97,664 was recorded in the operating result (Note 33.6) and R $ 4,157 in the financial result</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Sales and services revenues are subject to value-added tax (Imposto sobre Circula&ccedil;&atilde;o
de Mercadorias e Servi&ccedil;os or ICMS) and service tax (Imposto sobre Servi&ccedil;os or ISS), at the applicable rates, and
to the PIS (Social Integration Program) and COFINS (Contribution for Social Security Funding).</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">Credits resulting from non-cumulative PIS and COFINS charges are accounted
for as reductions to operating costs in the statement of income.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">Credits arising from non-cumulative ICMS, PIS and COFINS related to the
purchase of assets are presented as reductions to the acquisition cost of these assets.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Prepayments or amounts that can be
offset are presented in current and non-current assets, according to their expected realization.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">13.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Pis/Pasep
and Cofins credit on ICMS</U></FONT></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
final and unappealable ruling has been rendered in connection with the lawsuit through which Compag&aacute;s was claiming exclusion
of ICMS from the PIS/Pasep and Cofins tax bases. Due to this favorable ruling, the Company recorded the credit right of R$ 143,618
under Other Taxes Recoverable&nbsp;with corresponding entry of R$105,184 in operating revenue&nbsp;(Note 31.1) and R$ 38,434 in
financial income (Note 33.1).</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
addition, Copel DIS filed a writ of mandamus requesting the exclusion of the ICMS amount in the basis for calculating contributions
to Pis and Cofins. The referred process is in the final stage of appeals at the Supreme Court of Justice and the Company has been
obtaining favorable decisions in all previous stages of the process. The Company awaits the final and unappealable decision of
the lawsuit, the modulation of the effects by the Supreme Federal Court of Extraordinary Appeal n&ordm; 574,706, as well as the
final result of the Taking of Subsidies n&ordm; 005/2020 by ANEEL.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">13.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Special
Regime for Tax Regularization (PERT)</U></FONT></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Copel
DIS joined PERT in 2017, considering the benefits offered by the program in the face of the change in the CVA tax regime, from
a billing regime to an accrual basis. The payment of 20% of the debt occurred in 2017 and as of January 2018 the payment of the
balance began in 145 monthly installments of R$ 3,572, adjusted by the Selic rate. In December 2018, the Federal Revenue Service
of Brazil consolidated the debts presented by the Company, which has been paying its installments on time.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>13.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Reconciliation
of provision for income tax (IRPJ) and social contribution (CSLL)</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 55%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Income before IRPJ and CSLL</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,702,195</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,955,997</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,392,941</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>IRPJ and CSLL (34%)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (918,746)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (665,039)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (473,600)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Tax effects on:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Equity in income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 36,297</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 46,203</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 36,555</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Interest on own capital</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 222,848</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 98,917</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 90,440</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 192</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 280</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 497</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Non deductible expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(16,571)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (9,322)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(26,292)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Tax incentives</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 17,804</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 16,465</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 14,973</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Unrecognized income and social contribution tax loss carry-forwards</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(48,892)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(15,383)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (5,645)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Setting up and/or offset of income tax and social contribution losses of prior years</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,037</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 90,804</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Difference between the calculation bases of deemed profit and taxable profit</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 72,175</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 11,076</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(19,680)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Others</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (4,433)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (227)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 17,262</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current IRPJ and CSLL</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (433,555)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (580,065)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (379,943)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Deferred IRPJ and CSLL</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (205,771)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 68,072</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 105,257</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Effective rate - %</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">23.7%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">26.2%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">19.7%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>14</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Prepaid
Expenses</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Risk premium - GSF renegotiation (14.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 3,180</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">12,574</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Others</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 30,515</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">31,535</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 33,695</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>44,109</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 33,563</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>40,819</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 132</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,290</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>14.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Hydrological
risk renegotiation (GSF)</FONT></B></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">In accordance with Hydrological Risk Renegotiation Term and previously
mentioned regulations, the companies acquired the right to partially recover the cost with MRE (GSF) in 2015, in the amount of
R$ 33.55 per average MW of electricity for SP100 product class, based on the risk premium contracted by them (Note 4.9.2).</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">The amounts originally recognized on the renegotiation of the hydrological
risk were as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 18%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Power Plant</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Physical guarantee (Average MW)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Eligible amount of energy (Average MW)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amortization period<BR>of prepaid expenses</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Grant extension period (intangible asset)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Asset value to recover as renegotiation of GSF</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Value of prepaid expenses to amortize with future risk premium</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Value of intangible assets amortization over the concession period</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Mau&aacute;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">100.827</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">97.391</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">01.01.2016 to 06.30.2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">not applicable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 28,623</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">28,623</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Foz do Areia</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">576,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">226.705</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">01.01.2016 to 12.31.2016</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">05.24.2023 to 09.17.2023</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 66,628</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">17,222</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 49,406</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Santa Clara and Fund&atilde;o</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">135,400</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">134.323</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">01.01.2016 to 04.22.2019</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">10.25.2036 to 05.28.2037</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 39,369</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">30,326</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;&nbsp;9,043</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>458.419</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 134,620</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>76,171</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 58,449</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">A breakdown of these items as at December 31, 2019 and 2018 is presented
below:</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>January 01, 2018</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Transfers</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2018</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Transfers</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Risk premium - current asset</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 15,459</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (15,459)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 9,394</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,394</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(9,394)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 3,180</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,180</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Risk premium - noncurrent asset</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 12,574</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (9,394)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,180</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (3,180)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Intangible</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 45,745</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(7,038)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 38,707</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(7,040)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 31,667</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>73,778</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (22,497)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 51,281</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (16,434)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 34,847</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Risk premium to be amortized - prepaid expenses</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp;28,033</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 12,574</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>3,180</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Grant extension period - intangible</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 45,745</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 38,707</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 31,667</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>15</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Judicial
Deposits</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 69%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 16%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Taxes claims</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 351,402</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>369,423</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Labor claims</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 85,187</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 84,908</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Civil</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Civil</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 53,260</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 63,484</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Easements</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 5,076</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,280</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Customers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,897</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,861</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 60,233</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 68,625</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Others</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,368</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>5,334</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 504,190</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>528,290</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>16</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Investments</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>16.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in investments</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Investment/</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Advance for future</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Capital</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Amorti-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Dividends</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>January 1, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Equity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>capital increase</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;decrease</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>zation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>and JSCP</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Transfers</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Joint Ventures (16.3)</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Voltalia S&atilde;o Miguel do Gostoso I</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 110,568</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(3,409)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">2,940</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 110,099</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Voltalia S&atilde;o Miguel do Gostoso - direito de autoriza&ccedil;&atilde;o</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 10,405</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(367)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;10,038</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Caiu&aacute;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">74,639</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 4,800</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,127)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 78,312</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Integra&ccedil;&atilde;o Maranhense</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 129,684</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">11,316</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(2,284)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 138,716</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Matrinch&atilde;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 673,216</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">48,634</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (10,323)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 711,527</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Guaraciaba</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 356,941</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 18,312</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (34,300)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(3,876)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">337,077</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Parana&iacute;ba</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 160,584</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 16,375</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(2,986)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 173,973</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Mata de Santa Genebra</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">484,262</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(41,716)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 130,811</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">573,357</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Cantareira</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 317,523</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 28,031</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(7,286)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">338,268</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 2,317,822</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>82,343</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>133,751</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;(34,300)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (367)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(27,882)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 2,471,367</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Associates</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Dona Francisca Energ&eacute;tica (16.4)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 29,144</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 9,853</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (10,574)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">28,423</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Foz do Chopim Energ&eacute;tica (16.4)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 8,227</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 13,924</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(9,976)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 12,175</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Domin&oacute; Holdings</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 2,442</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (280)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (735)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(1,181)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">246</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 9,115</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 917</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 123</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 10,155</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>48,928</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>24,414</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>123</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (735)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (21,731)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>50,999</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Investment property</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 1,342</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (5)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (524)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 813</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Advance for future capital future capital increase (Note 1.2.1)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 142</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 133,597</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (133,739)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>-</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 2,368,234</B></FONT></TD>
    <TD STYLE="border-style: solid; border-top-width: 1pt; border-right-width: 1pt; border-bottom-width: 1.5pt; border-left-width: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 106,757</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 267,471</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;(35,035)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (372)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(49,613)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (134,263)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 2,523,179</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="text-align: left; margin: 0; background-color: white"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Investment/</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Effects of</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Advance for</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Proposed</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;applying</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>future capital</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Capital</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>dividends</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>new IFRS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Equity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>increase</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;decrease</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Amortization</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>and JCP</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(Note 17.1.1)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Other (a)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>December 31, 2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Joint Ventures (16.3)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Voltalia S&atilde;o Miguel do Gostoso I</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 74,998</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(3,964)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 39,534</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 110,568</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Voltalia S&atilde;o Miguel do Gostoso - authorization rights</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 10,773</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (368)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 10,405</FONT></TD></TR>
<TR STYLE="vertical-align: top">

    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Paran&aacute; G&aacute;s</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Costa Oeste</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 33,646</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,041</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(36,687)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Marumbi</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">85,341</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">6,971</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(92,312)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transmissora Sul Brasileira</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 64,360</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,161</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (65,521)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Caiu&aacute;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">56,037</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 5,034</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,324)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 14,892</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">74,639</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Integra&ccedil;&atilde;o Maranhense</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 113,401</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,238</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (2,022)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">9,067</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 129,684</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Matrinch&atilde;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 835,819</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 50,411</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(9,131)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (203,883)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 673,216</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Guaraciaba</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">418,320</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 35,321</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (4,328)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (92,372)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 356,941</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Parana&iacute;ba</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 162,273</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(16,510)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (2,976)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">17,797</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 160,584</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Mata de Santa Genebra</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">459,374</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (2,541)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 48,096</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,264</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (23,931)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">484,262</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Cantareira</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">200,018</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">24,564</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (35,280)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,461)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 129,682</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 317,523</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>2,514,363</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 112,723</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>87,630</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(35,280)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (368)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (17,978)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (148,748)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (194,520)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,317,822</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Associates</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Dona Francisca Energ&eacute;tica (16.4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">29,821</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,989</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (10,666)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">29,144</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Foz do Chopim Energ&eacute;tica (16.4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">13,084</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 13,214</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (18,071)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 8,227</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Domin&oacute; Holdings</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,457</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (15)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,442</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,556</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(23)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(427)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 9,115</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 54,918</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>23,165</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>9</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(28,737)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (427)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 48,928</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Investment property</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,362</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(5)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (15)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,342</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Other investments</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>142</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 142</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>2,570,643</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 135,888</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 87,781</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(35,280)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (373)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (46,715)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (148,748)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (194,962)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>2,368,234</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="10"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(a) Of the total, the amounts of R$ 36,687 and R$ 92,312 refers to investments that are now subsidiaries; R$ 65,521 refers to investment written off; R$ 427 from the sale of the associated company Dois Saltos Empreendimentos de Gera&ccedil;&atilde;o de Energia El&eacute;trica Ltda; and R$ 15 refers to the transfer to Other receivables</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">16.1.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Initial
adoption of IFRS 15</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Until December 31, 2017, Copel's joint
ventures classified the transmission infrastructure as a financial asset under the scope of IFRIC 12, measured at amortized cost.
The Companies recognized a remuneration rate during the construction period, which was remeasured after the start of commercial
operation, according to the investments made, and was fixed until the end of the concession.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">As of the initial adoption of IFRS 15, with the definition of fixed remuneration
at the beginning of the project, all changes that occurred in the construction period started to be immediately recognized in the
result and no longer diluted over the remaining term of the contract.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">The adjustment in Copel's shareholders' equity on January 1, 2018, resulting
from the remeasurement of the contract assets of its investees, was R$ 148,748, recognized through equity method. In the transition,
Copel and its investees opted to adopt the standard on the date of initial application as an adjustment to the opening balance,
in a shareholders' equity account, considering only open contracts prior to the application date, as provided for in IFRS 15.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>16.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Subsidiaries
with non-controlling interests</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">16.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Summarized
financial information</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Compag&aacute;s</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Elejor</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>UEG Arauc&aacute;ria</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>904,993</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 675,286</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 632,910</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>625,154</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 652,175</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 675,450</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>421,533</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 436,137</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 507,060</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Current assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 313,896</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 204,725</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">151,966</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 80,079</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 80,990</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 77,216</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">80,788</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 33,573</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 99,101</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Noncurrent assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 591,097</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">470,561</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 480,944</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">545,075</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 571,185</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 598,234</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">340,745</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 402,564</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 407,959</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>904,993</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 675,286</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 632,910</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>625,154</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 652,175</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 675,450</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>421,533</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 436,137</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 507,060</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Current liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 236,190</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">133,769</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 147,743</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 85,647</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">124,880</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 164,574</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 91,066</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">42,185</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 38,386</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Noncurrent liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 110,475</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">106,900</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">87,409</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">496,648</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">473,318</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 449,149</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 14,727</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 23,290</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 22,470</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Equity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">558,328</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">434,617</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 397,758</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 42,859</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 53,977</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 61,727</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 315,740</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 370,662</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 446,204</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;STATEMENT OF INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Operating revenues</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">866,884</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 588,532</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 515,563</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 218,421</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 293,942</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 291,597</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 52,216</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 524</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">129,084</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Operating costs and expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (662,306)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (515,594)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(309,213)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(86,237)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (89,931)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (93,230)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(131,596)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(94,970)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (121,883)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Financial results</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 43,186</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (2,411)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (25,612)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(92,728)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (89,301)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (54,254)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">832</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,275</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 5,302</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Equity in earnings of investees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 916</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (5,777)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (74,791)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(10,909)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (66,785)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (13,331)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(38,379)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (47,893)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (22,703)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 16,316</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; &nbsp;(7,098)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;Net income (loss)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>172,973</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 59,618</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 113,953</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 26,125</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>76,331</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>96,220</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (100,335)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(75,855)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(372)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (1,277)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 187</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (251)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 132</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;Total comprehensive income&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 171,696</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 59,805</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 113,702</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 26,125</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>76,331</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>96,220</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (100,203)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(75,855)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(372)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;STATEMENTS OF CASH FLOWS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Cash flows from operational activities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">54,760</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 66,017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 83,661</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">51,839</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 127,108</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 143,911</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (57,585)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(26,980)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(86,840)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Cash flows from investment activities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(17,531)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (15,961)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (14,268)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (314)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,659)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,461)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (1,945)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,768)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 118,460</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Cash flows from financing activities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 14,312</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (43,980)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (20,623)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(56,533)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (119,468)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(143,028)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 45,133</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;TOTAL EFFECTS ON CASH AND CASH EQUIVALENTS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>51,541</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>6,076</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>48,770</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (5,008)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,981</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (578)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (14,397)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(29,748)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 31,620</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Cash and cash equivalents at the beginning of the year</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 90,155</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 84,079</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">35,309</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 42,886</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 37,905</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 38,483</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 21,516</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">51,264</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">19,644</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Cash and cash equivalents at the end of the year</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 141,696</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 90,155</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">84,079</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 37,878</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 42,886</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 37,905</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 7,119</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 21,516</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">51,264</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;CHANGE IN CASH AND CASH EQUIVALENTS&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>51,541</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>6,076</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>48,770</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (5,008)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,981</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (578)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (14,397)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(29,748)</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 31,620</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">16.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Changes
in equity attributable to non-controlling shareholders</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Participation in capital stock</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Compag&aacute;s:&nbsp; 49%</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Elejor:&nbsp; 30%</B></FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>UEG Arauc&aacute;ria:&nbsp; 18.8%</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Balance as of January 1, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 146,818</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>23,910</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 89,316</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 260,044</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Net income (loss)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 55,837</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 28,866</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (74)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 84,629</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (123)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(123)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Deliberation of additional dividends proposed</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (11,053)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (11,053)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (7,631)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(23,205)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(30,836)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Balance as of December 31, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 194,901</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 18,518</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 89,242</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>302,661</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Net income (loss)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 29,213</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 22,899</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (15,171)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 36,941</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">91</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">63</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 154</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (11,243)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(25,224)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(36,467)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 212,962</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 16,193</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 74,134</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 303,289</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Net income (loss)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 84,758</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 7,838</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (19,673)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 72,923</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (626)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">25</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(601)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Deliberation of additional dividends proposed</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (3,335)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (3,335)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(23,514)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (7,838)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (31,352)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Gain with interest variation in Subsidiary</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 4,874</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 4,874</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>273,580</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12,858</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 59,360</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 345,798</B></FONT></TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>16.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Total
balances of the groups of assets, liabilities, profit or loss and equity interest in commitments and contingent liabilities of
the main joint venture</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Voltalia</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Caiu&aacute;</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Integra&ccedil;&atilde;o Maranhense</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Matrinch&atilde;</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Guaraciaba</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Parana&iacute;ba</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Mata de Santa Genebra</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Cantareira</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 226,898</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 271,409</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 486,305</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,295,925</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>1,318,517</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,625,008</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>2,482,326</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,496,577</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Current assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>3,664</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>30,472</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 59,466</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>301,722</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>150,875</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 178,558</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 268,381</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>182,971</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,494</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,968</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">6,570</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 85,293</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 44,805</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">20,338</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 48,395</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">60,252</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other current assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,170</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 26,504</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">52,896</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 216,429</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 106,070</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 158,220</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">219,986</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; &nbsp;122,719</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 223,234</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 240,937</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 426,839</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,994,203</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>1,167,642</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,446,450</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,213,945</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,313,606</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #ffffff; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 226,898</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 271,409</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 486,305</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,295,925</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>1,318,517</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,625,008</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>2,482,326</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,496,577</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Current liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>2,206</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>28,892</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 77,116</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>166,430</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 84,863</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 104,065</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 129,810</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 72,907</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 7,584</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 13,468</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 82,665</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 33,102</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">60,399</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 93,643</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 48,619</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other current liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,206</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 21,308</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">63,648</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 83,765</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">51,761</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">43,666</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">36,167</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">24,288</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Noncurrent liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>82,699</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 126,095</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 677,398</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 545,742</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 810,847</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,208,089</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 733,326</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49,958</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">78,350</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 624,779</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 461,353</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 580,451</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,208,089</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">507,775</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other noncurrent liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 32,741</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">47,745</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 52,619</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 84,389</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">230,396</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 225,551</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Equity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 224,692</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 159,818</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 283,094</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,452,097</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>687,912</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 710,096</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,144,427</B></FONT></TD>

    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 690,344</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #ffffff; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>STATEMENT OF INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Net operating income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 25,180</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">44,264</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 250,188</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 111,912</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 198,573</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 357,522</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 138,259</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Operating costs and expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(111)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(5,481)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (5,672)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (70,886)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (29,067)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (30,560)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(384,228)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (5,360)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Financial results</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">146</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (4,557)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (6,594)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (59,794)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (42,548)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (54,154)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (99,186)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (46,190)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Equity in income of subsidiaries</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (7,080)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (5,348)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (8,904)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(33,103)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,926)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (47,024)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 42,627</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (29,498)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Net income (loss)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (7,050)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>9,794</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 23,094</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 86,405</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 37,371</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 66,835</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (83,265)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 57,211</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (7,050)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>9,794</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 23,094</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 86,405</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 37,371</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 66,835</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (83,265)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 57,211</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Investment interest - %</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; &nbsp;&nbsp;49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">24.5</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">50.1</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Investment book value</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">110,099</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 78,312</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 138,716</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">711,527</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 337,077</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 173,973</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 573,357</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">338,268</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Voltalia</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Caiu&aacute;</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Integra&ccedil;&atilde;o Maranhense</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Matrinch&atilde;</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Guaraciaba</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Parana&iacute;ba</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Mata de Santa Genebra</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Cantareira</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 227,867</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 261,951</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 465,801</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,199,434</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,295,670</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,574,846</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,365,160</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,443,693</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Current assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,344</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>26,471</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 47,347</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>326,557</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 229,693</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 165,072</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 202,253</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 161,328</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">205</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,128</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">116,634</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 136,191</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 13,931</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 19,568</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">301</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other current assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,139</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 25,343</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 47,346</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 209,923</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 93,502</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 151,141</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 182,685</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">161,027</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 225,523</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 235,480</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 418,454</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,872,877</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,065,977</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,409,774</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,162,907</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,282,365</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 227,867</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 261,951</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 465,801</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,199,434</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,295,670</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,574,846</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,365,160</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,443,693</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Current liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,216</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>24,955</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 73,856</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 137,627</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 79,701</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 104,599</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 124,606</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 60,964</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">7,615</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">13,228</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 70,192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 27,950</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 55,968</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">33,964</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 46,329</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other current liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,216</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 17,340</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 60,628</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 67,435</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 51,751</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 48,631</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">90,642</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 14,635</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Noncurrent liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>84,672</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 127,284</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>687,897</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 487,520</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 814,798</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,273,962</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>734,724</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 57,028</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">91,342</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 683,316</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 482,125</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 612,854</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 934,650</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 532,179</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other noncurrent liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 27,644</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 35,942</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">4,581</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 5,395</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 201,944</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 339,312</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 202,545</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Equity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 225,651</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 152,324</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 264,661</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,373,910</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 728,449</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>655,449</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 966,592</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>648,005</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENT OF INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Net operating income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 25,129</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 42,379</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 272,103</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 181,665</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(14,331)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">514,591</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">195,441</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operating costs and expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (103)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (4,785)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (7,732)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(47,771)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (27,273)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (23,244)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(462,839)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (60,529)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial results</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (170)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (5,017)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(7,817)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(61,910)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (35,036)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (57,977)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (59,507)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (58,402)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Equity in income of subsidiaries</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (7,815)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (5,053)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (7,974)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (59,544)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (47,273)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 28,163</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,685</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (26,379)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Net income (loss)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(8,088)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>10,274</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>18,856</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 102,878</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>72,083</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(67,389)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(5,070)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>50,131</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(8,088)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>10,274</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>18,856</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 102,878</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>72,083</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(67,389)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(5,070)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>50,131</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Investment interest - %</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 24.5</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 50.1</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 49.0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Investment book value</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">110,568</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 74,639</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 129,684</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 673,216</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 356,941</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 160,584</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 484,262</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 317,523</FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Voltalia</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Transmissora Sul Brasileira</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Caiu&aacute;</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Integra&ccedil;&atilde;o Maranhense</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Matrinch&atilde;</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Guaraciaba</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Parana&iacute;ba</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Mata de Santa Genebra</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Cantareira</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Balance as of December 31, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 155,272</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 659,464</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 230,743</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 466,783</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,774,973</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,428,247</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,698,213</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,722,063</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 952,670</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Current assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,141</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 56,604</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 22,895</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>44,594</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>297,331</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>139,920</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 233,065</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 107,568</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 6,046</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 25,547</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,626</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,224</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">116,256</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 34,364</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 29,066</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 96,244</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 5,169</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other current assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,138</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">31,057</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 21,269</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">42,370</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">181,075</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 105,556</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 203,999</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 11,324</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 877</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Noncurrent assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>153,131</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 602,860</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 207,848</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 422,189</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,447,642</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,288,327</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,465,148</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,614,495</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 946,624</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 155,272</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 659,464</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 230,743</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 466,783</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 2,774,973</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,428,247</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,698,213</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,722,063</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 952,670</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Current liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>2,214</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 220,845</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 23,608</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 71,563</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>140,515</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>71,818</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 124,764</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 12,630</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 9,706</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 212,618</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 7,427</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 13,240</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 48,686</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 32,627</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">53,317</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other current liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,214</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 8,227</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 16,181</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">58,323</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 91,829</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">39,191</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">71,447</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">12,630</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">9,706</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Noncurrent liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 116,818</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 92,774</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 163,790</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 928,706</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>502,713</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>911,107</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 792,519</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 534,764</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 106,174</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 64,081</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 103,755</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">712,198</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 388,806</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 638,779</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 703,897</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 439,192</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other noncurrent liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">10,644</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 28,693</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">60,035</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 216,508</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">113,907</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 272,328</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 88,622</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">95,572</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Equity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 153,058</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>321,801</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>114,361</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 231,430</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,705,752</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>853,716</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 662,342</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>916,914</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 408,200</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENT OF INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Net operating income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 53,374</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,904)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (14,460)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 403,891</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 208,444</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 320,302</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">588,123</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">392,766</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operating costs and expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (113)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(63,752)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(5,194)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (4,245)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(183,660)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (93,369)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (150,984)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(434,779)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (347,771)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial results</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(26,994)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(6,017)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (9,070)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(47,331)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; &nbsp;(36,981)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (59,132)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (94,512)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (35,207)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Equity in income of subsidiaries</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,048)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">12,330</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 5,908</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">9,070</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (55,808)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (26,303)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (40,717)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (19,955)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,871)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Net income (loss)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (1,152)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (25,042)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (8,207)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (18,705)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>117,092</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>51,791</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>69,469</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 38,877</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 7,917</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (1,152)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (25,042)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (8,207)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (18,705)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>117,092</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>51,791</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>69,469</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 38,877</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 7,917</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Investment interest - %</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 20.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49.0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 24.5</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">50.1</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Investment book value</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">74,998</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 64,360</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 56,037</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">113,401</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 835,819</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 418,320</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">162,273</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 459,374</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 200,018</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">As
of December 31, 2019, Copel's share of commitments assumed relating to its joint ventures is equivalent to R$ 5,936 (R$ 81,263
as of December 31, 2018) and of contingent liabilities is equivalent to R$ 89,688 (R$ 40,324 as of December 31, 2018).</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>16.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Total
balances of the groups of assets, liabilities, profit or loss and equity interest in contingent liabilities of the main associates</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; text-align: right; border-bottom: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Dona Francisca</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Foz do Chopim</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;12.31.2019&nbsp;</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;12.31.2018</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;12.31.2017</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;12.31.2019&nbsp;</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;12.31.2018</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 130,883</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>134,141</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 138,079</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 61,635</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 106,736</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 61,163</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Current assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">13,406</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">12,493</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 10,304</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">31,054</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">73,786</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 21,553</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Noncurrent assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 117,477</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 121,648</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">127,775</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">30,581</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">32,950</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 39,610</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 130,883</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>134,141</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 138,079</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 61,635</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 106,736</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 61,163</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Current liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 4,344</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 4,231</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 4,144</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,354</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">57,603</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,808</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Noncurrent liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,118</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3,361</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 4,443</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">25,243</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">26,133</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 22,776</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Equity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 123,421</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 126,549</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">129,492</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">34,038</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">23,000</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 36,579</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENT OF INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Net operating income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">70,717</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">70,716</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 70,716</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">56,929</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">46,479</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 40,441</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operating costs and expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (25,957)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (25,268)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(30,379)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (16,278)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(2,020)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (21,124)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial income (expense)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 475</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 366</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 835</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 621</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(638)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 809</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(2,454)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(2,446)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,632)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(2,346)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(6,880)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,547)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Net income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 42,781</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>43,368</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>38,540</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>38,926</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 36,941</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>18,579</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 42,781</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>43,368</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>38,540</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>38,926</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 36,941</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>18,579</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Investment interest - %</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 23.0303</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 23.0303</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">23.0303</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 35.77</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 35.77</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 35.77</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Investment book value</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">28,423</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">29,144</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 29,821</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 12,175</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 8,227</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 13,084</FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As of December 31, 2019, Copel's interest
in the contingent liabilities of its associates is equivalent to R$ 78,793 (R$ 61,341 as of December 31, 2018).</P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>17</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Property,
Plant and Equipment</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company records assets used in
administrative and commercial facilities for generation of electric power and telecommunication services in property, plant and
equipment account. Investments in electric power transmission and distribution and in piped gas distribution are recorded in financial
assets and/or intangible assets accounts as per IAS 38, IFRS 15 and IFRIC 12. (Notes 4.4, 4.5 and 4.9).</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Upon initial adoption of IFRS, property,
plant and equipment were measured at fair value with recognition of their deemed cost.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Under
the regulation relating to the concession of public electric energy services, the assets and facilities used mostly in the generation
of power are attached to these services and cannot be withdrawn, sold, assigned, or mortgaged without the prior written consent
of the regulatory agency. ANEEL Resolution No. 691/2015, however, regulates the release of assets from the concessions of the Public
Electric Power Service, granting prior authorization to release the property and other fixed assets not usable by the concession
when they are destined for sale, and also determining that the sales proceeds less respective charges be deposited in a restricted
bank account to be invested in the concession.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Property,
plant and equipment by asset class</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Accumulated</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Accumulated</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>depreciation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>depreciation</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>In service</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Reservoirs, dams and aqueducts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">8,082,238</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (4,405,546)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,676,692</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">6,643,087</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (4,216,613)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,426,474</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Machinery and equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">8,875,458</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(2,871,568)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">6,003,890</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">5,648,292</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(2,674,150)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,974,142</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Buildings</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,962,033</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,054,009)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">908,024</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,500,990</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (1,021,783)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">479,207</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Land</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 490,071</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (27,651)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">462,420</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">375,286</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(18,184)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 357,102</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Vehicles and aircraft</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 47,960</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (44,876)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,084</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 47,744</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (41,978)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 5,766</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Furniture and tools</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">22,415</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (14,466)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 7,949</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 22,057</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (12,642)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,415</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(-) Impairment (17.7 and 17.8)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,042,499)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,042,499)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (3,489)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (3,489)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(-) Special Obligations</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (78)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 35</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (43)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (68)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 27</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (41)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;18,437,598</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (8,418,081)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 10,019,517</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;14,233,899</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(7,985,323)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 6,248,576</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>In progress</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Cost</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 700,172</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 700,172</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">5,789,780</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">5,789,780</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(-) Impairment (17.7 and 17.8)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (127,586)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (127,586)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,197,693)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,197,693)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 572,586</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 572,586</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 4,592,087</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 4,592,087</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 19,010,184</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (8,418,081)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 10,592,103</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;18,825,986</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(7,985,323)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;10,840,663</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in property, plant and equipment</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 34%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1px solid">
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Balance as of</B></P>
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif"><B>January 1, 2019</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1px solid">
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Additions /</B></P>
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Impairment</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1px solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Depreciation</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1px solid">
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Loss on</B></P>
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif"><B>disposal</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Transfers</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1px solid">
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Balance as of</B></P>
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif"><B>December 31, 2019</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>In service</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Reservoirs, dams and aqueducts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,426,474</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (188,334)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (42)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,438,594</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,676,692</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Machinery and equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,974,142</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (409,571)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (141,902)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,581,221</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 6,003,890</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Buildings</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 479,207</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(52,330)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 481,147</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 908,024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Land</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 357,102</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (9,466)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (463)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 115,247</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 462,420</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Vehicles and aircraft</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 5,766</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (3,482)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (128)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 928</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3,084</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Furniture and tools</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,415</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,007)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(9)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 550</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 7,949</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Impairment (17.7 and 17.8)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(3,489)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 61,112</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,100,122)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,042,499)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Special Obligations</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(41)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 8</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (10)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (43)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 6,248,576</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 61,112</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (665,182)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(142,544)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,517,555</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 10,019,517</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>In progress</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Cost</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 5,789,780</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 551,162</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(15,540)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (5,625,230)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 700,172</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Impairment (17.7 and 17.8)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1,197,693)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (30,015)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,100,122</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(127,586)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 4,592,087</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>521,147</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (15,540)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(4,525,108)</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 572,586</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>10,840,663</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 582,259</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (665,182)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;(158,084)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(7,553)</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>10,592,103</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions/ impairment</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Loss on</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Depreciation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>disposal</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Transfers</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: black; line-height: 18pt"><B>In service</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Reservoirs, dams and aqueducts</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,566,727</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(144,991)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,739</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,426,474</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Machinery and equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,665,935</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(199,846)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(61,959)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">570,012</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,974,142</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Buildings</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 510,923</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (35,932)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (500)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,716</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">479,207</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Land</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 262,378</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (2,897)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(83)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 97,704</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">357,102</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Vehicles and aircraft</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 10,342</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (4,484)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (392)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">300</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,766</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Furniture and tools</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,514</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,171)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(24)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,096</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,415</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(-) Impairment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (4,986)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,497</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (3,489)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(-) Special Obligations</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(38)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (12)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (41)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>6,016,795</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,497</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(389,312)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(62,959)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>682,555</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>6,248,576</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>In progress</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cost</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,023,013</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,455,318</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (5,491)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (683,060)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,789,780</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(-) Impairment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,210,358)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 12,665</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,197,693)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>3,812,655</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,467,983</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (5,491)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (683,060)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>4,592,087</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>9,829,450</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,469,480</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(389,312)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(68,450)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (505)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 10,840,663</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Costs
of loans, financing and debentures capitalized</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The costs of loans and financing and
debentures capitalized during 2019 of R$&nbsp;4,295, at an average rate of 0.11% p.a. (R$ 4,229, at an average rate of 0.11% p.a.
in 2018).</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">HPP
Col&iacute;der</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">On March 9, 2019, May 7, 2019 and December
21, 2019, two generation units of the power plant started their commercial power generation operations, respectively, according
to ANEEL Ordinances 673/2019, 1,273/2019 and 3,648/2019 both with installed power capacity of 100 MW.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As a result of unforeseeable circumstances
and force majeure, the power plant had its commercial start-up delayed, which was initially scheduled for January 2015. Copel GeT
submitted an application to ANEEL to exclude its responsibility, so that the obligation to supply energy could be postponed, which
was not accepted by the Agency. Copel GeT filed a common lawsuit with the Court on December 18, 2017 applying for a preliminary
injunction and requesting the reversal of the decision of the Agency. On April 6, 2018, the Federal Court of the 1st Region fully
granted the preliminary injunction required by Copel Get in the Interlocutory Appeal to exempt it from any burden, charges or restrictions
to the right arising from the delay in the implementation schedule of the Col&iacute;der<FONT STYLE="letter-spacing: -0.05pt">&nbsp;</FONT>HPP.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The contracted energy of the plant
is 125 MW mean, and in the period from January 1, 2019 to December 31, 2019, the physical guarantee calculated represents 109.22
MW&nbsp;mean, due to the partial start of commercial operation, which took place in March 2019. For prior periods, the contract
was fulfilled as follows:</P>

<P STYLE="text-align: justify; text-indent: -0.25in; margin: 6pt 0 6pt 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; line-height: 22px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">From
January 2015 to May 2016,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 20px">&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">with
suspension of energy delivery by operation because of the injunction obtained by Management;</FONT></P>

<P STYLE="text-align: justify; text-indent: -0.25in; margin: 6pt 0 6pt 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; line-height: 22px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">In
June 2016, with partial reduction through a bilateral agreement;</FONT></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 11pt; line-height: 22px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">From
July 2016 to December 2018, with reduction of all supply contracts of the CCEARs - Energy Trading Agreement in the Regulated Environment,
through a bilateral agreement and participation in the New Energy and Decrease Clearing Facility (</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8.5pt; line-height: 17px">"</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Mecanismo
de Compensa&ccedil;&atilde;o de Sobras e D&eacute;ficits de Energia Nova - MCSD-EN</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8.5pt; line-height: 17px">"</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">);
and</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.25in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 11pt; line-height: 22px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">From
January to March 2019, the firmed contracts in the regulated environment became effective again, however, energy supply continued
suspended, in light of the injunction obtained by Management.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Since
the trial on merits of the case is still outstanding, the contractual effects of both revenues and energy costs were recognized
during the period until&nbsp;December 31, 2019, in profit or loss for the period for purposes of backing the outcome.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Joint
operations - consortiums</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
amounts recorded under property, plant and equipment referring to the share of interest of Copel GeT in consortiums are shown
below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 43%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Joint operations</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Share Copel GeT (%)</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Annual average depreciation<BR>&nbsp;rate&nbsp; (%)</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>HPP Gov. Jayme Canet J&uacute;nior (Mau&aacute;) - Cons&oacute;rcio</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; Energ&eacute;tico Cruzeiro do Sul</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>51.0</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">In service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 859,917</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 859,917</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(-) Accumulated depreciation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.43</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (206,000)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (176,546)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">In progress</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 16,789</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 22,738</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 670,706</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 706,109</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>HPP Baixo Igua&ccedil;u (17.5.1)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>30.0</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">In service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 692,593</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(-) Accumulated depreciation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.27</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(19,038)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">In progress&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 49,240</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 717,599</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 722,795</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 717,599</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,393,501</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,423,708</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.5.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Cons&oacute;rcio
Empreendedor Baixo Igua&ccedil;u - Cebi</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Copel holds a 30% interest in Cons&oacute;rcio
Empreendedor Baixo Igua&ccedil;u - Cebi.&nbsp;The purpose of the consortium is to build and operate the project known as Baixo
Igua&ccedil;u Hydroelectric Plant, with installed capacity&nbsp;<FONT STYLE="letter-spacing: 0.2pt">of&nbsp;</FONT>350.2&nbsp;<FONT STYLE="letter-spacing: -0.15pt">MW&nbsp;</FONT>and
physical guarantee of 171.3&nbsp;<FONT STYLE="letter-spacing: -0.15pt">MW&nbsp;</FONT>mean, located on the Igua&ccedil;u River
between the municipalities of Capanema and Capit&atilde;o Le&ocirc;nidas Marques, and between the Governador Jos&eacute; Richa
Hydroelectric Plant and the Igua&ccedil;u National Park, in the State of Paran&aacute;. The plant is now 100% in commercial operation,
the start of commercial operation of units 1 and 2 occurred in February 2019, and unit 3 occurred in April<FONT STYLE="letter-spacing: -0.75pt">&nbsp;</FONT>2019.</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.6&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Cutia
wind farm project</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Cutia wind farm project, located in
the State of Rio Grande do Norte, is divided into two large complexes:</P>

<P STYLE="text-align: justify; text-indent: -0.25in; margin: 6pt 0 6pt 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Cutia
Complex: composed of seven wind farms (Guajiru, Jangada, Potiguar, Cutia, Maria Helena, Esperan&ccedil;a do Nordeste and Para&iacute;so
do Ventos do Nordeste), with 180.6 MW of total installed capacity, and 71.4 MW-mean of assured power. The complex has 86 wind turbines,
all in commercial operation.</FONT></P>

<P STYLE="text-align: justify; text-indent: -0.25in; margin: 6pt 0 6pt 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Bento
Miguel Complex: composed of six wind parks (S&atilde;o Bento do Norte I, S&atilde;o Bento do Norte II, S&atilde;o Bento do Norte
III, S&atilde;o Miguel I, S&atilde;o Miguel II and S&atilde;o Miguel III) with total installed capacity of 132.3 MW and 54.8 MW-mean
of assured power.&nbsp;The complex has 63 wind turbines, all in commercial operation.</FONT></P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.7&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Impairment
of generation segment assets</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Cash-generating
units of the generation segment were tested for impairment based on previous evidence of impairment, assumptions representing the
best estimates of the Company's management, the methodology provided for in Technical Pronouncement IAS 36 and measurement of value
in use.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
calculation of the value in use was based on discounted operating cash flows over the time of concessions, maintaining the Company&rsquo;s
current commercial conditions. The rate used to discount the cash flows was set considering the WACC (Weighted Average Cost of
Capital) methodology and CAPM (Capital Asset Pricing Model) methodology for the generation business, considering usual market parameters.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Internal
references such as the budget approved by the Company, historical or past data, updating of the timeframe of work and amount of
investments for projects in course support the design of key assumptions by Company Management. In the same framework, external
references such as level of consumption of electric power, expansion of the economic activity in Brazil and the availability of
water resources support the key information about estimated cash flows.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">A
number of assumptions used by Company Management when determining future cash flows can be affected by uncertain events, which,
in turn, may give rise to variation in results. Changes in the political and economic model, for example, may lead to upward trend
when projecting country risk-rating, increasing the discount rates used in tests.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
tests considered the following key assumptions:</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Growth
compatible with historical data and perspective for the Brazilian economy growth;</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Specific
after-tax discount rates for the segment tested, obtained through the methodology usually applied by the market, taking into consideration
the weighted average cost of capital;</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Projected
revenue in accordance with the agreements in force, without any expectation for renewal of concession/authorization; and</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 35.7pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -17.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Expenses
broken into cash generating units, projected in view of the budget approved by the Company.</FONT></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company considered all its generation projects as independent cash generating units.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
projects with impairment balances recorded at December 31, 2019 are the following:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 28%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="text-align: justify; margin: 0">&nbsp;</P>
        <P STYLE="text-align: center; margin: 0; font: 8pt/18pt Arial, Helvetica, Sans-Serif"><B>Property, Plant and Equipment&nbsp;</B></P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Value in use</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Cost</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Depreciation</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Impairment</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">HPP Col&iacute;der</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,473,886</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(75,917)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;&nbsp;&nbsp;(777,294)</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,620,675</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Wind power complex Cutia</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,253,371</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(59,214)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (54,104)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,140,053</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cons&oacute;rcio Tapaj&oacute;s (a)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 14,464</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (14,464)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Power plants in Paran&aacute;</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 970,923</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(53,762)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(237,576)</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">679,585</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,712,644</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (188,893)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(1,083,438)</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>3,440,313</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) Project under development</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company reviewed the recoverable amount of property, plant and equipment and, as a result of these analyses, the impairment changed
as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 27%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-width: 1pt; border-style: solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B><I>Impairment</I></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-width: 1pt; border-style: solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B><I>Impairment</I></B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Transfer</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Impairment</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>January 1, 2018</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2018</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>In service</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">UHE Col&iacute;der (17.7.1)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(45,547)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (731,747)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (777,294)</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Wind power complex Cutia (17.7.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">114,144</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (168,248)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(54,104)</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Wind power complex Bento Miguel (17.7.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 87,370</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (87,370)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Power plants in Paran&aacute;&nbsp; (17.7.3)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (4,986)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,497</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;(3,489)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(13,534)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (112,756)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (129,779)</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (4,986)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,497</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (3,489)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>142,433</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(1,100,121)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;(961,177)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>In progress</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">HPP Col&iacute;der (17.7.1)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(683,021)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(48,244)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (731,265)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (482)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">731,747</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;-</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Wind power complex Cutia (17.7.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(224,510)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 56,635</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (167,875)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (373)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">168,248</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Wind power complex Bento Miguel (17.7.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (98,231)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 13,610</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(84,621)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (2,749)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 87,370</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cons&oacute;rcio Tapaj&oacute;s</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (14,464)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(14,464)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(14,464)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Power plants in Paran&aacute;&nbsp; (17.7.3)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;(190,132)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (9,336)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (199,468)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(21,085)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">112,756</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (107,797)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,210,358)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 12,665</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,197,693)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(24,689)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,100,121</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (122,261)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,215,344)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 14,162</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,201,182)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>117,744</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,083,438)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.7.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>UHE
Col&iacute;der</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">In December 2019, the calculation of
value in use took into account the Company's assumptions and budgets and the discount rate after taxes in constant currency of
5.45% p.a. (in 2018, 5.36% p.a.), which derives from the WACC methodology for the electricity generation segment. Due to the postponement
of the start of operation of the first turbine to March 2019 (in 2018 it considered February 2019), and changes in the plant's
operating costs and CAPEX, an additional provision for losses was recognized.</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.7.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Cutia
Complex and Bento Miguel Complex</U></FONT></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; text-align: justify">In December 2019, the calculation of value in use took into
account the Company's assumptions and budgets and the discount rate after taxes in constant currency of 7.24% p.a. (in 2018, 7.13%
p.a.) which derives from the WACC methodology for the electric power generation segment, adjusted for the specific taxation condition
of each project.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 14pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-size: 10pt; color: windowtext; line-height: 20px">The
reversal observed in both wind farms is justified</FONT><FONT STYLE="font-size: 8.5pt; color: black; line-height: 17px">&nbsp;</FONT><FONT STYLE="font-size: 10pt; color: windowtext; line-height: 20px">especially
by the review of business plans, which generated a reduction in operating costs.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.7.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Plants
in the Paran&aacute; state</U></FONT></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
December 2019, the calculation of value in use of generation assets in the State of Paran&aacute; considered: (i) the Company's
assumptions and budgets; and (ii) discount rate after taxes in constant currency of 5.45% p.a. (in 2018, 5.36% p.a.), which derives
from the WACC methodology for the electricity generation segment. An additional provision for losses was recognized due to: (i)
postponement of the start-up of the Figueira plant to November 2020 (in 2018 it considered March 2019); (ii) changes in the plants'
operating costs and CAPEX.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.7.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Cash-generating
units that have suffered no impairment</U></FONT></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Plants
that have suffered no impairment have recoverable amount higher than the carrying amount of property, plant and equipment. The
following table shows the percentage by which the recoverable amount (&ldquo;RA&rdquo;) exceeds the carrying amount (&ldquo;CA&rdquo;)
of fixed assets. In addition, the Company carried out a sensitivity analysis, increasing the discount rate shown below by 5% and
10% to assess the risk of impairment of each plant.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Cash generating unit</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Discount rate</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>RA/CA-1</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>RA/CA-1&nbsp; (5% Variation)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>RA/CA-1&nbsp; (10% Variation)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Impairment Risk</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Wind power Assets</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Complex EOL S&atilde;o Bento (a)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.24%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9.09%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.77%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.52%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Complex EOL Brisa I (b)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.24%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">35.66%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">31.89%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">28.30%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Complex EOL Brisa II (c)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.24%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">36.07%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">31.69%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">27.54%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Thermal Assets</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">UEG Arauc&aacute;ria</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.76%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.00%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-2.04%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-4.01%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">11,412</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Hydric Assets</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Foz do Areia</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">217.22%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">215.52%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">213.85%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Segredo</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">205.09%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">200.80%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">196.60%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Caxias</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">153.49%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">149.69%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">145.98%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Guaricana</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">31.09%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">29.82%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">28.56%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Chamin&eacute;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">80.03%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">78.31%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">76.62%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Apucaraninha</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">38.17%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">36.77%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">35.39%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Chopim I</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">151.57%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">146.48%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">141.55%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">S&atilde;o Jorge</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.40%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-0.46%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-1.31%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">44</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Mau&aacute;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">83.84%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">79.69%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">75.68%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cavernoso II</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">17.10%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">14.23%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">11.47%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Bela Vista</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.45%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">66.92%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">54.22%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">42.31%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Elejor</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.00%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">48.34%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">44.52%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">40.85%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) Contemplates the GE Boa Vista, GE Farol, GE Olho D&rsquo;&Aacute;gua and GE S&atilde;o Bento do Norte wind farms.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(b) Contemplates the Nova Asa Branca I, Nova Asa Branca II, Nova Asa Branca III and Nova Eurus IV wind farms.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(c) Contemplates the Santa Maria, Santa Helena and Ventos de Santo Uriel wind farms.</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.8&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Property,
Plant and Equipment of Copel Telecomunica&ccedil;&otilde;es</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company's Management continuously monitors the business environment of the telecommunications segment, paying particular attention
to factors such as the increased competitiveness of the sector, the high degree of investment required to maintain its customer
base and the expected return from this segment.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Considering
that some of these factors directly influence the expectations of cash generation and expected return, in addition to Management's
decision to evaluate the disposal of the telecommunications segment, including the recent hiring of advisors for this purpose,
the Company reassessed the recovery indicators and, consequently, its estimates of the segment's property, plant and equipment
ability to continue to generate future economic benefits. Given this new business environment, Management concluded that it is
necessary to record estimated losses and to recognize losses due to the decommissioning of equipment and services, specifically
for some asset groups, considering new information and also the Company's experience in managing this segment.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
December, 31, 2019, estimated impairment losses of R$ 87,399 were recorded (Note 32.4) together with R$ 124,067 related to write-offs
and remeasurement of values due to the decommissioning of assets (Note 32.6). The&nbsp;calculation&nbsp;of&nbsp;value in use considered
the Company's premises and budgets and discount rate after taxes in constant currency of 6.57% p.a.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.9&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">New
plants under construction</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.9.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>SHPP
Bela Vista</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">With
estimated investment of R$ 200,000, this small hydroelectric power plant (SHPP), with installed capacity of 29.4 MW and physical
guarantee of 18.4 MW mean, will be built on the Chopim River, in the municipalities of S&atilde;o Jo&atilde;o and Ver&ecirc;, located
in the southwest region of the state of Paran&aacute;.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
participation in the A-6 auction held on August 31, 2018 led to sale of 14.7 MW mean in regulated contracts at the original price
of R$ 195.70/MWh. The energy sale contracts provide for beginning of energy supply on January 1, 2024, with a 30-year term and
annual adjustment by reference to IPCA variation.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
works started in August 2019, and the three-generating units are expected to start operating in February, March and April 2021,
respectively.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.9.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Janda&iacute;ra
Wind Complex</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">With
estimated investment of R$ 400,000, this wind farm, with installed capacity of 90.1 MW and physical guarantee of 47.6 MW mean,
will be built in the municipalities of Pedra Preta and Janda&iacute;ra, in the state of Rio Grande do Norte.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
participation in the new power generation auction A-6, held on October 18, 2019, led to sale of 14.4 MW mean in regulated contracts
at the original price of R$ 98.00/MWh. The energy sale contracts provided for beginning of energy supply on January 1, 2025, with
a 20-year term and annual adjustment by reference to IPCA variation.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
works are expected to start in May 2020, and the wind farm is expected to start operating between May 2022 and July 2022, on a
phased basis, by wind turbine.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>17.10&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Depreciation
rates</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Depreciation rates (%)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Average generation segment rates (Note 17.10.1)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">General equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 6.33</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.25</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Machinery and equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 3.67</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.56</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Generations</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 3.38</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.34</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Reservoirs, dams and ducts</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2.50</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.21</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Hydraulic turbines</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2.89</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.60</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Gas and steam turbines</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2.00</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.00</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Water cooling and treatment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 4.00</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.00</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Gas conditioner</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 4.00</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.00</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Wind power plant unit</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 5.49</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;3.71</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Average rates for central government assets</B></FONT></TD>

    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Buildings</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 3.35</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.35</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Machinery and office equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 6.25</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.25</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Furniture and fixtures</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 6.25</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.25</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Vehicles</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 14.29</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 14.29</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Telecommunications segment rates (Note 17.10.2)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Infrastructure&nbsp;<I>backbone</I></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;3% to 5%</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;3% to 5%</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Infrastructure&nbsp;<I>last mile</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;17% to 25%</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;3% to 17%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other infrastructure equipment</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;7% to 20%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;7% to 20%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.10.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Assets
with depreciation rates limited to the concession term</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The assets of the original project
of the Mau&aacute;, Col&iacute;der, Baixo Igua&ccedil;u, Cavernoso II and SHPP Bela Vista plants, of Copel GeT, and of the Santa
Clara and Fund&atilde;o plants, of Elejor, are considered by the Granting Authority, without full guarantee of indemnification
for their residual value at the end of the concession term. This interpretation is based on the Concessions Law No. 8,987/1995
and Decree No. 2,003/1996, which regulate the generation of electricity by independent generators.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Accordingly, from the entry into operation
of these assets, depreciation is recognized at the rates determined by ANEEL, over the concession period.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As provided for in the concession contracts,
subsequent investments not foreseen in the original project, as long as approved by the Granting Authority and not yet amortized,
will be indemnified at the end of the concession period and depreciated at the rates established by ANEEL, as from the date of
their entry in operation.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">17.10.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Telecommunications
segment assets</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
2019, the Company's Management deemed it necessary to reassess the estimated useful life of assets directly related to customer
service (last mile). Considering the new business environment and the movement of the customer portfolio, Management decided to
revise the depreciation rates, observing in a more predominant way the commercial obsolescence, resulting from changes in the market
in which the telecommunications business is inserted. In this context, the main changes impacted the machinery and equipment asset
classes.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
changes were treated prospectively as of October 2019 and added the depreciation share, with an&nbsp;impact of approximately R$
15,688 in 2019 income statement.</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>18</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Intangible
assets</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 78%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Concession agreement - distribution of electricity (18.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 5,703,686</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 5,390,063</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Generation concession agreements/ authorization (18.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 582,671</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp; 593,852</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Concession agreement - piped gas distribution (18.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,619</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Others (18.4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46,254</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41,563</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 6,332,611</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 6,029,097</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>18.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Power
distribution service concession</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="border-top: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Intangible asset</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Special liabilities</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>in service</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>in progress</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>in service</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>in progress</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 7,907,965</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 714,446</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (2,845,438)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(26,100)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 5,750,873</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transfers to accounts receivable related to concession (Note 11.1)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(714,446)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 26,100</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (688,346)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Capitalizations for intangible in service (Note 11.1)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;775,701</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (107,679)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 668,022</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Amortization of quotas - concession (a)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(431,963)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 130,388</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (301,575)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Amortization of quotas - PIS/Pasep and Cofins credits</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(10,813)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (10,813)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Loss on disposal</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (28,098)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(28,098)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 8,212,792</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (2,822,729)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 5,390,063</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Incorporations (Note 10.1)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 2,625</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(2,550)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 75</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transfers from contract assets (Note 11.1)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 771,844</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (93,164)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 678,680</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transfers to investments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (7)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(7)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transfers to other receivables</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (1,520)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,520)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Amortization of quotas - concession (a)</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(461,370)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 134,864</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (326,506)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Amortization of quotas - PIS/Pasep and Cofins credits</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (10,740)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(10,740)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Loss on disposal</FONT></TD>
    <TD STYLE="background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (26,359)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(26,359)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 8,487,265</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (2,783,579)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 5,703,686</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="11"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(a) Amortization during the concession as of the start of commercial operations of the enterprises or based on the useful life of the assets, of the two the shortest.</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
accordance with IFRIC 12 - Service Concession Arrangements, the portion of infrastructure that will be used during concession
was recorded in intangible assets, net of special obligations.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Special Obligations represent the resources related to the financial participation of consumers, the Federal, State and Municipal
Governments, destined to investments in projects related to the concession, and are not onerous liabilities or shareholder credits.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>18.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Generation
concession agreements</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="text-align: right; margin: 0">&nbsp;</P>
        <P STYLE="text-align: right; margin: 0; font: 8pt/18pt Arial, Helvetica, Sans-Serif"><B>Concession contract (a)</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Concession and</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>in service</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;in progress</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>authorization rights</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 236,443</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>6,977</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 375,801</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 619,221</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">ANEEL grant - use of public property</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">302</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 302</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Business combination</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,845</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">
        <P>&nbsp;</P>
        <P STYLE="text-align: right; margin: 0; font: 8pt/18pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp; 4,845</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization of quotas - concession and authorization (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(17,311)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (13,205)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(30,516)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Capitalizations for intangible in service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7,279</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (7,279)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 226,411</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 367,441</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 593,852</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Business combination effects (Note 1.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">20,113</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 20,113</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization of quotas - concession and authorization (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(16,944)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;(14,350)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(31,294)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 209,467</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 373,204</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 582,671</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) Includes the balances of use of public asset and hydrological risk renegotiation</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(b) Amortization during the concession/authorization as of the start of commercial operations of the enterprises.</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>18.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Piped
gas distribution service concession</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 65%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: 18pt">.</FONT></TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>in service</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;in progress</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>24,417</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 19,471</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>43,888</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers to accounts receivable related to concession (Note 11.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (19,471)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (19,471)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Capitalizations for intangible in service (Note 11.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,042</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,042</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization of quotas - concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (22,759)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (22,759)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (81)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(81)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,619</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,619</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from accounts receivable - concessions (Note 10.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">24,835</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">24,835</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization of quotas - concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (28,454)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (28,454)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>18.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Other
intangible assets</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 63%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>in service</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;in progress</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>22,693</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 16,149</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 38,842</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Effect of acquisition of control of Costa Oeste and Marumbi</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 37</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 37</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Acquisitions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7,589</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 7,589</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from property, plant and equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 112</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,979</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2,091</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Capitalizations for intangible in service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 9,448</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (9,448)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization of quotas (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (6,410)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(6,410)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization of quotas - PIS/Pasep and Cofins credits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (23)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (23)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (190)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (373)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(563)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>25,630</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 15,933</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 41,563</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Acquisitions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,032</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 5,032</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Transfers from property, plant and equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,471)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 10,217</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 8,746</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Capitalizations for intangible in service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">16,118</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (16,118)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization of quotas (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (8,646)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(8,646)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization of quotas - PIS/Pasep and Cofins credits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (11)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (11)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loss on disposal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (430)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(430)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>31,620</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 14,634</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 46,254</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) Annual amortization rate: 20%.</FONT></TD></TR>
</TABLE>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>19</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Payroll,
Social Charges and Accruals</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 76%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Social security liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Taxes and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 47,022</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 54,653</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Social security charges on paid vacation and 13th salary</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">29,182</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 30,010</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>76,204</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>84,663</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Labor liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Payroll, net</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,330</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,308</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Vacation and 13th salary</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 98,648</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">101,327</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Provisons for profit sharing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 156,040</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 91,526</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Voluntary retirement program</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,820</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">5,349</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 260,840</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>199,516</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 337,044</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 284,179</B></FONT></TD></TR>
</TABLE>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>20</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Accounts
Payable to Suppliers</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 78%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Energy supplies</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 1,085,777</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 819,792</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Materials and supplies</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">520,647</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 384,300</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Natural gas for resale</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">79,174</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">95,478</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Charges for use of grid system</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 187,595</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 169,629</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>1,873,193</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>1,469,199</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 1,685,280</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>1,419,243</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 187,913</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>49,956</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>21</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Loans
and Financing</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Contractual</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Effective</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Issue</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Number of</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Final</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Payment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>financial</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>interest</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Contract</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Contracts</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Company</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Allocation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Guarantees</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Date</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>installment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>maturity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>of charges</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>charges p.y.</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>rate p.y.</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>amount</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>FOREIGN CURRENCY</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;National Treasury Department (STN -&nbsp;Secretaria do Tesouro Nacional)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Par Bond</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Debt negotiation</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: left; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Guarantees deposited&nbsp; (21.1).</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;05.20.1998</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">04.11.2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Half-yearly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">6.0% + 0.20%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">6.0% + 0.20%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 17,315</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">64,325</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 61,837</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Discount Bond</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">05.20.1998</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">04.11.2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Half-yearly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">3.5% + 0.20%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">3.5% + 0.20%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 12,082</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">44,658</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 42,914</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Total foreign currency</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 108,983</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 104,751</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>LOCAL CURRENCY</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Banco do Brasil</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">CCB 330.600.773</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel DIS</FONT></TD>
    <TD ROWSPAN="8" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Working capital.</FONT></TD>
    <TD ROWSPAN="8" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Credit assignment.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">07.11.2014</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">07.11.2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Half-yearly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">111.8% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">111.8% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 116,667</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 40,173</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">CFX 17/35959-7</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel DIS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">05.16.2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">05.06.2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 75,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 38,262</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">CCB 21/00851-5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel DIS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">06.30.2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">06.13.2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 38,889</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 19,644</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">CCB 17/35960-0</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel DIS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">07.27.2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">07.17.2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 50,333</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 51,681</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">CFX 17/35958-9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel DIS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">08.15.2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">08.05.2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 58,333</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 59,366</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">NCI 330.600.132</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel HOL</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">02.28.2007</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">02.28.2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Half-yearly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">107.8% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">107.8% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 231,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 78,735</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">CCB 306.401.381</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel HOL</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.19.2019</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">03.25.2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">120.00% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">126.99% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 640,005</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 640,530</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 648,953</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">NCI 306.401.445</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel HOL</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">02.24.2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">02.15.2020</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Half-yearly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">124.5% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">136.15% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 77,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">39,446</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 79,225</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 679,976</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,016,039</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Eletrobras</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">981/95</FONT></TD>
    <TD ROWSPAN="7" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel DIS</FONT></TD>
    <TD ROWSPAN="5" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">National Program for Watering - Proni.</FONT></TD>
    <TD ROWSPAN="7" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: left; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Own revenue; issue of promissory notes and commercial duplicates.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.22.1994</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">80</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">08.15.2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">1,169</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 49</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">982/95</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.22.1994</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">80</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.15.2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">1,283</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 24</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">983/95</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.22.1994</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">80</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.15.2020</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 11</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">26</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 51</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">984/95</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.22.1994</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">80</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.15.2020</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 14</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 22</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">985/95</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.22.1994</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">80</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">08.15.2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Quarterly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">8.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 61</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 17</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">206/07</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Rural Electricity Program -&nbsp;Luz para Todos.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">03.03.2008</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">120</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">08.30.2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">5.0%+ 1.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">5.05%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 109,642</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 5,953</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 14,882</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">273/09</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">02.18.2010</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">120</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.30.2022</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">5.0%+ 1.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">5.0%+ 1.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 63,944</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 4,933</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">6,577</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>10,934</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 21,622</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Caixa Econ&ocirc;mica Federal</B></FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1px solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1px solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="text-align: center; margin: 0">&nbsp;</P>
        <P STYLE="text-align: center; margin: 0; font: 7pt/18pt Arial, Helvetica, Sans-Serif">Copel DIS</P></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-top: 5pt; padding-bottom: 5pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Rural Electricity Program -&nbsp;Luz para Todos.</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: left; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Own revenue; issue of promissory notes and commercial duplicates.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">415.855-22/14</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">03.31.2015</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">120</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.08.2026</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">6.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">6.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 16,984</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">13,410</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 15,298</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">3153-352</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: left; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Acquisition of machinery, equipment and IT and automation equipment.</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1px solid; border-bottom: rgb(0, 0, 0) 1px solid; text-align: left; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Assignment of trade notes receivable.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">11.01.2016</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">36</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">12.15.2021</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">5.5 % above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">5.5 % above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">1,156</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 331</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 496</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>13,741</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 15,794</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Finep</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">21120105-00</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel Tel</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">BEL project - ultra wide band intranet service (Ultra Wide Band - UWB).</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: left; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Lock of proceeds received in current account.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">07.17.2012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">81</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">10.15.2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">4.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">4.39%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 35,095</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 2,626</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">5,778</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">21120105-00</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">07.17.2012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">81</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">10.15.2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">3.5% + TR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">3.88% + TR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp; 17,103</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 2,219</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">4,881</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,845</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; 10,659</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Payment of the first installment of debentures and cash enhancement of Copel Get.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Promissory notes</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel GeT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Surety of Copel.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">05.12.2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">05.12.2019</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Single installment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">117% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">117% of DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 500,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 572,419</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 572,419</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>Banco do Brasil - BNDES Transfer</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">21/02000-0</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Copel GeT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Implementation of Mau&aacute; HPP.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: left; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Revenue from energy sales from the plant.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">04.16.2009</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">179</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">01.15.2028</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">2.13% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">2.13% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 169,500</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">95,807</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt">&nbsp;&nbsp; 107,324</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp; &nbsp;&nbsp;95,807</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; line-height: 18pt"><B>&nbsp;&nbsp; 107,324</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(continued)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
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    <TD STYLE="width: 5%; text-align: right">&nbsp;</TD>
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<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Contractual</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Effective</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Issue</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Number of</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Final</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Payment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>financial</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>interest</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Contract</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Contracts</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Company</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Allocation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Guarantees</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Date</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>installment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>maturity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>of charges</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>charges p.y.</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>rate p.y.</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>amount</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>BNDES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">820989.1</FONT></TD>
    <TD ROWSPAN="8" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Copel GeT</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of Mau&aacute; HPP.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Revenue from energy sales from the plant.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">03.17.2009</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">179</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">01.15.2028</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.63% above TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.63% above TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">169,500</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 95,807</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 107,326</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1120952.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of transmission line between Foz do Igua&ccedil;u and Cascavel Oeste substations.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Assignment of receivables; revenue from energy transmission services.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.16.2011</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">168</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">04.15.2026</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.82% and 1.42% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.82% and 1.42% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">44,723</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 21,090</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 24,344</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1220768.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of Cavernoso II SHP.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Revenue from energy sales from the plant.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">09.28.2012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2029</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.36% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.36% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">73,122</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 46,240</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 50,908</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">13211061</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of Col&iacute;der HPP.</FONT></TD>
    <TD ROWSPAN="5" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Assignment of receivables</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.04.2013</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.15.2031</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">0% and 1.49% above TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6.43% and 7.68%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 1,041,155</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 817,329</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 844,940</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">13210331</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of Cerquilho III substation.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.03.2013</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">168</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">08.15.2028</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.49% and 1.89% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.49% and 1.89% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">17,644</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 11,385</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 12,659</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">15206041</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of transmission line Assis - Paragua&ccedil;u Paulista II.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.28.2015</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">168</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.15.2030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.42% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">9.04%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">34,265</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 22,419</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 24,477</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">15205921</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of transmission lines Londrina - Figueira and Salto Os&oacute;rio - Foz do Chopim.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.28.2015</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">168</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.15.2029</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.32% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8.93%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">21,584</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 13,526</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 14,832</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">18205101</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of Baixo Igua&ccedil;u HPP.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11.22.2018</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.15.2035</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.94% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8.50%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">194,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 196,827</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 162,229</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">14205611-A</FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Copel DIS</FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1px solid; border-bottom: rgb(0, 0, 0) 1px solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Preservation of business, improvements, operating support and general investments in the expansion and consolidation of projects and social investment programs of companies (ISE).</FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Surety of Copel; assignment of revenues and indemnity rights under the concession.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.15.2014</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">72</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">01.15.2021</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.09% above TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8.37%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">41,583</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 7,611</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 14,591</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">14205611-B</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.15.2014</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">02.15.2021</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Annual</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.09 above TR BNDES</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.09 above TR BNDES</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">17,821</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 8,288</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 11,992</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">14205611-C</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.15.2014</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">113</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.15.2024</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">78,921</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 35,267</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 43,097</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">14205611-D</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.15.2014</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">57</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">02.15.2021</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp;&nbsp; 750</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">20</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">14.2.1271.1</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Santa Maria</FONT></TD>
    <TD ROWSPAN="7" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Construction and implementation of wind generating plants.</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Surety of Copel; pledge of shares; assignment of receivables and revenues.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.01.2015</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">08.15.2031</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.66% above TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8.26%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">71,676</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 45,582</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 49,336</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">14.2.1272.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Santa Helena</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.01.2015</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">08.15.2031</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.66% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8.26%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">82,973</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 49,458</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 53,531</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11211521</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">GE Farol</FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Pledge of shares; assignment of receivables from energy sales from the project; assignment of machinery and equipment.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">03.19.2012</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.15.2030</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.34% above TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.34% above TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">54,100</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 41,388</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 45,158</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11211531</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">GE Boa Vista</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">03.19.2012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.15.2030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.34% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.34% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">40,050</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 30,598</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 33,385</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11211541</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">GE S.B. do Norte</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">03.19.2012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.15.2030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.34% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.34% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">90,900</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 69,394</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 75,715</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11211551</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">GE Olho D'&Aacute;gua</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">03.19.2012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.15.2030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.34% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.34% above TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">97,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 74,112</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 80,862</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">18204611</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Cutia</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Pledge of shares; assignment of receivables.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.25.2018</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2035</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.04% above TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8.37%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">619,405</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 611,457</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 517,083</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">13212221 - A</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Costa Oeste</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of transmission line between Cascavel Oeste and Umuarama Sul substations and implementation of Umuarama Sul substation.</FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Assignment of receivables; 100% of pledged shares.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.03.2013</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">168</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11.30.2028</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.95% + TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1.95% + TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">27,634</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 19,203</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 21,291</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">13212221 - B</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.03.2013</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">106</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">09.30.2023</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3.5%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3.5%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">9,086</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 2,992</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 3,789</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">14205851 - A</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: center; margin: 0; font: 7pt Arial, Helvetica, Sans-Serif; color: #000000">Marumbi</P>
        <P STYLE="text-align: center; margin: 0">&nbsp;</P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of transmission line between Curitiba and Curitiba Leste and implementation of Curitiba Leste substation.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.08.2014</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">168</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.30.2029</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.00% + TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2.00% + TJLP</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">33,460</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 24,627</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 27,134</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">14205851 - B</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.08.2014</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">106</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">04.30.2024</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">21,577</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 9,813</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 12,076</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,254,424</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,230,775</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Total local currency</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 3,059,727</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 3,974,632</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;Gross debt</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 3,168,710</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,079,383</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>(-) Transaction cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>(26,327)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>(32,076)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Net debt</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 3,142,383</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,047,307</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>255,521</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,113,047</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,886,862</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,934,260</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>DI - Interbank Deposit Rate</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA - Inflation Index (&Iacute;ndice Nacional de Pre&ccedil;os ao Consumidor Amplo, in Portuguese)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>TJLP - Long-term interest rate</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="13"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>TR - Referential Rate</B></FONT></TD></TR>
</TABLE>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>21.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Collateral
and Escrow deposits&ndash; STN</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 14.15pt 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Constitution
of guarantees, in the form of a cash guarantee, Par Bond, in the amount of R$ 57,968 (R$&nbsp;52,717 at December 31, 2018), and
Discount Bond, in the amount of R$ 40,465 (R$ 36,838 at December 31, 2018) intended to the repayment of the amount of principal
related to the STN contracts, upon maturity on April 11, 2024. The amounts are adjusted by applying the weighted average of the
percentage changes of the Zero Coupon Bond prices of the United States of America Treasury, by the percentage share of each series
of the instrument in the portfolio of collateral for repayment of principal, constituted pursuant to the Brazilian Financing Plan
of 1992.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>21.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Breakdown
of loans and financing by currency and index</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 58%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>%</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Foreign currency - change in currencies in the period (%)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">U.S. Dollar</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.02</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 108,983</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3.47</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 104,751</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.59</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;&nbsp; 108,983</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>3.47</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;&nbsp; 104,751</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>2.59</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Local currency - indexes at period end (%)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.57</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 2,271,187</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp; 72.30</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 2,245,786</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp; 55.49</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">CDI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.40</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 676,720</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp; 21.54</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 1,410,479</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp; 34.85</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">TR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 2,202</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.07</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,842</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.12</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4.31</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 8,288</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.26</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp; 11,992</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.30</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Without indexer (annual fixed rate)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp; 75,003</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2.36</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;&nbsp; 269,457</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.65</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;&nbsp; 3,033,400</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp; 96.53</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;&nbsp; 3,942,556</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp; 97.41</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;&nbsp; 3,142,383</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;&nbsp; 100.00</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;&nbsp; 4,047,307</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;&nbsp; 100.00</B></FONT></TD></TR>
</TABLE>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>21.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Maturity
of noncurrent installments</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 56%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 17%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Gross debt</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(-) Transaction cost</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Net debt</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2021</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 706,500</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (2,781)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 703,719</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2022</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 319,580</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (2,061)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 317,519</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2023</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 191,584</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,618)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 189,966</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2024</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 295,366</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,625)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 293,741</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2025</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 185,009</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;(1,622)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 183,387</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">After 2025</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,211,911</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(13,381)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,198,530</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,909,950</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(23,088)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 2,886,862</B></FONT></TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>21.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in loans and financing</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 56%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 17%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Foreign currency</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Local currency</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 89,270</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>3,670,235</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 3,759,505</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Effect of acquisition of control of Costa Oeste and Marumbi</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 66,775</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 66,775</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Funding</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,314,766</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,314,766</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Charges&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 5,038</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 289,365</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">294,403</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Monetary and exchange variations</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 15,161</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 11,936</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 27,097</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization - principal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,126,144)</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(1,126,144)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payment - charges</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(4,718)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (284,377)</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (289,095)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 104,751</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>3,942,556</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 4,047,307</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Funding</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 796,296</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">796,296</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Charges&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 5,599</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 268,950</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">274,549</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Monetary and exchange variations</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 4,170</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,907</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;11,077</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization - principal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,660,869)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(1,660,869)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payment - charges</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(5,537)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (320,440)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(325,977)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 108,983</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>3,033,400</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 3,142,383</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>21.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Covenants</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 14.15pt 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company signed loans
and financing agreements containing covenants that require economic and financial ratios to be maintained within pre-determined
parameters, requiring annual fulfillment and other conditions to be complied with, such as not changing the Company's interest
in the capital stock of subsidiaries that would represent change of control without prior consent.&nbsp;Failing to fulfill these
conditions may lead to accelerated debt repayment and/or fines.</P>

<P STYLE="text-align: justify; margin: 6pt 14.15pt 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As of December 31, 2019,
the Company is in compliance with all covenants.</P>

<P STYLE="text-align: justify; margin: 6pt 14.15pt 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The financial covenants
contained in the agreements are presented below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 44%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 25%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 26%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 5%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Company</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Contract</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Annual financial index</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Limit</B></FONT></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Copel GeT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 820989.1 - Mau&aacute;</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">EBITDA /&nbsp; Net financial results</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&ge; 1.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Banco do Brasil No. 21/02000-0 - Mau&aacute;</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Copel DIS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 14205611</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial indebtedness / adjusted EBITIDA</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&le; 4.0</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Santa Maria</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 14212711</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debt service coverage ratio</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&ge; 1.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Santa Helena</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 14212721</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">S&atilde;o Bento Energia, Investimento e Participa&ccedil;&otilde;es</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Assignment Agreement</FONT></TD>
    <TD ROWSPAN="5" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debt service coverage ratio</FONT></TD>
    <TD ROWSPAN="5" STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&ge; 1.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">GE Boa Vista S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 11211531</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">GE Farol S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 11211521</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">GE Olho D&acute;&Aacute;gua S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 11211551</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">GE S&atilde;o Bento do Norte S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 11211541</FONT></TD></TR>
<TR>
    <TD STYLE="border-top: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Cutia</FONT></TD>
    <TD STYLE="border-top: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 18204611</FONT></TD>
    <TD STYLE="border-top: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debt service coverage ratio (a)</FONT></TD>
    <TD STYLE="border-top: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&ge; 1.2</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Costa Oeste</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 13212221</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debt service coverage ratio</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&ge; 1.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Marumbi</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">BNDES Finem No. 14205851</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debt service coverage ratio</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&ge; 1.3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financing for businesses - Finem</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(a) financial ratio calculated based on the amounts of the consolidated financial statements of Cutia Empreendimentos E&oacute;licos S.A.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0 0 10pt">&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>22</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Debentures</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="14" STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">
        <P STYLE="text-align: center; margin: 0">&nbsp;&nbsp;</P>
        <P STYLE="text-align: right; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 5%; border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; background-color: white; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 5%; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Issue</B></FONT></TD>
    <TD STYLE="width: 5%; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Number of</B></FONT></TD>
    <TD STYLE="width: 5%; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Final</B></FONT></TD>
    <TD STYLE="width: 5%; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Payment</B></FONT></TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Contractual financial</B></FONT></TD>
    <TD STYLE="width: 5%; border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Effective interest</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Contract</B></FONT></TD>
    <TD STYLE="width: 5%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Company</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Issue</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Characteristics</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Allocation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Guarantees</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Date</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>installment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>maturity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>of charges</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>charges p.y.</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>rate p.y.</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>amount</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Copel</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">5th</FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(a)</FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Working capital or used to make investments in the issuer.</FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Personal guarantee</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">05.13.2014</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">05.13.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">111.5% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">111.5% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,000,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">336,341</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6th</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.28.2017</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.28.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Single installment</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">117.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">117.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 520,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">586,230</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">7th</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">01.19.2018</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">01.19.2021</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">119.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">125.18% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp;&nbsp; &nbsp;&nbsp;600,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">617,378</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">619,998</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8th</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Payment of the 6th issue of debentures and working capital increase</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.14.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.14.2022</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">106.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">110.93% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 500,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">500,906</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR>
    <TD ROWSPAN="7" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Copel GeT</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1st</FONT></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(a)</FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Working capital or used to make investments in the issuer.</FONT></TD>
    <TD ROWSPAN="7" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Personal guarantee</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">05.15.2015</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">05.15.2020</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Annual</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">113.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">114.29% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,000,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">346,906</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">696,593</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2nd</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.13.2016</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.13.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Annual</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">121.0% of&nbsp; DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">121.0% of&nbsp; DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,000,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">517,565</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3rd</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.20.2017</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.20.2022</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">126.0% of&nbsp; DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">131.21% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,000,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 1,011,691</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 1,014,685</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">4th</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Full early redemption of the 4th issue of the Company&rsquo;s trade promissory notes and partial payment of the 1st amortization installment of the 2nd issue of debentures.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.23.2018</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.23.2023</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">126.0% of&nbsp; DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">133.77% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,000,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 1,030,054</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 1,032,762</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">5th</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(b)</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Reimbursement of expenses related to the construction of the Transmission Lines Araraquara II - Taubat&eacute;, Assis - Londrina and Foz do Chopim.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">09.25.2018</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">5</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">09.15.2025</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA + 7.6475%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA+ 8.3295%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 290,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">308,464</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">295,448</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6th (1st serie)</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(c)</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Full early redemption of the 5th issue of the Company&rsquo;s trade promissory notes and partial payment of the 2nd amortization installment of the 2nd issue of debentures.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2024</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">109.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">111.25% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 800,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">818,406</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6th (2nd serie)</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Reimbursement of expenses related to the Col&iacute;der HPP and Baixo Igua&ccedil;u HPP projects</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2025</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA + 3.90%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA+ 4.46%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 200,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">205,677</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR>
    <TD ROWSPAN="5" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Copel DIS</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2nd</FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(a)</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Working capital or used to make investments in the issuer.</FONT></TD>
    <TD ROWSPAN="5" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Personal guarantee</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.27.2016</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.27.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Annual</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">124.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">130.37% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 500,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">253,226</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3rd</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.20.2017</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.20.2022</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">126.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">130.85% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 500,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">505,846</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">507,342</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">4th</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Working capital and payment of the 1st installment of amortization of the 2nd issue of debentures.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">09.27.2018</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">09.27.2023</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">DI + spread 2.70%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">CDI + 3.96%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,000,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 1,019,626</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 1,020,260</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">5th (serie 1)</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(c)</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Investment for expansion, renovation or improvement and reimbursement of expenses of the Issuer's electricity distribution network linked to concession contract No. 46/1999 of ANEEL.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11.15.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11.15.2027</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA + 4.20% p.a.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA+ 4.61% p.a.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 500,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">506,180</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">5th (serie 1)</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Reinforcement of working capital and recomposition of cash by the final amortization of the 2nd issue of debentures.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11.15.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">11.15.2027</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">DI + spread<BR>1.45%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">CDI + 1.65%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 350,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">351,914</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Copel CTE</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1st</FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(a)</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Deployment, expansion and modernization of the telecommunication network.</FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Personal guarantee</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.15.2015</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">5</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">10.15.2024</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA +&nbsp; 7.9633%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA+ 8.1073%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 160,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">195,429</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">188,278</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2nd</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2017</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2022</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA + 5.4329%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA+ 6.1036%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 220,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">246,355</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">237,214</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3rd</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Investments in the issuer.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">05.15.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">05.15.2024</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">117.0% of DI</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">119.58% of DI</FONT></TD>

    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 210,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; &nbsp;&nbsp;211,348</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Brisa Potiguar</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2nd (1st serie)</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(d)</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Implementation of wind generating plants.</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Real and personal guarantee and pledge of Copel GeT shares.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">03.24.2016</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2032</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">TJLP + 2.02%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">TJLP + 2.02%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 147,575</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">119,171</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">128,242</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2nd (2nd serie)</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">03.24.2016</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">192</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">07.15.2032</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA + 9.87%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA+ 10.92%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 153,258</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">135,657</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">141,069</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Cutia</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">1st</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(b)</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Construction and implementation of wind generating plants.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Personal guarantee</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">03.20.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">26</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.15.2031</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Half-yearly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA +&nbsp; 5.8813%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">IPCA+ 6.83%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 360,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">352,829</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; background-color: white; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Compag&aacute;s</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">2nd</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(e)</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Issuer's investment plan fund.</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Floating</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">04.15.2016</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">54</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.15.2021</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Quarterly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">TJLP + 2.17%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">TJLP + 2.17%</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 33,620</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">6,001</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8,973</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">SELIC + 2.17%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">SELIC + 2.17%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">5,782</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">8,678</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">3rd</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(f)</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Issuer's investment plan fund.</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Real</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">12.17.2019</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">18</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">06.28.2021</FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Monthly</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">DI + Spread<BR>0.88% p.a.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">5.68% p.a.</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">&nbsp; 43,000</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">44,746</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;Gross debt</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 8,540,366</B></FONT></TD>
    <TD STYLE="text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 7,592,904</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>(-) Transaction cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>(110,656)</B></FONT></TD>
    <TD STYLE="text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (74,773)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>Net debt</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 8,429,710</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 7,518,131</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,164,301</B></FONT></TD>
    <TD STYLE="text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,184,881</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 7,265,409</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 5,333,250</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(255, 255, 255)">
    <TD COLSPAN="14"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(a) Simple debentures, single series, not convertible into shares, unsecured, for public distribution with restricted placement efforts, according to CVM No. 476. Guarantor: Copel. Trustee: Pent&aacute;gono S.A. DTVM.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="14"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(b) Simple debentures, single series, not convertible into shares, with security interest and additional personal guarantee, for public distribution with restricted efforts, pursuant to CVM Instruction No. 476.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="14"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">Guarantor: Copel. Trustee: Pent&aacute;gono S.A. DTVM.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="14"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(c) Simple debentures, two series, not convertible into shares, unsecured, for public distribution with restricted placement efforts, according to CVM No. 476. Guarantor: Copel. Trustee: Pent&aacute;gono S.A. DTVM.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="14"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(d) Simple debentures, two series, not convertible into shares, issued privately. Companies: Nova Asa Branca I, Nova Asa Branca II, Nova Asa Branca III, Nova Eurus e Ventos de Santo Uriel. Guarantor: Copel. They have no trustee.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="14"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(e) Simple registered debentures, single series, with private issue and exclusive placement by BNDESPAR. Guarantor: Compag&aacute;s. Trustee: BNDES Participa&ccedil;&otilde;es S.A. BNDESPAR.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="14"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt; color: #000000; line-height: normal">(f) Simple and registered debentures, with a single series, in private issue, with public distribution of restricted efforts. Guarantor: Compag&aacute;s. Trustee: Simplific Pavarini DTVM Ltda.</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>22.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Maturity
of noncurrent installments</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 55%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Gross debt</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(-) Transaction cost</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Net debt</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2021</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,851,659</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(20,991)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,830,668</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2022</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,393,255</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(20,900)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2,372,355</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2023</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;&nbsp;1,290,978</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(13,143)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,277,835</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2024</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 640,764</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (7,438)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 633,326</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2025</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 478,666</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (5,505)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 473,161</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">After 2025</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 694,561</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(16,497)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 678,064</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,349,883</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(84,474)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 7,265,409</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>22.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in debentures</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 83%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 17%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>6,070,978</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Funding</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,890,283</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Charges and monetary variations</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">549,539</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization - principal</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,491,667)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payment - charges</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (501,002)</FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>7,518,131</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Funding</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,965,028</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Charges and monetary variations</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;623,795</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization - principal</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,977,125)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payment - charges</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (700,119)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>8,429,710</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>22.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Covenants</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Copel issued debentures containing
covenants that require the maintenance of certain economic and financial ratios within pre-determined parameters, requiring annual
fulfillment and other conditions to be complied with, such as not changing the Company's interest in the capital stock that would
represent change of control without prior consent from the debenture holders; not paying out dividends or interest on capital if
it is in arrears in relation to honoring any of its financial obligations or not maintaining the financial ratios as determined
without prior written consent of the debenture holders. Failing to fulfill these conditions may lead to accelerated redemption
of debentures and regulatory penalties.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As of December 31, 2019, all the other
ratios and covenants have been fulfilled.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
financial covenants contained in the agreements are presented as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 26%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 6%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Company</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Contract</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Annual financial index</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Limit</B></FONT></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Copel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">7<SUP>th</SUP>&nbsp;issue of Debentures</FONT></TD>
    <TD ROWSPAN="13" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Consolidated net debt / Consolidated EBITDA<BR>Debt service coverage ratio</FONT></TD>
    <TD ROWSPAN="13" STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&le; 3.5<BR>&ge; 1.5</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">8<SUP>th</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD ROWSPAN="5" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Copel GeT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1<SUP>st</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3<SUP>rd</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">4<SUP>th</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">5<SUP>th</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">6<SUP>th</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD ROWSPAN="3" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Copel DIS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3<SUP>rd</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">4<SUP>th</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">5<SUP>th</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD ROWSPAN="3" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Copel TEL</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1<SUP>st</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2<SUP>nd</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3<SUP>rd</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Compag&aacute;s</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2<SUP>nd</SUP>&nbsp;issue of Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="margin: 0; font: 8pt Arial, Helvetica, Sans-Serif">Net debt / EBTIDA</P>
        <P STYLE="margin: 0; font: 8pt Arial, Helvetica, Sans-Serif">General Indebtedness</P></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif">&le; 3.5</P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif">&le;&nbsp;0.7</P></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3<SUP>rd</SUP>&nbsp;issue of Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Net debt / EBTIDA</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&le;&nbsp;3.5</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Nova Asa Branca I</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD ROWSPAN="5" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debt service coverage ratio</FONT></TD>
    <TD ROWSPAN="5" STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&ge; 1.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Nova Asa Branca II</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Nova Asa Branca III</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2<SUP>nd</SUP>&nbsp;issue of Debentures</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Nova Eurus IV</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Ventos de Santo Uriel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Cutia</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1<SUP>st</SUP>&nbsp;issue of Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debt service coverage ratio (a)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&ge; 1.2</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(a) financial ratio calculated based on the amounts of the consolidated financial statements of Cutia Empreendimentos E&oacute;licos S.A.</FONT></TD></TR>
</TABLE>


<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>23</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Post-employment
Benefits</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company sponsors private retirement
and pension plans (Unified Plan and Plan III) and Healthcare Plan for medical and dental care ("ProSa&uacute;de II" and "ProSa&uacute;de
III" Plans) for their active employees and their legal dependents. The lifetime sponsorship of the Healthcare Plan for retirees,
pensioners and legal dependents is only applied to "Prosa&uacute;de II" plan participants.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The amounts of these actuarial obligations
(contributions, costs, liabilities, and/or assets) are calculated annually by an independent actuary at year end.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The benefits plan assets are measured
at market values (mark-to-market).</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The amount of the net assistance liability
is recognized at the present value of the actuarial liability, less the fair value of the plan assets.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Under the projected credit unit method
adopted, each year of service triggers an additional benefit unit, which are added up to determine the final liability.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Other actuarial assumptions are used,
which take into account biometric and economic tables in addition to historical data from the benefits plans, obtained from the
manager of these plans, Funda&ccedil;&atilde;o Copel de Previd&ecirc;ncia e Assist&ecirc;ncia Social.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Actuarial
gains or losses caused by changes in assumptions and/or actuarial adjustments are recognized in other comprehensive income.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>23.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Pension
plan</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Unified Plan is a Defined Benefit plan - BD in which the income is predetermined, according to each individual's salary. This plan
is closed for new participants since 1998.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Plan III is a Variable Contribution plan - CV, being the only plan available for new participants.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
costs assumed by the sponsors for these plans are recognized according to the actuarial evaluation prepared annually by independent
actuaries in accordance with IAS 19 and IFRIC 14. The economic and financial assumptions for purposes of the actuarial valuation
are discussed with the independent actuaries and approved by the Company's Management.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>23.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Helathcare
Plan</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company allocate resources for the coverage of healthcare expenses incurred by their employees and their dependents, within rules,
limits and conditions set in "ProSa&uacute;de II" and "ProSa&uacute;de III" Plans' regulations. Coverage includes periodic medical
exams in both plans and is extended to all retirees and pensioners for life only in the "ProSa&uacute;de II" plan.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>23.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Balance
sheet and statement of income</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Amounts
recognized in liabilities, under Post-employment benefits, are summarized below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Pension plans</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,537</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,149</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Healthcare plans</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,193,399</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">967,614</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,194,936</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>968,763</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 66,004</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 58,478</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,128,932</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>910,285</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Amounts recognized in the statement
of income are shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 61%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Employees</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Pension plans</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 72,067</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 78,209</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 78,680</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Healthcare plan - post employment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 99,578</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 97,866</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 97,511</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Healthcare plan - active employees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 87,515</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 86,580</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 81,617</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(-) Transfers to construction in progress</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(22,394)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(20,630)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(21,901)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 236,766</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 242,025</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>235,907</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Management</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Pension plans</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,450</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,598</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,500</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Healthcare plan</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 110</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 127</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">190</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,560</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,725</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,690</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 238,326</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 243,750</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>237,597</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>23.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in post-employment benefits</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 85%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>866,103</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Appropriation of actuarial calculation</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 97,900</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Appropriation of pension and healthcare contributions&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">151,215</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Adjustment related to actuarial gains (loss)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 58,354</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortizations</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (204,809)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>968,763</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Appropriation of actuarial calculation</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 99,578</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Appropriation of pension and healthcare contributions&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">138,974</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Adjustment related to actuarial gains</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">186,628</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortizations</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (199,007)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,194,936</B></FONT></TD></TR>
</TABLE>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>23.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Actuarial
valuation in accordance with IAS 19</FONT></B></P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Actuarial
assumptions</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The actuarial assumptions used to
determine the amounts of liabilities and costs for 2019&nbsp;and 2018 are shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 58%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>2019</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Real</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Nominal</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Real</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Nominal</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Economic</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Inflation p.y.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.90%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.00%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Expected rate of discount/return p.y.</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Unified Plan - Defined Benefit</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.05%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.04%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.60%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8.78%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Unified Plan - Balance</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.20%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.19%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.60%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8.78%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Plan III</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.20%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.19%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.60%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8.78%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Assistance Plan</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.30%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.30%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.60%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8.78%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Salary growth</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Unified Plan p.y.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.00%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.93%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.00%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.08%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Plan III p.y.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.50%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.44%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.50%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.56%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Demographic</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Mortality Table</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;AT - 2000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;AT - 2000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Mortality table of individuals with permanent disability</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;WINKLEVOSS</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;WINKLEVOSS</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Table of new disability benef it vested</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;TASA 1927</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;TASA 1927</FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Number
of participants and beneficiaries</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Social Security Plans</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Unified Plan</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Plan III</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Assistance Plan</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Number of active participants</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,647</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8,180</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,963</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,427</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Number of Inactive participants</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,337</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,368</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,324</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,843</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8,433</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8,174</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Number of dependent people</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22,183</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22,472</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;Total</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,364</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,401</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,971</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12,023</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp; 37,579</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp; 38,073</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0 0 10pt">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Life
expectancy after the average age of participants - Annuity Table AT-2000 (in years)</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Unified Plan</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Plan III</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>As of 12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Retired participants</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">13.13</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 25.84</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Pensioner participants</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 8.40</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 25.84</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>As of 12.31.2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Retired participants</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">14.37</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 22.74</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Pensioner participants</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">15.68</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; background-color: white; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 27.21</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
average age of inactive participants of the healthcare and pension plans of the Company is 66.6 and 65.9 years, respectively.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Actuarial
evaluation</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Based
on the revision of the assumptions, the amounts of the Unified Plan and Plan III as of December 31, 2019 totaled surplus of R$
908,294 and R$ 91,218, respectively and surplus of R$ 376,077 and R$ 32,732, respectively as of December 31, 2018. Applicable
ruling legislation does not allow any significant reduction in contributions or refunds to the Company based on the current surplus
of these plans. For this reason, the Company did not record assets in its balance sheet as of December 31, 2019, reflecting any
right to reduce contributions, refund of surplus or other amounts.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 43%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Unified<BR>&nbsp;Plan</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Plan<BR>&nbsp;III</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Assistance<BR>&nbsp;Plan</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Total liabilities or partially covered</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 6,638,462</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 3,046,536</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,389,610</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 11,074,608</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 9,201,030</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value of the plan assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(7,546,756)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(3,137,754)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (196,211)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(10,880,721)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(8,642,068)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Plan coverage status</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (908,294)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (91,218)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,193,399</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 193,887</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>558,962</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Unrecognized asset</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">908,294</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 91,218</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 999,512</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">408,652</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,193,399</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,193,399</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>967,614</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company adjusted their assistance
liabilities through the actuarial report issued on December 31, 2019, when an actuarial gain of R$ 186,628 (R$ 58,354, on December
31, 2018) was recorded in other comprehensive income, corresponding to an increase ascertained on that base date.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.5</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Changes
in actuarial liabilities</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 64%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Unified Plan</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Plan III</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Assistance Plan</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Present value of net actuarial obligations as of January 1, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,951,078</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,565,121</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 933,914</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cost of services</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 329</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 10,502</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 9,225</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cost of interest</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 563,257</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 176,878</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 105,987</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Benefits paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (406,023)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (122,841)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (7)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Actuarial (gain) losses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 244,253</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 104,908</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (13,162)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Present value of net actuarial obligations as of December 31, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 5,352,894</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,734,568</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,035,957</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cost of services</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 589</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,604</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">11,633</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cost of interest</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 533,201</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 195,991</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 102,916</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Benefits paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (414,256)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (133,281)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (7)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Actuarial (gain) losses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 442,336</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 338,779</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(9,894)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Present value of net actuarial obligations as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 5,914,764</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,145,661</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,140,605</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cost of services</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 560</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,098</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">14,306</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cost of interest</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 477,732</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 128,075</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 106,004</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Benefits paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (435,454)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (174,427)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (30)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Actuarial (gain) losses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 680,860</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 943,129</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 128,725</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Present value of net actuarial obligations as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 6,638,462</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,046,536</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,389,610</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.6</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Changes
in actuarial assets</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 64%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Unified Plan</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Plan III</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Assistance Plan</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Fair value of the Plan's assets as of January 1, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 5,478,802</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,793,516</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 165,301</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Return estimated for assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 546,699</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 202,691</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 23,934</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Contributions and distributions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 30,520</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 10,505</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Benefits paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (406,023)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (122,841)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Actuarial gain (losses)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 184,574</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(62,816)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(18,312)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Fair value of the Plan's assets as of December 31, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 5,834,572</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,821,055</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 170,923</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Return estimated for assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 593,572</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 230,703</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 16,579</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Contributions and distributions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 24,011</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,184</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Benefits paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (414,256)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (133,281)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Actuarial gain (losses)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 252,942</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 250,575</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(14,511)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Fair value of the Plan's assets as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 6,290,841</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,178,236</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 172,991</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Return estimated for assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 685,685</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 337,476</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 51,541</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Contributions and distributions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 23,851</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,185</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Benefits paid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (435,454)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (174,427)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Actuarial gain (losses)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 981,833</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 792,284</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(28,321)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Fair value of the Plan's assets as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,546,756</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,137,754</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 196,211</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.7</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Estimated
costs</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
estimated net periodic plan costs (gains) for 2020 for each plan are shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 66%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Unified Plan</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Plan III</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Assistance Plan</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cost of current service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 765</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 4,037</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 20,854</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Estimated cost of interest</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 405,370</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 183,865</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 85,561</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Expected return on plan assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(449,905)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(183,026)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(12,066)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Expected employee contributions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(187)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(2,018)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Costs (income or loss)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (43,957)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 2,858</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 94,349</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.8</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Sensitivity
Analysis</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The following tables set out a sensitivity
analysis, which shows the effect of a one percent increase or decrease in the assumed care costs, in the aggregate of the cost
of service and cost of interest components and the accumulated post-employment benefit obligation.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Projected scenarios</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Increase by 1%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Decrease in 1%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Sensitivity of long-term interest rate</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Impacts on the obligations of the pension</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(249,719)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 253,420</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Impacts on the obligations of healthcare program</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(120,756)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 122,130</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Sensitivity of growth rate of the medical costs</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Impacts on the obligations of healthcare program</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">96,823</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(90,471)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Impact on cost of service for the following financial year of healthcare program</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,439</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,344)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Sensitivity of the service cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Impacts on the obligations of the pension</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">39</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(40)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Impacts on the obligations of healthcare program</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,788</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,808)</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.9</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Benefits
payable</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The estimated benefits to be paid
by the Company in the next five years and the total benefits for the following fiscal years are shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Unified Plan</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Plan III</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Assistance Plan</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 429,228</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">158,427</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 82,813</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 670,468</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2021</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">418,133</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">154,433</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 86,125</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">658,691</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2022</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 406,885</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">149,999</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 85,451</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 642,335</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2023</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">395,134</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">145,567</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 83,826</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 624,527</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2024</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">383,511</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">141,302</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 81,965</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 606,778</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2025 a 2049</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">4,016,371</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2,011,843</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 1,091,223</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">7,119,437</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.10</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Asset
allocation and investment strategy</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
asset allocation for the Company pension and healthcare plans at the end of 2019 and the allocation goal for 2020, by asset category,
are shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Goal for 2020</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Fixed income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">70.4%</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">82.2%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Variable income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">9.1%</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">7.8%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Loans</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">1.6%</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">1.6%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Real estate</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">7.2%</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">1.4%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Investment structuring</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">8.9%</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">7.1%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Investments abroad</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">2.8%</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">0.0%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>100.0%</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
addition, information on the allocation of assets of pension plans sponsored by the Company:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Unified Plan</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Plan III</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>target (%)(*)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>minimum (%)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>target (%)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>minimum (%)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fixed income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">86.5%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">55.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">51.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">23.0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Variable income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">14.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8.0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Loans</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.5%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Real estate</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">10.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Investment structuring</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">16.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Investments abroad</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.0%</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.0%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.0%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(*) Target based on the total investment of each plan.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Management of Funda&ccedil;&atilde;o Copel decided to keep a more conservative approach investing in variable income in relation to the allowed legal limit, which is 70%.</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As of December 31, 2019, and 2018,
the pension plan assets included the following securities issued by Copel:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Unified Plan</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Plan III</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,166</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">13</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 5</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,179</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">23.5.11</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Additional
information</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company made contributions to Plan
III (variable contribution plan) for all active employees at December 31, 2019 and 2018, in the amounts of R$ 70,564 and R$ 77,797,
respectively.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>24</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Sectorial
Charges Due</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 74%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Energy Development Account - CDE</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,104</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">73,549</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Global Reversal Reserve - RGR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 12,068</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 6,323</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Tariff flags</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 12,336</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 28,508</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>79,872</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>25</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Research
and Development and Energy Efficiency</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
accordance with Law No. 9,991/2000 and supplementary regulations, concession operators and licensees of electric power generation
and transmission are required to allocate annually the percentage of 1% of their net operating regulatory revenue to research and
development of the electricity sector activities, and the electric power distribution concession operators must segregate this
same percentage into the research and development and energy efficiency programs of the electricity sector.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>25.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Balances
recognized for investment in Research and Development (R&amp;D) activities and the Energy Efficiency Program (EEP)</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amounts payable, before any related prepayments</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amounts payable to regulatory agencies</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Other amounts payable</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Research and Development - R&amp;D</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">FNDCT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 4,046</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,046</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,725</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">MME</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2,023</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,023</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,361</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">R&amp;D</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 174,032</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 167,626</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 341,658</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 327,626</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 174,032</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 6,069</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 167,626</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 347,727</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 334,712</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Energy efficiency program&nbsp; - EEP</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Procel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 16,410</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">16,410</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">15,792</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">EEP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;&nbsp;48,518</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 245,516</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 294,034</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 242,231</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 48,518</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 16,410</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp;245,516</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 310,444</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 258,023</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 222,550</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 22,479</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 413,142</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 658,171</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 592,735</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 375,395</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 270,429</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Non-current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 282,776</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 322,306</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">National Fund for Scientific and Technological Development - FNDCT</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">National Program of Electricity Conservation - Procel</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>25.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in R&amp;D and EEP balances</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>FNDCT</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>MME</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>R&amp;D</B></FONT></TD>
    <TD STYLE="border-style: solid; border-top-width: 1.5pt; border-right-width: 1pt; border-bottom-width: 1pt; border-left-width: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Procel</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>EEP</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 5,232</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,616</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>316,121</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 6,041</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 202,465</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 532,475</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Effect of acquisition of control</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; of Costa Oeste and Marumbi</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 23</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 467</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 499</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Additions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 31,186</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 15,595</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">31,188</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 9,067</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 36,270</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">123,306</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Performance agreement</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,063</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,063</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Interest rate (Note 33)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 12,627</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 684</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 12,096</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 25,407</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Payments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (31,716)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(15,859)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(47,575)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Concluded projects</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(32,777)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (10,663)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(43,440)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,725</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,361</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 327,626</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 15,792</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 242,231</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 592,735</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Business combination effects</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 20</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">10</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,464</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,494</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Additions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 32,311</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 16,155</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 32,312</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 9,333</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 37,321</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">127,432</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Performance agreement</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,246</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,246</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Interest rate (Note 33)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 10,627</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 51</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 13,892</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 24,570</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Transfers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(3,123)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,123</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Payments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(33,010)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(16,503)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(5,643)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 990</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (54,166)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Concluded projects</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (30,371)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (6,769)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (37,140)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,046</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 2,023</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 341,658</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>16,410</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 294,034</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>658,171</B></FONT></TD></TR>
</TABLE>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>26</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Accounts
Payable Related to Concessions</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Company</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Grant</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Signature</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Closing</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Discount Rate</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Annual Adjustment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">HPP Mau&aacute;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Copel GeT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;06.29.2007</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;07.03.2007</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;07.2042</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.65% p.y.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 16,890</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">16,709</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">HPP Colider</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Copel GeT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;12.29.2010</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;01.17.2011</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;01.2046</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.74% p.y.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 24,353</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">23,864</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">HPP Baixo Igua&ccedil;u</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Copel GeT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;07.19.2012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;08.20.2012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">01.2047</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.74% p.y.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 7,588</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 7,412</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">HPP Deriva&ccedil;&atilde;o Rio Jord&atilde;o</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Copel GeT</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;07.11.2013</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;02.24.2014</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;02.2019</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.74% p.y.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;47</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">HPP Fund&atilde;o e HPP Santa Clara</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Elejor</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;10.23.2001</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;10.25.2001</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;10.2036</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">11.00% p.y.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;IGPM</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 563,756</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 536,131</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 612,587</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 584,163</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 73,032</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>67,858</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 539,555</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 516,305</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Discount rate applied to calculate present value</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Real and net discount rate, compatible with the estimated long-term rate, not being linked to the expectation of return from the project.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Payment to the federal government</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Monthly installments equivalent to 1/12 of the annual payment restated, as defined in the concession agreement.</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>26.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Changes
in accounts payable related to concessions</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 89%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 1, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>554,954</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Additions</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 302</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Adjust to present value</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (114)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Monetary variations</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">93,386</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payments</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (64,365)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2018</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>584,163</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Adjust to present value</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (668)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Monetary variations</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">99,661</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payments</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: white; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (70,569)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>612,587</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>26.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Nominal
value and present value of accounts payable related to concession</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 66%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 16%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 18%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Nominal value</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Present value</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 71,471</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 73,032</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2021</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 71,471</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 64,387</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2022</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 71,471</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 58,128</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2023</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 71,471</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 52,482</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">After 2023</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;1,024,054</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">364,558</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,309,938</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>612,587</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>27</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Right-of-use
asset and lease liability</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">With the adoption of IFRS 16, the Company
recognized right-of-use asset and lease liability as follows:</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>27.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Right-of-use
asset</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Initial adoption on</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Remeasurement Adjustment</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Loss on</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>January 1, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Amortization</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;disposal</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Real estate</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 57,461</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,484</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 914</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (17,705)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(2,999)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">40,155</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Vehicles</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 57,564</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,295</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2,970</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (15,205)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(1,224)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">46,400</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2,997</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,574</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(1,295)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 6,276</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; &nbsp;&nbsp;118,022</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 9,353</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 3,884</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (34,205)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(4,223)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>92,831</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>27.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Lease
liability</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">27.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Changes
in lease liability</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 82%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; background-color: white; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Initial adoption on January 1, 2019</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 118,022</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Additions</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,353</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Remeasurement Adjustment</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,884</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Charges&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;9,675</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization - principal</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(30,946)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Payment - charges</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (9,130)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Disposals</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (4,254)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 96,604</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px helv,sans-serif">The Company defines the discount rate based on the
interest rate applied to the last debentures fundraising, disregarding subsidized or incentivized funding. The last discount rate
considered as of December 31, 2019 is 5.85% p.a., applied to contracts effective December 2019 or thereafter. The discount rate
on initial adoption was 9.10% p.a.</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">27.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Maturity
of noncurrent installments</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 87%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2021</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 22,734</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 23,251</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 8,285</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2024</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 9,814</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2025</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,252</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">After 2025</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 130</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 65,466</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Embedded interest</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (2,435)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Lease Liabilities balance on 12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 63,031</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">27.2.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Potential
right to Pis/Cofins recoverable</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The table below shows the potential
right to Pis/Cofins recoverable for Pis/Cofins computed in lease consideration payable in the foreseen periods.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Cash Flows</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;Nominal</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;Present value</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Lease consideration</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 114,341</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">96,604</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Potential Pis / Cofins</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 8,320</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,296</B></FONT></TD></TR>
</TABLE>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>27.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Impact
of forecast inflation on discounted cash flows</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">In accordance with IFRS 16, in measuring
and remeasuring lease liabilities and right-of-use assets, the Company used the discounted cash flow method without considering
forecast future inflation, according to the prohibition imposed by the standard.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">However,
given the current reality of long-term interest rates in the Brazilian economic environment, the table below shows the comparative
balances between the information recorded in accordance with IFRS 16 and the amount that would be recorded considering forecast
inflation:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 25%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 25%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 25%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance in accordance with IFRS 16</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Inflation projected balance</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>%</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Lease liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 96,604</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">106,148</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9.88%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Right to use assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;&nbsp;92,831</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">100,061</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.79%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Financial expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,675</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;&nbsp;10,341</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.88%</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Amortization expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 34,205</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 35,398</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.49%</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>27.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Commitments
from leases and rentals</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">For leases of low value assets, such
as computers, printers and furniture, short-term leases, as well as for leases of land for development of wind power generation
projects, whose payment is made based on variable remuneration, the amounts are recognized in the statement of income as operating
costs and/or expenses (Note 32.6). The balance of commitments from leases and rentals is shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Less than</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Over</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;1 year</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;1 to 5 years</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;5 years</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;12.31.2019&nbsp;</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Commitments from leases and rents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6,347</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">29,645</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">158,826</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 194,818</FONT></TD></TR>
</TABLE>
<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>28</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Other
Accounts Payable</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value in the purchase and sale of power in the active market (Note 35.2.12)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 251,973</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">11,007</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Customers (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 43,024</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">70,713</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Obligations to customers in gas sales operations (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 39,665</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">55,048</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Public lighting rate collected</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 38,805</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">28,337</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Aneel Order No. 084/2017 provision</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 26,008</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">24,314</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Investment acquisition</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 13,294</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">32,200</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Financial offset for the use of water resources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 12,535</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">20,820</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Pledges in guarantee</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 9,257</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">10,026</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Reimbursements to customer contributions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,887</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 5,036</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Derivatives fair value - Forward contract (Note 35.2.3 - b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,203</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 58,218</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">51,523</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 498,869</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 309,024</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 149,407</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 192,070</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 349,462</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 116,954</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(a) Of the balance at 12.31.2018, R$32,639 refers to amounts transferred from the Federal Government to Copel DIS, in accordance with ANEEL Directive Release No. 565/2018, for the reimbursement of consumers due to the exceeding amount collected from the Net Operating Revenue in the period from January 2010 to December 2012. There is no outstanding balance of this liability on 12.31.2019</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(b) Refers to amounts paid for the purchase of contracted gas volumes not yet taken by customers.</FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>29</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Provisions
for Legal Claims and Contingent Liabilities</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company are responsible for several legal and administrative proceedings before different courts. Based on assessments made by
the Company's legal counsel, Management makes provisions for legal claims in which the losses are rated probable, when the criteria
for recognition of provisioning described in Note 4.11 are met.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company's management believes it is impracticable to provide information regarding the timing of any cash outflows related to the
lawsuits for which the Company are responsible on the date of preparation of the&nbsp;financial statements, in view of the unpredictability
and dynamics of the Brazilian judicial, tax and regulatory systems, and that the final resolution depends on the conclusions of
the lawsuits. For this reason, this information is not provided.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>29.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Provision
for legal claims</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">29.1.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Changes
in provision for legal claims rated as involving probable losses</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Income</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balances as of</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Provision for litigations</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Construction cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions&nbsp; (Reversals)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Transfers/</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balances as of</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>January 1, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Reversals</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions/(Rev.)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>to assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Discharges</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Others</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>December 31, 2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Tax</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cofins (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 102,603</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,307</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (2,626)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 104,284</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Others (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 54,494</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 4,841</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(14,258)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,258)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">27,687</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 71,506</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 157,097</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 9,148</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(16,884)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,258)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>27,687</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 175,790</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Labors (c)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 612,782</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 194,550</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(23)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(134,247)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 673,062</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Employee benefits (d)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 85,199</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>27,426</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(18,747)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (7,581)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 86,297</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Civil</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Civil and administrative claims (e)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 492,934</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 101,438</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(36,271)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(221,139)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 336,962</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Easements (f)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 118,147</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 711</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (3,470)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 12,456</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,012</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,891)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">45</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 127,010</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Expropriations and property (g)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 116,401</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,844</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (4,501)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(2,935)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 7,109</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(161)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; &nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 118,757</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Customers (h)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5,209</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 390</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (643)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,956</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Environmental (i)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,531</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,332</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (566)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(226)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,071</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 736,222</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 106,715</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(45,451)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 9,521</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 8,121</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(223,417)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>45</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 591,756</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Regulatory (j)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 73,473</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 7,926</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (546)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (1,045)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 79,808</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,664,773</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 345,765</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(81,651)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 9,521</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 8,121</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(367,548)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>27,732</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,606,713</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,664,773</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,606,713</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Income</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of January 01,2018</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Provision for litigations</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Construction cost</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Asset additions</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Discharges</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Transfers / Others</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Balance as of December 31,2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Reversals</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Additions/ (Rev.)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Tax</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Cofins (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 79,748</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 22,855</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 102,603</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Others (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 58,793</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7,722</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (26,695)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (6,325)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">20,999</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">54,494</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>138,541</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 30,577</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (26,695)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (6,325)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>20,999</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 157,097</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Labors (c)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>475,631</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>232,195</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (2,400)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(92,644)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 612,782</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Employee benefits (d)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 89,439</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 11,089</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (10,062)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (5,267)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>85,199</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: 18pt"><B>Civil</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Civil and administrative claims (e)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">527,613</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">119,633</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(118,652)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(36,005)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 345</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 492,934</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Easements (f)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">110,936</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,179</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(305)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (4,600)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8,477</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (1,474)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 2,934</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 118,147</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Expropriations and property (g)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 95,627</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">156</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,350)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4,032</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 18,168</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (232)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 116,401</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Consumers (h)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8,377</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">464</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (1,469)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (2,163)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 5,209</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Environmental (i)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,584</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,570</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(562)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(61)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 3,531</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>744,137</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>125,002</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(122,338)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (568)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 26,645</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(39,935)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,279</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 736,222</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Regulatory (j)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 64,316</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>9,296</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(139)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; &nbsp;-&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>73,473</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,512,064</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>408,159</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(161,634)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; (568)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 26,645</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; (144,171)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>24,278</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,664,773</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Current</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>112,000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; -&nbsp;&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Noncurrent</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,400,064</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 1,664,773</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">29.1.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Description
of nature and/or details of the principal lawsuits</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>a)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Contribution
for Social Security Funding (COFINS)</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Plaintiff:
Federal Revenue of Brazil</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Cofins
payables and respective interest and fines from August 1995 to December 1996, due to the termination of a judicial decision that
had recognized the Company's exemption from<FONT STYLE="letter-spacing: -0.2pt">&nbsp;</FONT>Cofins.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Current
status:</B>&nbsp;pending judgment of appeal.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>b)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Other
tax provisions</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Claims
related to federal, state and municipal taxes, fees and other charges on which the Company discusses the incidence or not, as well
as their bases and amounts for payment.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>c)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Labor</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Labor
claims comprise claims filed by employees and former employees of Copel in connection with the payment of overtime differences,
hazardous working conditions, transfer bonuses, salary equality/reclassification and other matters, and also claims by former employees
of contractors and third- parties (secondary responsibility) involving indemnity and other matters.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>d)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Employee
benefits</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Labor
claims comprise claims filed by retired former employees of Copel and its wholly-owned subsidiaries against the Copel Foundation,
which will have consequential impact on the Company and its wholly-owned subsidiaries, since additional contributions will be required.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>e)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Civil
and admininstrative claims</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuits
involving billing, supposed irregular procedures, administrative contracts and contractual fines, indemnity for accidents with
the electric power network or vehicles.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
balance also contains amounts being discussed by arbitration under secrecy and confidentiality, in the discovery phase, with no
decision having been handed down to date.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
main lawsuit is described below:</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Plaintiff:</B>&nbsp;Tradener
Ltda.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Class
lawsuit No. 588/2006 has already been rendered final and unappeasable, and the ruling recognized as valid the contractual commissions
payable by the Company to Tradener. In the civil public lawsuit No. 0000219.78.2003.8.16.0004, filed by the Prosecution Office,
a decision has also been rendered ruling on the absence of irregularities in the electric power purchase agreement. Therefore,
Tradener brought recovery lawsuits, seeking to receive its<FONT STYLE="letter-spacing: -0.2pt">&nbsp;</FONT>commissions.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Current
status:&nbsp;</B><FONT STYLE="color: black">On August 22, 2019, the Company paid R$ 130,440 for the judgment against it plus 1%
attorney&rsquo;s fees,</FONT>&nbsp;<FONT STYLE="color: black">and awaits approval of the payment agreement.</FONT></P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%">

        <P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Plaintiff:</B>&nbsp;Tobacco growers&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
    <TD STYLE="width: 50%">

        <P STYLE="text-align: right; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Estimated amount:</B>&nbsp;R$ 48,977</P></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuits
filed by tobacco growers whose main cause is power failures leading to loss of production.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>f)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Easements</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuits
are filed challenging expropriation when there is a difference between the amount determined by Copel for payment and the amount
claimed by the property owner and/or when the owner's documentation supporting title to the property may not be registered (when
probate proceedings are still in progress, properties have no registry number with the land registry, etc.).</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Cases
may also arise from intervention in third-party adverse possession, either as a confronter, or in case of a property where there
are areas of easement of passage, in order to preserve the limits and boundaries of expropriated<FONT STYLE="letter-spacing: -0.05pt">&nbsp;</FONT>areas.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>g)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Expropriations
and property</FONT></B></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Expropriation
and property lawsuits are filled when there is a difference between the amount determined by Copel for payment and the amount claimed
by the property owner and/or when the owner's documentation supporting title to the property may not be registered (in case probate
proceedings are still in progress, properties have no registry number with the land registry, etc.).</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Possessory
lawsuits include those for repossession of property owned by the concession operator. Litigation arises when there is a need to
repossess properties invaded or occupied by third parties in areas owned by the Company.&nbsp;<FONT STYLE="color: black">Cases
may also arise from intervention in third-party adverse possession, or owners or occupants of contiguous properties or even in
cases of properties to preserve limits and boundaries of expropriated areas.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black">The
main lawsuits are as follows</FONT>:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%">

        <P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Plaintiff:</B>&nbsp;Property owner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
    <TD STYLE="width: 50%">

        <P STYLE="text-align: right; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Estimated value</B>: R$ 28,211</P></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Expropriation
lawsuit for construction of electric substation that contests the indemnity<FONT STYLE="letter-spacing: -0.7pt">&nbsp;</FONT>amount.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black"><B>Current
status:&nbsp;</B></FONT>lawsuit awaiting judgment at higher court.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%">

        <P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Plaintiff:</B>&nbsp;Property owner&nbsp;&nbsp;&nbsp;</P></TD>
    <TD STYLE="width: 50%">

        <P STYLE="text-align: right; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Estimated value:</B>&nbsp;R$ 10,467</P></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuit
for the expropriation of the area used for the reservoir of the Mau&aacute; Plant filed by Cons&oacute;rcio Energ&eacute;tico Cruzeiro
do Sul, of which Copel GeT participates with 51%, in which discusses the indemnity amount of the property that is in a submerged<FONT STYLE="letter-spacing: -0.3pt">&nbsp;</FONT>part.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black"><B>Current
status:</B></FONT>&nbsp;Higher court decision, motions to clarify were filed, which have not yet been judged.&nbsp;<FONT STYLE="color: black">After
judgment of the motions to clarify, a special appeal will be filed seeking to reverse the decision</FONT>.</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>h)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Consumers</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuits
seeking compensation for damages caused in household appliances, industrial and commercial machines, lawsuits claiming damages
for pain and suffering caused by service interruption and lawsuits filed by industrial consumers, challenging the lawfulness of
the increase in electricity prices while Plano Cruzado (anti-inflation economic plan) was in effect and claiming reimbursement
for the amounts paid by the Company.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>i)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Environmental</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Public
civil and class actions whose purpose is to obstruct the progress of environmental licensing for new projects or to recover permanent
preservation areas located around the hydroelectric power plant dams unlawfully used by private individuals. If the outcome of
the lawsuits is unfavorable to the Company, Management estimates only the cost to prepare new environmental studies and to recover
the areas owned by Copel<FONT STYLE="letter-spacing: -1.15pt">&nbsp;</FONT>GeT. They also include the Commitment Agreements (Termos
de Ajuste de Conduta - TAC), which refer to the commitments agreed-upon and approved between the Company and the relevant bodies,
for noncompliance with any condition provided for by the Installation and Operating Licenses.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>j)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Regulatory</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company has been challenging, both at the administrative and judicial levels, notifications issued by the Regulatory Agency of
alleged violations against regulations.&nbsp;<FONT STYLE="color: black">The main action is described below:</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black"><B>Plaintiffs:</B></FONT>&nbsp;<FONT STYLE="color: black">Companhia
Estadual de Energia El&eacute;trica - CEEE and Dona Francisca Energ&eacute;tica S.A</FONT>.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Estimated
amount:</B>&nbsp;R$ 57,000</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Copel,
Copel GeT and Copel DIS are challenging lawsuits filed against ANEEL's Decision 288/2002 involving these companies.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black"><B>Current
status:&nbsp;</B>awaiting judgment</FONT>.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>29.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Contingent
liabilities</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">29.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Classification
of lawsuits rated as possible losses</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Contingent
liabilities are present obligations arising from past events for which no provisions are recognized because it is not probable
that an outflow of resources embodying economic benefits will be required to settle the obligation. The following information
concerns the nature of contingent liabilities of the Company and potential losses arising<FONT STYLE="letter-spacing: 0.05pt">&nbsp;</FONT>therefrom:</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 73%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Tax (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 628,546</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 568,512</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Labor (29.1.2 - c)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 419,917</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 311,777</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Employee benefits (29.1.2 - d)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 21,338</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">19,099</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Civil (d)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,273,928</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,286,466</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Regulatory (e)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,141,420</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 866,836</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,485,149</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,052,690</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">29.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Description
of nature and/or details of the principal lawsuits</U></FONT></P>

<P STYLE="text-align: justify; text-indent: -0.25in; margin: 6pt 0 6pt 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>a)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Tax</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0 6pt 0.6pt; font: 10pt/20px Arial, Helvetica, Sans-Serif">Claims related to federal,
state and municipal taxes, fees and other charges on which the Company discusses the incidence or not, as well as their bases and
amounts for payment.&nbsp;The main lawsuits are as follows:</P>

<P></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Plaintiff:&nbsp;</B>National Institute of Social Security (INSS)</FONT></TD>
    <TD STYLE="width: 50%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Estimated amount:&nbsp;</B>R$ 117,018</FONT></TD></TR>
</TABLE>
<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Tax requirements related to the social
security<FONT STYLE="letter-spacing: -0.35pt">&nbsp;</FONT>contribution.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Current status:&nbsp;</B>awaiting
judgment in the Administrative Council of Tax Appeals - CARF or at the judicial level.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Plaintiff:</B>State TaxAuthority<FONT STYLE="letter-spacing: -0.25pt">&nbsp;</FONT>&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Estimated amount:</B>R$ 87,657</FONT></TD></TR>
</TABLE>
<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Copel Distribution received tax deficiency
notice 6.587.156-4 from the State of Paran&aacute; for allegedly failing to pay ICMS (VAT) tax on the 'metered demand' highlighted
in the electricity bills issued to a major consumer between May 2011 and December 2013.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company maintains its illegitimacy
to appear in the taxable position of this tax assessment, since it was not included in the judicial proceeding, thus it cannot
suffer the effects of the ruling rendered thereon, which would entail its illegitimacy to appear as liable taxpayer in tax deficiency
notice.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font-family: Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt; line-height: 20px">The
Company filed a writ of mandamus on July 16, 2019, having obtained an injunction suspending ICMS levy</FONT><FONT STYLE="font-size: 13.5pt; line-height: 27px">.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Plaintiff:&nbsp;</B>City halls<B>&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 50%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Estimated amount:&nbsp;</B>R$ 87,006</FONT></TD></TR>
</TABLE>
<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Tax Requirement on Urban Territorial
Property on properties affected by the public electricity service. The case is pending judgment at lower court.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Plaintiff:</B>&nbsp;City halls&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; text-align: right; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Estimated amount:</B>&nbsp;R$ 65,443</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">City halls tax requirement as ISS on construction services provided by
third parties.</P>

<P STYLE="text-align: justify; margin: 6pt 0 6pt 0.6pt; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Current status:</B>&nbsp;pending
judgment of answers filed at the administrative or judicial levels.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>Plaintiff:</B>&nbsp;Brazilian Federal Revenue Office&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 18pt"><B>Estimated amount:</B>&nbsp;R$ 105,800</FONT></TD></TR>
</TABLE>
<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Requirement and administrative questioning
related to federal taxes.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Current status:</B>&nbsp;awaiting
judgment in the Administrative Council of Tax Appeals - CARF or at the judicial level.</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>b)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Civil</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuits
involving billing, supposed irregular procedures, administrative contracts and contractual fines, indemnity for accidents with
the electric power network or vehicles, easements of passage, expropriations, patrimonial and environmental.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
balance also contains amounts being discussed by arbitration under secrecy and confidentiality, in the discovery phase, with no
decision having been handed down to date.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
main lawsuits are as follows:</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black"><B>Plaintiff:</B></FONT>&nbsp;<FONT STYLE="color: black">Mineradora
Tibagiana Ltda.</FONT>&nbsp;&nbsp;&nbsp;<FONT STYLE="color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuit
claiming compensation for alleged losses when this mining company was involved in the construction of the Mau&aacute; plant by
the Energ&eacute;tico Cruzeiro do Sul Consortium in which Copel GeT has a 51% stake. A final and unappealable ruling was rendered
on September 4, 2019 on the lawsuit about validity of the mining permit granted to Mineradora Tibagiana, and the revocation of
the Ordinance granting mining permit to Mineradora Tibagiana by the National Department of Mineral Production (Departamento Nacional
de Produ&ccedil;&atilde;o Mineral - DNPM) remained valid. Due to this, the possibility of outflow of resources has become remote.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Plaintiffs:&nbsp;</B>franchises of Agency/Copel store&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; text-align: right; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Estimated amount:</B>&nbsp;R$ 49,689</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuit
filed by a former franchisee, without a current contract, with the objective of seeing the object then auctioned as a sub-concession,
and not as a franchise, and, consequently, to see the contract extended and to be remunerated through fees charged to users, or,
successively, be compensated for lost profits, in addition to royalties, advertising fund, among other funds.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Current
status:&nbsp;</B>awaiting judgment in appellate level.&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Plaintiff:</B>&nbsp;Department of Roads and Roadworks&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; text-align: right; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Estimated amount:</B>&nbsp;R$ 85,277</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Department of Roads and Roadworks (Departamento de Estradas e Rodagens - DER) - issued a tax assessment notice to Copel Distribui&ccedil;&atilde;o
which, in turn, filed a lawsuit challenging DER's Charge for Use or Occupancy of Highway Domain Range, since the Company understands
that this charge is unconstitutional because it has a confiscatory nature. Currently the process is concluded for rendering of
the ruling.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Plaintiff:</B>&nbsp;Tobacco growers</FONT></TD>
    <TD STYLE="width: 50%; text-align: right; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Estimated amount:</B>&nbsp;R$ 34,792</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Lawsuits
filed by tobacco growers whose main cause is power failures leading to loss of production.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Current
status:&nbsp;</B>awaiting judgment.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>c)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Regulatory</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company is challenging, both at the administrative and judicial levels, notifications issued by the Regulatory Agency of alleged
violations against regulations. The principal action is described below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="width: 50%; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Plaintiff:</B>&nbsp;Energia Sustent&aacute;vel do Brasil S.A. - ESBR</FONT></TD>
    <TD STYLE="width: 50%; text-align: right; line-height: 20px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Estimated amount:</B>&nbsp;R$&nbsp;1,034,593</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">ESBR
filed Ordinary Lawsuit No. 10426-71.2013.4.01.4100 against ANEEL in the Federal Court of Rond&ocirc;nia, whose ruling: (i) acknowledged
the exclusion of liability for the 535-day schedule overrun in the construction of the Jirau Hydropower Station; (ii) declares
any obligations, penalties and costs imposed on ESBR as a result of the schedule overrun to be unenforceable, and (iii) annuls
ANEEL Resolution 1,732/2013, which had recognized a schedule overrun of only 52 days. An appeal has been brought by ANEEL, pending
judgment by the Federal Court of the 1st<FONT STYLE="letter-spacing: -0.25pt">&nbsp;</FONT>Region.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
practical consequence of the ruling was, at the time it exempted ESBR, to expose the distributors with whom it entered into power
trading contracts (CCEARs) to the Short-Term Market and to the high value of the Settlement Price of the Differences (Pre&ccedil;o
de Liquida&ccedil;&atilde;o das Diferen&ccedil;as - PLD) in the period, including Copel DIS. This occurred because the rules for
the sale of electricity require that all energy consumed should have a corresponding contractual coverage.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">If
the lawsuits are judged unfavorably against Copel, the amount will be classified as Sectorial Financial Asset to be recovered through
tariff<FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT>rates.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Current
status:&nbsp;</B>awaiting judgment</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>30</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Equity</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>30.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Capital</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Capital
consists of common and preferred shares. Each common share entitles its holder to one vote in the general shareholders&rsquo;&nbsp;meetings.
Preferred shares do not have voting rights and have two classes&nbsp;&ldquo;A&rdquo;&nbsp;and&nbsp;&ldquo;B&rdquo;.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">According
to Article 17 and following paragraphs of Federal Law No. 6,404/76, dividends paid to preferred shares must be at least 10% higher
than those paid to common shares.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Class&nbsp;&ldquo;A&rdquo;&nbsp;preferred
shares have priority in the reimbursement of capital and in the distribution of minimum dividends of 10% p.a. (non-cumulative),
calculated based on the capital represented by this class of shares.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Class&nbsp;&ldquo;B&rdquo;&nbsp;preferred
shares have priority in the reimbursement of capital and the right to the distribution of dividends, calculated as 25% of adjusted
profit or loss for the year, pursuant to the corporate legislation and to the Company&rsquo;s by-laws, calculated proportionately
to the capital represented by the shares of this class. Dividends for Class&nbsp;&ldquo;B&rdquo;&nbsp;have priority only over the
common shares and are only paid out of the remaining profits payment of priority dividends of class&nbsp;&ldquo;A&rdquo;&nbsp;shares.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
December 31, 2019, paid-in capital is R$ 10,800,000 (R$ 7,910,000 as at December 31, 2018). The capital increase of R$ 2,890,000
was approved at the Extraordinary General Meeting held on April 29, 2019. Shareholding interests (comprising no par value shares)
and main shareholders are shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Number of shares in units</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Shareholders</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Common</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Class "A&rdquo; Preferred</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Class &ldquo;B&rdquo; preferred</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;in share</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>%</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;in share</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>%</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;in share</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>%</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;in share</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>%</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">State of Paran&aacute;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 85,028,598</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 58.63</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 85,028,598</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 31.07</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">BNDES</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 38,298,775</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 26.41</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 27,282,006</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 21.26</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 65,580,781</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 23.96</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Eletrobras</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,530,774</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.06</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,530,774</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 0.56</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Free float:</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">B3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 19,727,829</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 13.60</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;76,783</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 23.47</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 73,612,755</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 57.38</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 93,417,367</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 34.15</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">NYSE</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">108,545</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.07</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 27,181,283</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 21.19</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 27,289,828</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 9.97</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Latibex</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">170,911</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.13</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">170,911</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 0.06</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">City Halls</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">178,393</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.12</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 9,326</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 2.85</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3,471</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">191,190</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 0.07</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other shareholders</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">158,166</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.11</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">241,033</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 73.68</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 46,727</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">0.04</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">445,926</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 0.16</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>145,031,080</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 100.00</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>327,142</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>100.00</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>128,297,153</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 100.00</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>273,655,375</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 100.00</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>30.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Equity
valuation adjustments</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Fair
values of fixed assets&nbsp;&ndash;&nbsp;deemed costs&nbsp;&ndash;&nbsp;were recognized on the first-time adoption of IFRS. The
line item&nbsp;&ldquo;Equity value adjustments&rdquo;&nbsp;was the balancing item of this adjustment, net of deferred income tax
and social contribution. The realization of such adjustments is recorded in the retained earnings line item, to the extent of the
depreciation or possible disposal of the measured fixed assets.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Adjustments
arising from the changes in fair value involving financial assets, as well as actuarial gains and losses, are also recorded in
this line item.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Equity Valuation Adjustments</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Accumulated Other</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 8pt/normal Arial, Helvetica, Sans-Serif; color: #000000"><B>Comprehensive Income</B></FONT></P></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>As of January 1, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 929,404</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 69,062</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 998,466</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to financial assets available for sale</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (1)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity interest investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 26,135</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 26,135</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (8,887)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (8,887)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments related to actuarial liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post employment benefits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (46,506)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (46,506)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 16,827</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 16,827</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realization of equity evaluation adjustment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deemed cost of fixed assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(108,561)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (108,561)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on the adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 36,911</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">36,911</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gains on Investments in equity investments (Note 16.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (28,650)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (28,650)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; &nbsp;9,741</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,741</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attributed to non-controlling interest</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>123</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 123</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>As of December 31, 2017</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 857,754</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 37,847</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 895,601</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments related to actuarial liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post employment benefits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (58,354)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (58,354)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 19,994</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 19,994</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realization of equity evaluation adjustment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deemed cost of fixed assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(101,645)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (101,645)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on the adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">34,559</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 34,559</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reclassification by the adoption of IFRS 9</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity interest investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(4,391)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(4,391)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attributed to non-controlling interest</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (154)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(154)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>As of December 31, 2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 790,668</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(5,058)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 785,610</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments related to actuarial liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Post employment benefits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(186,628)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(186,628)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 63,444</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 63,444</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realization of equity evaluation adjustment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deemed cost of fixed assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (100,342)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(100,342)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on the adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 34,116</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">34,116</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attributed to non-controlling interest</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(4,273)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (4,273)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>As of December 31, 2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 724,442</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(132,515)</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 591,927</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>30.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Legal
reserve and profit retention reserve</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
amount of 5% of profit for the year is allocated to the legal reserve, before any other allocation, limited to 20% of capital.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
profit retention reserve is earmarked for covering the Company's investment program, according to Article 196 of Law No. 6,404/1976.
It is funded by retaining the remaining profit or loss after setting up the legal reserve, interest on capital and dividends proposed.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>30.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Proposed
dividend distribution</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Parent Company</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Calculation of minimum mandatory dividend (25%) - (1)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Net income for the year</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;1,989,946</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;1,407,063</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;1,033,626</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Legal Reserve (5%)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (99,497)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (70,353)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (51,681)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Realization of equity evaluation adjustment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 66,226</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 67,086</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 71,650</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Calculation basis for minimum mandatory dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;1,956,675</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;1,403,796</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;1,053,595</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>489,169</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>350,949</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>263,399</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total proposed distribution - (2) (3 + 5)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>643,000</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>378,542</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>289,401</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Interest on own capital, net - (3)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">643,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">280,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">266,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Tax on interest on own capital</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (56,584)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (27,593)</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (26,002)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Interest on own capital, net - (4)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>586,416</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>252,407</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>239,998</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Dividends proposed - (5)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 98,542</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 23,401</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total proposed distribution, net - (6) (4 + 5)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>586,416</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>350,949</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>263,399</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Proposed additional dividend - (7) (6-1)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 97,247</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Interest on own capital, net, in advance, endorsed by CAD - (8) (4-1)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 97,247</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Gross value of dividends per share:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Ordinary shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.24235</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.31950</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.00801</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;A&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.94657</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.89050</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.89050</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;B&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2.46692</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.45151</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1.10883</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Gross amount of dividends per class of shares:</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Ordinary shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">325,210</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">191,369</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">146,193</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;A&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,291</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">950</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">950</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;B&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">316,499</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">186,223</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">142,258</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">In accordance with the legal and statutory
provisions in effect, the basis for calculating mandatory dividends is obtained from net income, less the quota allocated to the
legal reserve. However, Management decided to add to the calculation basis the realization of the equity valuation adjustments,
which is dealt with in IAS 16, 40 and IFRS 1, in order to void the effect of the increase in depreciation expense arising from
the adoption accounting standards, as well as IAS 16 - Property, Plant and Equipment. This procedure reflects the Company's shareholder
remuneration policy, which will be practiced during the realization of the entire reserve for equity valuation adjustments.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The distribution of the minimum mandatory
dividend is included in Dividend payable in the Company&rsquo;s financial statements at year-end.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
tax benefit of interest on capital is recorded in the statement of income upon its recognition in accounts payable.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>30.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Earnings
per share &ndash; basic and&nbsp;diluted</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Basic and diluted numerator</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Basic and diluted earnings allocated by classes of shares, allocated to controlling shareholders:</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Common shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,007,014</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">712,234</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">523,206</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;A&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp;&nbsp;&nbsp;2,984</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,775</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">1,304</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;B&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">979,948</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">693,054</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">509,116</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,989,946</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,407,063</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>1,033,626</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Basic and diluted denominator</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Weighted average of shares (in thousands):</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Common shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">145,031,080</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">145,031,080</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">145,031,080</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;A&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">327,368</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">328,627</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">328,627</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;B&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">128,296,927</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">128,295,668</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">128,295,668</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>273,655,375</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>273,655,375</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>273,655,375</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Basic and diluted earnings per share attributable to controlling shareholders</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Common shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">6.94344</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">4.91091</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.60754</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;A&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9.11525</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.40201</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.96830</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Class &ldquo;B&rdquo; preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">7.63812</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">5.40201</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">3.96830</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>31</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Net
Operating Revenue</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 2.75pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Gross</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>PIS/Pasep</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Sectorial</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Service tax</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Net revenues</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>revenues</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>and Cofins</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>ICMS (VAT)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>charges</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(ISSQN)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Electricity sales to final customers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">10,481,794</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(965,651)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(2,336,583)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (753,544)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 6,426,016</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 5,548,584</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,681,533</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Electricity sales to distributors</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 3,301,336</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(368,101)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (10,727)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (56,642)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,865,866</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,765,916</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,176,354</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Use of the main distribution and transmission grid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 8,270,996</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(781,017)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(1,999,583)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(1,351,625)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 4,138,771</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,469,060</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 3,617,941</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Construction income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,132,884</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; &nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,132,884</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 1,097,313</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 868,001</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Fair value of assets from the indemnity for the concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">36,646</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 36,646</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 47,499</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 57,080</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Telecommunications</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 532,926</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (21,035)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(137,896)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(558)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 373,437</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 366,179</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 308,952</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Distribution of piped gas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 1,003,790</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">11,313</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(171,897)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (23)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 843,183</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 557,186</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 454,815</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Sectorial financial assets and liabilities result</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">25,057</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; (6,426)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 18,631</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 893,688</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 718,826</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other operating revenue</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 442,353</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; (30,203)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">(3,310)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 408,840</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 189,355</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 141,071</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>25,227,782</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(2,161,120)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(4,656,686)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(2,161,811)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>(3,891)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 16,244,274</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 14,934,780</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp; 14,024,573</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>31.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Revenue
by type and/or class of customers</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Electricity sales to final customers</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>10,481,794</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>10,104,045</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 8,689,516</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Residential</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 3,336,432</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 3,175,290</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,750,514</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Industrial</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,276,105</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,419,240</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,337,893</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Trade, services and other activities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,179,510</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,136,087</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,880,862</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Rural</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 631,527</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 572,361</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 511,196</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Public entities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 279,495</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 262,705</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 236,719</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Public lighting</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 274,250</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 278,645</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 244,381</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Public service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 332,414</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 316,307</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 275,431</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Free consumers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,431,274</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,179,314</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 845,964</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Donations and grants</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 740,787</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 764,096</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 606,556</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 1.5pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><B>Electricity sales to distributors</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 3,301,336</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 3,136,244</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 3,529,770</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Bilateral contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,998,617</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,002,077</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,947,862</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Regulated contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 854,239</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 385,157</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 421,805</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Electric Energy Trade Chamber - CCEE</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 357,076</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 663,024</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,077,943</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Interest (Note 10.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 91,404</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 85,986</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 82,160</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Use of the main distribution and transmission grid</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 8,270,996</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 6,867,274</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 6,442,761</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Residential</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,585,892</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,222,621</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,025,400</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Industrial</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,280,168</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,110,089</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,024,452</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Trade, services and other activities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,713,632</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,407,156</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,304,285</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Rural</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 467,044</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 362,778</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 341,875</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Public entities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 217,027</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 185,383</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 174,427</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Public lighting</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 206,492</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 184,530</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 167,907</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Public service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 174,414</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 141,556</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 126,795</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Free consumers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,052,535</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 795,105</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 663,248</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Concessionaires and generators</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 62,414</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 80,329</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 60,485</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Operating and maintenance income - O&amp;M</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 98,207</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 58,578</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 113,324</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Interest income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 413,171</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 319,149</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 440,563</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Construction income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,132,884</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,097,313</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 868,001</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Fair value of assets from the indemnity for the concession</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 36,646</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 47,499</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 57,080</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Telecommunications</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 532,926</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 512,540</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 426,773</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Distribution of piped gas</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,003,790</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 753,222</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 621,992</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Sectorial financial assets and liabilities result</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 25,057</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 985,344</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 767,040</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Other operating revenue</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 442,353</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 222,329</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 171,356</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Leasing and rent (31.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 144,744</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 132,682</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 109,230</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Fair value in the purchase and sale of power in the active market</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 204,876</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Income from rendering of services</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 51,780</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 59,280</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 30,247</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Charged service</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 18,807</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 18,475</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 15,981</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 22,146</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 11,892</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 15,898</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GROSS OPERATING REVENUE</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>25,227,782</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>23,725,810</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>21,574,289</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(-) Pis/Pasep and Cofins</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(2,266,304)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(2,117,800)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,788,714)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Recovery of Pis/Pasep and Cofins on ICMS (Note 13.2.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 105,184</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(-) ICMS (VAT)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(4,656,686)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(4,210,382)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(3,734,940)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(-) Service tax (ISSQN)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (3,891)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (5,286)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (5,388)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(-) Sectorial charges (31.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(2,161,811)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(2,457,562)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(2,020,674)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;NET OPERATING REVENUE</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>16,244,274</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>14,934,780</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>14,024,573</B></FONT></TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>31.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Leases
and rentals</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">31.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Revenue
from leases and rentals</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt; line-height: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Equipment and framework</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 143,482</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 131,409</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 106,790</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Facilities sharing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,046</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,003</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,159</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Real estate</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">216</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">270</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">281</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 144,744</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 132,682</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 109,230</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">31.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Receivables
from leases</U></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt; line-height: 8pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(0, 0, 0) 2px solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 2px solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Less than</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 2px solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 2px solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Over</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 2px solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;1 year</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;1 to 5 years</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;5 years</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;12.31.2019&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 2px solid; white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Facilities sharing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 2px solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">2,207</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 2px solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">8,829</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: rgb(0, 0, 0) 2px solid; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">35,920</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 2px solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">46,956</FONT></TD></TR>
</TABLE>
<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 6pt 0 6pt 34pt; text-indent: -34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>31.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Regulatory
charges</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt; line-height: 8pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 55%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Energy Development Account - "CDE " - Power distribution service concession (31.3.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,654,157</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,840,283</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 1,415,738</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Other charges - rate flags</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 280,286</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 423,098</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 420,027</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Research and development and energy efficiency - R&amp;D and EEP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 127,432</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 123,306</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp;&nbsp; 117,390</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Global Reversion Reserve - RGR quota</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 63,918</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 48,512</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 18pt">&nbsp; 46,825</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Energy Development Account - "CDE "&nbsp; - Power transmission concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 25,271</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 12,211</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 18pt">&nbsp; 10,971</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">Inspection fee</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 10,747</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">&nbsp; 10,152</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt">9,723</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: justify; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,161,811</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,457,562</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; line-height: 18pt; text-indent: 8.05pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 18pt"><B>&nbsp;&nbsp; 2,020,674</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">31.3.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Energy
Development Account - CDE - power distribution concession</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The CDE was created by Law 10,438/2002,
amended by Law 12,783/2013 and, in order to meet its objectives, it has among its sources of funds, quotas paid by agents that
negotiate energy with end consumers, at a charge included in the tariffs.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Currently, the Company makes payments
for the &ldquo;CDE USO&rdquo; charge, intended to cover the CDE's objectives set forth by law, and the annual quota of &ldquo;CDE
ENERGIA&rdquo;, composed of:</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">a) Regulated Contracting Environment
&ldquo;CONTA &ndash; ACR&rdquo;. The purpose of this account is to cover costs incurred by the distribution concession operators
relating to involuntary spot market exposure and the costs of thermal power dispatching in 2014, linked to CCEAR in the modality
due to the availability of electric energy. In October 2019, the remaining balance was returned to the concessionaires, according
to the percentage defined by ANEEL, by Order No. 2,755 / 2019.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">b) &ldquo;CDE-ENERGIA&rdquo; destined
to the return of the resources received by the distribution concession operators, from January 2013 to February 2014, to cover
costs relating to involuntary spot market exposure and the hydrological risk of the plants contracted on a regime of quotas and
the costs of thermal power dispatching for reasons of energy security, in compliance with Decree 7,895/2013 and Decree 8,203/2014.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
annual quotas for each distributor are defined by ANEEL through resolutions enacted by it. The balance at December 31, 2019 is
as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt; line-height: 8pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 65%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 2pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Resolutions</B></FONT></TD>
    <TD STYLE="border-top: Black 2pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Period</B></FONT></TD>
    <TD STYLE="border-top: Black 2pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt"><B>12.31.2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt"><B>CDE USO</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">Resolution No. 2,510/2018</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">January to June</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">&nbsp;&nbsp; 1,269,498</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(166, 166, 166) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: 12pt">(-) Preliminary injunctions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">January to June</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">&nbsp; (3,346)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt"><B>&nbsp;&nbsp; 1,266,152</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt"><B>CONTA ACR</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">Resolution No.&nbsp; 2,231/2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">January to February</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">&nbsp; 98,725</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">Resolution No.&nbsp; 2,521/2019</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">March to August</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">&nbsp;&nbsp; 296,174</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">Return - Order No. 2,755 / 2019</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">(46,722)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt"><B>&nbsp;&nbsp; 348,177</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt"><B>CDE ENERGIA</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">Resolution No. 2,510/2018</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">January to March</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">&nbsp; 41,431</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">(-) Preliminary injunctions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">January to March</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt">&nbsp; (1,603)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt"><B>&nbsp;39,828</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 2pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 2pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 2pt solid; line-height: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: 12pt"><B>&nbsp;&nbsp; 1,654,157</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 65%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Resolutions</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Period</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>CDE USO</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No. 2,368/2018</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to August</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;594,972</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No. 2,446/2018</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">September to December</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;445,075</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Preliminary injunctions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to December</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;(2)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;1,040,045</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>CONTA ACR</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No.&nbsp; 2,231/2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to December</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;557,981</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;557,981</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>CDE ENERGIA</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No. 2,202/2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to May</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;100,692</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No. 2,358/2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">June to December</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;145,007</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Preliminary injunctions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to December</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;(3,442)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;242,257</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;1,840,283</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 65%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Resolutions</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Period</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>CDE USO</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No.&nbsp; 2,202/2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53,329</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No.&nbsp; 2,204/2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">February to December</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672,756</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Preliminary injunctions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to December</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28,502)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697,584</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>CONTA ACR</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No.&nbsp; 2,004/2015</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to March</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148,087</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No.&nbsp; 2,231/2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">April to December</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341,161</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489,248</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>CDE ENERGIA</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No. 2,077/2016</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to May</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94,736</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Resolution No.&nbsp; 2,204/2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Junel to December</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140,968</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Preliminary injunctions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">January to December</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6,799)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228,906</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,415,738</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin: 0 0 10pt">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Injunctions</B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As a result of preliminary decisions
in favor of the Brazilian Association of Large Industrial Energy Consumers and Free Consumers - Abrace, the National Association
of Energy Consumers - Anace and other associates, which are challenging in court the tariff components of CDE Uso and CDE Energia
quotas, ANEEL by Homologatory Resolutions 1,967/2015, 1,986/2015 and 2,083/2016, ratified the tariff calculation, deducting these
charges to the associates of those entities, while the injunctions granted remained effective.</P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>31.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Copel
DIS anual tariff adjustment</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">ANEEL approved the result of Copel
DIS's Annual Tariff Adjustment through Homologatory Resolution No. 2,559, dated June 18, 2019, authorizing average adjustment of
3.41% (15.99% in 2018) applied to consumers and whose application occurred in full to tariffs as from June 24, 2019, and for high
voltage consumers the adjustment was 4.32%, while for low voltage consumers it was 2.92%.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The tariff recomposition includes:
10.54% related to inclusion of financial components; 1.12% resulting from the update of Parcel B (operating costs, depreciation
and remuneration); -3.08% related to the updating of Parcel A (energy, transmission and charges); and -5.17% that reflect the
withdrawal of financial components from the previous tariff process.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>32</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Operating
Costs and Expense</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: 8pt">
<TR>
    <TD STYLE="vertical-align: top; width: 45%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: right; margin: 0">&nbsp;</P>
        <P STYLE="text-align: right; margin: 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; text-align: right; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Operational</B></P>
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>costs</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; text-align: right; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Selling</B></P>
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>expenses</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; text-align: right; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>General and</B></P>
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>administrative expenses</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; text-align: right; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Other operating</B></P>
        <P STYLE="text-align: right; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>expenses, net</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; text-align: right; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Electricity purchased for resale (32.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (6,105,274)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (6,105,274)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Charge of the main distribution and transmission grid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,249,275)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,249,275)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Personnel and management (32.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (945,312)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(13,937)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(366,133)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,325,382)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Pension and healthcare plans (Note 23.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (169,476)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,914)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (66,936)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (238,326)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Materials and supplies&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (75,417)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (289)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (6,446)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (82,152)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Materials and supplies for power electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (49,352)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (49,352)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Natural gas and supplies for gas business</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (585,233)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (585,233)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Third-party services (32.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (433,429)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(23,002)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(156,690)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (613,121)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,031,880)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(9)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (47,228)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(14,719)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,093,836)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Credit losses, provisions and reversals&nbsp; (32.4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 33,290</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (153,640)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (254,465)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (374,815)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Construction cost (32.5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,091,396)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,091,396)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other operating costs and expenses, net (32.6)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (57,422)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(14,269)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (90,867)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (189,630)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (352,188)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(11,760,176)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (207,060)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(734,300)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (458,814)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(13,160,350)</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="border-width: 2px; border-style: initial; width: 100%; line-height: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; border-top: rgb(0, 0, 0) 2px solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Operational</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Selling</B></FONT></TD>
    <TD STYLE="width: 11%; text-align: center; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>General and</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Other operating</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; padding-right: 1.5pt; padding-left: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>costs</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>expenses</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">administrative expenses</FONT></B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>expenses, net</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Electricity purchased for resale (32.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(6,361,178)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(6,361,178)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Charge of the main distribution and transmission grid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,176,780)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,176,780)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Personnel and management (32.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(978,878)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (18,460)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (360,447)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,357,785)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Pension and healthcare plans (Note 23.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(176,102)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(2,447)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (65,201)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(243,750)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Materials and supplies&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (68,920)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(655)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (12,182)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (81,757)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Materials and supplies for power electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (19,729)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (19,729)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Natural gas and supplies for gas business</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(412,618)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(412,618)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Third-party services (32.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(392,869)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (23,266)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (156,092)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(572,227)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(709,575)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (15)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (26,015)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(13,574)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(749,179)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Credit losses, provisions and reversals&nbsp; (32.4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">18,920</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (81,936)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (243,681)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(306,697)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Construction cost (32.5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,052,208)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,052,208)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other operating costs and expenses, net (32.6)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(171,751)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (21,930)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (103,597)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(45,435)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(342,713)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (11,501,688)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; (148,709)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; (723,534)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (302,690)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (12,676,621)</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; border-top: rgb(0, 0, 0) 2px solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Operational</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Selling</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>General and</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Other operating</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: rgb(0, 0, 0) 2px solid; padding-right: 1.5pt; padding-left: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>costs</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>expenses</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: Black 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;administrative expenses</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>expenses, net</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Electricity purchased for resale (32.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(6,165,450)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(6,165,450)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Charge of the main distribution and transmission grid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(712,030)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(712,030)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Personnel and management (32.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(984,011)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (20,435)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (338,898)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,343,344)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Pension and healthcare plans (Note 23.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(175,479)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(2,424)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (59,694)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(237,597)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Materials and supplies&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (71,535)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(968)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (10,621)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (83,124)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Materials and supplies for power electricity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (97,360)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (97,360)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Natural gas and supplies for gas business</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(309,542)</FONT></TD>

    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(309,542)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Third-party services (32.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(386,435)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (18,826)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (116,254)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(521,515)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(686,007)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (16)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (32,070)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(13,506)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(731,599)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Credit losses, provisions and reversals&nbsp; (32.4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 122,782</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (90,478)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (397,843)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(365,539)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Construction cost (32.5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,003,881)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,003,881)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other operating costs and expenses, net (32.6)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(196,942)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (35,903)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (128,138)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(52,967)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(413,950)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (10,665,890)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; (169,050)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; (685,675)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (464,316)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (11,984,931)</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0 0 10pt">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>32.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Electricity
purchased for resale</FONT></B>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Purchase of Energy in the Regulated Environment - CCEAR</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 2,880,115</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,599,345</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,693,976</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Electric Energy Trade Chamber - CCEE</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,405,497</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,850,021</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,766,091</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Itaipu Binacional</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,316,524</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,272,177</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,117,957</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Bilateral contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 754,070</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 928,741</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 766,803</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Program for incentive to alternative energy sources - Proinfa</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 268,063</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 228,295</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 217,646</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Micro and mini generators and repurchase of customers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">52,871</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">12,373</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3,892</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(-) PIS/Pasep/Cofins taxes on electricity purchased for resale</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(571,866)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(529,774)</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(400,915)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 6,105,274</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 6,361,178</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 6,165,450</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>32.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Personnel
and management</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Personnel</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Salaries and management fees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 746,415</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 794,966</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 806,119</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Social charges on payroll</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 241,025</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 261,459</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 266,183</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Meal and education allowance</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 113,021</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 113,177</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 119,881</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Provisions for profit sharing (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 155,544</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">91,526</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 68,817</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Voluntary retirement program</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">43,517</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">69,289</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 53,468</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,299,522</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,330,417</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,314,468</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Management</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Salaries and management fees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">19,867</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">21,422</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 22,895</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Social charges on payroll</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 5,745</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 5,695</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 5,635</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 248</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 251</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 346</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>25,860</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>27,368</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 28,876</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,325,382</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,357,785</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,343,344</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(a) According to Federal Law No. 10,101/2000, State Decree No. 1,978/2007 and State Law No. 16,560/2010.</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>32.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Third
party services</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Maintenance of electrical system</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 164,572</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 144,211</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 135,265</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Communication, processing and transmission of data</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 115,037</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 115,397</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 94,230</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Maintenance of facilities</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 105,586</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 91,872</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 95,176</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Consumer service</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 55,632</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 34,502</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 29,789</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Meter reading and bill delivery</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 45,515</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 43,968</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 49,647</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Consulting and audit</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 21,016</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 41,615</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 21,589</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other services</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 105,763</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 100,662</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 95,819</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 613,121</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 572,227</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 521,515</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>32.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Credit
losses, provisions and reversals</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Provision for litigations</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 257,921</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 219,636</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 386,373</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Impairment of assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Power generation concession contract (Note 10.5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (2,945)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (4,758)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (1,117)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Credits on sales and purchases of gas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (123,586)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Property, plant and equipment - generation segment (Note 17.7)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (117,744)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(14,162)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,921</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Property, plant and equipment - telecommunications segment (Note 17.8)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 87,399</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Expected credit losses (Trade accounts and Other receivables)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 153,640</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 96,202</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 90,478</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Tax credits estimated losses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (3,456)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">9,779</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 11,470</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 374,815</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 306,697</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 365,539</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="margin: 0 0 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>32.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Construction
costs</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Materials and supplies</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 548,336</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 507,899</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 387,278</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Third party services</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 395,607</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 400,680</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 437,788</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Personnel</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 125,777</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 124,469</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 143,266</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Others</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">21,676</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">19,160</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">35,549</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,091,396</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,052,208</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,003,881</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="margin: 0 0 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>32.6&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Other
operating costs and expenses, net</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Net losses in the decommissioning and disposal of assets (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 154,628</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 106,675</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">58,569</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial offset for the use of water resources</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 103,737</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 105,310</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 110,971</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 35,319</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">84,492</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">87,759</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Compensation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 66,550</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">30,949</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">45,712</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Collection charge</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 51,156</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">44,682</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Advertising and publicity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 29,132</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">22,135</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">27,768</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Leasing and rent</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">9,215</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">40,016</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">32,037</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Gain (loss) on sale of investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (28,650)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other net income, costs and expenses (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (97,549)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (91,546)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">79,784</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 352,188</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 342,713</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 413,950</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(a) Of the total recorded in 2019, R$ 124,067 refer to write-offs of Copel Telecomunica&ccedil;&otilde;es' fixed assets (Note 17.8).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(b) The 2018 balance includes revenue of R$ 72,068 related to reimbursement from suppliers of goods from the wind farms of the Brisa Complex. The 2019 balance includes R$ 97,664 of water rate reversal (TCFRH)</FONT></TD></TR>
</TABLE>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>33&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Financial
Results</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: 8pt">
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD width="15%" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD width="15%" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD width="15%" STYLE="border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Financial income</B></FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD width="15%" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Arrears charges on bills</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 225,956</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 226,050</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 191,554</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Interest and monetary variation of CRC transfer (Note 8.1)</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 192,724</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 214,627</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 141,923</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Return on financial investments</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 126,510</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 98,841</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 114,523</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Remuneration of net sectorial assets and liabilities (Note 9.2)</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 47,378</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 43,966</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 20,493</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Monetary variation over the Itaipu power purchase</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 26,332</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 24,658</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 17,777</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Recognition of tax credit (33.1)</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 38,434</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 55,096</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Monetary variation and adjust to present value of accounts</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1px solid">&nbsp;</TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1px solid">&nbsp;</TD>
    <TD width="15%" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; payable related to the concession (Note 26.1)</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,462</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,047</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 10,813</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other financial income</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 91,445</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 149,630</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 202,227</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 750,241</B></FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 813,915</B></FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 699,310</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>( - ) Financial expenses</B></FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD width="15%" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Monetary and exchange variation and debt charges</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 906,952</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 871,397</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 993,970</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Monetary variation and adjust to present value of accounts</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1px solid">&nbsp;</TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1px solid">&nbsp;</TD>
    <TD width="15%" STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; payable related to the concession (Note 26.1)</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 100,455</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 94,319</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 65,418</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Monetary variation over the Itaipu power purchase</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 29,547</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 50,203</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 12,264</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Interest on R&amp;D and EEP (Note 25.2)</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 24,570</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 25,407</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 34,345</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Interest and monetary variation of CRC transfer (Note 8.1)</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">8,495</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 25,830</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 51,211</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Remuneration of net sectorial assets and liabilities (Note 9.2)</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">5,753</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 23,747</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 29,622</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">PIS/Pasep/Cofins taxes on interest on capital</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 71,549</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 13,636</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 45,196</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other financial expenses</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 91,406</FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 147,426</FONT></TD>
    <TD width="15%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 215,724</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 1,238,727</B></FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,251,965</B></FONT></TD>
    <TD width="15%" STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,447,750</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="55%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Net</B></FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(488,486)</B></FONT></TD>
    <TD width="15%" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (438,050)</B></FONT></TD>
    <TD width="15%" STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; (748,440)</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="margin: 0 0 10pt"><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"> 33.1&nbsp;&nbsp;&nbsp;&nbsp;Recognition
of tax credit</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The balance of 2019 refers to the PIS/Pasep
and Cofins credit on the ICMS recognized by Compag&aacute;s, according to Note 13.2.1. The balance recorded in 2018 arises from
the tax credit recognized by the Brazilian Federal Revenue Service in favor of the Company in the updated amount of R$ 80,226,

regarding the disputed tax levy on Pasep from July 1988 to July 1995, in connection with the effects of Federal Senate Resolution
49, of October 9, 1995, which suspended the effects of Decree-Laws 2,445/1988 and 2,449/1988, deemed to be unconstitutional by
the Federal Supreme Court. From the total amount recognized, R$ 55,096 were recorded in financial income and R$ 25,129 in other
operating income.</P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>34</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Operating
Segments</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Operating segments are business activities
that generate revenues and incur expenses, whose operating results are regularly reviewed by the executive boards of the Company
and subsidiaries and by key strategic decision-makers responsible for allocating funds and assessing performance.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>34.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Products
and services from which the reportable segments have their revenues generated</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company operates in reportable segments identified by Management, through the chief officers of each business area, taking into
consideration the regulatory environments, the strategic business units and the different products and services. These segments
are managed separately, since each business and each company require different technologies and strategies.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
the period ended December 31, 2019, all sales have been to customers within the Brazilian territory, in addition, all noncurrent
assets are also located in the national territory.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company did not identify any customer who individually accounts for more than 10% of their total net revenue until December 31,
2019.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company evaluates the performance of each segment, based on information derived from the accounting<FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT>records.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
accounting policies of the operating segments are the same as those described in Note 4<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>34.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Company&rsquo;s
reportable segments</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
reportable segments of the Company, in accordance with IFRS 8, are:</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Power
generation and transmission (GET)&nbsp;</B>- its attribution is to produce electricity from hydraulic, wind, and thermal projects&nbsp;<B>(GER)&nbsp;</B>and
to provide services of transmission and transformation of electric power, being responsible for the construction, operation and
maintenance of substations, as well for the energy transmission lines&nbsp;<B>(TRA)</B>; for managers, the assets and liabilities
of the generation and transmission segments are shown on an aggregate basis while their result is presented separately<FONT STYLE="color: black">;</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Power
distribution (DIS) -&nbsp;</B>its attribution is to provide public electricity distribution services, being responsible for the
operation and maintenance of the distribution infrastructure, as well as providing related services;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Telecommunications
(TEL)&nbsp;</B>- its attribution is to provide telecommunications and general communication services;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>GAS&nbsp;</B>-
its attribution is to provide public service of piped natural gas distribution;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Power
sale (COM)&nbsp;</B>- its attribution is to trade energy and related services; and</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Holding
Company (HOL)&nbsp;</B>- its attribution is to participate in other companies.</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>34.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Assets
by reportable segment</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>ASSETS</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Electric Energy</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TEL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GAS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HOL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Intersegment</B></P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>operations</B></P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>GET</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>DIS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>COM</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 19,457,551</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 13,434,522</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 690,372</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 1,527,098</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 904,993</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 3,183,677</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (885,662)</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>38,312,550</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 2,039,443</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 4,631,991</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 229,630</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 528,754</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 313,896</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 1,127,469</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (961,987)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 7,909,196</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>NON-CURRENT ASSETS&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 17,418,108</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 8,802,531</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 460,742</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 998,344</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 591,097</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 2,056,208</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 76,325</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>30,403,354</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Long term assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 5,054,560</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 3,051,058</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 460,312</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 137,770</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 576,190</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 1,879,619</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (296,879)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">10,862,630</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 2,371,374</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 813</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">247</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 150,746</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 2,523,179</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Property, plant and equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 9,735,093</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 53</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 833,974</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 22,983</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">10,592,103</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Intangible assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 233,973</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 5,703,686</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">123</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 19,844</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">1,781</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">373,204</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 6,332,611</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Right-of-use asset</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">23,108</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">46,974</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">7</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">6,756</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 14,907</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">1,079</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">92,831</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>ASSETS</B></FONT></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Electric Energy</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TEL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GAS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HOL</B></FONT>&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Intersegment</B></P>
        <P STYLE="text-align: center; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>operations</B></FONT>&nbsp;</P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>GET</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>DIS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>COM</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 18,573,953</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 12,331,603</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 227,287</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,264,748</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 675,286</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 3,359,407</B></FONT></TD>
    <TD STYLE="width: 8%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (502,184)</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>35,930,100</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 1,722,519</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 3,971,915</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 181,077</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 88,239</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 204,725</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,214,523</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (705,152)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 6,677,846</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>NON-CURRENT ASSETS&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 16,851,434</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 8,359,688</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 46,210</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,176,509</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 470,561</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 2,144,884</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>202,968</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>29,252,254</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Long term assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 4,660,867</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 2,968,282</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 43,564</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 88,798</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 466,942</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,950,280</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (164,473)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">10,014,260</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 2,212,271</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,343</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2,442</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 152,178</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,368,234</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Property, plant and equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 9,728,872</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 51</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,071,489</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 40,251</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">10,840,663</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Intangible assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 249,424</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 5,390,063</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">153</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 16,222</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3,619</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2,175</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">367,441</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 6,029,097</FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px"></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>34.4&nbsp;&nbsp;&nbsp;&nbsp;Statement
of income by reportable segment</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENT OF INCOME</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Electric Energy</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TEL</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GAS</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HOL</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Intersegment</B></P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>operations</B></P></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GET</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: right; margin: 0">&nbsp;</P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif"><B>DIS</B></P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: right; margin: 0">&nbsp;</P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif"><B>COM</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>GER</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>TRA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>NET OPERATING REVENUES</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 3,368,375</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 871,510</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 10,401,301</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,810,901</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 418,030</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 866,884</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(1,492,727)</B></FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 16,244,274</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Net operating revenues - third-parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,233,367</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 643,596</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 10,352,690</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,773,765</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 375,030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 865,826</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 16,244,274</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Net operating revenues - between segments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,135,008</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 227,914</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 48,611</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 37,136</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 43,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,058</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(1,492,727)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>OPERATING COSTS AND EXPENSES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;(1,659,225)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (479,538)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (9,579,915)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;(1,608,245)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (604,616)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(662,306)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(59,232)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 1,492,727</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(13,160,350)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Energy purchased for resale</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(262,288)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (5,424,207)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;(1,590,272)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 1,171,493</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (6,105,274)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Charges for use of the main transmission grid</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(451,107)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,044,135)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 245,967</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (1,249,275)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Personnel and management</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(217,792)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (139,662)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (822,772)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (13,041)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(73,890)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (36,932)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(21,293)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (1,325,382)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Pension and healthcare plans</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (37,955)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(25,027)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (155,784)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,481)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(11,384)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (4,122)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (2,573)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (238,326)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Materials and supplies</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (10,987)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (3,766)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(64,419)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(15)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (1,955)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (217)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (793)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (82,152)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Raw materials and supplies for generation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (50,388)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,036</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (49,352)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Natural gas and supplies for gas business</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(585,233)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (585,233)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Third party services</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(108,309)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(38,092)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (397,390)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,718)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(87,113)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (12,971)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(16,734)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">49,206</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (613,121)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(551,576)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(12,987)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (343,597)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(44)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (152,863)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (30,480)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (2,289)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (1,093,836)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Provision (reversal) for litigations</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (45,212)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(24,398)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (164,705)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (156)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(14,072)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (292)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (9,086)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (257,921)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Impairment of assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 117,648</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3,041</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">120,689</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other estimated losses, provisions and reversals</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 43,207</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(41,350)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (137,680)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (100,691)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,063)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (237,583)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Construction cost</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (175,220)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (904,023)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (12,153)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (1,091,396)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Other operating costs and expenses, net</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (84,466)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(19,036)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (121,203)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,514)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (162,648)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 21,157</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (9,503)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">25,025</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (352,188)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>EQUITY IN EARNINGS OF INVESTEES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 14,840</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 85,752</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (280)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>6,445</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>106,757</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>PROFIT (LOSS) BEFORE FINANCIAL</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>INCOME AND TAX</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,723,990</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 477,724</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>821,386</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 202,376</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (186,586)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 204,578</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(52,787)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>3,190,681</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 80,632</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 20,637</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">355,152</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3,004</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 20,760</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 53,625</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 217,057</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (626)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">750,241</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(457,528)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (138,947)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (273,909)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (220)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(53,857)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (10,439)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (304,453)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 626</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (1,238,727)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>OPERATING PROFIT (LOSS)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,347,094</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 359,414</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>902,629</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 205,160</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (219,683)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 247,764</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (140,183)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>2,702,195</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Income tax and social contribution&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(289,831)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(54,695)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (201,236)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (69,854)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 68,644</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (74,791)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(17,563)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (639,326)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>NET INCOME (LOSS)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,057,263</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 304,719</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>701,393</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 135,306</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (151,039)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 172,973</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (157,746)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>2,062,869</B></FONT></TD></TR>
</TABLE>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>STATEMENT OF INCOME</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Electric Energy</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TEL</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GAS</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HOL</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Intersegment</B></P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>operations</B></P></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>GET</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>DIS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>COM</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>GER</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>TRA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>NET OPERATING REVENUES</B></FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 3,007,565</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 904,826</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 9,972,442</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 1,341,162</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 421,408</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 588,532</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>(1,301,155)</B></FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 14,934,780</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Net operating revenues - third-parties</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 2,116,875</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 680,567</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 9,932,267</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 1,341,162</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 364,741</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 582,895</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (83,727)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 14,934,780</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Net operating revenues - between segments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 890,690</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 224,259</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">40,175</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 56,667</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">5,637</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(1,217,428)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>OPERATING COSTS AND EXPENSES</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;(1,619,431)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (561,850)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;(9,474,473)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;(1,354,578)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (369,201)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(515,594)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(57,993)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 1,276,499</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(12,676,621)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Energy purchased for resale</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(417,918)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;(5,577,719)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;(1,338,473)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 972,932</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (6,361,178)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Charges for use of the main transmission grid</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(408,347)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;(1,012,062)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 243,629</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,176,780)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Personnel and management</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(214,855)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (147,139)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(837,728)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (13,734)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(92,472)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (34,896)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(16,961)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,357,785)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Pension and healthcare plans</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (36,379)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(25,884)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(159,842)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (1,507)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(13,892)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (3,881)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (2,365)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (243,750)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Materials and supplies</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (11,637)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (5,054)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (60,379)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(65)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,763)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (2,110)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (749)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (81,757)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Raw materials and supplies for generation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (25,367)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">5,638</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (19,729)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Natural gas and supplies for gas business</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(412,618)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (412,618)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Third party services</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(119,668)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(33,489)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(339,399)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (1,700)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(91,127)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (17,034)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(32,311)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 62,501</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (572,227)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Depreciation and amortization</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(353,916)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(11,386)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(301,581)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(16)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(58,209)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (22,759)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,312)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (749,179)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Provision (reversal) for litigations</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 18,059</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">7,879</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(222,057)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(12,844)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (154)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(10,528)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (219,636)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Impairment of assets</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 22,312</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">1,648</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (5,040)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 18,920</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other estimated losses, provisions and reversals</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 55,457</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(49,486)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (77,985)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (935)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(12,749)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (6,017)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(14,266)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (105,981)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Construction cost</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (277,259)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(741,855)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (13,478)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (19,616)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,052,208)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other operating costs and expenses, net</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(127,172)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(20,032)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(143,866)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">1,843</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(86,145)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (2,647)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 18,851</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 16,455</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (342,713)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>EQUITY IN EARNINGS OF INVESTEES</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>5,514</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 123,676</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(15)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>6,713</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>135,888</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>PROFIT (LOSS) BEFORE FINANCIAL</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; INCOME AND TAX</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 1,393,648</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 466,652</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 497,969</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (13,431)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 52,207</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 72,938</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(51,280)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (24,656)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>2,394,047</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Financial income</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 119,196</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 29,163</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 335,377</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">6,065</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 16,808</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 29,454</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 305,344</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (27,492)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">813,915</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Financial expenses</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(517,832)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (136,455)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(308,319)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (104)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(41,713)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (31,865)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (243,169)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 27,492</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,251,965)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>OPERATING PROFIT (LOSS)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 995,012</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 359,360</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 525,027</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (7,470)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 27,302</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 70,527</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 10,895</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (24,656)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>1,955,997</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Income tax and social contribution&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(327,598)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(75,361)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(148,244)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">2,632</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (2,853)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (10,909)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 41,957</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">8,383</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (511,993)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>NET INCOME (LOSS)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 667,414</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 283,999</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 376,783</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (4,838)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 24,449</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 59,618</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 52,852</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (16,273)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>1,444,004</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>STATEMENT OF INCOME</B></FONT></TD>
    <TD COLSPAN="4" STYLE="vertical-align: middle; border-top: Black 1pt solid; text-align: center; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Electric Energy</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; text-align: center; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TEL</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; text-align: center; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GAS</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; text-align: center; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HOL</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; text-align: center; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Intersegment</B></P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>operations</B></P></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; text-align: center; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GET</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>DIS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>COM</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2017</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GER</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TRA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>NET OPERATING REVENUES</B></FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>3,176,811</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>819,623</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 9,358,664</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>664,495</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>380,550</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>515,563</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="width: 7%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (891,133)</B></FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 14,024,573</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Net operating revenues - third-parties</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">2,851,644</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">640,199</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 9,324,633</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">664,495</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">306,473</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">510,010</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (272,881)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 14,024,573</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Net operating revenues - between segments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">325,167</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">179,424</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">34,031</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 74,077</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">5,553</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (618,252)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>OPERATING COSTS AND EXPENSES</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (1,768,390)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (546,510)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>(9,071,359)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (654,445)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (286,363)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (309,213)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (139,784)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 891,133</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; (11,884,931)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Energy purchased for resale</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (290,019)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(5,717,970)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (654,026)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 596,565</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(6,065,450)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Charges for use of the main transmission grid</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (352,958)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(554,805)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 195,733</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(712,030)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Personnel and management</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (218,456)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (122,515)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(822,963)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (12,993)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (107,874)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(35,761)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (22,782)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(1,343,344)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Pension and healthcare plans</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(38,782)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(22,733)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(154,285)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,415)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (14,800)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (3,577)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(2,005)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(237,597)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Materials and supplies</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(12,463)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (4,732)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (60,320)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (27)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(2,978)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,936)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (668)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (83,124)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Raw materials and supplies for generation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (102,719)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">5,359</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (97,360)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Natural gas and supplies for gas business</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (309,542)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(309,542)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Third party services</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (120,993)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(24,609)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(347,393)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,280)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (67,612)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(22,670)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (15,089)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 78,131</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(521,515)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Depreciation and amortization</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (368,987)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (7,201)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(285,835)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(9)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (39,553)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(28,753)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(1,261)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(731,599)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Provision (reversal) for litigations</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(39,733)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(81,210)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(168,600)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (156)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(3,648)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">854</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (93,880)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(386,373)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Impairment of assets</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">3,886</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">123,586</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(4,690)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 122,782</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other estimated losses, provisions and reversals</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (9,397)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">1,107</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (83,916)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(8,309)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (1,433)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(101,948)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Construction cost</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (272,216)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(717,351)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(14,314)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(1,003,881)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Other operating costs and expenses, net</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (217,769)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(12,401)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(157,921)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 15,461</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (41,589)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(15,667)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">591</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 15,345</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(413,950)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>EQUITY IN EARNINGS OF INVESTEES</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (5,777)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 93,145</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (564)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 14,935</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 101,739</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>PROFIT (LOSS) BEFORE FINANCIAL INCOME AND TAX</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>1,302,644</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>366,258</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 287,305</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>9,486</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 94,187</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>206,350</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (124,849)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 2,141,381</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Financial income</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 73,433</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 13,313</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 380,597</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">6,515</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 11,828</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 38,821</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">186,660</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(11,857)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 699,310</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Financial expenses</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (565,837)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (123,707)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(343,540)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (322)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (30,691)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(64,433)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (331,077)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 11,857</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(1,447,750)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>OPERATING PROFIT (LOSS)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>810,240</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>255,864</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 324,362</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 15,679</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 75,324</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>180,738</B></FONT></TD>

    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (269,266)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 1,392,941</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">Income tax and social contribution&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (191,899)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(30,515)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">22,893</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; (2,638)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; (21,272)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(66,785)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 15,530</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">(274,686)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>NET INCOME (LOSS)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>618,341</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>225,349</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 347,255</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 13,041</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 54,052</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>113,953</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; (253,736)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 1,118,255</B></FONT></TD></TR>
</TABLE>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>34.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Additions
to noncurrent assets by reportable segment</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Electric Energy</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TEL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GAS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HOL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GET</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>DIS</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>COM</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Contract assets</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 917,577</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 17,590</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 935,167</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Property, plant and equipment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 522,744</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 14</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>59,216</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 285</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 582,259</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Intangible assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>4,272</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 3</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>486</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 271</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>5,032</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Right-of-use asset</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>33,461</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>66,621</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 8</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 9,950</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 16,933</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 402</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 127,375</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">IFRS 16 Initial adoption (Note 27.1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">32,919</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">60,494</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 9,868</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 14,356</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 385</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 118,022</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Additions for the period</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">542</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">6,127</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 8</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 82</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 2,577</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 17</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">9,353</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Electric Energy</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TEL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GAS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HOL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GET</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>DIS</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>COM</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Contract assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 797,832</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 15,618</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 813,450</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Property, plant and equipment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 1,160,967</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 4</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 308,242</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 267</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 1,469,480</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Intangible assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>6,351</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 1,235</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>3</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>7,589</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Electric Energy</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>TEL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GAS</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>HOL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>GET</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>DIS</B></FONT></TD>
    <TD STYLE="vertical-align: middle; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>COM</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Property, plant and equipment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 1,077,088</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 7</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 238,944</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; -</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 376</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 1,316,415</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Intangible assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>3,996</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 757,709</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>101</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 2,200</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 13,745</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 635</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 778,386</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>35</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Financial
Instruments</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>35.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Categories
and determination of fair value of financial instruments</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: center; margin: 0">&nbsp;</P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Note</B></P></TD>
    <TD ROWSPAN="2" STYLE="border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
        <P STYLE="text-align: center; margin: 0">&nbsp;</P>
        <P STYLE="text-align: center; margin: 0; font: 8pt Arial, Helvetica, Sans-Serif; color: #000000"><B>Level</B></P></TD>
    <TD COLSPAN="2" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Book value</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Fair value</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Book value</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>Fair value</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Financial assets</B></FONT></TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Fair value through profit or loss</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Cash and cash equivalents (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,941,727</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,941,727</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,948,409</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 1,948,409</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Bonds and securities (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">6</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,429</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,429</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 696</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 696</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Bonds and securities (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">6</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 279,652</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 279,652</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 343,600</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 343,600</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Accounts receivable - distribution concession (c)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">10.1 and 10.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,161,203</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,161,203</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,105,282</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 1,105,282</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Accounts receivable - generation concession (d)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">10.5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 69,182</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 69,182</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 65,811</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 65,811</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Fair value in the purchase and sale of power in the active market (e)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">12</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 460,635</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 460,635</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 14,793</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 14,793</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other temporary investments (f)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 15,566</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 15,566</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 11,557</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 11,557</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other temporary investments (f)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 12,168</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 12,168</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">7,954</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">7,954</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,942,562</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 4,942,562</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 3,498,102</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 3,498,102</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Amortized cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Collaterals and escrow accounts (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 147</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 147</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 203</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 203</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Collateral and escrow deposits - STN (g)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">21.1</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 98,433</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">102,733</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 89,555</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 76,524</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Trade accounts receivable (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">7</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3,182,567</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3,182,567</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3,107,006</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 3,107,006</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">CRC Transferred to the Paran&aacute; State Government (h)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">8</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,350,685</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,479,683</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,445,042</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 1,546,469</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Sectorial financial assets (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 473,989</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 473,989</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 678,819</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 678,819</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Accounts receivable - concessions - RBSE (c)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">10.4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 739,269</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 739,269</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 753,826</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 753,826</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Accounts receivable - concessions - bonus from the grant (i)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">10.3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 647,984</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 738,483</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 625,772</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 714,880</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 6,493,074</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 6,716,871</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 6,700,223</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 6,877,727</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total financial assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 11,435,636</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>11,659,433</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 10,198,325</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 10,375,829</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Financial liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Fair value in the purchase and sale of power (e)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">28</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 251,973</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 251,973</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 11,007</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 11,007</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Derivatives fair value - forward contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">28</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,203</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,203</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 253,176</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 253,176</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 11,007</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp; 11,007</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Amortized cost</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Sectorial financial liabilities (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 102,284</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 102,284</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 96,531</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 96,531</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Ordinary financing of taxes with the federal tax authorities (g)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">13.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 18,063</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">18,001</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 86,632</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp; 84,383</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Special Tax Regularization Program - Pert (g)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">13.2</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 497,207</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">446,448</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 518,442</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 469,304</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Accounts payable to suppliers (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">20</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,873,193</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,873,193</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,469,199</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 1,469,199</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Loans and financing (g)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">21</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 3,168,710</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,204,188</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 4,047,307</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 4,012,621</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Debentures (J)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">22</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 8,540,366</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 8,540,366</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 7,518,131</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal">&nbsp;&nbsp; 7,518,133</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Accounts payable related to concession (k)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">26</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 612,587</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">694,742</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 584,163</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 687,869</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Lease liabilities (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">27</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">96,604</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">96,604</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>14,909,014</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>14,975,826</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 14,320,405</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 14,338,040</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Total financial liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>15,162,190</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>15,229,002</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 14,331,412</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black; line-height: normal"><B>&nbsp;&nbsp; 14,349,047</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Different levels are defined as follows:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Level 1</B>: Obtained from quoted prices (not adjusted) in active markets for identical assets and liabilities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Level 2:</B>&nbsp;obtained through other variables in addition to quoted prices included in Level 1, which are observable for the&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">assets or liabilities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Level 3:</B>&nbsp;obtained through assessment techniques which include variables for the assets or liabilities, which however are not based&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">on observable market data.</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"><B><BR>&nbsp;</B></P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; color: rgb(0, 0, 0); margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Determining
fair values</B>&nbsp;</P>

<P STYLE="text-align: justify; text-indent: -19.85pt; margin: 6pt 0 6pt 19.85pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>a)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Equivalent
to their respective carrying values due to their nature and terms of<FONT STYLE="letter-spacing: -0.6pt">&nbsp;</FONT>realization.</FONT></P>

<P STYLE="text-align: justify; text-indent: -19.85pt; margin: 6pt 0 6pt 19.85pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>b)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Fair
value is calculated based on information&nbsp;<FONT STYLE="letter-spacing: 0.1pt">made&nbsp;</FONT>available by the financial
agents and the market values of the bonds issued by the Brazilian<FONT STYLE="letter-spacing: -0.25pt">&nbsp;</FONT>government</FONT></P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>c)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The
criteria are disclosed in Note<FONT STYLE="letter-spacing: 0.05pt">&nbsp;</FONT>4.4 to the financial statements.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>d)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The
fair values of generation assets approximate their carrying amounts, according to Note<FONT STYLE="letter-spacing: -0.35pt">&nbsp;</FONT>4.4
of these Financial Statements.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>e)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: 20px">The
fair values of assets and liabilities are equivalent to their carrying amounts according to Note 4.15 of these Financial Statements.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>f)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Investments
in other companies, stated at fair value, which is calculated according to the price quotations published in an active market,
for assets classified as level 1 and determined in view of the comparative assessment model for assets classified as level<FONT STYLE="letter-spacing: -1pt">&nbsp;</FONT>2.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>g)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The
cost of the last borrowing taken out by the Company is used&nbsp;<FONT STYLE="letter-spacing: 0.15pt">as&nbsp;</FONT>a basic assumption,&nbsp;<FONT STYLE="color: black">120.0%
of CDI</FONT>, for discount of the expected payment<FONT STYLE="letter-spacing: -0.3pt">&nbsp;</FONT>flows.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>h)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The
Company based its calculation on the comparison with a long-term and post-fixed National Treasury Bond (NTN-B) maturing on August
15, 2026, which yields approximately 2.97% p.a. plus the IPCA inflation index.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>i)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Receivables
related to the concession agreement for providing electricity generation services under quota arrangements, having their fair value
calculated by expected cash inflows, discounted at the&nbsp;<FONT STYLE="letter-spacing: 0.15pt">rate&nbsp;</FONT>established by
ANEEL auction notice 12/2015<FONT STYLE="letter-spacing: -0.2pt">&nbsp;</FONT>(9.04%).</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>j)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Calculated
from the Unit Price quotation (PU) for December 31, 2019, obtained from the Brazilian Association of Financial and Capital Markets
(ANBIMA), net of unamortized financial<FONT STYLE="letter-spacing: -0.55pt">&nbsp;</FONT>cost.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>k)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Actual
net discount rate of 8.16% p.a., in line with the Company's estimated rate for long-term<FONT STYLE="letter-spacing: -0.5pt">&nbsp;</FONT>projects.</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>35.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Financial
risk management</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company's business activities are exposed to the following risks arising from financial instruments:</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Credit
risk</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Credit
risk is the risk of the Company incurring losses due to a customer or counterparty in a financial instrument, resulting from failure
in complying with their contractual obligations.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Exposure to credit risk</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Cash and cash equivalents (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,941,727</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,948,409</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Bonds and securities (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">282,081</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">344,296</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Pledges and restricted deposits linked (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 98,580</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 89,758</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Trade accounts receivable (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,182,567</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,107,006</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">CRC Transferred to the Paran&aacute; State Government (c)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,350,685</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,445,042</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Sectorial financial assets (d)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">473,989</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">678,819</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts receivable - distribution concession (e)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,161,203</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,105,282</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts receivable - concessions - RBSE (f)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">739,269</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">753,826</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts receivable - concessions - Bonus from the grant (g)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">647,984</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">625,772</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts receivable - generation concessions (h)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;69,182</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 65,811</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Other temporary investments (i)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 27,734</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 19,511</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 10,975,001</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 10,183,532</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>a)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The
Company manages the credit risk of its assets in accordance with the Management&rsquo;s policy of investing virtually all of its
funds in federal banking institutions. As a result of legal and/or regulatory requirements, in exceptional circumstances the Company
may invest funds in prime private<FONT STYLE="letter-spacing: -1.1pt">&nbsp;</FONT>banks.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>b)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The
risk arises from the possibility that the Company might incur losses resulting from difficulties to receive its billings to customers.
This risk is directly related to internal and external factors to Copel. To mitigate this type of risk, the Company manages its
accounts receivable, detecting defaulting consumers, implementing specific collection policies and suspending the supply and/or
recording of energy and the provision of service, as established in contract and regulatory standards.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>c)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Management
believes this credit risk is low because repayments are secured by resources from<FONT STYLE="letter-spacing: -0.9pt">&nbsp;</FONT>dividends.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>d)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Management
considers the risk of this credit to be reduced, since the agreements signed guarantee the unconditional right to receive cash
at the end of the concession to be paid by the Concession Grantor, corresponding to the costs not recovered through the tariff.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>e)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Management
considers the risk of this credit to be reduced, since the agreements signed guarantee the unconditional right to receive cash
at the end of the concession to be paid by the Concession Grantor, referring to investments in infrastructure not recovered through
the<FONT STYLE="letter-spacing: -0.35pt">&nbsp;</FONT>tariff<FONT STYLE="color: black">.</FONT></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>f)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Management
considers the credit risk reduced to the balance of RBSE assets, even in light of the injunctions that temporarily reduced the
RAP to be received, as described in Note 10.4.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>g)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Management
considers the risk of such credit to be low, as the contract for the sale of energy by quotas guarantees the receipt of an Annual
Generation Revenue - RAG, which includes the annual amortization of this amount during the concession<FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT>term.</FONT></P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>h)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">For
the generation concession assets, ANEEL published Normative Resolution 596/2013, which deals with the definition of criteria for
calculating the New replacement value (Valor novo de reposi&ccedil;&atilde;o &ndash; VNR), for the purposes of indemnification.
Management's expectation of indemnification for these assets supports recoverability of the balances recorded, as described in
Note 10.5.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>i)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">This
risk arises from the possibility that the Company might incur losses resulting from the volatility on the stock market. This type
of risk involves external factors and has been managed through periodic assessment of the variations occurred in the<FONT STYLE="letter-spacing: -0.25pt">&nbsp;</FONT>market.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Liquidity
risk</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company's liquidity risk consists of the possibility of having insufficient funds, cash or other financial assets, to settle obligations
on their scheduled maturity dates.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company manages liquidity risk relying on a set of methodologies, procedures and instruments applied to secure ongoing control
over financial processes to ensure proper management of risks.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Investments
are financed by incurring medium and long-term debt with financial institutions and capital markets.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Short,
medium and long-term business projections are made and submitted to Management bodies for evaluation. The budget for the next fiscal
year is annually approved.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Medium
and long-term business projections cover monthly periods over the next five years. Short-term projections consider daily periods
covering only the next 90 days.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company permanently monitors the volume of funds to be settled by controlling cash flows to reduce funding costs, the risk involved
in the renewal of loan agreements and compliance with the financial investment policy, while concurrently keeping minimum cash
levels.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; color: rgb(0, 0, 0)"><FONT STYLE="font-style: normal; font-weight: 400; text-transform: none; letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)">The
following table shows the expected undiscounted settlement amounts in each time range. Projections were based on financial indicators
linked to the related financial instruments and forecast according to average market expectations as disclosed in the Central
Bank of Brazil's Focus Report, which provides the average expectations of market analysts for these indicators for the current
year and for the next 3 years. As from 2024, 2023 indicators are repeated on an unaltered basis throughout the forecast period.</FONT></P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 31%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Less than</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>1 to 3</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>3 months</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>1 to 5</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Over</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Interest (a)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;1 month&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;months</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;to 1 year</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; years</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;5 years</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Total&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Note 21</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 31,783</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">115,995</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 308,094</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2,063,354</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,666,502</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">4,185,728</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Note 22</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 391,329</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 61,304</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,049,225</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">7,256,323</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,655,253</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 10,413,434</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts payable related</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Rate of return +</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; to concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">IGP-M and IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 6,099</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 12,198</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 56,222</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 336,027</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,389,334</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,799,880</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts payable to suppliers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,313,913</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">291,700</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 127,030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 140,550</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,873,193</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Ordinary financing of taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; with the federal tax authorities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Selic</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 6,037</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 12,117</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 18,154</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Special Tax Regularization Program - Pert</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Selic</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 4,122</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 8,282</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 37,820</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 219,788</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 335,681</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 605,693</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Sectorial financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Selic</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 108,367</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 108,367</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Lease liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Note 27</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 3,485</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 6,980</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 31,793</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 73,515</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 11,226</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 126,999</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>1,756,769</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>508,576</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>1,610,184</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 10,197,923</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>5,057,996</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 19,131,448</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(a) Effective interest rate - weighted average.</FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0 0 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 10pt; font: 10pt/20px Arial, Helvetica, Sans-Serif">As disclosed in Notes 21.5 and 22.3, the Company have
loans and financing agreements and debentures with covenants that if breached may have their payment accelerated.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.3</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Market
risk</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Market
risk is the risk that the fair value or the future cash flows of a financial instrument shall oscillate due to changes in market
prices, such as currency rates, interest rates and stock price. The purpose of managing this risk is to control exposures within
acceptable limits, while optimizing return.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -0.25in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>a)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Foreign
currency risk (US Dollar)</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">This
risk comprises the possibility of losses due to fluctuations in foreign exchange rates, which may reduce assets or increase liabilities
denominated in foreign currencies.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company's foreign currency indebtedness is not significant, and it is not exposed to foreign exchange derivatives. The Company
monitors all relevant foreign exchange<FONT STYLE="letter-spacing: -0.5pt">&nbsp;</FONT>rates.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
effect of the exchange rate variation resulting from the power purchase agreement with Eletrobras (Itaipu) is transferred to customers
in Copel DIS's next tariff<FONT STYLE="letter-spacing: -0.25pt">&nbsp;</FONT>adjustment.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
exchange rate risk posed by the purchase of gas arises from the possibility of Compag&aacute;s reporting losses on the fluctuations
in foreign exchange rates, increasing the amount in Reais of the accounts payable related to the gas acquired from Petrobras. This
risk is mitigated by the monitoring and transfer of the price fluctuation through tariff, when possible. The Company monitors these
fluctuations on an ongoing basis.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Sensitivity
analysis of foreign currency risk</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black">The
Company has developed a sensitivity analysis in order to measure the impact of the devaluation of the US dollar on its&nbsp;</FONT>loans
and financing<FONT STYLE="color: black">&nbsp;subject to currency risk</FONT>.</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black">The
baseline scenario takes into account the existing balances in each account as of&nbsp;</FONT>December<FONT STYLE="color: black">&nbsp;31,
2019&nbsp;</FONT>and the probable scenario assumes a variation in the foreign exchange rate - prevailing at the end of the period
(R$/US$ 4.60) based on the median market expectation for 2020 reported in the Central&nbsp;<FONT STYLE="letter-spacing: 0.1pt">Bank's&nbsp;</FONT>Focus
report of April 9, 2020. For the scenarios 1 and 2, deteriorations of 25% and 50%, respectively, were considered for the main
risk factor for the financial instrument compared to the rate used in the probable scenario.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 41%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal"><B>.</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Baseline</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Projected scenarios - Dec.2020</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Foreign exchange risk</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Risk</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Probable&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Scenario 1</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Scenario 2</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Financial assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Collaterals and escrow accounts - STN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">USD depreciation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 98,433</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 13,903</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(14,181)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(42,265)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 98,433</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 13,903</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(14,181)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(42,265)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Financial liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Loans and financing - STN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">USD appreciation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(108,983)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(15,393)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(46,487)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(77,581)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Suppliers</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Eletrobras (Itaipu)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">USD appreciation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(222,431)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(31,416)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(94,878)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(158,340)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-indent: 8pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Acquisition of gas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">USD appreciation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(79,174)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(11,183)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(33,772)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(56,361)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-indent: 16pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(410,588)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(57,992)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(175,137)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(292,282)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="margin: 0 0 10pt; font: 10pt/20px Arial, Helvetica, Sans-Serif">In addition to the sensitivity analysis required by
CVM Resolution 475/2008, the Company evaluates its financial instruments considering the possible effects on profit and loss and
equity of the risks evaluated by the Company's Management on the reporting date for the financial instruments, as recommended
by IFRS 7 - Financial Instruments: Disclosure. Based on the equity position and the notional value of the financial instruments
held as of December 31, 2019, it is estimated that these effects will approximate the amounts stated in the above table in the
column for the forecast probable scenario, since the assumptions used by the Company are similar to those previously<FONT STYLE="letter-spacing: -0.5pt">&nbsp;</FONT>described.</P>

<P STYLE="text-align: justify; text-indent: -0.25in; margin: 6pt 0 6pt 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>b)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Foreign
exchange risk - euro</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">This risk arises from the possibility
of loss due to fluctuations in exchange rates affecting fair value of Non-Deliverable Forward (NDF) transactions, whose gains and
losses are recognized in the Company's statement of income.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Based on the notional amount of 22
million euros outstanding as of December 31, 2019, the fair value was estimated by the difference between the amounts contracted
under the respective terms and the forward currency quotations (B3 reference rates), discounted to present value at the fixed rate
as of the same date. The liability balance, recorded as of December 31, 2019, is shown in Note 28.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Sensitivity analysis of operations
with derivative financial instruments</B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company developed a sensitivity
analysis in order to measure the impact from exposure to fluctuation in exchange rate to Euro (&euro;).</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
sensitivity analyses were prepared in accordance with CVM Instruction 475/08, considering, for scenarios 1 and 2, 25% and 50% increase
or decrease in exchange rates, applied to the forward rate as of December 31, 2019. The results obtained are shown below:</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; line-height: 8pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Exchange rate variation</B></FONT></TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Baseline</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Projected scenarios</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 15%; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Scenario 1</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Scenario 2</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Gains (losses) on operations with derivative financial instruments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;Increase</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,203)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23,777</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48,757</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; Decrease</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,203)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26,183)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (51,163)</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: -0.25in; margin: 6pt 0 6pt 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>c)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Interest
rate and monetary variation risk</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">This risk comprises the possibility
of losses due to fluctuations in interest rates or other indicators, which may reduce financial income or financial expenses or
increase the financial expenses related to the assets and liabilities raised in the market.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company has developed a sensitivity
analysis in order to measure the impact of variable interest rates and monetary variations on its financial assets and liabilities
subject to these risks.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif"><B>Sensitivity analysis of interest
rate and monetary variation risk</B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The Company has developed a sensitivity
analysis in order to measure the impact of variable interest rates and monetary variations on its financial assets and liabilities
subject to these risks.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The baseline scenario takes into account
the existing balances in each account as of December 31, 2019 while the probable scenario assumes balances reflecting varying indicators
(CDI/Selic: 3.25%, IPCA: 2.52%, IGP-DI: 4.93%, IGP-M: 4.83% and TJLP: 5.20%) estimated as market average projections for 2020 according
to the Focus Report issued by the Central Bank of Brazil as&nbsp;<FONT STYLE="letter-spacing: 0.3pt">of April 9, 2020</FONT>, except
TJLP that considers the Company's internal<FONT STYLE="letter-spacing: -0.35pt">&nbsp;</FONT>projection.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">For the scenarios 1 and 2, deteriorations
of 25% and 50%, respectively, were considered for the main risk factor for the financial instrument compared to the rate used in
the probable scenario.</P>


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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 45%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal"><B>.</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Baseline</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Projected scenarios - Dec.2020</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Interest rate risk and monetary variation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Risk</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Probable&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Scenario 1</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Scenario 2</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Financial assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Bonds and securities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Low CDI/SELIC</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">282,081</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">9,168</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">6,876</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">4,584</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Collaterals and escrow accounts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Low CDI/SELIC</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 147</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 5</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 4</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 2</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">CRC Transferred to the Paran&aacute; State Government</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Low IGP-DI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,350,685</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 66,589</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 49,942</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 33,294</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Sectorial financial assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Low Selic</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">473,989</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 15,405</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 11,553</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">7,702</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts receivable - concessions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Low IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2,548,456</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 64,221</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 48,166</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 32,111</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts receivable - generation concessions</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Undefined (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">69,182</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-indent: 8pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>4,724,540</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 155,387</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 116,540</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; 77,693</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Financial liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; Banco do Brasil</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High CDI</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (679,976)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(22,099)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(27,624)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(33,149)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; BNDES</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (2,198,064)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(114,299)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(142,874)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(171,449)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; BNDES</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (8,288)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(209)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(261)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(313)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; Banco do Brasil - BNDES Transfer</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (95,807)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (4,982)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (6,227)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (7,473)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; Caixa Econ&ocirc;mica Federal</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(331)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(17)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(22)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(26)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; Other</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">No risk</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (77,261)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High CDI/SELIC</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (6,464,603)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(210,100)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(262,624)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(315,149)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High IPCA</FONT></TD>

    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,950,591)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(49,155)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(61,444)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(73,732)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High TJLP</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (125,172)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (6,509)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (8,136)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (9,763)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Sectorial financial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High Selic</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (102,284)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (3,324)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (4,155)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (4,986)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Ordinary financing of taxes with the federal tax authorities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High Selic</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (18,063)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(587)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(734)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(881)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Special Tax Regularization Program - Pert</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High Selic</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (497,207)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(16,159)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(20,199)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(24,239)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts payable related to concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High IGP-M</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (563,756)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(27,793)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(34,741)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(41,690)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Accounts payable related to concession</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">High IPCA</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (48,831)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,231)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,538)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,846)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: white; line-height: normal">.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp; (12,830,234)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(456,464)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(570,580)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>(684,697)</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="6"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(a) Risk assessment still requires ruling by the Granting Authority.</FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0 0 10pt">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">In addition to the sensitivity analysis
required by CVM Resolution 475/2008, the Company evaluates its financial instruments considering the possible effects on profit
and loss and equity of the risks evaluated by the Company's Management on the reporting date for the financial instruments, as
recommended by IFRS 7 Based on the equity position and the notional value of the financial instruments held as of December&nbsp;31,&nbsp;2019,
it is estimated that these effects will approximate the amounts stated in the above table in the column for the forecast probable
scenario, since the assumptions used by the Company are similar to those previously<FONT STYLE="letter-spacing: -0.5pt">&nbsp;</FONT>described.</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.4</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Electricity
shortage risk</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Approximately 64% of installed capacity
in Brazil currently comes from hydroelectric generation, as informed by the Generation Information Bank of ANEEL, which makes Brazil
and the geographic region in which we operate subject to unpredictable hydrological conditions, due to non-cyclical deviations
of mean precipitation. Unsatisfactory hydrological conditions may cause, among other things, the implementation of comprehensive
programs of electricity savings, such as rationalization or even a mandatory reduction of consumption, which is the case of rationing.</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Since
2014, the reservoirs of the Southeast/Midwest, North and Northeast Brazilian regions have been subject to adverse climate situations,
leading agencies responsible for this industry to adopt water resources optimization measures to guarantee fully meeting electricity<FONT STYLE="letter-spacing: -0.45pt">&nbsp;</FONT>demand.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Electric Sector Monitoring Committee (CMSE) has maintained the energy deficit risk indicators within the safety margin in short-term
projections. The same position is adopted by ONS regarding the risk of deficit in the medium term, as stated in the 2019-2023 Energy
Operation<FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT>Plan - PEN 2019.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Although
dam storage levels are not ideal, from the standpoint of regulatory agencies, when combined with other variables, such as a slower
consumption growth, they are sufficient to keep the risk of deficit within the safety margin established by the National Energy
Policy Council (Conselho Nacional de Pol&iacute;tica Energ&eacute;tica - CNPE) (maximum risk of 5%) in all subsystems.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.5</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Risk
of GSF impacts</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Energy Reallocation Mechanism (Mecanismo de Realoca&ccedil;&atilde;o de Energia - MRE) is a system of redistribution of electric&nbsp;<FONT STYLE="letter-spacing: 0.1pt">power&nbsp;</FONT>generated,
characteristic of the Brazilian electric sector, which has its existence by the understanding, at the time, that there is a need
for a centralized operation associated with a centrally calculated optimal price known as PLD. Since generators have no control
over their production, each plant receives a certain amount of virtual energy which can be compromised through contracts. This
value, which enables the registration of bilateral contracts, is known as Physical Guarantee (Garantia F&iacute;sica - GF) and
is also calculated centrally. Unlike PLD, which is calculated on a weekly basis, GF, as required by Law, is recalculated every
five years, with a limit of increase or decrease, restricted to 5% by revision or 10% in the concession<FONT STYLE="letter-spacing: -0.45pt">&nbsp;</FONT>period.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
contracts need to have an energy physical guarantee basis. This is done, especially, through the allocation of power generated
received from the MRE or purchase. The GSF is the ratio of the entire hydroelectric generation of the MRE participants to the GF
sum of all the MRE plants. Basically, the GSF is used to calculate how much each plant will receive from generation to back up
its GF. Thus, knowing the GSF of a given month the company will be able to know if it will need to back up its contracts through
purchases.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Whenever
GSF multiplied by GF is less than the sum of contracts, the company will need to buy the difference in the spot market. However,
whenever GSF multiplied by GF is greater than the total contracts, the company will receive the difference to the PLD.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
low inflows that have been recorded since 2014, as well as problems with delays in the expansion of the transmission system have
resulted in low GSF values, resulting in heavy losses for the companies holding MRE participating hydroelectric projects.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">For
plants with contracts in the Free Contracting Environment - ACL, the main way to manage the low GSF risk is not to compromise
the entire GF with contracts, approach currently adopted by the Company.</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">For
the contracts in the ACR, Law 13,203/2015 allowed the generators to contract insurance for electricity demand (load), by means
of payment of a risk premium. Copel adopted this approach to protect contracts related to energy generated by the Mau&aacute;,
Santa Clara, Fund&atilde;o, Baixo Igua&ccedil;u and Col&iacute;der Thermoelectric Plants and Cavernoso II Small HPP.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">For
the distribution segment, the effects of the GSF are perceived in the costs associated with quotas of Itaipu, of Angra and the
plants whose concessions were renewed in accordance with Law 12,783/2013, as well as in the costs of the contracts for power availability
with thermoelectric plants. This is a financial risk, since there is guarantee of neutrality of expenses with energy purchases
through a tariff transfer.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.6</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Risk
of non-renewal of concessions - generation and<FONT STYLE="letter-spacing: 0.25pt">&nbsp;</FONT>transmission</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Currently,
the extension of energy generation and transmission concessions, achieved by Law No. 9,074/1995, is regulated by Law No. 12,783/2013.
Concessions for hydroelectric power generation and electric power transmission may be extended, at the discretion of the granting
authority, only once, for a period of up to 30 years. Thermoelectric power generation concessions have an extension term limited
to 20 years.&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
concession operator should request extension of concession at least 60 months before the final contract date or after granting
of concessions to hydroelectric power generation and electric power transmission and distribution plants, and of up to 24 months
for thermoelectric plants. The Concession Grantor may advance effects of extension by up to 60 months counted as of contract or
grant date and may also define initial tariff or revenue</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">However,
in 2019, Decree No. 10,135/2019 was published, which regulated the granting of concession contracts in the electricity sector associated
with privatization through sale of control by holder of a public service concession for electricity generation, changing the exploration
regime to Independent Power Producer (IPP). According to the Decree, the manifestation of sale of the concession must take place
within up to 42 months from the date of the related formal agreement, and any sale must take place within up to 18 months from
the concession end date. If sale of control of the venture does not occur within the specified period, the plant must be subject
to auction by the granting authority and the same concessionaire can participate in the auction, if it meets the qualification
conditions.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Copel
has 2 plants whose concession ends in the next 5 years.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">For
HPP Governador Bento Munhoz da Rocha Netto (HPP GBM) (1,676 MW), whose concession will end in 2023, the Company has not expressed
any interest in extending the concession, as internal studies have shown that the extension through early change of the exploration
regime would be economically and financially disadvantageous in relation to exploration of the plant under the current regime
until concession end. On March 3, 2020, Copel GeT transferred the concession of HPP GBM to subsidiary F.D.A. Gera&ccedil;&atilde;o
de Energia El&eacute;trica S.A. with the purpose of divesting the control of this concessionaire and, thus, allow a new concession
grant for 30 years (Note 40.2).</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">With
respect to HPP S&atilde;o Jorge, whose concession ends in 2024, Copel did not express interest in the renewal and intends, at the
end of the concession, to request ANEEL to convert the granting of concession into granting of registration.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Regarding
the Figueira HPP concession, expired in March 2019, the Company awaits the conclusion of the related ANEEL procedural steps to
execute any amendment to the Concession Agreement. The plant is undergoing a modernization process and will have as direct benefits
the improvement in energy efficiency and the reduction of pollutant emissions in the atmosphere, in comparison with the old plant.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">According
to the law, the Company may express its intention to extend the concession of the Apucaraninha HPP in 2020, and the Guaricana and
Chamin&eacute; HPPs in 2021. If the Company does not express an interest in the extension of the current regime at its final term,
be granted to the Company in the condition of registration, and the other concessions, at their final term, must be returned to
the Concession Grantor.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Copel
GeT does not have any transmission concession ending in the next ten years.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.7</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Risk
on non-renewal of concessions &ndash; distributions of electricity</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
fifth amendment to Copel DIS's concession contract No. 46/1999 imposes economic and financial efficiency covenants and indicators
that consider the duration and frequency of service interruptions (DECi and FECi). Failure to comply with the conditions will result
in termination of the concession (clause eighteen, subclause one), with due regard for the provisions of the contract, particularly
the right to full defense and adversary system.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Indicators
and&nbsp;penalties</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: middle">
    <TD STYLE="width: 29%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><B>Year</B></FONT></TD>
    <TD STYLE="width: 25%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Indicator</B></FONT></TD>
    <TD STYLE="width: 23%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Criteria</B></FONT></TD>
    <TD STYLE="width: 23%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Penalties</B></FONT></TD></TR>

<TR STYLE="vertical-align: middle">
  <TD ROWSPAN="4" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Until 2020</FONT></TD>
  <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
  <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
  <TD STYLE="border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
</TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Economic - financial efficiency and&nbsp;quality</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;2 consecutive years or at the end of the 5-year period (2020)</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Extinction of the dividend</FONT></TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Quality Indicators</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;2 consecutive years or 3 times</FONT></TD>
    <TD STYLE="border-bottom: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Distribution limitation concession and interest on equity</FONT></TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Economic - financial efficiency</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;In 5 years in the base year</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Capital Increase (a)</FONT></TD></TR>
<TR STYLE="vertical-align: middle">

    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">From the 6th year of (2021)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Economic and financial efficiency</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;2 consecutive years</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Concession termination</FONT></TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Quality Indicators</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;3 consecutive years</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">(a) Within 180 days from the end of each fiscal year, in the totality of the insufficiency that occurs to reach the Minimum Economic and Financial Sustainability Parameter.</FONT></TD></TR>
</TABLE>
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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><B>Targets
defined for Copel Distribui&ccedil;&atilde;o in the first five years after extension of the concession agreement</B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Quality - limits<SUP>&nbsp;(a)</SUP></B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Quality (Performed)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Year</B></FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Economic and Financial Management</B></FONT></TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Realized</B></FONT></TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>DECi&nbsp;<SUP>(b)</SUP></B></FONT></TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>FECi&nbsp;<SUP>(b)</SUP></B></FONT></TD>
    <TD STYLE="width: 11%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>DECi</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>FECi</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2016</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 13.61</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 9.24</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">10.80</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 7.14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2017</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">EBITDA = 0&nbsp;<SUP>(c)</SUP></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 661,391</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 12.54</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 8.74</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">10.41</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 6.79</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2018</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">EBITDA (-) QRR = 0&nbsp;<SUP>(d)</SUP></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 550,675</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 11.23</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 8.24</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;10.29</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;6.20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2019</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">{Net Debt / [EBITDA (-) QRR]} &le; 1 / (0.8 * SELIC)&nbsp;<SUP>(e)</SUP></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 10.12</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 7.74</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;9,10<SUP>(f)</SUP></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;6,00<SUP>(f)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2020</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">{Net Debt / [EBITDA (-) QRR]} &le; 1 / (1.11 * SELIC)&nbsp;<SUP>(e)</SUP></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 9.83</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 7.24</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(a) According to Aneel&rsquo;s Technical Note No. 0335/2015.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(b) DECi - Equivalent Time of Interruption Caused by Internal Source per Consumer Unit; and FECi - Equivalent Frequency of Interruption Caused by Internal Source per Consumer Unit.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(c) Regulatory EBTIDA adjusted for non-recurring events (Voluntary retirement program, post-employment benefit, provisions and reversals) according to sub-clause six, of the Fifth Amendment to the Concession Agreement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(d) QRR: Regulatory Reintegration Quota or Regulatory Depreciation Expense. This is the value defined in the most recent Periodical Tariff Review (RTP), plus General Market Price Index (IGPM) variation between the month preceding the RTP and the month preceding the twelve-month period of the economic and financial sustainability measurement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(e) Selic: limited to 12.87% p.y.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(f) DECi / FECi in 2019: preliminary data</FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="margin: 0 0 10pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.8</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Risk
of non-extension of the gas distribution concession</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As presented in Note 2.1.1, the expiration
date of the gas distribution concession of the subsidiary Compag&aacute;s is under discussion with the concession grantor.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">In the event of non-extension of the
concession, Compag&aacute;s will be entitled to compensation for investments made in the last 10 years prior to the end of the
concession at their depreciated replacement value, according to the contractual<FONT STYLE="letter-spacing: -0.2pt">&nbsp;</FONT>clause.</P>

<P STYLE="text-indent: -44.8pt; margin: 6pt 0 6pt 44.8pt"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.9</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Risk
of overcontracting and undercontracting of electricity</U></FONT></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Under the current regulatory model,
the agreement for purchase of electric power by distributors is regulated by Law 10,484/2014 and Decree 5,163/2004, which determine
that the purchase of energy must be in the volume necessary to serve 100% of the distributor's market.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The difference between the costs remunerated
by the tariff and those actually incurred in the power purchases are fully passed on to captive consumers, as long as the distributor
presents a contracting level between 100% and 105% of its market. However, if distributors determine contracting levels lower or
higher than the regulatory limits, there is the assurance of neutrality if it is identified that such violation derives from extraordinary
and unforeseen events that are not manageable by the buyer.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Since 2016, the distribution segment
has been exposed to a general overcontracting scenario, as most companies determined contracting levels higher than 105%. Considering
that several factors that have contributed to this situation are extraordinary and unavoidable by the distributors, such as the
involuntary allocation of physical guarantee quotas and the broad migration of consumers to the free market, ANEEL and MME implemented
a series of measures aiming at the mitigation of overcontracting.</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
relation to the contracting of 2019, the scenarios of supply and demand indicate the occurrence of over contracting 105.8% by Copel
DIS. Nevertheless, considering that this situation arises mainly from the migration of consumers to the free market, it is considered
that the distributor maintains the guarantee of neutrality preserved, since this factor is subject to the recognition of involuntary
over contracting.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.10</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Gas
shortage risk</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
natural gas market in Paran&aacute; is composed of Compag&aacute;s' consumers (non-thermal market) and the Arauc&aacute;ria Thermoelectric
Plant (UEG Arauc&aacute;ria). This market is supplied by contracts with Petrobras that uses the transportation infrastructure of
the Brazil-Bolivia gas pipeline (Gasbol). Compag&aacute;s has a contract for the supply of natural gas from Bolivia until December
2021, and is making a public bidding for the supply of natural gas as from January 2022. UEG Arauc&aacute;ria, on the other hand,
negotiates short-term natural gas contracts for not having electricity generated contracted in the regulated environment.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
the current situation of the natural gas sector in Brazil, the New Gas Market program is coordinated by the Ministry of Mines and
Energy together with the Civil House of the Presidency of the Republic, the Ministry of Economy, the Administrative Council for
Economic Defense, the National Petroleum Agency and the Energy Research Company - EPE, whose purpose is to open the natural gas
market in order to make it dynamic, competitive, integrated with the electric and industrial sector, with an improved regulation.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Within
the scope of the New Gas Market, the offer of natural gas already demonstrates growth and diversification, having as alternatives
the import of gas from Bolivia, import of liquefied natural gas (LNG) that has a large world offer, use of natural gas from onshore
basins and greater use of natural gas from the pre-salt which has large volumes to be extracted.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
relation to the transportation network, the changes in regulation to allow access to new agents, the public call of TBG (Gasbol
transporter) that establishes a new capacity contracting regime in the gas pipeline and the Gas Pipeline Indicative Plan (PIG)
coordinated by EPE, give a vision of better structuring of the sector and adequate planning to meet current and future demands,
even though investments are needed for the latter.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">A
possible shortage in gas supply could result in losses to Copel due to a reduction in revenue from the natural gas distribution
service provided by Compag&aacute;s, as well as any penalty resulting from non-compliance with the obligations contained in the
concession contract. In addition, in this scenario, UEG Arauc&aacute;ria would probably be kept out of operation. However, this
risk is considered low in view of the situation of the New Gas Market.</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.11</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Risk
of non-performance of windfarms</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
power generation purchase and sale contracts for wind power are subject to performance clauses, which provide for a minimum annual
and four-year generation of the physical guarantee committed in the auction. Ventures are subject to climatic factors associated
with wind velocity uncertainties. Non-compliance with what is stated in the agreement may jeopardize future revenues of the Company.
At December 31, 2019, the consolidated balance of the provision recorded in liabilities referring to the non-performance is R$
65,790 (R$&nbsp;83,525, at December 31, 2018), which may be offset by higher future production, measured within the annual and/or
four-yearly contractual cycle.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.12</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>Risk
related to price of power purchase and sale transactions</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company operates in the electricity purchase and sale market with the objective of achieving results with variations in the price
of electricity, respecting the risk limits pre-established by Management. This activity, therefore, exposes the Company to the
risk of future electricity prices.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Future
electricity purchase and sale transactions are recognized at fair value through profit or loss, determined by the difference between
the contracted price and the future market price estimated by the Company.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
December 31, 2019, based on the notional amounts of R$ 4,448,602 (R$ 222,928 on 12.31.2018) for purchase contracts and R$ 4,089,801
(R$ 95,382 on 12.31.2018) for electricity sales contracts, the fair value was estimated using the prices defined internally by
the Company in the last week of December 2019, which represented the best estimate of the future market price. The discount rate
used is based on the NTN-B rate of return disclosed by Anbima, on January 2, 2020, adjusted for credit risk and additional project
risk.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
balances referring to these outstanding transactions as of December 31, 2019 are shown below. The variation in relation to the
net balance of R$ 3,786, on December 31, 2018, results from the increase in the level of contracting in the free energy market.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Assets</B></FONT></TD>
    <TD STYLE="width: 15%; border-width: 1pt; border-style: solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Liabilities</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Net</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Current</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">13,540</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(7,152)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 6,388</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Noncurrent</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 447,095</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (244,821)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 202,274</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 460,635</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; (251,973)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 208,662</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="text-align: justify; margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><B>Sensitivity analysis on the power purchase
and sale transactions</B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The main risk factor is the exposure
to variation of energy market prices. The variation of the discount rate does not have a relevant impact on the fair value determined.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The sensitivity analyses were prepared
in accordance with CVM Instruction 475/08. For the probable scenario, the balances were updated with the market price curve, the
credit risk rate and the NTN-B rate on April 7, 2020.For scenarios 1 and 2, the increase or decrease of 25% and 50% in future prices,
applied to market prices of December 31, 2019. The results obtained are as follows:</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 44%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Price</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Baseline</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Projected scenarios</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>variation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Probable</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Scenario 1</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Scenario 2</B></FONT></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Gains (losses) on purchase and sale of energy in active market</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;Increase</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 208,662</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 192,103</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 270,953</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 349,803</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; Decrease</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 208,662</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 192,103</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 113,253</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 34,402</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">35.2.13</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>&nbsp;Counterparty
risk in the energy market</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Since
free energy market still does not have a counterparty acting as guarantor of all agreements (clearing house), there is a bilateral
risk of default. Thus, the Company is exposed to the risk of failure in the supply of energy contracted by the seller. In the event
of such failure, the Company must buy energy at the spot market price, being further subject to regulatory penalties and loss of
amounts paid.</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company follows a policy that establishes limits for possible operations with each counterparty, after analyzing its credit worthiness,
maturity and history.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
addition, even if our policy is more restrictive, and the counterparties present good financial condition, the Company is exposed
to systemic events in which the default of one agent ends up affecting other energy trading companies in a "domino effect" until
reaching the Company's counterparties</FONT><FONT STYLE="font-family: helv,sans-serif">.</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>35.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Capital
management</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company seeks to keep a strong capital base to maintain the trust of investors, creditors and market and ensure the future development
of the business. Management also strives to maintain a balance between the highest possible returns with more adequate levels of
borrowings and the advantages and the assurance afforded by a healthy capital position. Thus, it maximizes the return for all stakeholders
in its operations, optimizing the balance of debts and equity.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company monitors capital by using an index represented by adjusted consolidated net debt divided by adjusted consolidated EBITDA
(Earnings before interest, taxes, depreciation and amortization), for the last twelve months. The corporate limit established
in the debt indentures provides for maintenance of ratio below 3.5 while any expectation of failing to meet this target will prompt
Management to take steps to correct its course by the end of each reporting period.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">As
of December 31, 2019, the ratio attained is shown below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>31.12.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>31.12.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 3,142,383</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 4,047,307</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 8,429,710</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 7,518,131</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (2,941,727)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (1,948,409)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Bonds and securities (current)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; (3,112)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (124,862)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Bonds and securities (noncurrent)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (121,617)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (112,604)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Collaterals and escrow accounts STN</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(98,433)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(89,555)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Adjusted net debt</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 8,407,204</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 9,290,008</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Net Income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 2,062,869</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,444,004</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Equity in earnings of investees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (106,757)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; (135,888)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Deferred IRPJ and CSLL</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 205,771</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(68,072)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Provision for IRPJ and CSLL</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 433,555</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 580,065</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Financial expenses (income), net</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 488,486</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 438,050</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,093,836</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 749,179</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Adjusted ebitda</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 4,177,760</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 3,007,338</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Adjusted net debt / Adjusted ebitda</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 2.01</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;&nbsp; 3.09</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); margin: 6pt 0 6pt 44.8pt; letter-spacing: normal; word-spacing: 0px; text-indent: -44.8pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font: 10pt/20px Helv,sans-serif">35.3.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Helv,sans-serif; font-size: 10pt; line-height: 20px"><U>The
equity to debt ratio is shown below:</U></FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Indebtedness</B></FONT></TD>
    <TD STYLE="width: 15%; border-width: 1pt; border-style: solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">3,168,710</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">4,047,307</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">8,540,366</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">7,518,131</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">2,941,727</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">1,948,409</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(-) Bonds and securities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">282,081</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">344,296</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Net debt</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>8,485,268</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>9,272,733</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Equity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 17,598,212</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 16,336,214</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Equity indebtedness</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>0.48</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>0.57</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>36</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Related
Party Transactions</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Assets</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Liabilities&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Revenue</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Cost / Expense</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>&nbsp;Related parties / Nature of operation</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 6%; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Controlling shareholder</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>State of Paran&aacute; -</B>&nbsp;dividends payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">190,664</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 112,196</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">CRC Transfer (Note 8)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,350,685</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,445,042</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 184,229</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 188,797</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 90,712</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><I>Luz Fraterna</I>&nbsp;Program (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 7,478</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 10,353</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><I>Tarifa Rural Noturna</I>&nbsp;Program (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 7,639</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><I>Morar Bem Paran&aacute;</I>&nbsp;Program</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,165</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Remuneration and employ social security charges assigned (b)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 33</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,248</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Telecommunication services (c)&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 16,312</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 15,788</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 43,079</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 41,375</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 40,396</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Meteorological System of Paran&aacute;&nbsp; - Simepar (d)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 185</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">181</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,171)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,559)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,752)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000"><B>Entities with significant influence</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>BNDES and BNDESPAR -&nbsp;</B>dividends payable (e)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">130,204</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">80,144</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Financing (Note 21)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,231,409</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,208,920</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(175,461)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(131,379)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(140,537)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Debentures - Compag&aacute;s (Note 22)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 11,783</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">17,651</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,194)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,625)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (5,242)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Debentures - wind farms (Note 22) (f)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">253,877</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 268,286</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (28,240)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (30,316)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (30,540)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>State of Paran&aacute; investee</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Sanepar (c) (g)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 294</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 311</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 273</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">4,710</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">4,200</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,699</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (5,852)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (5,227)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,783)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Use of water withdrawn from plants&rsquo; reservoirs</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 144</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">480</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Joint ventures</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Voltalia S&atilde;o Miguel do Gostoso - mutual</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 294</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,513</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,032</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,032</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Caiu&aacute; Transmissora de Energia&nbsp; (c) (h) (i) (j)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 256</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 329</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,512</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 285</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,792</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">4,250</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">3,792</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (14,233)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (14,869)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (13,700)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 4,443</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 3,316</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Integra&ccedil;&atilde;o Maranhense Transmissora (i) (j)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 161</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 58</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,938)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,797)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,468)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 4,306</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 6,033</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Matrinch&atilde; Transmissora de Energia (i) (j)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 829</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">316</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (10,137)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (9,514)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (6,636)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 31,793</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 21,470</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Guaraciaba Transmissora de Energia (i) (j)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 383</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">136</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (4,853)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (4,475)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (3,202)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 14,846</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 15,869</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Parana&iacute;ba Transmissora de Energia (i) (j)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 638</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">212</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (6,514)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (6,595)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (3,642)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 5,962</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 8,544</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Cantareira Transmissora de Energia (i)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 467</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 170</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (5,403)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,618)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 7,286</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,461</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Mata de Santa Genebra Transmiss&atilde;o (i) (k)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 2,035</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 5,126</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 10</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">16,449</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">6,600</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">1,950</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (340)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Associates</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Dona Francisca Energ&eacute;tica S.A. (l)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 40</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 1,436</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,436</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">145</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (16,905)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (16,903)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (17,031)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Foz do Chopim Energ&eacute;tica Ltda. (c) (m)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 209</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 193</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,538</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,668</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">2,063</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Dividends</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 18,071</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Acquisition of power plant projects</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 19,461</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Sercomtel S.A. Telecomunica&ccedil;&otilde;es (c) (n)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 4,436</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 2,226</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">8,354</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">8,051</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">8,153</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (21)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (4)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (4)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Key management staff</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Fees and social security charges (Note 32.2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>

    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (25,860)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (27,368)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (28,876)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Pension and healthcare plans (Note 23.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (1,560)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (1,725)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (1,690)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Other related parties</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Funda&ccedil;&atilde;o Copel&nbsp; (c)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 9</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 20</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">285</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 299</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 316</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Administrative property rental</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 14,662</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 312</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (2,520)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (15,396)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (16,347)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Pension and healthcare plans (Note 23.3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,194,936</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">968,763</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Lactec (c) (o)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 4</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,507</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,601</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">746</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">-</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (2,787)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; (4,026)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; (15,912)</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>a)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The&nbsp;<I>Luz
Fraterna</I>&nbsp;Program created under Law 491/2013 and 17,639/2013 establishes the payment of electricity consumption to benefit
low-income families, residing in the State of Paran&aacute;, whose properties - consumer units - are used exclusively for residential
purposes, whether in urban or rural areas, and fulfill the requirements established in articles 3 and 4 of this law.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)">In
March 2018, the amount of R$ 159,274 was settled. The principal interest, fine and monetary restatement, at December 31, 2019,
totaled R$ 158,849. For these charges on electricity bills for the period of September 2010 to June 2015, a lawsuit was filed against
the State of Paran&aacute; on November 5, 2018, relating to the payment of invoices pursuant to State Law 14,087/2003. We highlight
that despite the negotiations maintained by Management, seeking to settle this debt, uncertainties still exist regarding the realization
of this asset and therefore, in view of this condition, this asset was not recognized, therefore, in accordance with the current
accounting standards. For the tax treatment, as determined by the Federal Revenue of Brazil in the Normative Instruction 1,753/2017,
the Company has taxed this revenue.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black">Management
further emphasizes that it is making all necessary efforts and taking all necessary measures to preserve the Company's interests</FONT>.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="color: black">The&nbsp;<I>Tarifa
Rural Noturna</I>&nbsp;Program of the Paran&aacute; State Government, regulated by Decree No. 1,288 of April 30, 2019, provides
for the granting of special monthly discount on the electricity tariff and the charges resulting from this service, including on
the additional tariff flags, regarding night consumption by consumers addressed by this decree. This program provides for the payment
by the Paran&aacute; State Government to Copel Distribui&ccedil;&atilde;o of the amount corresponding to 60% of the electricity
consumption by the benefitted consumers, considered to be night-period consumption, as specified in Decree 1,288 of April 30, 2019</FONT>.</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>b)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Reimbursement
of wages and social charges for employees transferred to the Paran&aacute; State Government. Balances presented are net of expected
credit loss.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>c)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Revenue
of Copel TEL from telecommunications services and lease of equipment and<FONT STYLE="letter-spacing: -0.5pt">&nbsp;</FONT>infrastructure.
The balances presented are net of expected credit losses.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>d)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The
Meteorological System of Paran&aacute; - Simepar is a supplementary unit of the Independent Social Service Paran&aacute; Technology,
linked to the State Department of Science, Technology and Higher Education. Simepar has contracts with Copel for services of weather
forecast, meteorological reports, ampacity analysis, mapping and analyses of winds and atmospheric<FONT STYLE="letter-spacing: -0.45pt">&nbsp;</FONT>discharges.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>e)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">BNDES
is the parent company of BNDES Participa&ccedil;&otilde;es S.A.&nbsp;<FONT STYLE="color: black">-</FONT>&nbsp;BNDESPAR, which owns
Copel shares (Note 30.1). On December 22, 2018, the shareholder agreement between the State of Paran&aacute; and BNDESPAR, signed
on December 22,<FONT STYLE="letter-spacing: -0.05pt">&nbsp;</FONT>1998, was ended.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>f)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">BNDES
and BNDESPAR acquired all the debentures issued by the subsidiaries Nova Asa Branca I, Nova Asa Branca II, Nova Asa Branca III,
Nova Eurus IV and Ventos de Santo Uriel.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>g)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Basic
sanitation provided by<FONT STYLE="letter-spacing: -0.25pt">&nbsp;</FONT>Sanepar.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>h)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Operation
and maintenance services agreement provided by Copel GeT, maturing on May 9, 2021. Transmission System Connection Agreement - CCT
executed by Copel DIS, expiring by the end of the concession agreement of the distribution or transmission company, whichever takes
place first.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>i)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: 20px">Charges
for use of the transmission system due by Copel GeT, UEG Arauc&aacute;ria and wind farms</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">.</FONT></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>


<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>j)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Copel
DIS maintains a Contract for the Use of Transmission System (Cust) with ONS and power transmission concession operators whose subject
matter is the contracting of Transmission System Use Amount (Must). Contracting is permanent and is regulated by ANEEL Normative
Resolution 666/2015. Amounts are defined for four subsequent years, with annual<FONT STYLE="letter-spacing: -0.25pt">&nbsp;</FONT>reviews.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>k)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Agreements
entered by Copel GeT: for operation and maintenance services, maturing on February&nbsp;1, 2023, rendering of owner's engineering
services, advisory and consulting services, maturing on May 2020, and facility sharing, maturing on January 1, 2043.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>l)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Connection
to the transmission system contracts entered by Copel GeT, Costa Oeste and Marumbi, maturing on August 17, 2031 until July 21,
2048. Power purchase and sale agreement made by Copel GeT, maturing on March 31,<FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT>2025</FONT><FONT STYLE="font-family: helv,sans-serif; font-size: 10pt; line-height: 20px">.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>m)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Contracts
entered into by Copel GeT: for operation and maintenance, maturing on May 23, 2020, and connection to the transmission system,
maturing on January 1, 2043.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>n)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Light
pole sharing agreement, signed between Sercomtel S.A.&nbsp;<FONT STYLE="color: black">Telecomunica&ccedil;&otilde;es and Copel
DIS</FONT>.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 19.85pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: -19.85pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>o)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">The
Institute of Technology for Development (Lactec) is a Public Interest Civil Society Organization (OSCIP), in which Copel is an
associate. Lactec has service and R&amp;D contracts with Copel GeT, UEGA and Copel DIS, which are subject to prior or later control
and approval by<FONT STYLE="letter-spacing: -0.5pt">&nbsp;</FONT>ANEEL. Copel COM provides services and sells energy to the institute.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
relevant transactions with related parties are shown above. Transactions arising from operations in a regulated environment are
billed according to the criteria and definitions established by the regulatory agents and other transactions are recorded according
to the market prices practiced by the Company.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>36.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Guarantees
awarded to related parties</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Sureties
and guarantees granted by Copel to its subsidiaries for financing and debentures are informed in Notes 21 and 22.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Copel
provided financial guarantees, in the form of corporate guarantee letter, for power purchase agreements made by Copel GeT, in the
total amount of R$ 4,005 (R$ 3,246 at December 31, 2018) and made by Copel Energia, in the amount of R$ 21,846 (R$&nbsp;79,358
at December 31, 2018).</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Sureties
and guarantees granted by Copel and Copel GeT for financing, debentures and insurance contracts of joint ventures are shown below:</P>


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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 25%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Date</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Final</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Amount</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Balance</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Interest</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Amount</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Company</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Operation</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>issued</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>maturity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>approved</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>guarantees</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(1)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Caiu&aacute; Transmissora (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">12.23.2013</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">02.15.2029</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 84,600</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 57,542</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 5,956</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(2)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Guaraciaba Transmissora</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">09.28.2016</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">01.15.2031</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 440,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 374,894</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 183,698</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(3)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Guaraciaba Transmissora</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">07.15.2018</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">12.15.2030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 118,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 119,561</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">58,585</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(4)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Mata de Santa Genebra</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">11.30.2017</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">07.15.2033</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,018,500</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,098,965</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">50.1</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 550,581</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(5)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Mata de Santa Genebra</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">04.15.2019</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">11.15.2030</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 210,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 202,767</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">50.1</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp; 101,586</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(6)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Cantareira Transmissora de Energia (a)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">12.28.2016</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">09.15.2032</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 426,834</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 453,020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">28,175</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(7)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Cantareira Transmissora de Energia</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">01.09.2018</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">08.15.2032</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 100,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 103,374</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">50,653</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp; 979,234</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">(a) Guarantee awarded of fixed amount pursuant to the contractual provisions and formal requirements of the financial institution</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Financial institution (fund provider):&nbsp;</B>&nbsp;BNDES: (1) (2) (4) (6)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Allocation:&nbsp;</B>Investment program</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Guarantees:&nbsp;</B>provided by Copel GeT: (1); provided by Copel: (2) (3) (4) (5) (6) (7).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>Operation guarantee:&nbsp;</B>pledge of shares held by Copel Get in the ventures.</FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Performance bond</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Final</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Amount</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>% endorsement</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Amount</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Company</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>maturity</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Insured</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Copel GeT</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>endorsement</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Matrinch&atilde; Transmissora</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">09.30.2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 90,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;44,100</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Guaraciaba Transmissora</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">04.30.2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 47,000</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">49.0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;23,030</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Mata de Santa Genebra</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">05.31.2020</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;&nbsp; 78,300</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">50.1</FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">&nbsp;39,228</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal"><B>&nbsp;106,358</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>37</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Commitments</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Commitments related to long-term contracts
not yet incurred, and therefore not recognized in the financial statements, are as follows:</P>

<P></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Energy purchase and transportation contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 137,279,155</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 140,638,024</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Additions to property, plant and equipment</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Construction of transmission lines and substations</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 115,732</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 214,086</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Construction of HPP Col&iacute;der power plant</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 36,303</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Construction of HPP Baixo Igua&ccedil;u</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 202,668</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Construction of Cutia wind farm</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 40,392</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Construction of SHP Bela Vista</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 111,481</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">-&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #000000; line-height: normal">Telecommunications works</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 90,769</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 115,710</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Acquisition of assets for electricity distribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 428,441</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 528,109</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Gas purchase contracts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 859,211</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp;&nbsp; 1,339,848</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>38</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Insurance</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Details
by peril type and effective date of the main insurance policies can be seen below:</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD width="25%" STYLE="border-top: Black 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>End</B></FONT></TD>
    <TD width="25%" STYLE="border-top: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Insured</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>Policy</B></FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>of term</B></FONT></TD>
    <TD width="25%" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal"><B>amount</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operational risks - HPP Baixo Igua&ccedil;u</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">05.31.2020</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 2,233,183</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operational risks - HPP Col&iacute;der</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">11.01.2020</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 2,166,984</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operational risks - Cutia and Bento Miguel</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">03.29.2021</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 2,165,557</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Nominated Risks</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">08.24.2020</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 2,069,590</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operational risks - UEG Arauc&aacute;ria (a)</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">05.31.2021</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 684,130</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operational risks - Brisa Potiguar</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">06.27.2020</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 890,763</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operational risks - HPP Governador Jayme Canet Junior</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">11.23.2020</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 799,290</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Fire - owned and rented facilities</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">08.24.2020</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 662,791</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operational risks - S&atilde;o Bento</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">06.27.2020</FONT></TD>
    <TD width="25%" STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 569,835</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD width="50%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">Operational risks - Elejor</FONT></TD>
    <TD width="25%" STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">03.11.2021</FONT></TD>
    <TD width="25%" STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">&nbsp; 302,984</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; line-height: normal">(a)&nbsp; The values of the insured of operating risks - UEG Arauc&aacute;ria have been translated from USD into BRL, with the current&nbsp; rate R$4.0307 as of December 31, 2019.</FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="font: 10pt/20px Arial, Helvetica, Sans-Serif">In addition to the insurance policies listed above, the Company take out
other insurance policies with lower values, such as: Directors and Officers liability (D&amp;O), general civil liability, court
award payment guarantee, sundry perils, national and international transportation, life, aircraft and vehicles. The guarantee insurance
taken out by the subsidiaries, joint ventures and associates have Copel and/or Copel GeT as guarantor, within the limits of their
share of interest in each project.</P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 0.25in 0 6pt; color: #ed7d31"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>39</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Additional
information to the Statement of Cash Flows</FONT></B></P>

<P STYLE="text-indent: -34pt; margin: 6pt 0 6pt 34pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>39.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Transactions
not involving cash</FONT></B></P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">Among the transactions carried out
in the line item Contract assets, specified in Notes 11.1 and 11.2, the acquisitions totaled R$ 1,039,234 (R$ 813,450 on December
31, 2018 and R$ 778,386 on December 31, &nbsp;2017). Of this amount, R$ 48,068 (R$ 50,927 on December 31, 2018 and R$ 30,312 on
December 31, &nbsp;2017) represent the amount of purchases made in installments and not settled through the end of the reporting
period.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">According to information in Note 17.2,
Property, plant and equipment acquisitions totaled R$&nbsp;551,162 (R$ 1,455,318 on December 31, 2018 and R$ 1,318,336 on December
31, &nbsp;2017). Of this amount, R$ 52,446 (R$ 71,454 on December 31, 2018 and R$ 123,268 on December 31, &nbsp;2017) represent
the amount of purchases made in installments and not settled through the end of the reporting period.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">In December 2018, there was acquisition
in installments of the studies and projects denominated PCH Bela Vista and UHE Salto Grande, for the amount of R$ 19,461, with
the company Foz do Chopim Energ&eacute;tica Ltda., such liability being recorded in accounts payable to suppliers. In 2019, this
acquisition was settled through a matching of accounts with the dividend&rsquo;s receivable from that supplier, which is part of
the Company's consolidated investments as associate.</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">As described in note 27.1, the additions
and remeasurement adjustment occurred in right-of-use assets totaled R$ 13,237, which were recognized matched against lease liabilities.
&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; font: 10pt/20px Arial, Helvetica, Sans-Serif">The mentioned transactions did not
involve cash and, for this reason, are not being presented in the statement of cash flows.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; line-height: 15.33px"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>40</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Subsequent
events</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>40.1&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Performance
Prize</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
February 12, 2020, the Company approved the short-term incentive program, denominated Performance Premium - PPD, of a variable
nature, in order to align efforts at different organizational levels with the Company's strategic objectives. This program was
developed considering its technical consistency and considering the best market practices, with the support of FIA - Funda&ccedil;&atilde;o
Instituto de Administra&ccedil;&atilde;o, a consulting firm specializing in projects to modernize people management practices in
public and private companies. Thus, Copel improves its management by goals and improves its culture of meritocracy, ensuring efficient
execution of its strategic plan. Safeguarding the values of the Company, the implementation of this program reflects the commitment
assumed by Management with the improvement of operational efficiency of the Copel group and with the highest standards of Corporate
Governance, strengthening the cornerstones for continuity and sustainable growth of the business.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>40.2&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">HPP
Gov. Bento Munhoz da Rocha Neto</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
March 3, 2020, Copel GeT filed its registered manifestation with the Ministry of Mines and Energy - MME for inclusion, under the
terms of Federal Decree No. 9,271/2018, of its subsidiary SPE F.D.A. Gera&ccedil;&atilde;o de Energia El&eacute;trica. On the same
date, this Special Purpose Entity (SPE) signed with ANEEL the concession contract for exploration of HPP Gov. Bento Munhoz da Rocha
Neto (&ldquo;GBM&rdquo; or &ldquo;Foz do Areia&rdquo;), whereby formalizing plant ownership transfer. The purpose of the registered
manifestation is to enable a new concession grant for 30 years for HPP Foz do Areia, subject to a process of disposal of control
of the respective SPE, pursuant to the provisions of the aforementioned Federal Decree, within a period of up to 18 months before
the date of end of the current concession contract, namely September 17, 2023.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
transfer of plant`s assets from Copel GeT to F.D.A. Gera&ccedil;&atilde;o de Energia El&eacute;trica was carried out in the first
quarter of 2020.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>40.3&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">TPP
Arauc&aacute;ria &ndash; Gas Contract</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">A
natural gas supply contract was signed between Petr&oacute;leo Brasileiro S.A. - Petrobras and GPP Arauc&aacute;ria Ltda. - GPPA,
for the Arauc&aacute;ria Thermoelectric Plant, effective February 21, 2020 to December 31, 2020, with warranty by Copel, which
provides for supply of 2,150,000 cubic meters of natural gas per day, without mandatory gas taking. As a result, TPP Arauc&aacute;ria
will remain available to the National Interconnected System - SIN and may be commissioned at the discretion of the National System
Operator (ONS).</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>40.4&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Janda&iacute;ra
Wind Complex</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
March 30, 2020, Ministry of Mines and Energy - MME issued Ordinances 140, 141, 142 and 143, which authorized the companies Janda&iacute;ra
I Energias Renov&aacute;veis S.A., Janda&iacute;ra II Energias Renov&aacute;veis S.A., Janda&iacute;ra III Energias Renov&aacute;veis
S.A. and Janda&iacute;ra IV Energias Renov&aacute;veis S.A., respectively, to establish themselves as Independent Electric Energy
Producers, through the implementation and operation of the wind power plants Janda&iacute;ra I, Janda&iacute;ra II, Janda&iacute;ra
III and Janda&iacute;ra IV.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>40.5&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">Effect
of the coronavirus (COVID-19) on the financial statements</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">The
Company has constantly assessed the impacts and potential impacts of the Coronavirus (COVID-19) in the administrative and operations
and has taken measures to contain the spread of the disease at Company and minimize economic impacts. The expectation of a drop
in growth and a recession in some business segments, resulting from the suspension of certain businesses and activities caused
by the coronavirus outbreak, affect the performance of the Brazilian economy, with subsequent effects on Copel's operations, mainly
impacting the reduction in the demand for electricity, which may expose the energy levels already contracted in the free market
and also affect the regulatory limits of contracting in the regulated market. In addition, the Company may have effects resulting
from: (i) an increase in defaults, (ii) a reduction in short-term future prices, and (iii) delay in the construction schedule,
consequently resulting in a greater impact on the Company's financial results.&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

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<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
April 8, 2020, Provisional Measure No. 950 was issued by Federal Government, which provides for temporary emergency measures for
the electricity sector to deal with the state of public calamity, establishing an exemption in energy tariffs, funded by the electricity
sector charge Energy Development Account (CDE), for low-income consumers up to the consumption of 220 kWh per month, for a period
of three months, and providing resources through a credit operation destined to provide financial relief to electricity distributors.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">It
should be noted that the provisional measure does not reach the free market energy contracts. Copel may have an impact on collection
from the free market, due to the reduction in contracted volumes, or the postponement of the expiration of its customers' energy
bills. Eventual temporary and emergency measures by the Federal Government should not reach the free energy market, which should
seek bilateral negotiations or have the situation arbitrated by the Judiciary.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
relation to the captive market, Copel estimates that in the short term there will be a reduction in revenue and collection of receivables
from the supply of energy, as well as a possible increase in the default of large customers, served by high voltage, and also of
the class of commercial consumption, as a result of the extension of the social distancing policy. In the medium term, the effects
can be extended to other consumption classes, especially residential.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">A
possible increase in consumer defaults, coupled with the drop in tax collection and the stoppage of several commercial and industrial
activities resulting from social isolation measures may adversely affect the Company's financial and economic results. Eventually,
with the reduction in energy consumption, the Company may be in a position higher than the permitted regulatory limit for overcontracting
of electricity.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Copel
has followed the electricity demand projections issued by official bodies in the electricity sector, which already show signs of
retraction in 2020, strongly impacted by the decrease in consumption in the commercial and industrial segments. This decrease has
caused notifications by energy buyers, under the perspective and allegation of fortuitous circumstances and force majeure generated
by the Covid-19 pandemic, requiring a reduction in the amounts of energy contracts and / or installments of falling bills.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Forced
by the retraction of the electricity demand, the PLD and GSF projections for the remainder of 2020 already show a reduction in
relation to the projections prior to the establishment of the state of public calamity caused by the Covid-19 pandemic. Another
point of attention is the possible impacts on the implementation schedule of generation and transmission projects, or even on the
availability of existing assets resulting from local actions that prevent access to facilities or problems with suppliers in the
sector, also affected by the crisis .</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">In
order to monitor and mitigate the impacts and consequences in the main activities, the Company established a contingency commission
and has been constantly monitoring its contracts, the liquidity of the energy market and the short-term price, as well as the negotiations
with the Regulatory Agency of the Brazilian Electricity Sector for the implementation of guidelines that guarantee the maintenance
of economic and financial sustainability of the entire chain of generation, transmission, sale and distribution of electric energy.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">To
guarantee the fulfillment of financial commitments and preserve the working capital required for operations throughout the crisis
period, the Company considers the possibility of raising external resources and the cash relief obtained with possible structural
measures by the government and other sectorial institutions and, at the same time, works internally with actions to reduce expenses
and postpone investments.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">It
should be noted, however, that there has been no material impact on its business that could modify the measurement of its assets
and liabilities presented in the financial statements on December 31, 2019 and up to the date of this publication.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>40.6&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Solar
Paran&aacute; GD Participa&ccedil;&otilde;es S.A,</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
March 17, 2020, the Company's Board of Directors unanimously approved the acquisition of a 49% interest in six distributed generation
photovoltaic projects, which total an installed capacity of 5.36MW, called Complexo Bandeirantes. The company called Solar Paran&aacute;
GD Participa&ccedil;&otilde;es S.A. will be the holding company for these projects. Copel expects to invest around R$ 10,500, with
disbursement until September 2020.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 34pt; letter-spacing: normal; word-spacing: 0px; text-indent: -34pt; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>40.7&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Caiu&aacute;
Transmissora de Energia S.A,</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">On
April 22, 2020, the capital contribution in the total amount of R$ 18,169 in Caiu&aacute; Transmissora de Energia S.A, was approved
by the Extraordinary General Meeting, of which R$ 8,903 will be paid by Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o SA, corresponding
to its 49% of percentage of interest in Company. The amount of the contribution will be allocated to the payment of deferred taxes
resulting from the change in Caiu&aacute;'s tax regime, from Real Profit to Presumed Profit.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: #ed7d31; font: 14pt Times New Roman, Times, Serif; margin: 0.25in 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px"><B>41</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 13pt; line-height: 26px">Condensed
unconsolidated financial information of Companhia Paranaense de Energia - Copel</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">Since
the condensed unconsolidated financial information required by Rule 12-04 of Regulation S-X is not required under IFRS issued by
the International Accounting Standards Board - IASB, such information was not included in the original financial statements filed
with the Brazilian Securities and Exchange Commissions &ndash; CVM in March, 25, 2020. In order to attend the specific requirements
of the Securities and Exchange Commission (the &ldquo;SEC&rdquo;), Management has incorporated the condensed unconsolidated information
in these financial statements as part of the Form 20-F. The condensed unconsolidated financial information of Companhia Paranaense
de Energia - Copel, presented herein were prepared considering the same accounting policies as described in Note 3 and 4 to Company&rsquo;s
consolidated financial statements.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>(a)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px; background-color: white">Condensed
statements of financial position as of December 31, 2019 and 2018</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; font-family: Times New Roman; background-color: rgb(255, 255, 255); width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>ASSETS</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>CURRENT ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Cash and cash equivalents</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 25,304</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 315,003</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Bonds and securities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 90</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 123,560</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Collaterals and escrow accounts</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">129</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Dividends receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 760,719</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 519,100</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;CRC transferred to the Paran&aacute; State Government</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 219,236</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 190,876</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other current receivables</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">1,068</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">7,027</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Income tax and social contribution receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">5,876</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">6,130</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other current recoverable taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">321</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Prepaid expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 95</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 40</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Receivable from related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">6,039</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">8,134</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,018,427</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;&nbsp; 1,170,320</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>NONCURRENT ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Long Term Assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other temporary investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 27,734</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 19,511</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;CRC transferred to the Paran&aacute; State Government</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,131,449</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 1,254,166</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Judicial deposits&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 124,219</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 131,840</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other noncurrent receivables</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">7,444</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">7,444</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Income tax and social contribution receivable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 123,951</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 148,140</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Deferred income tax and social contribution</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 154,364</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 147,368</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other noncurrent recoverable taxes</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 87,597</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 86,110</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Receivable from related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 108,983</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 104,751</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,765,741</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;&nbsp; 1,899,330</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Investments</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;17,286,220</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;16,070,567</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Property, plant and equipment</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>1,143</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>996</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Intangible assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>1,321</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>1,593</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Right-of-use asset</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>271</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;&nbsp; -</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;19,054,696</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;17,972,486</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000"><B>&nbsp;TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;20,073,123</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;19,142,806</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>CURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Payroll, social charges and accruals</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">8,437</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">6,747</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Accounts payable to related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">696</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">755</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Accounts payable to suppliers&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">3,956</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">2,731</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Income tax and social contribution payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">1,811</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other taxes due</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">120</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">152</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 39,628</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 129,401</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Debentures&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 315,008</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 941,677</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Dividend payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 588,563</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 354,203</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Post-employment benefits&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">378</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 87</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Lease liability</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">158</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other accounts payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">116</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">135</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 958,871</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;&nbsp; 1,435,888</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>NONCURRENT LIABILITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Accounts payable to related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">145</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other taxes due</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">2,817</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">2,602</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 746,075</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 773,984</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Debentures&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 797,713</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 596,403</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Post-employment benefits&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">8,658</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">4,867</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Lease liability</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">125</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other accounts payable</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">1,434</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">3,957</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Provisions for legal claims</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 304,871</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 292,180</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 1,861,838</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;&nbsp; 1,673,993</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>EQUITY</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Attributable to controlling shareholders</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Capital</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;10,800,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 7,910,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Equity valuation adjustments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 591,927</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 785,610</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Legal reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,014,248</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 914,751</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Profit retention reserve</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 4,846,239</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 6,422,564</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;17,252,414</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;16,032,925</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;TOTAL LIABILITIES &amp; EQUITY</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;20,073,123</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;19,142,806</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>(b)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px; background-color: white">Condensed
statements of operations for the years ended December 31, 2019, 2018 e 2017</FONT></B></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Operational expenses / income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;General and administrative expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (59,907)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (67,292)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (59,601)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Other operational income (expenses)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,244</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 11,696</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (68,788)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Equity in earnings of investees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 2,089,308</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;1,356,375</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;1,291,434</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 2,030,645</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,300,779</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,163,045</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>PROFIT BEFORE FINANCIAL RESULTS AND TAXES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 2,030,645</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,300,779</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,163,045</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Financial results</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Financial income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 209,679</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">301,729</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">181,312</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Financial expenses</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (235,033)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (238,355)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (327,855)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; (25,354)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 63,374</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (146,543)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>OPERATING PROFIT</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 2,005,291</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,364,153</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,016,502</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>INCOME TAX AND SOCIAL CONTRIBUTION</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Current</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (21,195)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(2,083)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; (36,803)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Deferred</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 5,850</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 44,993</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 53,927</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; (15,345)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 42,910</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; 17,124</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>NET INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 1,989,946</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,407,063</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;1,033,626</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>BASIC AND DILUTED NET EARNING PER SHARE ATTRIBUTED TO</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 1.5pt; padding-right: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 1.5pt; padding-right: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 1.5pt; padding-right: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000"><B>&nbsp;CONTROLLING SHAREHOLDERS - Expressed in Brazilian Reais</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Common shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 6.94344</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">4.91091</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">3.60754</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Class "A" Preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 9.11525</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">5.40201</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">3.96830</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Class "B" Preferred shares</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 2px solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 7.63812</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 2px solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">5.40201</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">3.96830</FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>(c)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px; background-color: white">Condensed
statement of comprehensive income for the years ended December 31, 2019, 2018 e 2017</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>NET INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 1,989,946</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp; 1,407,063</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp; 1,033,626</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Other comprehensive income</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000"><B>Items that will never be reclassified to profit or loss</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 15pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000">Gain (losses) on actuarial liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 20pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">Post employment benefits</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(3,371)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; (408)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 20pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">Post employment benefits - equity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; (120,358)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; (38,245)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; (29,567)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000">Taxes on other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 1,146</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 139</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; (7)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>Items that may be reclassified to profit or loss</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 20pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000">Adjustments related to financial assets&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">11,661</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 20pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000">Adjustments related to financial assets - equity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 9,554</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 20pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000">Taxes on other comprehensive income</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; (3,965)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 20pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000">Realization - gain on financial assets, net of tax</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; (9,355)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 20pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000">Realization - gain on financial assets - equity</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; (9,554)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 14pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000">Subsidiary loss with interest variation</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">(4,874)</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; padding-right: 1.5pt; padding-left: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000"><B>Total comprehensive income, net of taxes</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp;&nbsp; (127,457)</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp; (38,514)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp; (31,215)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>TOTAL COMPREHENSIVE INCOME</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 1,862,489</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp; 1,368,549</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp; 1,002,411</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 2px solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 2px solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 2px solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: rgb(255, 255, 255)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>(d)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px; background-color: white">Condensed
statements of cash flows for the years ended December 31, 2019, 2018 and 2017</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="background-color: white">
    <TD STYLE="width: 55%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; line-height: normal"><B>12.31.2018</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; line-height: normal"><B>12.31.2017</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;CASH FLOWS FROM INVESTMENT ACTIVITIES&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;&nbsp;688,443</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; 653,230</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; 440,406</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;CASH FLOWS FROM INVESTMENT ACTIVITIES&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Financial investments&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 115,376</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(124,254)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 24</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Loans and financing granted to related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(24,410)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(192,445)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(251,856)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Receipt of loans and financing granted to related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;24,512</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 560,877</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 124,122</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Disposal of investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 397,572</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Additions in investments</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(271,968)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(608,934)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(574,347)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Capital reduction of investees</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; -&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 45,000</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 170,000</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Additions to property, plant and equipment&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(285)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(267)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(282)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Additions to intangible assets</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(271)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(3)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(499)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;NET CASH USED IN INVESTING ACTIVITIES</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>(157,046)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>(320,026)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>(135,266)</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;CASH FLOWS FROM FINANCING ACTIVITIES&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Loans and financing obtained from third parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 77,000</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Issue of Debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 500,000</FONT></TD>
    <TD STYLE="text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 600,000</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 520,000</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Issue of loans with related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;48,000</FONT></TD>
    <TD STYLE="text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Amortization of principal - loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(115,500)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(77,000)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(83,000)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Amortization of principal - debentures</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(853,400)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(333,300)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(333,300)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Amortization of loans obtained from related parties</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(48,000)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Amortization of principal - Lease liabilities</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(141)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Dividends and interest on own capital paid&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(352,055)</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(264,734)</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">(475,103)</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;NET CASH USED IN FINANCING ACTIVITIES&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>(821,096)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>(75,034)</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>(294,403)</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;TOTAL EFFECTS ON CASH AND CASH EQUIVALENTS&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>(289,699)</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; 258,170</B></FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; 10,737</B></FONT></TD></TR>
<TR>
    <TD STYLE="background-color: white">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right; background-color: white">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Cash and cash equivalents at the beginning of the period</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;315,003</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 56,833</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 46,096</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Cash and cash equivalents at the end of the period</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;25,304</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 315,003</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 56,833</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; border-left: rgb(255, 192, 0) 1pt solid">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;CHANGE IN CASH AND CASH EQUIVALENTS</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>(289,699)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; 258,170</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; 10,737</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 10pt; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; background-color: white; font: 10pt/20px Arial, Helvetica, Sans-Serif">During the
years ended December 31, 2019, 2018 and 2017, we received R$ 777,651 (of which R$ 650.830 by consolidated subsidiaries and R$ 126,821
of unconsolidated investees<FONT STYLE="background-color: white">)</FONT>, R$ 609,219<FONT STYLE="background-color: white">&nbsp;(of
which R$&nbsp;588,540 by consolidated subsidiaries and R$ 20,679 of unconsolidated investees), R$ 669,179 (of which R$ 639,796
by consolidated subsidiaries and R$ 29,463 of unconsolidated investees)</FONT>, respectively, from dividends and interest on own
capital paid by our investees.</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: normal; word-spacing: 0px; text-align: center; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: white"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: 20px; background-color: white"><B>Related
Parties</B>: The Company has the following balances outstanding with related parties:</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>Assets</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">Copel Distribui&ccedil;&atilde;o</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 108,983</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">104,751</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">Investees and Subsidiaries - Structure sharing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 6,039</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">8,134</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 115,022</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>112,885</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>Liabilities</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">Investees and Subsidiaries - Structure sharing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 696</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">755</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">Elejor advance</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp; 145</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; -</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>&nbsp; 841</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>755</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 6pt 0; background-color: white"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px"><B>Investments</B>&nbsp;-
As of December 31, 2019 and 2018, investments in subsidiaries are comprised as follows:</FONT></P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 6pt 0; background-color: white"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: black 1pt solid; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp; Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp; 9,749,705</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp; 8,911,964</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp; Copel Distribui&ccedil;&atilde;o&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp; 6,012,246</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp; 5,908,755</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp; Copel Telecomunica&ccedil;&otilde;es&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 710,128</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638,873</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp; Copel Energia&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243,123</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83,468</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp; Compagas&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284,747</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221,654</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp; UEG Arauc&aacute;ria&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64,094</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74,132</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp; Other investments&nbsp;</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71,431</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79,542</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;17,135,474</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;15,918,388</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 6pt 0; background-color: white; font: 10pt/20px Arial, Helvetica, Sans-Serif">The information
regarding joint ventures, associates and other investments are presented in note 16.1 &ndash; Changes in investments.</P>

<P STYLE="text-align: justify; text-indent: 0in; margin: 6pt 0; background-color: white"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px; background-color: white"><B>Dividends
receivable</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 20px">&nbsp;<FONT STYLE="background-color: white">-
The dividends receivable is comprised as follows:</FONT></FONT></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp;Investees and subsidiaries</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 464,450</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">368,950</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Copel Distribui&ccedil;&atilde;o</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 266,050</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 89,486</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Copel Telecomunica&ccedil;&otilde;es</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 29,260</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Copel Comercializa&ccedil;&atilde;o</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 88</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Compagas</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">22,531</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 9,996</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Elejor</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 13,358</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;UEG Arauc&aacute;ria</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 6,143</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 6,143</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp;Joint Ventures&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Volt&aacute;lia</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 1,032</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 1,032</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp;Other investments</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 425</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 875</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp; 760,719</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>519,100</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: white">&#160;</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0in; background-color: white"><FONT STYLE="font-family: Symbol; font-size: 10pt; line-height: 20px">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; line-height: 14px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: 20px; background-color: white"><B>Reserve
for risks</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: 20px">&nbsp;<FONT STYLE="background-color: white">-
Companhia Paranaense de Energia - Copel recorded reserves for risks mainly related to Cofins and PIS/PASEP. The provisions for
risks are shown below:</FONT></FONT>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Regulatory</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">17,357</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 16,176</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Labor</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;&nbsp; 1,957</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 588</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Civil</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 150,529</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">142,773</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp;Tax Claim</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">&nbsp; 135,028</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal">132,643</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>&nbsp; 304,871</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black; line-height: normal"><B>292,180</B></FONT></TD></TR>
</TABLE>
<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; margin: 0 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)">&nbsp;</P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: rgb(255, 255, 255)"><FONT STYLE="font-weight: normal; color: windowtext">Restriction
of transfer of funds from subsidiaries - The subsidiaries described below qualify as either concessionaires of public services
or independent power producers. As such, any transfer of funds to the respective parent company, in the form of loans or advances,
requires approval by ANEEL. This regulatory restriction does not apply to cash dividends determined in accordance with the Brazilian
Corporate Law</FONT><FONT STYLE="font-weight: normal; color: black">.</FONT></P>

<P STYLE="color: rgb(0, 0, 0); font: 10pt/20px Arial, Helvetica, Sans-Serif; margin: 6pt 0; letter-spacing: normal; word-spacing: 0px; text-align: justify; text-indent: 0px; background-color: white">As
of December 31, 2019 and 2018, total restricted subsidiaries net assets&nbsp;are&nbsp;composed as follows:</P>

<P STYLE="color: rgb(0, 0, 0); font: 14pt Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-right: rgb(255, 204, 0) 1pt solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2019</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: rgb(0, 0, 0) 2px solid; border-bottom: rgb(0, 0, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal"><B>12.31.2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;Copel Gera&ccedil;&atilde;o e Transmiss&atilde;o S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #000000; line-height: normal">&nbsp;&nbsp; 9,749,705</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 8,911,964</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Copel Distribui&ccedil;&atilde;o S.A.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 6,012,244</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp; 5,908,755</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;UEG Arauc&aacute;ria Ltda.</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 315,740</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370,662</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Centrais El&eacute;tricas Rio Jord&atilde;o - Elejor</FONT></TD>
    <TD STYLE="border-right: rgb(255, 204, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42,859</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53,977</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;16,120,548</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-left: rgb(255, 204, 0) 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;15,245,358</B></FONT></TD></TR>
</TABLE>
<P>&nbsp;</P>

<P STYLE="margin: 0 0 10pt; font: 10pt/20px Arial, Helvetica, Sans-Serif"><FONT STYLE="background-color: white">The following
table shows the expected undiscounted settlement values of the liabilities, in each time range:</FONT></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; color: rgb(0, 0, 0); letter-spacing: normal; word-spacing: 0px; text-indent: 0px; background-color: rgb(255, 255, 255)"></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>COMPANHIA PARANAENSE
DE ENERGIA &ndash; COPEL and Subsidiaries</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>Notes to the
Consolidated Financial Statements, continued</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font: 10pt/15.33px Arial, Helvetica, Sans-Serif"><B>For the years
ended December 31, 2019, 2018 and 2017</B></P>

<P STYLE="text-align: left; margin: 0; background-color: white; font-size: 10pt; line-height: 15.33px"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>All
amounts expressed in thousands of Brazilian reais, unless otherwise stated</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: left; margin: 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="width: 100%; margin-left: 0pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 38%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 8%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 7%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 10%; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Interest (a)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Less than 1 month</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>1 to 3 months</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>3 months to a year</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>1 to 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Over 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; border-left: rgb(255, 192, 0) 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>Total</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;12.31.2019&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Loans and financing</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Note 21</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;47,209</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 27,273</FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 800,135</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 874,617</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Debentures</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Note 22</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">318,774</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 28,433</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 840,228</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;1,187,435</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Suppliers</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">3,956</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; -</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 3,956</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Lease liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp;Note 27</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 15</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 29</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">&nbsp; 131</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">142</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal">317</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>322,745</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;47,238</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp; 55,837</B></FONT></TD>
    <TD STYLE="border-right: rgb(255, 192, 0) 1pt solid; white-space: nowrap; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;1,640,505</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right; border-left: rgb(255, 192, 0) 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: normal"><B>&nbsp;2,066,325</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; line-height: normal">(a) Effective interest rate - weighted average.</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
</TABLE>
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<TYPE>EX-12.1
<SEQUENCE>2
<FILENAME>ex12_1.htm
<DESCRIPTION>EX-12.1
<TEXT>
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<HEAD>
     <TITLE></TITLE>
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<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 11pt 0 0; text-align: right"><B>Exhibit 12.1</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION PURSUANT TO RULES 13a-14(a)
AND 15d-14(a) AS ADOPTED</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER SECTION 302 OF THE SARBANES-OXLEY
ACT</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">I, Daniel Pimentel Slaviero, certify that:</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 20-F/A of Companhia Paranaense de Energia &ndash; COPEL
(the &ldquo;<U>Company</U>&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this
report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as
of, and for, the periods presented in this report;</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">4.</TD><TD STYLE="text-align: justify">The Company&rsquo;s other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in the Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(b)</TD><TD STYLE="text-align: justify">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(c)</TD><TD STYLE="text-align: justify">Evaluated the effectiveness of the company&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(d)</TD><TD STYLE="text-align: justify">Disclosed in this report any change in the Company&rsquo;s internal control over financial reporting
that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially
affect, the Company&rsquo;s internal control over financial reporting; and</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">5.</TD><TD STYLE="text-align: justify">The Company&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation
of internal control over financial reporting, to the Company&rsquo;s auditors and the audit committee of the Company&rsquo;s board
of directors (or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(a)</TD><TD STYLE="text-align: justify">All significant deficiencies and material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely affect the company&rsquo;s ability to record, process, summarize
and report financial information; and</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(b)</TD><TD STYLE="text-align: justify">Any fraud, whether or not material, that involves management or other employees who have a significant
role in the Company&rsquo;s internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: November 19, 2020</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><U>By: /s/ Daniel Pimentel Slaviero </U></P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">Name: Daniel Pimentel Slaviero</P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">Title: Chief Executive Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>3
<FILENAME>ex12_2.htm
<DESCRIPTION>EX-12.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 12.2</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION PURSUANT TO RULES 13a-14(a)
AND 15d-14(a) AS ADOPTED</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER SECTION 302 OF THE SARBANES-OXLEY
ACT</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">I, Adriano Rudek de Moura, certify that:</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">1.</TD><TD STYLE="text-align: justify">I have reviewed this annual report on Form 20-F/A of Companhia Paranaense de Energia &ndash; COPEL
(the &ldquo;<U>Company</U>&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this
report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as
of, and for, the periods presented in this report;</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">4.</TD><TD STYLE="text-align: justify">The Company&rsquo;s other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in the Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(a)</TD><TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(b)</TD><TD STYLE="text-align: justify">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(c)</TD><TD STYLE="text-align: justify">Evaluated the effectiveness of the company&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(d)</TD><TD STYLE="text-align: justify">Disclosed in this report any change in the Company&rsquo;s internal control over financial reporting
that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially
affect, the Company&rsquo;s internal control over financial reporting; and</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">5.</TD><TD STYLE="text-align: justify">The Company&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation
of internal control over financial reporting, to the Company&rsquo;s auditors and the audit committee of the Company&rsquo;s board
of directors (or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(a)</TD><TD STYLE="text-align: justify">All significant deficiencies and material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely affect the company&rsquo;s ability to record, process, summarize
and report financial information; and</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 28.35pt">(b)</TD><TD STYLE="text-align: justify">Any fraud, whether or not material, that involves management or other employees who have a significant
role in the Company&rsquo;s internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: November 19, 2020</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><U>By: /s/ Adriano Rudek de Moura &#9;</U></P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">Name: Adriano Rudek de Moura</P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">Title: Chief Financial and Investor Relations Officer</P></TD></TR>
</TABLE>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>4
<FILENAME>ex13_1.htm
<DESCRIPTION>EX-13.1
<TEXT>
<HTML>
<HEAD>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 13.1</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION PURSUANT TO SECTION 906 OF
THE SARBANES-OXLEY ACT OF 2002<BR>
(SUBSECTIONS (a) AND (b) OF SECTION 1350, CHAPTER 63 OF TITLE 18, UNITED STATES CODE)</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002 (subsections (a) and (b) of Section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Companhia
Paranaense de Energia - COPEL (the &ldquo;<U>Company</U>&rdquo;), does hereby certify, to such officer&rsquo;s knowledge, that:</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Annual Report on Form 20-F/A for the year
ended December 31, 2019 (the &ldquo;<U>Form 20-F/A</U>&rdquo;) of the Company fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 20-F/A fairly presents, in all material respects,
the financial condition and results of operations of the Company.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: November 19, 2020</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><U>By: /s/ Daniel Pimentel Slaviero&#9;</U></P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">Name: Daniel Pimentel Slaviero</P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">Title: Chief Executive Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>5
<FILENAME>ex13_2.htm
<DESCRIPTION>EX-13.2
<TEXT>
<HTML>
<HEAD>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 13.2</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION PURSUANT TO SECTION 906 OF
THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(SUBSECTIONS (a) AND (b) OF SECTION 1350,
CHAPTER 63 OF TITLE 18, UNITED STATES CODE)</B></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002 (subsections (a) and (b) of Section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Companhia
Paranaense de Energia - COPEL (the &ldquo;<U>Company</U>&rdquo;), does hereby certify, to such officer&rsquo;s knowledge, that:</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Annual Report on Form 20-F/A for the year
ended December 31, 2019 (the &ldquo;<U>Form 20-F/A</U>&rdquo;) of the Company fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 20-F/A fairly presents, in all material respects,
the financial condition and results of operations of the Company.</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: November 19, 2020</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 40%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0"><U>By: /s/ Adriano Rudek de Moura &#9; </U></P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">Name: Adriano Rudek de Moura</P>
        <P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">Title: Chief Financial and Investor Relations Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
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