6-K 1 d807446d6k.htm 6-K

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of September, 2019

Commission File Number: 1-15224

Energy Company of Minas Gerais

(Translation of Registrant’s Name Into English)

Avenida Barbacena, 1200

30190-131 Belo Horizonte, Minas Gerais, Brazil

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐ No ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

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Index

Item |  | Description of Items
1. |  | Summary of Minutes of the 770th Meeting of the Board of Directors Dated July 11, 2019
2. |  | Summary of Principal Decisions of the 772nd Meeting of the Board of Directors Dated August 8, 2019
3. |  | Summary of Principal Decisions of the 773rd Meeting of the Board of Directors Dated August 8, 2019
4. |  | Market Notice Dated August 12, 2019: CEMIG adopts new operating structure and adds R$1.2 billion to investment in distribution
5. |  | Material Announcement Dated August 14, 2019: EGM call on acquisition of Brasnorte
6. |  | Material Announcement Dated August 20, 2019: TAESA – SPA subscription for operational asset acquisition
7. |  | Earnings Release 2Q19: CEMIG’s 2Q19 EBITDA is R$1.8 billion
8. |  | Presentation of 2Q19 Results
9. |  | Material Announcement Dated August 30, 2019: Taesa concludes acquisition of participation in Brasnorte
10. |  | Market Notice Dated August 30, 2019: CEMIG responds to requests for information from investors
11. |  | Market Notice Dated September 6, 2019: Acquisition of Material Stake by Itaú
12. |  | Market Notice Dated September 13, 2019: CEMIG buys 196.98 MW of solar and wind supply

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Forward-Looking Statements

This report contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Actual results could differ materially from those predicted in such forward-looking statements. Factors which may cause actual results to differ materially from those discussed herein include those risk factors set forth in our most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. CEMIG undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG
By: |  | /s/ Maurício Fernandes Leonardo Jr.
|  | Name: Maurício Fernandes Leonardo Júnior Title: Chief Finance and Investor Relations Officer

Date: September 19, 2019

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1. SUMMARY OF MINUTES OF THE 770TH MEETING OF THE BOARD OF DIRECTORS DATED JULY 11, 2019

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

BOARD OF DIRECTORS

SUMMARY OF MINUTES

OF THE

770TH MEETING

I | Date, time and place: Thursday, July 11, 2019, at 6 p.m., at Avenida Barbacena 1200, Santo Agostinho, Belo Horizonte, Minas Gerais, Brazil.

II | Attendance: Board members:

Márcio Luiz Simões Utsch, |  | Antônio Rodrigues dos Santos e Junqueira, |  | Cledorvino Belini,
José João Abdalla Filho, |  | Renata Bezerra Cavalcanti, |  | José Reinaldo Magalhães,
|  | Marcelo Gasparino da Silva, and |  | Romeu Donizete Rufino.

With the exception of the board member Antônio Rodrigues dos Santos e Junqueira, all those present stated they had no conflict of interest in the matter on the agenda of this meeting.

III | Meeting committee: In accordance with the by-laws, the Chair of the Board, Márcio Luiz Simões Utsch, invited Virginia Kirchmeyer Vieira to be secretary of the meeting.

The meeting took place both with members present and with participation by Internet connection.

IV | Decision: Public offer of shares in Light:

Having approved holding of the secondary offering at it 766th meeting, of July 1, 2019, and in accordance with Decision Proposal (PD) 166/2019, the Board approved – by majority of votes, with one abstention, of the Board member Antônio Rodrigues dos Santos e Junqueira, the sale of:

33,333,333 (thirty three million three hundred thirty three thousand thirty three) nominal, book-entry common shares in Light S.A. without par value, owned by the Company, of which 22,222,222 (twenty two million two hundred twenty two thousand, two hundred twenty two) were additional shares, corresponding to 20% (twenty per cent) of the initial quantity of shares offered, for R$ 18.75 (eighteen Reais and seventy five centavos) per share.

The Board also approved payment by the Company to the financial institutions managing the offering of an additional incentive fee of 0.5% (zero point five per cent) on the proceeds of the offering, in proportion to the shares placed in the offering.

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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V | Closing: There being no further business, the meeting was closed and these minutes were written, and signed by the Chair, and the Board members, and by me, Virginia Kirchmeyer Vieira.

(Signatures):

Márcio Luiz Simões Utsch, |  | Antônio Rodrigues dos Santos e Junqueira, |  | Cledorvino Belini,
José João Abdalla Filho, |  | Renata Bezerra Cavalcanti and |  | José Reinaldo Magalhães,
Marcelo Gasparino da Silva, |  | Márcio José Peres, |  | Romeu Donizete Rufino,
|  | Virginia Kirchmeyer Vieira, |  |

This is a true copy of the original.

Virginia Kirchmeyer Vieira

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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2. SUMMARY OF PRINCIPAL DECISIONS OF THE 772ND MEETING OF THE BOARD OF DIRECTORS DATED AUGUST 8, 2019

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

BOARD OF DIRECTORS

First Meeting of August 8, 2019

SUMMARY OF PRINCIPAL DECISIONS

At its 772nd meeting, held on August 8, 2019, the Board of Directors of Cemig (Companhia Energética de Minas Gerais) decided the following:

• |  | Election of Mr. Luciano de Araújo Ferraz to the post of Chief Counsel and Chief Officer for Regulation.

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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3. SUMMARY OF PRINCIPAL DECISIONS OF THE 773RD MEETING OF THE BOARD OF DIRECTORS DATED AUGUST 8, 2019

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

BOARD OF DIRECTORS

Second meeting of August 8, 2019

SUMMARY OF PRINCIPAL DECISIONS

At its 773rd meeting, held on August 8, 2019, the Board of Directors of Cemig (Companhia Energ é tica de Minas Gerais) decided the following:

| 1. | Gasmig: Signature of Amendment to the Concession Contract.

| 2. | Revision of Cost of Capital to be used in evaluation of investment projects.

| 3. | Recovery of credits of Pasep and Cofins taxes as a result of final court decision.

| 4. | Renova: grant of surety guarantee.

| 5. | Formal name for position: Internal Auditor.

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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4. MARKET NOTICE DATED AUGUST 12, 2019: CEMIG ADOPTS NEW OPERATING STRUCTURE AND ADDS R$1.2 BILLION TO INVESTMENT IN DISTRIBUTION

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

MARKET NOTICE

Cemig (Companhia Energética de Minas Gerais – listed and traded in São Paulo, New York and Madrid), informs the CVM (Brazilian Securities Commission), the São Paulo stock exchange (B3) and the market:

1) Cemig adopts new operating structure;

2) – and adds R$ 1.2 bn to investment in Distribution.

1) | Operational restructuring

On August 9, Cemig adopted the most important restructuring in its history. Changes include:

| • |  | elimination of several hierarchy levels in the management structure; and

| • |  | 25% reduction in the number of General Manager and line management posts.

Implemented with support from one of the leading international consultants, the significant changes to Cemig’s management processes aim to increase economic competitiveness by providing more fluid decision-making, and more interaction between different areas, focusing on efficiency, sustainability and improvement in service to clients.

2) | Increased investment by Cemig D

The Board of Directors also approved an increase in the Investment Plan of Cemig’s Distribution company, Cemig Distribuição – Cemig D – including additional execution of R$ 1.2 billion in the years 2020 through 2022. This aims to:

| • |  | accelerate modernization of Cemig D’s assets base;

| • |  | reduce costs of operation and maintenance;

| • |  | improve the company’s quality indicators; and

| • |  | increase client satisfaction.

No changes have been made to the Investment Plan of Cemig Geração e Transmissão S.A. (‘Cemig GT’). This table shows Cemig’s new Investment Plan, in consolidated form:

Investment Plan |  |  |  | June 2019 R$ mn |
| Sources / purposes |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | TOTAL |
Cemig D |  | Cemig D funding (increased) |  |  | 1,078 |  |  |  | 1,632 |  |  |  | 1,573 |  |  |  | 1,632 |  |  |  | 1,386 |  |  |  | 7,301 |
| Funding from clients |  |  | 178 |  |  |  | 179 |  |  |  | 158 |  |  |  | 114 |  |  |  | 170 |  |  |  | 799 |
| Total, Cemig D |  |  | 1,257 |  |  |  | 1,811 |  |  |  | 1,730 |  |  |  | 1,746 |  |  |  | 1,556 |  |  |  | 8,100 |
Cemig GT |  | Transmission (upgrades and improvements) |  |  | 263 |  |  |  | 281 |  |  |  | 261 |  |  |  | 276 |  |  |  | 207 |  |  |  | 1,289 |
| Generation (operation and maintenance) |  |  | 30 |  |  |  | 96 |  |  |  | 183 |  |  |  | 117 |  |  |  | 23 |  |  |  | 450 |
| Cash injections |  |  | 46 |  |  |  | 89 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 135 |
| Total, Cemig GT |  |  | 340 |  |  |  | 466 |  |  |  | 444 |  |  |  | 393 |  |  |  | 230 |  |  |  | 1,873 |
|  | Cemig investment, consolidated |  |  | 1,596 |  |  |  | 2,277 |  |  |  | 2,174 |  |  |  | 2,139 |  |  |  | 1,786 |  |  |  | 9,973 |

Belo Horizonte, Monday, August 12, 2019.

Maurício Fernandes Leonardo Júnior

Chief Finance and Investor Relations Officer

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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5. MATERIAL ANNOUNCEMENT DATED AUGUST 14, 2019: EGM CALL ON ACQUISITION OF BRASNORTE

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

MATERIAL ANNOUNCEMENT

EGM call on acquisition of Brasnorte

Cemig (Companhia Energética de Minas Gerais, listed and traded in São Paulo, New York and Madrid), in accordance with CVM Instruction 358 of Jan. 3, 2002 as amended, hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market as follows:

Cemig’s affiliated company Transmissora Aliança de Energia Elétrica S.A. (‘Taesa’) has today published the following Material Announcement:

“Transmissora Aliança de Energia Elétrica S.A. (B3: TAEE11) (“Taesa” or “Company”), pursuant to CVM Instruction 358/02, as amended, hereby announces to its shareholders, the market in general and other interested parties that, the Board of Directors approved, on this date, the acquisition by the Company of all the shares issued by Brasnorte Transmissora de Energia S.A. (“Brasnorte”) held by Bipar Energia S.A. (“Bipar”), representing 11.62% of its total shares.

The main terms and conditions of the transaction are included in the proposal of Taesa’s management to be submitted to the General Meeting (“Management Proposal”). The Management Proposal and the call notice for the General Meeting will be filed at the Company’s headquarters and will be available for consultation on the Company’s website (www.taesa.com.br/ri), on B3 S.A. – Brasil, Bolsa, Balcão website (www.b3.com.br) and on the Brazilian Securities and Exchange Commission (CVM) website (www.cvm.gov.br).”

Belo Horizonte, August 14, 2019

Maurício Fernandes Leonardo Júnior

Chief Finance and Investor Relations Officer

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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6. MATERIAL ANNOUNCEMENT DATED AUGUST 20, 2019: TAESA – SPA SUBSCRIPTION FOR OPERATIONAL ASSET ACQUISITION

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

MATERIAL ANNOUNCEMENT

TAESA—SPA subscription for operational asset acquisition

Cemig (Companhia Energética de Minas Gerais, listed and traded in São Paulo, New York and Madrid), in accordance with CVM Instruction 358 of Jan. 3, 2002 as amended, hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market as follows:

Cemig’s affiliated company Transmissora Aliança de Energia Elétrica S.A. (‘Taesa’) has today published the following Material Announcement:

“ Transmissora Aliança de Energia Elétrica S.A. (B3: TAEE11) (“Taesa” or “Company”), pursuant to CVM Instruction 358, as of January 3, 2002, as amended, hereby announces to its shareholders, the market in general and other interested parties that, on this date, it entered into a Share Purchase Agreement (“Agreement”) with RC Administração e Participações S.A. (“RC” or “Seller”), with the purpose of acquiring 100% of the shares representing the total and voting capital of Rialma Transmissora de Energia 1 S.A. (“Acquisition” and “Rialma I ”, respectively).

The completion of the transaction results in the acquisition of an asset located in the State of Rio Grande do Norte, interconnected with one of Taesa’s substations – SE Lagoa Nova of Paraíso Açu Transmissora de Energia S.A. –, allowing operational advantages in maintaining the new asset, and consequently contributing to the Company’s growth plan and its consolidation in the Brazilian transmission sector. Rialma I comprises the transmission line LT Lagoa Nova 11 – Currais Novos 11, voltage of 230 kV, double circuit, with an extension of 28 km and Annual Permitted Revenues (RAP) of R$ 12.6 million (2019-2020 cycle).

For the Acquisition, the Company will pay to the Seller the amount of R$ 56,717,000.00 (fifty six million, seven hundred and seventeen thousand Reais) (base date: June 30, 2019), subject to positive or negative adjustments resulting from the variation between the net debt and the working capital between the base date and the closing date, as well as other adjustments after the closing.

The closing and accomplishment of the Acquisition are subject to certain precedent conditions, including, among others, (a) regulatory authorizations of ANEEL and CADE; (b) non-occurrence of material adverse effect; (c) approval of Rialma I creditors; (d) full disbursement of the amounts financed with Banco do Nordeste do Brasil S.A.; (e) approval at the Company’s General Meeting, pursuant to article 12, §1st, point “o” of the Company’s bylaws, at a date to be defined.

In addition, the Company informs its shareholders that the acquisition value does not constitute a material investment, pursuant to Article 256, I combined with Article 247, both of Law No. 6,404/1976 (“Brazilian Corporate Law”). Also, the deliberation of the above subject will not give rise to any right of withdrawal, since the condition of application of paragraph 2 of Article 256 of the Brazilian Corporation Law was not verified, that is, the price of Acquisition does not exceed one and a half times the highest of the three amounts referred to in item II of the head provision of said article. Additionally, there will be no right of withdrawal for dissenting shareholders regarding the resolution of the Meeting approving the Acquisition.

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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The main terms and conditions of the Agreement and other relevant documents will be included in the Taesa’s management proposal to be submitted to the General Meeting (“Management Proposal”) which will occur during the fulfillment of the precedent conditions applicable to the Acquisition. The Management Proposal and the call notice for the General Meeting will be filed at the Company’s headquarters and will be available for consultation on the Company’s website (www.taesa.com.br/ri), on B3 S.A. – Brasil, Bolsa, Balcão website (www.b3.com.br) and on the Brazilian Securities and Exchange Commission (CVM) website (www.cvm.gov.br).

The Company will keep its shareholders and the market informed on a timely manner in accordance with current legislation on the development of the matters covered in this Material Fact.”

Belo Horizonte, August 20, 2019

Maurício Fernandes Leonardo Júnior

Chief Finance and Investor Relations Officer

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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7. EARNINGS RELEASE 2Q19: CEMIG’S 2Q19 EBITDA IS R$1.8 BILLION

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2Q19 RESULTS

CEMIG:

2Q19 Ebitda is R$ 1.8 billion

Highlights of 2Q19:

◾ |  | Tax credits in ICMS case: |  | R$1.4 billion |  | received in the quarter
◾ |  | Finance income of: |  | R$ 1.5 billion |  | for updating of these credits
◾ |  | Eurobond hedge gain: |  | R$ 461 million |  | posted in finance income
◾ |  | Accounts receivable: |  | R$ 688 million |  | write-down for Renova credit risk

Indicators (GWh) |  | 2Q19 |  |  | 2Q18 |  |  | % |
Electricity sold (excluding CCEE) |  |  | 13,120 |  |  |  | 14,076 |  |  |  | (6.79 | )
Indicators – (R$ ’000) |  | 2Q19 |  |  | 2Q18 |  |  | % |
Sales on CCEE |  |  | 144,821 |  |  |  | 25,639 |  |  |  | 464.85 |
Net debt |  |  | 12,449,883 |  |  |  | 13,068,790 |  |  |  | (4.74 | )
Gross revenue |  |  | 9,973,225 |  |  |  | 8,289,559 |  |  |  | 20.31 |
Net revenue |  |  | 7,016,793 |  |  |  | 5,606,538 |  |  |  | 25.15 |
Ebitda (IFRS) |  |  | 1,811,785 |  |  |  | 883,482 |  |  |  | 105.07 |
Net profit |  |  | 2,114,986 |  |  |  | (10,886 | ) |  |  | — |
Ebitda margin |  |  | 25.82% |  |  |  | 15.75% |  |  |  | –10.07p.p. |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Conference call

Publication of 2Q19 results

Webcast and Conference call

Tuesday, August 20, 2019, at 10:00 am (Brasília time)

The transmission will have simultaneous translation in English and can be seen by Webcast, at http://ri.cemig.com.br , or by conference call on:

+ 55 (11) 2188-0155 (1st option) or

+ 55 (11) 2188-0188 (2nd option)

Password: CEMIG

Playback of Video Webcast: http://ri.cemig.com.br Click on the banner and download. Available for 90 days. |  | Conference call – Playback: Tel: (+55-11) 2188-0400 Password: CEMIG Português (Available August 20 – September 04, 2019)

Cemig Investor Relations

http://ri.cemig.com.br/

ri@cemig.com.br

Tel.: +55 (31) 3506-5024

Fax: +55 (31) 3506-5025

Cemig’s Executive Investor Relations Team

◾ | Chief Finance and Investor Relations Officer

Maurício Fernandes Leonardo Júnior

◾ | General Manager, Investor Relations

Antônio Carlos Vélez Braga

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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SUMMARY

CONFERENCE CALL |  | 17
CEMIG INVESTOR RELATIONS |  | 17
CEMIG’S EXECUTIVE INVESTOR RELATIONS TEAM |  | 17
SUMMARY |  | 18
DISCLAIMER |  | 19
OUR SHARES |  | 20
CEMIG’S LONG-TERM RATINGS |  | 21
STATEMENTS OF INCOME |  | 22
2Q19 RESULTS |  | 23
CEMIG’S CONSOLIDATED ELECTRICITY MARKET |  | 24
THE ELECTRICITY MARKET OF CEMIG D |  | 26
PHYSICAL TOTALS OF TRANSPORT AND DISTRIBUTION – MWH |  | 28
THE ELECTRICITY MARKET OF CEMIG GT |  | 28
SUPPLY QUALITY INDICATORS – DECI AND FECI |  | 29
CONSOLIDATED OPERATIONAL REVENUE |  | 30
TAXES AND CHARGES REPORTED AS DEDUCTIONS FROM REVENUE |  | 33
OPERATING COSTS AND EXPENSES |  | 33
DEFAULT |  | 35
SHARE OF PROFIT (LOSS) OF ASSOCIATES AND JOINT VENTURES, NET |  | 36
FINANCIAL REVENUE (EXPENSES) |  | 36
EBITDA |  | 37
DEBT |  | 38
RESULTS SEPARATED BY BUSINESS SEGMENT |  | 39
APPENDICES |  | 40
CAPEX |  | 40
SOURCES AND USES OF ELECTRICITY – BILLED MARKET |  | 41
GENERATION TRANSMISSION CONCESSIONS: |  | 43
PERMITTED ANNUAL REVENUE (RAP) FOR 2018-2019: |  | 44
CEMIG D TABLES (R$ MN) |  | 45
CEMIG GT TABLES (R$ MN) |  | 46
TABLES – CEMIG CONSOLIDATED (R$ MN) |  | 47

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Disclaimer

Certain statements and estimates in this material may represent expectations about future events or results, which are subject to risks and uncertainties that may be known or unknown. There is no guarantee that the events or results will take place as referred to in these expectations.

These expectations are based on the present assumptions and analyses from the point of view of our management, in accordance with their experience and other factors such as the macroeconomic environment, market conditions in the electricity sector, and expected future results, many of which are not under Cemig’s control.

Important factors that could lead to significant differences between actual results and the projections about future events or results include Cemig’s business strategy, Brazilian and international economic conditions, technology, Cemig’s financial strategy, changes in the electricity sector, hydrological conditions, conditions in the financial and energy markets, uncertainty on our results from future operations, plans and objectives, and other factors. Due to these and other factors, Cemig’s results may differ significantly from those indicated in or implied by such statements.

The information and opinions herein should not be understood as a recommendation to potential investors, and no investment decision should be based on the veracity, currentness or completeness of this information or these opinions. None of Cemig’s professionals nor any of their related parties or representatives shall have any liability for any losses that may result from use of the content of this material.

To evaluate the risks and uncertainties as they relate to Cemig, and to obtain additional information about factors that could give rise to different results from those estimated by Cemig, please consult the section on Risk Factors included in the Reference Form filed with the Brazilian Securities Commission (CVM) – and in the 20-F form filed with the U.S. Securities and Exchange Commission (SEC).

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Our shares

Security |  | Ticker |  | Currency |  | June 2019 |  |  | Close of 2018 |  |  | Change in the period % |
Cemig PN |  | CMIG4 |  | R$ |  |  | 14.85 |  |  |  | 13.43 |  |  |  | 10.57% |
Cemig ON |  | CMIG3 |  | R$ |  |  | 18.72 |  |  |  | 14.65 |  |  |  | 27.78% |
ADR PN |  | CIG |  | US$ |  |  | 3.81 |  |  |  | 3.45 |  |  |  | 10.43% |
ADR ON |  | CIG.C |  | US$ |  |  | 4.65 |  |  |  | 3.83 |  |  |  | 21.41% |
Ibovespa |  | IBOV |  | – |  |  | 100,967 |  |  |  | 87,887 |  |  |  | 14.88% |
Power industry index |  | IEEX |  | – |  |  | 63,831 |  |  |  | 49,266 |  |  |  | 29.56% |

Source: Economática – Adjusted for corporate action, including dividends.

Trading volume in Cemig’s preferred shares (CMIG4) totaled R$ 18.83 billion in the first half of 2019, of which R$ 8.85 billion was traded in the second quarter. The daily average in the half-year is R$ 154.36 million – 87.66% higher than in 1H18.

Average daily trading in the common (ON) shares was R$ 31.54 million in the half-year, and R$ 37.13 million in the second quarter.

By aggregate volume of its common (ON) and preferred (PN) shares, Cemig was the most liquid electricity company traded in Brazil, and among those with the highest trading volume in the Brazilian market.

On the New York Stock Exchange, ADRs for Cemig’s preferred shares (CIG) in 1H19 traded a total volume of US$1.78 billion. We see this as recognition of Cemig by the investor market as a global investment option.

In 1H19 the São Paulo Ibovespa stock index rose 14.88%, closing at 100,967 points; On the São Paulo exchange, Cemig’s common (ON) shares rose 27.78%, and its preferred (PN) shares rose 10.57%. In New York, Cemig’s ADRs also rose in the half-year: the ADRs for the common shares rose 21.41%, and the ADRs for the preferred shares rose 10.43%.

In 2Q19, Cemig’s preferred ADRs (CIG) rose 10.12%, and the preferred shares (CMIG4) rose 10.24%.

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Cemig’s long-term ratings

This tables shows long-term credit risk ratings and outlook for Cemig companies as provided by the principal rating agencies:

Brazilian rating:

Agency |  | Cemig |  | Cemig D |  | Cemig GT
|  | Rating |  | Outlook |  | Rating |  | Outlook |  | Rating |  | Outlook
Fitch |  | A–(bra) |  | Positive |  | A–(bra) |  | Positive |  | A–(bra) |  | Positive
S&P |  | brA+ |  | Stable |  | brA+ |  | Stable |  | brA+ |  | Stable
Moody’s |  | Baa2.br |  | Stable |  | Baa2.br |  | Stable |  | Baa2.br |  | Stable

Global rating:

Agency |  | Cemig |  | Cemig D |  | Cemig GT
|  | Rating |  | Outlook |  | Rating |  | Outlook |  | Rating |  | Outlook
Fitch |  | B+ |  | Positive |  | B+ |  | Positive |  | B+ |  | Positive
S&P |  | B |  | Stable |  | B |  | Stable |  | B |  | Stable
Moody’s |  | B1 |  | Stable |  | B1 |  | Stable |  | B1 |  | Stable

Ratings of Eurobonds:

Agency |  | Cemig |  | Cemig GT
|  | Rating |  | Outlook |  | Rating |  | Outlook
Fitch |  | B+ |  | Positive |  | B+ |  | Positive
S&P |  | B |  | Stable |  | B |  | Stable

Adoption of IFRS

The results presented below are prepared in accordance with Brazilian accounting rules, which now embody harmonization to IFRS (International Financial Reporting Standards). In thousands of Reais (R$ ’000)

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Statements of income

Consolidated – R$’000 |  | 2Q19 |  |  | 2Q18 Re-presented |  |  | % |
GOING CONCERN OPERATIONS |  |  |  |  |  |  |  |  |  |  |  |
REVENUE |  |  | 7,016,793 |  |  |  | 5,606,538 |  |  |  | 25.15 |
OPERATING COSTS |  |  |  |  |  |  |  |  |  |  |  |
Personnel |  |  | (312,031 | ) |  |  | (348,576 | ) |  |  | (10.48 | )
Employees’ and managers’ profit shares |  |  | (108,478 | ) |  |  | (3,150 | ) |  |  | 3.343.75 |
Post-retirement obligations |  |  | (97,790 | ) |  |  | (86,126 | ) |  |  | 13.54 |
Materials |  |  | (19,766 | ) |  |  | (18,416 | ) |  |  | 7.33 |
Outsourced services |  |  | (302,241 | ) |  |  | (254,553 | ) |  |  | 18.73 |
Electricity purchased for resale |  |  | (2,526,019 | ) |  |  | (2,818,905 | ) |  |  | (10.39 | )
Depreciation and amortization |  |  | (248,403 | ) |  |  | (198,309 | ) |  |  | 25.26 |
Operating provisions |  |  | (869,373 | ) |  |  | (134,112 | ) |  |  | 548.24 |
Charges for use of the national grid |  |  | (367,375 | ) |  |  | (416,038 | ) |  |  | (11.70 | )
Gas bought for resale |  |  | (330,180 | ) |  |  | (293,225 | ) |  |  | 12.60 |
Infrastructure construction costs |  |  | (266,107 | ) |  |  | (202,974 | ) |  |  | 31.10 |
Other operating expenses, net |  |  | (41,922 | ) |  |  | (85,246 | ) |  |  | (50.82 | )
TOTAL COST |  |  | (5,489,685 | ) |  |  | (4,859,630 | ) |  |  | 5.80 |
Share of profit (loss) of associates and joint ventures, net |  |  | 36,274 |  |  |  | (83,107 | ) |  |  | — |
Operational profit before financial revenue (expenses) and taxes |  |  | 1,563,382 |  |  |  | 663,801 |  |  |  | 187.95 |
Finance income |  |  | 2,272,470 |  |  |  | 249,315 |  |  |  | 811.49 |
Finance expenses |  |  | (363,883 | ) |  |  | (946,147 | ) |  |  | (61.54 | )
Pre-tax profit |  |  | 3,471,969 |  |  |  | (33,031 | ) |  |  | — |
Current and deferred income tax and Social Contribution tax |  |  | (1,356,983 | ) |  |  | 773 |  |  |  | — |
RESULT OF GOING CONCERN OPERATIONS |  |  | 2,114,986 |  |  |  | (32,258 | ) |  |  | — |
Profit for the period from discontinued operations – Telecoms |  |  | — |  |  |  | 21,372 |  |  |  | — |
NET PROFIT (LOSS) FOR THE PERIOD |  |  | 2,114,986 |  |  |  | (10,886 | ) |  |  | — |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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2Q19 Results

Cemig reports net profit of R$ 2,114,986 for 2Q19, which compares with a net loss of R$ 10,886 for 2Q18.

This higher figure was due to:

◾ | credits of PIS, Pasep and Cofins taxes awarded in the ICMS tax case – in the amount of R$ 1,438,563, received in the quarter; and

◾ | a financial revenue gain, of R$ 1,524,001, posted for monetary updating of the amount of these tax credits:

Credits of ICMS tax (court ruling that ICMS does not apply to Pasep/Cofins amounts)

On July 16, 2008, Cemig, Cemig GT and Cemig D filed an Ordinary Action for a declaration that it was unconstitutional to include the amount of ICMS value added tax – already paid or charged – inside the total on which the PIS, Pasep and Cofins taxes would be charged; and recognition of these companies’ right to compensation/offsetting of amounts unduly paid for the 10 years prior to the action being filed, with monetary adjustment by the Selic rate. The company and the said subsidiaries were awarded an interim injunction, and began to make escrow deposits into court for the amount represented by the inclusion of ICMS tax balances in the calculation base for the Pasep and Cofins taxes from August 2008 until August 2011. After that date, although they continued with the action challenging the calculation base, they opted to pay the contribution monthly.

In October 2017 the Federal Supreme Court (STF) published its Joint Judgment on the Extraordinary Appeal, in favor of Cemig’s argument. In 2017, based on the opinion of its legal advisers, the Company and its subsidiaries wrote down from liabilities the amounts paid in escrow from 2008 to 2011; and also recognized a liability for reimbursement to their distribution consumers.

On May 8, 2019 the Regional Federal Appeal Court of the First Region gave final judgment (i.e. judgment against which there is no appeal) on the Ordinary Action, deciding in favor of Cemig, Cemig D and Cemig GT, and recognizing their right to exclude the ICMS amounts from the calculation base for Pasep and Cofins taxes, backdated from five years prior to the initial filing of the case – that is, from July 2003.

On June 11, 2019, based on this final judgment, the Companies filed for release of the escrow deposits, in the total amount of R$ 1,423,421: this still awaits court decision. Judgment has also been given, against which there is no further appeal, in favor of the similar applications made by Cemig’s wholly-owned subsidiaries Sá Carvalho, Cemig Geração Distribuída and UTE Barreiro.

Based on the opinion of its legal advisers, the Company believes that a portion of the credits to be received by Cemig D should be repaid to that company’s consumers in respect of a maximum period of 10 years. Thus, the Company constituted a liability corresponding to the credits arising for the last 10 years, that is to say, from June 2009 to May 2019, net of Pasep and Cofins taxes on the finance income gain represented by inflation correction of the total amount.

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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The amounts will be repaid to consumers as from the date when the tax credits are in fact received by Cemig or its companies. These are still pending approval by the federal tax authority. The mechanisms and criteria for the repayment will be discussed with Aneel.

Pasep and Cofins credits R$ ’000 |  | Cemig H |  |  | Cemig D |  |  | Cemig GT |  |  | Other investees |  |  | Total |
Effect on Statement of financial position |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxes offsettable (July 2003 to May 2019) |  |  | 484,426 |  |  |  | 4,833,278 |  |  |  | 640,163 |  |  |  | 26,163 |  |  |  | 5,984,030 |
Amounts to be restituted to consumers |  |  | — |  |  |  | (2,971,879 | ) |  |  | — |  |  |  | — |  |  |  | (2,971,879 | )
Taxes |  |  | (3,358,00 | ) |  |  | (40,256 | ) |  |  | (5,743 | ) |  |  | (231 | ) |  |  | (49,587 | )
Income tax and Social Contribution tax |  |  | (163,467 | ) |  |  | (593,968 | ) |  |  | (212,416 | ) |  |  | (8,646 | ) |  |  | (978,497 | )
Equity |  |  | 317,601 |  |  |  | 1,227,175 |  |  |  | 422,004 |  |  |  | 17,286 |  |  |  | 1,984,067 |
Effects on profit and loss account |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenue (other operational revenues) |  |  | 183,595 |  |  |  | 830,333 |  |  |  | 408,612 |  |  |  | 16,023 |  |  |  | 1,438,563 |
Net Finance income |  |  | 300,831 |  |  |  | 990,810 |  |  |  | 225,808 |  |  |  | 9,909 |  |  |  | 1,524,001 |
Income tax and Social Contribution tax |  |  | (164,705 | ) |  |  | (593,968 | ) |  |  | (212,416 | ) |  |  | (8,646 | ) |  |  | (978,497 | )
|  |  | 317,602 |  |  |  | 1,227,175 |  |  |  | 422,004 |  |  |  | 17,286 |  |  |  | 1,984,067 |

https://cemig.infoinvest.com.br/enu/17732/Fato_Relevante_Acao_ICMS_ing.pdf

Cemig’s consolidated electricity market

The Cemig Group sells electricity through its distribution company, Cemig Distribuição (‘Cemig D’), its generation and transmission company, Cemig Geração e Transmissão (‘Cemig GT’), and other wholly-owned subsidiaries: Horizontes Energia, Sá Carvalho, Cemig PCH, Rosal Energia, CE Praias de Parajuru, CE Volta do Rio, Cemig Geração Camargos, Cemig Geração Itutinga, Cemig Geração Salto Grande, Cemig Geração Três Marias, Cemig Geração Leste, Cemig Geração Oeste, and Cemig Geração Sul.

These companies sell electricity to:

(i) | Captive consumers in Cemig’s concession area in the State of Minas Gerais;

(ii) | Free Clients in both the State of Minas Gerais and other States of Brazil, in the Free Market (Ambiente de Contratação Livre, or ACL);

(iii) | other agents of the electricity sector – traders, generators and independent power producers, also in the ACL; and

(iv) | Distributors, in the Regulated Market (Ambiente de Contratação Regulada, or ACR).

In 2Q19 the Cemig group sold a total volume of 13,120,258 MWh, or 6.79% less than in 2Q18. This reflects: re-classifications, in May, of industrial consumers from the captive market to the commercial and residential categories; a lower total for the Free Client segment, due to differences arising from seasonal factors; and lower sales of energy in the Regulated Market, due to ending of sale contracts made at the 15th Existing Supply Auction.

In June 2019 the Cemig Group invoiced 8,466,721 clients – or 0.6% less than the numerical total of the consumer base in June 2018. Of these, 8,466,370 are final consumers, and/or represent Cemig’s own consumption; and 351 are other agents in the Brazilian electricity sector.

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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The chart below itemizes the Cemig Group’s sales to final consumers in the year, by consumer category:

Sales to final consumers, 2Q19 and 2Q18

Total consumption of electricity (GWh)

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Consolidated |  | MWh |  |  | Change,% |  |  | Average price 2Q19 R$/MWh |  |  | Average price 2Q18 R$/MWh |
| 2Q19 |  |  | 2Q18 |
Residential |  |  | 2,547,878 |  |  |  | 2,557,762 |  |  |  | (0.39 | ) |  |  | 866,13 |  |  |  | 761.63 |
Industrial |  |  | 3,947,233 |  |  |  | 4,524,750 |  |  |  | (12.76 | ) |  |  | 292,56 |  |  |  | 253.97 |
Commercial, Services and Others |  |  | 2,374,683 |  |  |  | 2,155,487 |  |  |  | 10.17 |  |  |  | 539,37 |  |  |  | 498.74 |
Rural |  |  | 915,078 |  |  |  | 954,766 |  |  |  | (4.16 | ) |  |  | 503,50 |  |  |  | 424.59 |
Public authorities |  |  | 231,943 |  |  |  | 220,791 |  |  |  | 5.05 |  |  |  | 681,83 |  |  |  | 595.45 |
Public lighting |  |  | 333,969 |  |  |  | 345,401 |  |  |  | (3.31 | ) |  |  | 420,72 |  |  |  | 369.86 |
Public services |  |  | 339,954 |  |  |  | 331,174 |  |  |  | 2.65 |  |  |  | 488,01 |  |  |  | 428.80 |
Subtotal |  |  | 10,690,738 |  |  |  | 11,090,131 |  |  |  | (3.60 | ) |  |  | 520,80 |  |  |  | 448.94 |
Own consumption |  |  | 7,247 |  |  |  | 11,357 |  |  |  | (36.19 | ) |  |  | — |  |  |  | — |
Wholesale supply to agents in Free and Regulated Markets (*) |  |  | 2,422,273 |  |  |  | 2,974,570 |  |  |  | (18.57 | ) |  |  | 264,85 |  |  |  | 257.69 |
Total |  |  | 13,120,258 |  |  |  | 14,076,058 |  |  |  | (6.79 | ) |  |  | 482,29 |  |  |  | 414.75 |

(*) | Includes CCEARs (Regulated Market Sales Contracts), ‘bilateral contracts’ with other agents, and the revenues from management of generation assets (‘GAG’ revenues) for the 18 hydroelectric plants of Lot D of Auction 12/2015.

The electricity market of Cemig D

Electricity billed to captive clients and electricity transported for Free Clients and distributors with access to Cemig D’s networks totaled 11,198,304 MWh in 2Q19. There are two components of this increase:

◾ | consumption by the captive market 0.79% lower YoY, and

◾ | use of the network by Free Clients 0.75% higher YoY.

Captive clients + Transmission service – MWh |  | 2Q19 |  |  | 2Q18 |  |  | % |
Residential |  |  | 2,547,878 |  |  |  | 2,557,762 |  |  |  | (0.39 | )
Industrial |  |  | 5,112,557 |  |  |  | 5,133,422 |  |  |  | (0.41 | )
Commercial, Services and Others |  |  | 1,622,920 |  |  |  | 1,587,809 |  |  |  | 2.21 |
Rural |  |  | 917,775 |  |  |  | 957,532 |  |  |  | (4.15 | )
Public authorities |  |  | 231,943 |  |  |  | 220,791 |  |  |  | 5.05 |
Public lighting |  |  | 333,969 |  |  |  | 345,401 |  |  |  | (3.31 | )
Public services |  |  | 339,954 |  |  |  | 331,174 |  |  |  | 2.65 |
Concession holders (Distributors) |  |  | 84,060 |  |  |  | 70,446 |  |  |  | 19.33 |
Total |  |  | 11,198,304 |  |  |  | 11,215,694 |  |  |  | (0.12 | )

Residential

The figure for 2Q19 residential consumption 0.39% lower than in 2Q18 is related to the billing calendar.

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Industrial

The total for the captive market segment was reduced, in the quarter, by reclassification, in May, of approximately 50% of the consumers in the Industrial category to the Commercial and Residential categories. The reduction in the Free Client segment is related to differences in seasonal effects between the second quarters of 2018 and 2019. In spite of the fall in the market, there was an increase in revenue due to different contractual prices, and price adjustments.

Commercial and Services

The figure 2.21% higher than in 2Q18 is associated with the significant increase in consumption by the Free Market, associated with an increase (12.91%) in migration of clients from the captive market.

Rural

The figure for 2Q19 was 4.15% lower YoY, mainly reflecting the lower number of consumers billed in June 2019 than June 2018, and the lower consumption related to irrigation (due to better rainfall).

Number of clients

The Cemig group billed a total of 8,465,537 customers in June 2019 (this excludes the group’s own consumption). Of this total, 1,220 are Free Clients, which use Cemig D’s distribution network.

Cemig D |  | Number of clients |  |  | Change,% |
| June 30, 2019 |  |  | June 30, 2018 |
Residential |  |  | 6,880,550 |  |  |  | 6,807,112 |  |  |  | 1.08 |
Industrial |  |  | 29,712 |  |  |  | 73,261 |  |  |  | (59.44 | )
Commercial, Services and Others |  |  | 761,017 |  |  |  | 719,192 |  |  |  | 5.82 |
Rural |  |  | 708,542 |  |  |  | 710,131 |  |  |  | (0.22 | )
Public authorities |  |  | 64,565 |  |  |  | 64,171 |  |  |  | 0.61 |
Public lighting |  |  | 6,425 |  |  |  | 6,185 |  |  |  | 3.88 |
Public services |  |  | 13,506 |  |  |  | 13,253 |  |  |  | 1.91 |
|  |  | 8,464,317 |  |  |  | 8,393,305 |  |  |  | 0.85 |
Total energy carried |  |  |  |  |  |  |  |  |  |  |  |
Industrial |  |  | 594 |  |  |  | 556 |  |  |  | 6.83 |
Commercial |  |  | 618 |  |  |  | 504 |  |  |  | 22.62 |
Rural |  |  | 5 |  |  |  | 5 |  |  |  | — |
Concession holder |  |  | 3 |  |  |  | 3 |  |  |  | — |
|  |  | 1,220 |  |  |  | 1,068 |  |  |  | 14.23 |
Total |  |  | 8,466,214 |  |  |  | 8,395,120 |  |  |  | 0.85 |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Physical totals of transport and distribution – MWh

Metered market |  | MWh |  |  | Change, |
| 2Q19 |  |  | 2Q18 |  |  | % |
Total energy carried |  |  |  |  |  |  |  |  |  |  |  |
Transported for distributors (metered) |  |  | 86,200 |  |  |  | 75,858 |  |  |  | 13.63 |
Transported for Free Clients (metered) |  |  | 4,945,263 |  |  |  | 4,806,097 |  |  |  | 2.90 |
Own load + Distributed generation (1)(2) |  |  | 7,977,385 |  |  |  | 8,002,427 |  |  |  | (0.31 | )
Consumption by captive market – Billed supply |  |  | 6,288,496 |  |  |  | 6,331,252 |  |  |  | (0.68 | )
Losses in distribution network |  |  | 1,688,889 |  |  |  | 1,671,175 |  |  |  | 1.06 |
Total energy carried |  |  | 13,008,849 |  |  |  | 12,884,381 |  |  |  | 0.97 |

(1) | Includes Distributed Microgeneration.

(2) | Includes own consumption.

The electricity market of Cemig GT

Cemig GT billed a total of 6,864,111 MWh in 2Q19, an decrease of 9.15% vs. 2Q18.

Consumption by industrial clients was 10.92% lower year-on-year, due to a higher seasonal effect at the beginning of 2019, in which less power was allocated in the first half and more in the second half of the year. Meanwhile, consumption in the commercial market segment was 27.07% higher year-on-year, due to an increasing number of clients migrating from the captive market to the free market. Cemig GT added 118 commercial clients from June 2018 to June 2019.

Cemig GT |  | (MWh) |  |  | Change,% |
| 2Q19 |  |  | 2Q18 |
Free Clients |  |  |  |  |  |  |  |  |  |  |  |
Industrial |  |  | 3,326,304 |  |  |  | 3,733,998 |  |  |  | (10.92 | )
Commercial |  |  | 1,082,661 |  |  |  | 851,996 |  |  |  | 27.07 |
Rural |  |  | 525 |  |  |  | 315 |  |  |  | 66.74 |
Free Market – Free contracts |  |  | 1,892,133 |  |  |  | 2,339,728 |  |  |  | (19.13 | )
Regulated Market |  |  | 530,140 |  |  |  | 597,555 |  |  |  | (11.28 | )
Regulated Market – Cemig D |  |  | 32,348 |  |  |  | 32,218 |  |  |  | 0.40 |
Total |  |  | 6,864,111 |  |  |  | 7,555,810 |  |  |  | (9.15 | )

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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SUPPLY QUALITY INDICATORS – DECi and FECi

Cemig is continuously taking action to improve its operational management, the logistical organization of its emergency services, and its permanent routine of preventive inspection and maintenance of substations, distribution lines and networks. It also invests in training of its staff for improved qualifications, state-of-the-art technologies, and standardization of work processes, aiming to maintain the quality of electricity supply, and as a result maintain satisfaction of clients and consumers.

The charts below show Cemig’s indicators for duration and frequency of outages:

• |  | DECi (Average Outage Duration per Consumer, in hours), and

• |  | FECi (Average Outage Frequency per Consumer, in number of outages), – since January 2016. These quality indicators are linked to the current concession contract of Cemig D (distribution), signed in 2015.

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Consolidated operational revenue

Revenue from supply of electricity:

Total revenue from supply of electricity in 2Q19 was R$ 6,327,737, or 8.39% more than in 2Q18 (R$ 5,838,104).

Final consumers

Total revenue from electricity sold to final consumers, excluding Cemig’s own consumption, in 2Q19 was R$ 5,567,717, or 11.83% more than in 2Q18 (R$ 4,978,835).

The main factors in this revenue were:

◾ | The annual tariff adjustment for Cemig D effective May 28, 2019, with an average upward effect of 8.73% on consumer tariffs.

◾ | The annual tariff adjustment for Cemig D, effective May 28, 2018 (full effect in 2019) resulting in an average increase in customer tariffs of 23.19%.

|  | 2Q19 |  |  | 2Q18 |  |  | Change% |
| MWh |  |  | R$ |  |  | MWh |  |  | R$ |  |  | MWh |  |  | R$ |
Residential |  |  | 2,547,878 |  |  |  | 2,206,790 |  |  |  | 2,557,762 |  |  |  | 1,948,068 |  |  |  | (0.39 | ) |  |  | 13.28 |
Industrial |  |  | 3,947,233 |  |  |  | 1,154,786 |  |  |  | 4,524,750 |  |  |  | 1,149,137 |  |  |  | (12.76 | ) |  |  | 0.49 |
Commercial, services and others |  |  | 2,374,683 |  |  |  | 1,280,841 |  |  |  | 2,155,487 |  |  |  | 1,075,019 |  |  |  | 10.17 |  |  |  | 19.15 |
Rural |  |  | 915,078 |  |  |  | 460,746 |  |  |  | 954,766 |  |  |  | 405,384 |  |  |  | (4.16 | ) |  |  | 13.66 |
Public authorities |  |  | 231,943 |  |  |  | 158,145 |  |  |  | 220,791 |  |  |  | 131,469 |  |  |  | 5.05 |  |  |  | 20.29 |
Public lighting |  |  | 333,969 |  |  |  | 140,508 |  |  |  | 345,401 |  |  |  | 127,749 |  |  |  | (3.31 | ) |  |  | 9.99 |
Public services |  |  | 339,954 |  |  |  | 165,901 |  |  |  | 331,174 |  |  |  | 142,009 |  |  |  | 2.65 |  |  |  | 16.82 |
Subtotal |  |  | 10,690,738 |  |  |  | 5,567,717 |  |  |  | 11,090,131 |  |  |  | 4,978,835 |  |  |  | (3.60 | ) |  |  | 11.83 |
Own consumption |  |  | 7,247 |  |  |  | — |  |  |  | 11,357 |  |  |  | — |  |  |  | (36.19 | ) |  |  | — |
Unbilled retail supply, net |  |  | — |  |  |  | 80,721 |  |  |  | — |  |  |  | 130,096 |  |  |  | — |  |  |  | (37.95 | )
|  |  | 10,697,985 |  |  |  | 5,648,438 |  |  |  | 11,101,488 |  |  |  | 5,108,931 |  |  |  | (3.63 | ) |  |  | 10.56 |
Wholesale supply to other concession holders (1) |  |  | 2,422,273 |  |  |  | 641,532 |  |  |  | 2,974,570 |  |  |  | 766,525 |  |  |  | (18.57 | ) |  |  | (16.31 | )
Wholesale supply not yet invoiced, net |  |  | — |  |  |  | 37,767 |  |  |  | — |  |  |  | (37,352 | ) |  |  | — |  |  |  | (201.11 | )
Total |  |  | 13,120,258 |  |  |  | 6,327,737 |  |  |  | 14,076,058 |  |  |  | 5,838,104 |  |  |  | (6.79 | ) |  |  | 8.39 |

(1) | Includes Regulated Market Electricity Sale Contracts (CCEARs) and ‘bilateral contracts’ with other agents.

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Revenue from Use of the Distribution System (the TUSD charge)

Revenue from the Tariff for Use of the Distribution System (TUSD) in 2Q19 was R$ 635,675, or 44.28% more than in 2Q18 (R$ 440,599) – the higher figure reflects the increase of 65.60% granted for the TUSD, in effect from May 28, 2018 (full effect in 2019), and also the higher volume of energy carried.

CVA and Other financial components in tariff adjustment

In its financial statements Cemig recognizes the difference between actual non-controllable costs (in which the CDE, and electricity bought for resale, are significant components) and the costs that were used as the basis for decision on the rates charged to consumers. In 2Q19 amounts totaling R$ 40,109 to be passed through to the Company in the next tariff adjustment were recognized, compared to R$ 709,516 arising in 2Q18. This difference is mainly due to a lower difference than in 2018 between the cost of energy in 2019 and the cost estimated in the tariff – this difference generates a financial asset to be reimbursed to consumers through the next tariff adjustment.

Changes in balances of CVA-related financial assets and liabilities:

|  | R$ ’000
Balance at March 31, 2018 |  |  |  | 242,546 |
Net constitution of financial assets |  |  |  | 563,662 |
Realized |  |  |  | 145,854 |
Others – R&D Reimbursement |  |  |  | (114,782 | )
Payments from the Flag Tariff Centralizing Account |  |  |  | (12,404 | )
Inflation adjustment – Selic rate (Note 30) |  |  |  | 10,839 |
Balance at June 30, 2018 (re-presented) |  |  |  | 835,715 |
Balance at March 31, 2019 |  |  |  | 1,147,415 |
Net constitution of financial assets (1) |  |  |  | 87,700 |
Realized |  |  |  | (127,809 | )
Advances from the Flag Tariff Centralizing Account |  |  |  | (8,581 | )
Inflation adjustment – Selic rate (Note 30) |  |  |  | 32,140 |
Balance at Sunday, June 30, 2019 |  |  |  | 1,130,865 |

(1) | The CVA asset recognized in the period is mainly due to a higher difference in 2019 than 2018 between actual costs of energy and the estimate figures used for future cost of energy in the tariff calculation (the difference generates a financial asset to be reimbursed to the Company through the next tariff adjustment).

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Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Revenue from transactions on the Wholesale Trading Exchange (CCEE)

Revenue from transactions in electricity on the CCEE in 2Q19 was R$ 144,821, compared to R$ 25,639 in 2Q18 – an increase of 464.85% year-on-year. This arises mainly from the following items:

◾ | Free Clients adopted a more aggressive strategy in seasonalization of their contracts in 2Q19 than in 2Q18, which increased Cemig GT’s levels of available excess energy in April and May 2019.

◾ | The spot price in April 2019 was higher than in April 2018, resulting in higher revenue in 2Q19 than 2Q18.

◾ | Cemig assumed a debtor position in the CCEE in June 2018, caused by higher allocation of supply by clients in this period, and by spot sales.

Period |  | Spot price |  | GSF
| Sub-market |  | Average price – R$/MWh
April |  | Southeast/Center-West |  |  |  | 180.41 |  |  |  |  | 1.189 |
May |  | Southeast/Center-West |  |  |  | 135.17 |  |  |  |  | 0.923 |
June |  | Southeast/Center-West |  |  |  | 78.52 |  |  |  |  | 0.669 |

Revenue from supply of gas

Revenue from supply of gas in 2Q19 totaled R$ 534,955, compared to R$ 470,908 in 2Q18 – an increase of 13.60%. This mainly reflected the increase in the tariff in 2Q19, and the increase in the passthrough of the cost of gas acquired from Petrobras.

Market (’000 m3/day) |  | 2014 |  |  | 2015 |  |  | 2016 |  |  | 2017 |  |  | 2018 |  |  | June 30, 2019 |
Residential |  |  | 0.72 |  |  |  | 1.04 |  |  |  | 3.38 |  |  |  | 11.44 |  |  |  | 17.73 |  |  |  | 19.23 |
Commercial |  |  | 23.15 |  |  |  | 22.42 |  |  |  | 24.68 |  |  |  | 32.67 |  |  |  | 39.37 |  |  |  | 41.87 |
Industrial |  |  | 2,849.24 |  |  |  | 2,422.78 |  |  |  | 2,173.76 |  |  |  | 2,453.22 |  |  |  | 2,400.41 |  |  |  | 2,219.07 |
Other expenses |  |  | 99.64 |  |  |  | 119.87 |  |  |  | 120.19 |  |  |  | 126.15 |  |  |  | 155.14 |  |  |  | 154.33 |
Total market excluding thermal plants |  |  | 2,972.75 |  |  |  | 2,566.11 |  |  |  | 2,322.01 |  |  |  | 2,623.47 |  |  |  | 2,612.65 |  |  |  | 2,434.50 |
Thermal generation |  |  | 1,223.99 |  |  |  | 1,309.13 |  |  |  | 591.52 |  |  |  | 990.89 |  |  |  | 414.04 |  |  |  | 534.27 |
Total |  |  | 4,196.74 |  |  |  | 3,875.24 |  |  |  | 2,913.53 |  |  |  | 3,614.36 |  |  |  | 3,026.69 |  |  |  | 2,968.77 |

• |  | Supply of gas to the residential market began in 2013.

• |  | In June 2019, a total of 46,638 households were invoiced.

Number of clients |  | 2014 |  |  | 2015 |  |  | 2016 |  |  | 2017 |  |  | 2018 |  |  | June 30, 2019 |
Residential |  |  | 1,446 |  |  |  | 3,820 |  |  |  | 14,935 |  |  |  | 30,605 |  |  |  | 41,377 |  |  |  | 45,593 |
Commercial |  |  | 177 |  |  |  | 218 |  |  |  | 394 |  |  |  | 591 |  |  |  | 756 |  |  |  | 878 |
Industrial |  |  | 111 |  |  |  | 113 |  |  |  | 112 |  |  |  | 107 |  |  |  | 109 |  |  |  | 107 |
Other expenses |  |  | 88 |  |  |  | 62 |  |  |  | 49 |  |  |  | 50 |  |  |  | 57 |  |  |  | 58 |
Thermal generation |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  |  | 2 |
Total |  |  | 1,824 |  |  |  | 4,215 |  |  |  | 15,492 |  |  |  | 31,355 |  |  |  | 42,301 |  |  |  | 46,638 |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Credits of PIS, Pasep and Cofins taxes previously charged on amounts of ICMS tax

The credits of PIS, Pasep and Cofins taxes, previously charged in respect of ICMS already paid or charged – these credits total R$ 1,438,563 – are the result of recognition by the courts, backdated to July 2003, of the Company’s right to exclude the amount of ICMS tax (already charged or paid) from the calculation base of those taxes.

Taxes and charges reported as Deductions from revenue

The total of these taxes and charges reported as deductions from revenue in 2Q19 was R$ 2,957,993 – or 10.25% more than in 2Q18 (R$ 2,683,021). The main component of the difference was in collection of ICMS tax, which is charged as a percentage of billing.

Operating costs and expenses

Operational costs and expenses in 2Q19 totaled R$ 5,489,685, or 12.97% more than in 2Q18 (R$ 4,859,629).

The following paragraphs comment on the main variations:

Personnel

The expense on personnel in 2Q19 was R$ 312,031, or 10.48% less than in 2Q18 (R$ 348,576). The lower figure basically reflects higher expenses on the voluntary dismissal program in 2Q18 – a total of R$ 25,666; and the lower total number of employees in 2Q19 as a result of those voluntary programs.

Number of employees – by company

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Employees’ and managers’ profit shares

This expense in 2Q19 was R$ 108,478, compared to R$ 3,150 in 2Q18. The higher figure is due to the higher consolidated profit of Cemig – the basis of calculation for profit shares (the collective agreements are unified).

Electricity purchased for resale

The expense on electricity bought for resale in 2Q19 was R$ 2,526,019, or 10.39% less than in 2Q18 (R$ 2,818,905). This arises mainly from:

◾ | Expenses on supply acquired at auction 9.57% lower, at R$ 684,774 in 2Q19, compared to R$ 757,243 in 2Q18, mainly due to updating of contracts for more advantageous terms in 2019.

◾ | Expenses on spot supply purchases 60.84% lower, at R$ 278,055 in 2Q19, compared to R$ 710,115 in 2Q18 – mainly reflecting the spot price being 56.60% lower year-on-year.

◾ | Expenses on distributed generation 129.76% higher, at R$ 44,892 in 2Q19, compared to R$ 19,539 in 2Q18 – reflecting the growth from 2Q18 to 2Q19 in the number of generation plants, and the scale of supply injected into the grid.

◾ | Expenses on supply acquired through physical guarantee quota contracts were 24.08% higher, at R$ 185,427 in 2Q19, compared to R$ 140,241 in 2Q18. This was basically due to the average price per MWh being 22.73% higher – at R$ 101.93 in 2Q19, compared to R$ 83.05 in 2Q18.

This is a non-manageable cost: the difference between the amounts used as a reference for calculation of tariffs and the costs actually incurred is compensated for in the subsequent tariff adjustment.

Power supply bought for resale R$ ’000 |  | 2Q19 |  |  | 2Q18 |  |  | % |
Supply from Itaipu Binacional |  |  | 361,021 |  |  |  | 345,177 |  |  |  | 4.59 |
Physical guarantee quota contracts |  |  | 185,427 |  |  |  | 149,437 |  |  |  | 24.08 |
Quotas for Angra I and II nuclear plants |  |  | 67,293 |  |  |  | 66,711 |  |  |  | 0.87 |
Spot market – CCEE |  |  | 246,418 |  |  |  | 621,825 |  |  |  | (60.37 | )
‘Bilateral’ contracts |  |  | 78,883 |  |  |  | 73,011 |  |  |  | 8.04 |
Supply acquired in auctions on the Regulated Market |  |  | 702,423 |  |  |  | 764,807 |  |  |  | (8.16 | )
Proinfa Program |  |  | 95,308 |  |  |  | 79,849 |  |  |  | 19.36 |
Distributed generation |  |  | 44,892 |  |  |  | 19,539 |  |  |  | 129.76 |
Pasep and Cofins credits |  |  | (154,239 | ) |  |  | (193,253 | ) |  |  | (20.19 | )
|  |  | 1,627,426 |  |  |  | 1,927,103 |  |  |  | (15.55 | )

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Operating provisions

Operational provisions were 548.24% higher YoY in the quarter – at R$ 869,373 in 2Q19, compared to R$ 134,112 in 2Q18. This arises mainly from the following factors:

◾ | A loss of R$ 688,031 was recognized for expected impairment of Accounts receivable from Renova, after an assessment of the investee’s credit risk.

◾ | Provisions for employment-law legal actions totaling R$ 105,122 in 2Q19, compared to a reversal of provisions of R$ 20,114 in 2Q18. This arises mainly from new actions, or from reassessment of the chances of loss in existing actions, based on adverse court decisions taking place in the period. Also, a difference was recognized for application of the IPCA-E inflation index instead of the TR reference rate in monetary adjustment for employment-law legal actions dealing with debts arising from March 25, 2015 to November 10, 2017, inclusive – these are at the advanced execution phase and now have chances of loss assessed as ‘probable’, due to the recent decision by the Regional Employment-law Appeal Court of the Minas Gerais region (3rd Region) to accept the decision of the Higher Employment-law Appeal Court to mandate use of the IPCA-E index.

◾ | Reduction in the allowance for doubtful receivables – by 47.88%, from R$ 91,374 in 2Q18 to R$ 47,627 in 2Q19.

Default

In 2019 the economy was marked by two main features: instability in the financial market, and continuation of the slow process of recovery in economic activity.

To be sure of overcoming the effects of an economic scenario that still appears to be adverse, and to combat the historic level of default, in 2019 Cemig is maintaining its high levels of effort for collection from consumers in default. This appears to be producing positive results: the default situation has improved considerably in recent months. The average of the indices for default in this last quarter has improved by 7.5% from that of 2Q18, and by 12% from 2Q17. The main contribution came from a significant reduction in short-term debt (up to 3 months past due). In view of this, Cemig expects the downward trend that has begun in 2019 to be maintained – and that it will thus be able to reduce the level of this index continuously, converging to historic levels.

Cemig uses various tools of communication and collection to prevent increase in default. These include contact by telephone and email, collection requests by text and by letter, negative posting on credit registers, collection through the courts and, principally, disconnection of supply. Aneel Resolution 414 allows supply to be cut off after 15 days from receipt of a notice by a defaulting consumer.

Importantly, the Company is maintaining a robust plan for consumer disconnections in 2019, under which it expects to carry out more than 1 million consumer disconnections – over the aggregate of all the types of consumer – in a year, for the second year running.

As well as the collection methods Cemig already uses to combat default over the long term, it is in the process of contracting a company specialized in out-of-court solutions to disputes, to negotiate these receivables through technology platforms.

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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With more intense application of the tools for collection, the Company is even more confident that default indices will be reduced in the coming periods.

Share of profit (loss) of associates and joint ventures, net

The result of equity method gains in non-consolidated investees in 2Q19 was a gain of R$ 36,274, compared to a loss of R$ 83,107 in 2Q18. The losses in 2Q18 mainly came from the interests in Renova and Madeira Energia. No equity loss on the investment in Renova was recognized in the first half of 2019, since this had been written off in December 2018, due to that investee’s uncovered liabilities.

Financial revenue (expenses)

Cemig reported net financial revenue in 2Q19 of R$ 1,908,587, which compares with net financial expenses of R$ 696,832 in 2Q18. The main factors are:

◾ | Higher gain on the hedge transaction contracted to protect the Eurobond issue from exchange rate variation: the gain in 2Q19 was R$ 461,083, compared to a gain of R$ 82,879 in 2Q18. This improvement mainly reflects lowering of the yield curve over the period of the contract, which helps reduce expectations for the amount of payments of Cemig’s obligations, which are indexed to the CDI rate, increasing the fair value of the option.

◾ | Updating of the tax credits in PIS, Pasep and Cofins taxes (arising from the legal decision on ICMS tax). The total of this updating at present is R$ 1,524,001.

◾ | Lower FX variation on loans in foreign currency – which in 2Q19 represented a financial gain of R$ 103,450, but were a financial expense of R$ 540,755 in 2Q18. This reduction is due to the lower exchange rate in effect in the period.

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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EBITDA

Cemig’s consolidated Ebitda in 2Q19 was 105.07% higher than in 2Q18 – the main component being recognition of the credits for PIS, Pasep and Cofins tax, following the judgment in the company’s favor on the ICMS tax issue. Ebitda margin in 2Q19 was 59.54%, compared to 26.24% in 2Q18.

Ebitda R$ ’000 |  | 2Q19 |  |  | 2Q18 |  |  | Change,% |
Net profit for the period |  |  | 2,114,986 |  |  |  | (10,886 | ) |  |  | — |
+ Income tax and the Social Contribution tax |  |  | 1,356,983 |  |  |  | (773 | ) |  |  | — |
+ Net financial revenue (expenses) |  |  | (1,908,587 | ) |  |  | 696,832 |  |  |  | — |
+ Depreciation and amortization |  |  | 248,403 |  |  |  | 198,309 |  |  |  | 25.26 |
= Ebitda |  |  | 1,811,785 |  |  |  | 883,482 |  |  |  | 105.07 |

EBITDA

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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DEBT

The Company’s total consolidated debt at June 30, 2019 was R$ 13,876,389.

| • |  | This is 6.06% lower than at December 31, 2018.

In 2Q19 a total of R$ 769,148 was amortized, of which R$ 515,242 was debt of Cemig D.

Total and net debt, by company R$ ’000 |  | Jun. 30, 2019 |  |  | Dec. 31, 2018 |  |  | % |
Cemig |  |  |  |  |  |  |  |  |  |  |  |
Total debt |  |  | 13,876,389 |  |  |  | 14,771,828 |  |  |  | (6.06 | )
Net debt |  |  | 12,449,883 |  |  |  | 13,068,790 |  |  |  | (4.74 | )
Cemig GT |  |  |  |  |  |  |  |  |  |  |  |
Total debt |  |  | 7,819,245 |  |  |  | 8,198,912 |  |  |  | (4.63 | )
Net debt |  |  | 7,234,807 |  |  |  | 7,713,870 |  |  |  | (6.21 | )
Cemig D |  |  |  |  |  |  |  |  |  |  |  |
Total debt |  |  | 5,764,639 |  |  |  | 6,263,408 |  |  |  | (7.96 | )
Net debt |  |  | 5,279,221 |  |  |  | 5,347,136 |  |  |  | (1.27 | )
Gasmig |  |  |  |  |  |  |  |  |  |  |  |
Total debt |  |  | 259,468 |  |  |  | 274,916 |  |  |  | (5.62 | )
Net debt |  |  | 42,786 |  |  |  | 180,323 |  |  |  | (76.27 | )

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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RESULTS SEPARATED BY BUSINESS SEGMENT

|  | INFORMATION BY SEGMENT ON JUNE 30, 2019 |
DESCRIPTION |  | ELECTRICITY |  |  | GAS |  |  | OTHER |  |  | ELIMINATIONS |  |  | TOTAL |
| GENERATION |  |  | TRANSMISSION |  |  | DISTRIBUTION |
ASSETS OF THE SEGMENT |  |  | 15,266,259 |  |  |  | 4,005,523 |  |  |  | 40,919,551 |  |  |  | 1,932,781 |  |  |  | 3,011,465 |  |  |  | 420,404 |  |  |  | 65,555,983 |
INVESTMENT IN AFFILIATES AND JOINTLY-CONTROLLED ENTITIES |  |  | 4,040,361 |  |  |  | 1,229,890 |  |  |  | — |  |  |  | — |  |  |  | 16,095 |  |  |  | — |  |  |  | 5,286,346 |
ADDITIONS TO THE SEGMENT |  |  | 36,374 |  |  |  | — |  |  |  | 16,115 |  |  |  | 328 |  |  |  | — |  |  |  | — |  |  |  | 52,817 |
ADDITIONS TO FINANCIAL ASSETS |  |  | — |  |  |  | 82,989 |  |  |  | 347,052 |  |  |  | 19,069 |  |  |  | — |  |  |  | — |  |  |  | 449,110 |
GOING CONCERN OPERATIONS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
NET REVENUE |  |  | 3,804,889 |  |  |  | 329,457 |  |  |  | 7,785,779 |  |  |  | 902,123 |  |  |  | 254,645 |  |  |  | (146,922 | ) |  |  | 12,929,971 |
COST OF ELECTRICITY AND GAS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electricity purchased for resale |  |  | (1,699,161 | ) |  |  | — |  |  |  | (3,455,727 | ) |  |  | — |  |  |  | — |  |  |  | 34,688 |  |  |  | (5,120,200 | )
Charges for use of the national grid |  |  | (92,252 | ) |  |  | — |  |  |  | (713,263 | ) |  |  | — |  |  |  | — |  |  |  | 104,344 |  |  |  | (701,171 | )
Gas bought for resale |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (725,162 | ) |  |  | — |  |  |  | — |  |  |  | (725,162 | )
Total |  |  | (1,791,413 | ) |  |  | — |  |  |  | (4,168,990 | ) |  |  | (725,162 | ) |  |  | — |  |  |  | 139,032 |  |  |  | (6,546,533 | )
OPERATING COSTS AND EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personnel |  |  | (108,721 | ) |  |  | (60,092 | ) |  |  | (463,651 | ) |  |  | (23,130 | ) |  |  | (21,478 | ) |  |  | — |  |  |  | (677,072 | )
Employees’ and managers’ profit shares |  |  | (24,743 | ) |  |  | (17,588 | ) |  |  | (120,976 | ) |  |  | — |  |  |  | (11,208 | ) |  |  | — |  |  |  | (174,515 | )
Post-retirement obligations |  |  | (24,447 | ) |  |  | (18,184 | ) |  |  | (134,323 | ) |  |  | — |  |  |  | (21,745 | ) |  |  | — |  |  |  | (198,699 | )
Materials |  |  | (8,022 | ) |  |  | (2,135 | ) |  |  | (29,102 | ) |  |  | (907 | ) |  |  | (103 | ) |  |  | 13 |  |  |  | (40,256 | )
Outsourced services |  |  | (58,556 | ) |  |  | (20,422 | ) |  |  | (486,762 | ) |  |  | (9,265 | ) |  |  | (13,823 | ) |  |  | 2,859 |  |  |  | (585,969 | )
Depreciation and amortization |  |  | (111,236 | ) |  |  | (2,699 | ) |  |  | (325,019 | ) |  |  | (37,921 | ) |  |  | (2,424 | ) |  |  | — |  |  |  | (479,299 | )
Operational provisions (reversals) |  |  | (733,237 | ) |  |  | (9,781 | ) |  |  | (194,748 | ) |  |  | (1,520 | ) |  |  | (39,093 | ) |  |  | — |  |  |  | (978,379 | )
Construction costs |  |  | — |  |  |  | (82,989 | ) |  |  | (363,167 | ) |  |  | (19,069 | ) |  |  | — |  |  |  | — |  |  |  | (465,225 | )
Other operational expenses net |  |  | (10,615 | ) |  |  | (7,550 | ) |  |  | (81,049 | ) |  |  | (4,582 | ) |  |  | 4,924 |  |  |  | 5,018 |  |  |  | (93,854 | )
Total cost of operation |  |  | (1,079,577 | ) |  |  | (221,440 | ) |  |  | (2,198,797 | ) |  |  | (96,394 | ) |  |  | (104,950 | ) |  |  | 7,890 |  |  |  | (3,693,268 | )
OPERATING COSTS AND EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | (2,870,990 | ) |  |  | (221,440 | ) |  |  | (6,367,787 | ) |  |  | (821,556 | ) |  |  | (104,950 | ) |  |  | 146,922 |  |  |  | (10,239,801 | )
OPERATING COSTS AND EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 3,347 |  |  |  | 100,567 |  |  |  | — |  |  |  | — |  |  |  | (414 | ) |  |  | — |  |  |  | 103,500 |
Share of profit (loss) in associates and joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 937,246 |  |  |  | 208,584 |  |  |  | 1,417,992 |  |  |  | 80,567 |  |  |  | 149,281 |  |  |  | — |  |  |  | 2,793,670 |
OPER. PROFIT BEFORE FIN. REV. (EXP.) AND TAXES |  |  | 946,898 |  |  |  | 65,550 |  |  |  | 1,250,669 |  |  |  | 50,880 |  |  |  | 308,991 |  |  |  | — |  |  |  | 2,622,988 |
Financial revenues |  |  | (409,417 | ) |  |  | (45,928 | ) |  |  | (329,796 | ) |  |  | (12,320 | ) |  |  | (18,500 | ) |  |  | — |  |  |  | (815,961 | )
Financial expenses |  |  | 1,474,727 |  |  |  | 228,206 |  |  |  | 2,338,865 |  |  |  | 119,127 |  |  |  | 439,772 |  |  |  | — |  |  |  | 4,600,697 |
PRE-TAX PROFIT |  |  | (680,745 | ) |  |  | (59,037 | ) |  |  | (771,698 | ) |  |  | (39,593 | ) |  |  | (137,399 | ) |  |  | — |  |  |  | (1,688,472 | )
Net profit |  |  | 793,982 |  |  |  | 169,169 |  |  |  | 1,567,167 |  |  |  | 79,534 |  |  |  | 302,373 |  |  |  | — |  |  |  | 2,912,225 |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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APPENDICES

CAPEX

R$ ’000 |  | 2019 Realized |  |  | 2019 Proposed |
GENERATION |  |  | 49,294 |  |  |  | 76,245 |
Investment program |  |  | 12,500 |  |  |  | 28,621 |
Capital contributions |  |  |  |  |  |  |  |
Aliança Norte |  |  | 953 |  |  |  | 953 |
SPC – Guanhães |  |  | 19,766 |  |  |  | 19,766 |
SPC – Amazônia Energia Participações (Belo Monte) |  |  | 75 |  |  |  | 282 |
Itaocara Hydroelectric Plant |  |  | — |  |  |  | 26,583 |
Baguari Energia |  |  | — |  |  |  | 40 |
Acquisitions of wind farms in Ceará |  |  | 16,000 |  |  |  | — |
TRANSMISSION |  |  | 82,975 |  |  |  | 263,352 |
Investment program |  |  | 82,975 |  |  |  | 263,352 |
Cemig D |  |  | 402,927 |  |  |  | 1,078,417 |
Investment program |  |  | 402,927 |  |  |  | 1,078,417 |
Holding company |  |  | 18,297 |  |  |  | 97,787 |
Infrastructure |  |  | — |  |  |  | 240 |
Capital contributions |  |  |  |  |  |  |  |
Axxiom |  |  | 5,765 |  |  |  | 10,000 |
Cemig GD (Distributed Generation) |  |  | 10,337 |  |  |  | 60,337 |
Cemig Overseas |  |  | 37 |  |  |  | 46 |
Gas consortia |  |  | — |  |  |  | 19 |
Efficientia – Distributed generation |  |  | — |  |  |  | 25,000 |
Acquisitions – Centroeste |  |  | 2,158 |  |  |  | 2,158 |
TOTAL |  |  | 553,493 |  |  |  | 1,515,801 |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Sources and uses of electricity – billed market

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Generation transmission concessions:

Generation – Plants

Generation Power Plant |  | Cemig Group Company |  | Type of Power Plant |  | CEMIG´s Stake |  |  | Installed Capacity (MW) |  |  | Assured Power Level (avg. MW) |  |  | Expiration of Concession
Emborcação |  | CEMIG GT |  | Hydroelectric |  |  | 100,00% |  |  |  | 1.192,00 |  |  |  | 499,70 |  |  | Jul-25
Belo Monte |  | Norte |  | Hydroelectric |  |  | 12,91% |  |  |  | 976,52 |  |  |  | 589,93 |  |  | Aug-45
Santo Antônio |  | SAE |  | Hydroelectric |  |  | 15,51% |  |  |  | 553,44 |  |  |  | 439,45 |  |  | Jun-43
Nova Ponte |  | CEMIG GT |  | Hydroelectric |  |  | 100,00% |  |  |  | 510,00 |  |  |  | 270,10 |  |  | Jul-25
Irapé |  | CEMIG GT |  | Hydroelectric |  |  | 100,00% |  |  |  | 399,00 |  |  |  | 207,90 |  |  | Feb-35
Três Marias |  | CEMIG G. TRÊS MARIAS |  | Hydroelectric |  |  | 100,00% |  |  |  | 396,00 |  |  |  | 71,70 |  |  | Jan-46
Nilo Peçanha |  | Light Energia |  | SHP |  |  | 22,60% |  |  |  | 85,89 |  |  |  | 163,05 |  |  | Jun-26
Aimorés |  | ALIANÇA |  | Hydroelectric |  |  | 45,00% |  |  |  | 148,50 |  |  |  | 81,86 |  |  | Dec-35
Igarapé |  | CEMIG GT |  | Hydroelectric |  |  | 100,00% |  |  |  | 131,00 |  |  |  | 71,30 |  |  | Aug-24
Salto Grande |  | CEMIG G. SALTO GRANDE |  | Hydroelectric |  |  | 100,00% |  |  |  | 102,00 |  |  |  | 22,50 |  |  | Jan-46
Amador Aguiar I |  | ALIANÇA |  | Hydroelectric |  |  | 39,32% |  |  |  | 94,36 |  |  |  | 60,70 |  |  | Aug-36
Ilha dos Pombos |  | Light Energia |  | SHP |  |  | 22,60% |  |  |  | 91,46 |  |  |  | 53,41 |  |  | Jun-26
Queimado |  | CEMIG GT |  | Hydroelectric |  |  | 82,50% |  |  |  | 42,30 |  |  |  | 56,02 |  |  | Jan-33
Amador Aguiar II |  | ALIANÇA |  | Hydroelectric |  |  | 39,32% |  |  |  | 82,56 |  |  |  | 51,78 |  |  | Aug-36
Funil |  | ALIANÇA |  | Hydroelectric |  |  | 45,00% |  |  |  | 81,00 |  |  |  | 38,07 |  |  | Dec-35
Sá Carvalho |  | Sá Carvalho S.A |  | Hydroelectric |  |  | 100,00% |  |  |  | 78,00 |  |  |  | 56,10 |  |  | Dec-24
Fontes Nova |  | Light Energia |  | SHP |  |  | 22,60% |  |  |  | 29,83 |  |  |  | 48,28 |  |  | Jun-26
Rosal |  | Rosal Energia S. A |  | Hydroelectric |  |  | 100,00% |  |  |  | 55,00 |  |  |  | 29,10 |  |  | May-32
Itutinga |  | CEMIG G. ITUTINGA |  | Hydroelectric |  |  | 100,00% |  |  |  | 52,00 |  |  |  | 8,40 |  |  | Jan-46
Igarapava |  | ALIANÇA |  | Hydroelectric |  |  | 23,69% |  |  |  | 49,75 |  |  |  | 31,80 |  |  | Dec-28
Pereira Passos |  | Light Energia |  | SHP |  |  | 22,60% |  |  |  | 22,58 |  |  |  | 23,70 |  |  | Jun-26
Baguari |  | BAGUARI ENERGIA |  | Hydroelectric |  |  | 34,00% |  |  |  | 47,60 |  |  |  | 28,80 |  |  | Aug-41
Camargos |  | CEMIG G. CAMARGOS |  | Hydroelectric |  |  | 100,00% |  |  |  | 46,00 |  |  |  | 6,30 |  |  | Jan-46
Volta do Rio |  | CEMIG GT |  | Wind farm |  |  | 100,00% |  |  |  | 42,00 |  |  |  | 18,41 |  |  | Dec-31
Retiro Baixo |  | Retiro Baixo Energética SA |  | Hydroelectric |  |  | 49,90% |  |  |  | 40,92 |  |  |  | 18,26 |  |  | Aug-41
Porto Estrela |  | ALIANÇA |  | Hydroelectric |  |  | 30,00% |  |  |  | 33,60 |  |  |  | 18,54 |  |  | Jul-32
Praias de Parajuru |  | CEMIG GT |  | Wind farm |  |  | 100,00% |  |  |  | 28,80 |  |  |  | 8,39 |  |  | Sep-32
Santa Branca |  | Light Energia |  | SHP |  |  | 22,60% |  |  |  | 12,67 |  |  |  | 14,85 |  |  | Jun-26
Pai Joaquim |  | CEMIG PCH S.A |  | SHP |  |  | 100,00% |  |  |  | 23,00 |  |  |  | 13,91 |  |  | Apr-32
Piau |  | CEMIG G. SUL |  | SHP |  |  | 100,00% |  |  |  | 18,01 |  |  |  | 4,06 |  |  | Jan-46
Gafanhoto |  | CEMIG G. OESTE |  | SHP |  |  | 100,00% |  |  |  | 14,00 |  |  |  | 2,00 |  |  | Jan-46
Cachoeirão |  | Hidrelétrica Cachoeirão |  | SHP |  |  | 49,00% |  |  |  | 13,23 |  |  |  | 8,02 |  |  | Jul-30
Dores de Guanhães |  | Guahães Energia |  | SHP |  |  | 73,92% |  |  |  | 10,35 |  |  |  | 5,28 |  |  | Nov-32
Others |  | — |  | — |  |  | — |  |  |  | 241,15 |  |  |  | 113,17 |  |  | —
Total |  |  |  |  |  |  | — |  |  |  | 5.744,53 |  |  |  | 3.134,84 |  |  |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Permitted Annual Revenue (RAP) FOR 2019-2020:

( Aneel Ratifying Resolution (REH) 2565 of 2019 – for the 2019/2020 cycle )

RAP (Permitted Annual Revenue - Transmission ) - 2018/2019 cycle |
Annual Permitted Revenue (RAP) |  | RAP |  |  | % Cemig |  |  | Cemig |
Cemig GT |  |  | 704.516.559 |  |  |  | 100,00% |  |  |  | 704.516.559 |
Cemig GT |  |  | 678.468.095 |  |  |  | 100,00% |  |  |  | 678.468.095 |
Cemig Itajuba |  |  | 26.048.464 |  |  |  | 100,00% |  |  |  | 26.048.464 |
Centroeste |  |  | 19.527.260 |  |  |  | 51,00% |  |  |  | 9.958.903 |
Taesa |  |  | 2.601.459.469 |  |  |  | 21,68% |  |  |  | 563.996.413 |
Novatrans 2 |  |  | 292.844.092 |  |  |  |  |  |  |  | 63.488.599 |
TSN |  |  | 300.992.176 |  |  |  |  |  |  |  | 65.255.104 |
Munirah |  |  | 40.946.624 |  |  |  |  |  |  |  | 8.877.228 |
GTESA |  |  | 5.515.544 |  |  |  |  |  |  |  | 1.195.770 |
PATESA |  |  | 18.078.709 |  |  |  |  |  |  |  | 3.919.464 |
ETAU |  |  | 38.500.280 |  |  |  |  |  |  |  | 8.346.861 |
ETEO |  |  | 98.933.020 |  |  |  |  |  |  |  | 21.448.679 |
NTE |  |  | 86.286.553 |  |  |  |  |  |  |  | 18.706.925 |
STE |  |  | 48.636.153 |  |  |  |  |  |  |  | 10.544.318 |
ATE I |  |  | 167.264.727 |  |  |  |  |  |  |  | 36.262.993 |
ATE II |  |  | 258.668.882 |  |  |  |  |  |  |  | 56.079.414 |
EATE |  |  | 122.242.974 |  |  |  |  |  |  |  | 26.502.277 |
ETEP |  |  | 27.562.990 |  |  |  |  |  |  |  | 5.975.656 |
ENTE |  |  | 101.996.568 |  |  |  |  |  |  |  | 22.112.856 |
ECTE |  |  | 10.186.476 |  |  |  |  |  |  |  | 2.208.428 |
ERTE |  |  | 19.483.764 |  |  |  |  |  |  |  | 4.224.080 |
Lumitrans |  |  | 11.959.851 |  |  |  |  |  |  |  | 2.592.896 |
Transleste |  |  | 24.728.188 |  |  |  |  |  |  |  | 5.361.071 |
Transirapé |  |  | 20.073.621 |  |  |  |  |  |  |  | 4.351.961 |
Transudeste |  |  | 15.326.765 |  |  |  |  |  |  |  | 3.322.843 |
ATE III |  |  | 125.389.196 |  |  |  |  |  |  |  | 27.184.378 |
São Gotardo |  |  | 5.416.349 |  |  |  |  |  |  |  | 1.174.265 |
Mariana |  |  | 15.362.098 |  |  |  |  |  |  |  | 3.330.503 |
Miracema |  |  | 65.032.990 |  |  |  |  |  |  |  | 14.099.152 |
Janaúba |  |  | 194.059.383 |  |  |  |  |  |  |  | 42.072.074 |
Aimorés |  |  | 39.686.900 |  |  |  |  |  |  |  | 8.604.120 |
Paraguaçu |  |  | 59.239.231 |  |  |  |  |  |  |  | 12.843.065 |
Brasnorte |  |  | 24.355.953 |  |  |  |  |  |  |  | 5.280.371 |
STC |  |  | 18.932.098 |  |  |  |  |  |  |  | 4.104.479 |
EBTE |  |  | 34.360.035 |  |  |  |  |  |  |  | 7.449.256 |
ESDE |  |  | 7.046.946 |  |  |  |  |  |  |  | 1.527.778 |
ETSE |  |  | 4.026.515 |  |  |  |  |  |  |  | 872.948 |
ESTE |  |  | 56.088.981 |  |  |  |  |  |  |  | 12.160.091 |
Ivaí |  |  | 147.000.350 |  |  |  |  |  |  |  | 31.869.676 |
EDTE |  |  | 34.500.301 |  |  |  |  |  |  |  | 7.479.665 |
Sant’Ana |  |  | 60.734.185 |  |  |  |  |  |  |  | 13.167.171 |
Light |  |  | 10.181.318 |  |  |  | 22,58% |  |  |  | 2.298.942 |
RAP TOTAL CEMIG |  |  |  |  |  |  |  |  |  |  | 1.280.770.816 |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Cemig D Tables (R$ mn)

CEMIG D Market |
|  | (GWh) |  |  | GW |
Quarter |  | Captive Consumers |  |  | TUSD ENERGY(1) |  |  | T.E.D(2) |  |  | TUSD PICK(3) |
1Q17 |  |  | 6.249 |  |  |  | 4.274 |  |  |  | 10.523 |  |  |  | 30 |
2Q17 |  |  | 6.314 |  |  |  | 4.287 |  |  |  | 10.601 |  |  |  | 30 |
3Q17 |  |  | 6.232 |  |  |  | 4.586 |  |  |  | 10.817 |  |  |  | 31 |
4Q18 |  |  | 6.259 |  |  |  | 4.591 |  |  |  | 10.850 |  |  |  | 31 |
1Q18 |  |  | 6.213 |  |  |  | 4.637 |  |  |  | 10.850 |  |  |  | 31 |
2Q18 |  |  | 6.343 |  |  |  | 4.873 |  |  |  | 11.216 |  |  |  | 30 |
3Q18 |  |  | 6.309 |  |  |  | 4.870 |  |  |  | 11.179 |  |  |  | 30 |
4Q18 |  |  | 6.406 |  |  |  | 4.906 |  |  |  | 11.313 |  |  |  | 31 |
1Q19 |  |  | 6.529 |  |  |  | 4.760 |  |  |  | 11.289 |  |  |  | 33 |
2Q19 |  |  | 6.288 |  |  |  | 4.910 |  |  |  | 11.198 |  |  |  | 33 |

(1) | Refers to the quantity of electricity for calculation of the regulatory charges charged to free consumer clients (“Portion A”)

(2) | Total electricity distributed

(3) | Sum of the demand on which the TUSD is invoiced, according to demand contracted (“Portion B”).

Operating Revenues (R$ million) |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
Sales to end consumers |  |  | 4,653 |  |  |  | 4,890 |  |  |  | 4,085 |  |  |  | -4.85% |  |  |  | 13.90% |
Revenue from Use of Distribution Systems (the TUSD charge) |  |  | 640 |  |  |  | 636 |  |  |  | 445 |  |  |  | 0.63% |  |  |  | 43.82% |
CVA and Other financial components in tariff adjustment |  |  | -40 |  |  |  | 120 |  |  |  | 709 |  |  |  | -133.33% |  |  |  | -105.64% |
Construction revenue |  |  | 203 |  |  |  | 160 |  |  |  | 191 |  |  |  | 26.88% |  |  |  | 6.28% |
|  |  | 830 |  |  |  | 0 |  |  |  | 0 |  |  |  | — |  |  |  | — |
Others |  |  | 342 |  |  |  | 302 |  |  |  | 305 |  |  |  | 13.25% |  |  |  | 12.13% |
Subtotal |  |  | 6,628 |  |  |  | 6,108 |  |  |  | 5,735 |  |  |  | 8.51% |  |  |  | 15.57% |
Deductions |  |  | 2,393 |  |  |  | 2,558 |  |  |  | 2,191 |  |  |  | -6.45% |  |  |  | 9.22% |
Net Revenues |  |  | 4,235 |  |  |  | 3,550 |  |  |  | 3,544 |  |  |  | 19.30% |  |  |  | 19.50% |

Operating Expenses (R$ million) |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | Y oY |
Personnel |  |  | 216 |  |  |  | 248 |  |  |  | 235 |  |  |  | -12.90% |  |  |  | -8.09% |
Employees’ and managers’ profit sharing |  |  | 75 |  |  |  | 46 |  |  |  | -1 |  |  |  | 63.04% |  |  |  | — |
Forluz – Post-retirement obligations |  |  | 66 |  |  |  | 68 |  |  |  | 57 |  |  |  | -2.94% |  |  |  | 15.79% |
Materials |  |  | 15 |  |  |  | 15 |  |  |  | 14 |  |  |  | 0.00% |  |  |  | 7.14% |
Outsourced services |  |  | 247 |  |  |  | 239 |  |  |  | 212 |  |  |  | 3.35% |  |  |  | 16.51% |
Amortization |  |  | 163 |  |  |  | 162 |  |  |  | 147 |  |  |  | 0.62% |  |  |  | 10.88% |
Operating provisions |  |  | 136 |  |  |  | 59 |  |  |  | 64 |  |  |  | 130.51% |  |  |  | 112.50% |
Charges for Use of Basic Transmission Network |  |  | 374 |  |  |  | 339 |  |  |  | 410 |  |  |  | 10.32% |  |  |  | -8.78% |
Energy purchased for resale |  |  | 1,627 |  |  |  | 1,828 |  |  |  | 1,927 |  |  |  | -11.00% |  |  |  | -15.57% |
Construction Cost |  |  | 203 |  |  |  | 160 |  |  |  | 191 |  |  |  | 26.88% |  |  |  | 6.28% |
Other Expenses |  |  | 39 |  |  |  | 42 |  |  |  | 63 |  |  |  | -7.14% |  |  |  | -38.10% |
Total |  |  | 3,161 |  |  |  | 3,206 |  |  |  | 3,319 |  |  |  | -1.40% |  |  |  | -4.76% |

Statement of Results (R$ million) |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | Y oY |
Net Revenue |  |  | 4,235 |  |  |  | 3,550 |  |  |  | 3,544 |  |  |  | 19.30% |  |  |  | 19.50% |
Operating Expenses |  |  | 3,161 |  |  |  | 3,206 |  |  |  | 3,319 |  |  |  | -1.40% |  |  |  | -4.76% |
EBIT |  |  | 1,074 |  |  |  | 344 |  |  |  | 225 |  |  |  | 212.21% |  |  |  | 377.33% |
EBITDA |  |  | 1,237 |  |  |  | 506 |  |  |  | 372 |  |  |  | 144.47% |  |  |  | 232.53% |
Financial Result |  |  | 975 |  |  |  | -55 |  |  |  | -60 |  |  |  | — |  |  |  | — |
Provision for Income Taxes, Social Cont & Deferred Income Tax |  |  | -671 |  |  |  | -101 |  |  |  | -53 |  |  |  | 564.36% |  |  |  | 1166.04% |
Net Income |  |  | 1,378 |  |  |  | 188 |  |  |  | 112 |  |  |  | 632.98% |  |  |  | 1130.36% |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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Cemig GT tables (R$ mn)

Operating Revenues |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
Sales to end consumers |  |  | 996 |  |  |  | 953 |  |  |  | 1012 |  |  |  | 4.5% |  |  |  | -1.6% |
Supply |  |  | 697 |  |  |  | 834 |  |  |  | 703 |  |  |  | -16.4% |  |  |  | -0.9% |
Revenues from Trans. Network |  |  | 173 |  |  |  | 163 |  |  |  | 151 |  |  |  | 6.1% |  |  |  | 14.6% |
Gain on monetary updating of Concession Grant Fee |  |  | 95 |  |  |  | 81 |  |  |  | 75 |  |  |  | 17.3% |  |  |  | 26.7% |
Transactions in the CCEE |  |  | 145 |  |  |  | 259 |  |  |  | 32 |  |  |  | -44.0% |  |  |  | 353.1% |
Construction revenue |  |  | 55 |  |  |  | 28 |  |  |  | 4 |  |  |  | 96.4% |  |  |  | 1275.0% |
Transmission indemnity revenue |  |  | 58 |  |  |  | 32 |  |  |  | 97 |  |  |  | 81.3% |  |  |  | -40.2% |
Generation indemnity revenue |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | — |  |  |  | — |
Pis/Pasep e Cofins sobre ICMS |  |  | 424 |  |  |  | — |  |  |  | — |  |  |  | 100.0% |  |  |  | 100.0% |
Others |  |  | 46 |  |  |  | 54 |  |  |  | 14 |  |  |  | -14.8% |  |  |  | 228.6% |
Subtotal |  |  | 2,689 |  |  |  | 2,404 |  |  |  | 2,105 |  |  |  | 11.9% |  |  |  | 27.7% |
Deductions |  |  | 447 |  |  |  | 449 |  |  |  | 392 |  |  |  | -0.4% |  |  |  | 14.0% |
Net Revenues |  |  | 2,242 |  |  |  | 1,955 |  |  |  | 1,713 |  |  |  | 14.7% |  |  |  | 30.9% |

Operating Expenses |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | 2T/1T |  |  | 2T/2T |
Personnel |  |  | 77 |  |  |  | 91 |  |  |  | 85 |  |  |  | -15.4% |  |  |  | -9.4% |
Employees’ and managers’ profit sharing |  |  | 27 |  |  |  | 15 |  |  |  | 0 |  |  |  | 80.0% |  |  |  | 100.0% |
Forluz – Post-retirement obligations |  |  | 21 |  |  |  | 21 |  |  |  | 18 |  |  |  | 0.0% |  |  |  | 16.7% |
Materials |  |  | 5 |  |  |  | 5 |  |  |  | 3 |  |  |  | 0.0% |  |  |  | 66.7% |
Outsourced services |  |  | 44 |  |  |  | 34 |  |  |  | 35 |  |  |  | 29.4% |  |  |  | 25.7% |
Depreciation and Amortization |  |  | 67 |  |  |  | 47 |  |  |  | 37 |  |  |  | 42.6% |  |  |  | 81.1% |
Operating provisions |  |  | 713 |  |  |  | 30 |  |  |  | 30 |  |  |  | 2276.7% |  |  |  | 2276.7% |
Charges for Use of Basic Transmission Network |  |  | 46 |  |  |  | 46 |  |  |  | 56 |  |  |  | 0.0% |  |  |  | -17.9% |
Energy purchased for resale |  |  | 916 |  |  |  | 783 |  |  |  | 897 |  |  |  | 17.0% |  |  |  | 2.1% |
Construction Cost |  |  | 55 |  |  |  | 28 |  |  |  | 4 |  |  |  | 96.4% |  |  |  | 1275.0% |
Other Expenses |  |  | 11 |  |  |  | 9 |  |  |  | 18 |  |  |  | 22.22% |  |  |  | -38.9% |
Total |  |  | 1,982 |  |  |  | 1,109 |  |  |  | 1,183 |  |  |  | 78.7% |  |  |  | 67.5% |

Sta tement of Results |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
Net Revenue |  |  | 2242 |  |  |  | 1955 |  |  |  | 1713 |  |  |  | 14.7% |  |  |  | 30.9% |
Operating Expenses |  |  | 1982 |  |  |  | 1109 |  |  |  | 1183 |  |  |  | 78.7% |  |  |  | 67.5% |
EBIT |  |  | 260 |  |  |  | 846 |  |  |  | 530 |  |  |  | -69.3% |  |  |  | -50.9% |
Equity gain in subsidiaries |  |  | -28 |  |  |  | 37 |  |  |  | -109 |  |  |  | — |  |  |  | -74.3% |
EBITDA |  |  | 299 |  |  |  | 930 |  |  |  | 458 |  |  |  | -67.8% |  |  |  | -34.7% |
Financial Result |  |  | 624 |  |  |  | -65 |  |  |  | -650 |  |  |  | — |  |  |  | — |
Provision for Income Taxes, Social Cont & Deferred Income Tax |  |  | -514 |  |  |  | -234 |  |  |  | 49 |  |  |  | 119.7% |  |  |  | -1149.0% |
Net Income |  |  | 342 |  |  |  | 584 |  |  |  | -180 |  |  |  | -41.4% |  |  |  | — |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

46

##### Table of Contents

Tables – Cemig Consolidated (R$ mn)

Energy Sales (Consolidated)(GWh) |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
Residential |  |  | 2,547 |  |  |  | 2,744 |  |  |  | 2,558 |  |  |  | -7.18% |  |  |  | -0.43% |
Industrial |  |  | 3,947 |  |  |  | 3,872 |  |  |  | 4,525 |  |  |  | 1.94% |  |  |  | -12.77% |
Commercial |  |  | 2,375 |  |  |  | 2,279 |  |  |  | 2,155 |  |  |  | 4.21% |  |  |  | 10.21% |
Rural |  |  | 915 |  |  |  | 860 |  |  |  | 955 |  |  |  | 6.40% |  |  |  | -4.19% |
Others |  |  | 906 |  |  |  | 916 |  |  |  | 897 |  |  |  | -1.09% |  |  |  | 1.00% |
Subtotal |  |  | 10,690 |  |  |  | 10,671 |  |  |  | 11,090 |  |  |  | 0.18% |  |  |  | -3.61% |
Own Consumption |  |  | 7 |  |  |  | 10 |  |  |  | 11 |  |  |  | -30.00% |  |  |  | -36.36% |
Supply |  |  | 2,422 |  |  |  | 3,077 |  |  |  | 2,975 |  |  |  | -21.29% |  |  |  | -18.59% |
TOTAL |  |  | 13,119 |  |  |  | 13,758 |  |  |  | 14,076 |  |  |  | -4.64% |  |  |  | -6.80% |

Energy Sales |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
Residential |  |  | 2,207 |  |  |  | 2,458 |  |  |  | 1,948 |  |  |  | -10.21% |  |  |  | 13.30% |
Industrial |  |  | 1,155 |  |  |  | 1,140 |  |  |  | 1,149 |  |  |  | 1.32% |  |  |  | 0.52% |
Commercial |  |  | 1,281 |  |  |  | 1,339 |  |  |  | 1,075 |  |  |  | -4.33% |  |  |  | 19.16% |
Rural |  |  | 461 |  |  |  | 457 |  |  |  | 405 |  |  |  | 0.88% |  |  |  | 13.83% |
Others |  |  | 465 |  |  |  | 472 |  |  |  | 400 |  |  |  | -1.48% |  |  |  | 16.25% |
Electricity sold to final consumers |  |  | 5,569 |  |  |  | 5,866 |  |  |  | 4,977 |  |  |  | -5.06% |  |  |  | 11.89% |
Unbilled Supply, Net |  |  | 119 |  |  |  | -82 |  |  |  | 93 |  |  |  | — |  |  |  | 27.96% |
Supply |  |  | 642 |  |  |  | 817 |  |  |  | 767 |  |  |  | -21.42% |  |  |  | -16.30% |
TOTAL |  |  | 6,330 |  |  |  | 6,601 |  |  |  | 5,837 |  |  |  | -4.11% |  |  |  | 8.45% |

Operating Revenues |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
Sales to end consumers |  |  | 5,648 |  |  |  | 5,841 |  |  |  | 5,109 |  |  |  | -3.30% |  |  |  | 10.55% |
TUSD |  |  | 636 |  |  |  | 630 |  |  |  | 441 |  |  |  | 0.95% |  |  |  | 44.22% |
CVA and Other financial components in tariff adjustment |  |  | -40 |  |  |  | 120 |  |  |  | 710 |  |  |  | -133.33% |  |  |  | -105.63% |
Transmission concession revenue |  |  | 126 |  |  |  | 117 |  |  |  | 106 |  |  |  | 7.69% |  |  |  | 18.87% |
Transmission Indemnity Revenue |  |  | 58 |  |  |  | 32 |  |  |  | 97 |  |  |  | 81.25% |  |  |  | -40.21% |
Generation Indemnity Revenue |  |  | 0 |  |  |  | 0 |  |  |  | 17 |  |  |  | — |  |  |  | — |
Gain on monetary updating of Concession Grant Fee |  |  | 95 |  |  |  | 80 |  |  |  | 75 |  |  |  | 18.75% |  |  |  | 26.67% |
Transactions in the CCEE |  |  | 145 |  |  |  | 253 |  |  |  | 26 |  |  |  | -42.69% |  |  |  | 457.69% |
Supply |  |  | 642 |  |  |  | 817 |  |  |  | 767 |  |  |  | -21.42% |  |  |  | -16.30% |
Gas supply |  |  | 535 |  |  |  | 596 |  |  |  | 471 |  |  |  | -10.23% |  |  |  | 13.59% |
Construction revenue |  |  | 266 |  |  |  | 199 |  |  |  | 206 |  |  |  | 33.67% |  |  |  | 29.13% |
Others |  |  | 424 |  |  |  | 369 |  |  |  | 265 |  |  |  | 14.91% |  |  |  | 60.00% |
Subtotal |  |  | 9,973 |  |  |  | 9,054 |  |  |  | 8,290 |  |  |  | 10.15% |  |  |  | 20.30% |
Deductions |  |  | 2,956 |  |  |  | 3,141 |  |  |  | 2,683 |  |  |  | -5.89% |  |  |  | 10.18% |
Net Revenues |  |  | 7,017 |  |  |  | 5,913 |  |  |  | 5,607 |  |  |  | 18.67% |  |  |  | 25.15% |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

47

##### Table of Contents

Operating Expenses |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
Personnel |  |  | 312 |  |  |  | 365 |  |  |  | 349 |  |  |  | -14.52% |  |  |  | -10.60% |
Employees’ and managers’ profit sharing |  |  | 108 |  |  |  | 66 |  |  |  | 3 |  |  |  | 63.64% |  |  |  | 3500.00% |
Forluz – Post-Retirement Employee Benefits |  |  | 98 |  |  |  | 101 |  |  |  | 86 |  |  |  | -2.97% |  |  |  | 13.95% |
Materials |  |  | 20 |  |  |  | 20 |  |  |  | 18 |  |  |  | 0.00% |  |  |  | 11.11% |
Outsourced services |  |  | 302 |  |  |  | 284 |  |  |  | 255 |  |  |  | 6.34% |  |  |  | 18.43% |
Energy purchased for resale |  |  | 2,526 |  |  |  | 2,594 |  |  |  | 2,819 |  |  |  | -2.62% |  |  |  | -10.39% |
Depreciation and Amortization |  |  | 248 |  |  |  | 231 |  |  |  | 198 |  |  |  | 7.36% |  |  |  | 25.25% |
Operating Provisions |  |  | 869 |  |  |  | 109 |  |  |  | 134 |  |  |  | 697.25% |  |  |  | 548.51% |
Charges for use of the national grid |  |  | 368 |  |  |  | 334 |  |  |  | 416 |  |  |  | 10.18% |  |  |  | -11.54% |
Gas bought for resale |  |  | 330 |  |  |  | 395 |  |  |  | 293 |  |  |  | -16.46% |  |  |  | 12.63% |
Construction costs |  |  | 266 |  |  |  | 199 |  |  |  | 203 |  |  |  | 33.67% |  |  |  | 31.03% |
Other Expenses |  |  | 42 |  |  |  | 52 |  |  |  | 85 |  |  |  | -19.23% |  |  |  | -50.59% |
Total |  |  | 5,489 |  |  |  | 4,750 |  |  |  | 4,859 |  |  |  | 15.56% |  |  |  | 12.97% |

Financial Result Breakdown |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
FINANCE INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income from cash investments |  |  | 26 |  |  |  | 25 |  |  |  | 18 |  |  |  | 4.00% |  |  |  | 44.44% |
Arrears fees on sale of energy |  |  | 96 |  |  |  | 87 |  |  |  | 92 |  |  |  | 10.34% |  |  |  | 4.35% |
Monetary variations – CVA |  |  | 32 |  |  |  | 21 |  |  |  | 11 |  |  |  | 52.38% |  |  |  |  |
Monetary updating on Court escrow deposits |  |  | 13 |  |  |  | 7 |  |  |  | 9 |  |  |  | 85.71% |  |  |  | 44.44% |
Pasep and Cofins charged on finance income |  |  | -41 |  |  |  | -9 |  |  |  | -11 |  |  |  | 355.56% |  |  |  | 272.73% |
Gain on Financial instruments—Swap |  |  | 461 |  |  |  | 152 |  |  |  | 83 |  |  |  | 0.00% |  |  |  | 455.42% |
Updating of the tax credits in PIS, Pasep and Cofins taxes |  |  | 1,553 |  |  |  | 0 |  |  |  | 0 |  |  |  | — |  |  |  | — |
Liabilities with related parties |  |  | 23 |  |  |  | 23 |  |  |  | 17 |  |  |  | 0.00% |  |  |  |  |
Others |  |  | 109 |  |  |  | 45 |  |  |  | 30 |  |  |  | 142.22% |  |  |  | 263.33% |
|  |  | 2,272 |  |  |  | 351 |  |  |  | 249 |  |  |  | 547.29% |  |  |  | 812.45% |
FINANCE EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of loans and financings |  |  | 303 |  |  |  | 303 |  |  |  | 316 |  |  |  | 0.00% |  |  |  | -4.11% |
Foreign exchange variations |  |  | -33 |  |  |  | 32 |  |  |  | 538 |  |  |  | -203.13% |  |  |  | 0.00% |
Monetary updating – loans and financings |  |  | 39 |  |  |  | 44 |  |  |  | 27 |  |  |  | -11.36% |  |  |  | 44.44% |
Charges and monetary updating on post-retirement obligation |  |  | 18 |  |  |  | 15 |  |  |  | 15 |  |  |  | 20.00% |  |  |  | 20.00% |
Others |  |  | 37 |  |  |  | 58 |  |  |  | 50 |  |  |  | -36.21% |  |  |  | -26.00% |
|  |  | 364 |  |  |  | 452 |  |  |  | 946 |  |  |  | -19.47% |  |  |  | -61.52% |
NET FINANCE INCOME (EXPENSES) |  |  | 1,908 |  |  |  | -101 |  |  |  | -697 |  |  |  | -1989.11% |  |  |  | 0.00% |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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##### Table of Contents

Statement of Results |  | 2Q19 |  |  | 1Q19 |  |  | 2Q18 |  |  | QoQ |  |  | YoY |
Net Revenue |  |  | 7,017 |  |  |  | 5,913 |  |  |  | 5,607 |  |  |  | 18.67% |  |  |  | 25.15% |
Operating Expenses |  |  | 5,489 |  |  |  | 4,750 |  |  |  | 4,859 |  |  |  | 15.56% |  |  |  | 12.97% |
EBIT |  |  | 1,528 |  |  |  | 1,163 |  |  |  | 748 |  |  |  | 31.38% |  |  |  | 104.28% |
Share of profit (loss) in associates and joint ventures |  |  | 36 |  |  |  | 67 |  |  |  | -83 |  |  |  | -46.27% |  |  |  | -143.37% |
EBITDA |  |  | 1,812 |  |  |  | 1,461 |  |  |  | 883 |  |  |  | 24.02% |  |  |  | 105.21% |
Financial Result |  |  | 1,908 |  |  |  | -101 |  |  |  | -697 |  |  |  | — |  |  |  | — |
Provision for Income Taxes, Social Cont & Deferred Income Tax |  |  | -1,357 |  |  |  | -332 |  |  |  | 1 |  |  |  | 308.73% |  |  |  | — |
Net profit for the period attributable to equity holders of the parent |  |  | 2,115 |  |  |  | 797 |  |  |  | -31 |  |  |  | 165.37% |  |  |  | — |
Net profit for the period attributable to non-controlling interests |  |  | 0 |  |  |  | 0 |  |  |  | 21 |  |  |  | 0.00% |  |  |  | 0.00% |
NET PROFIT FOR THE YEAR |  |  | 2,115 |  |  |  | 797 |  |  |  | -10 |  |  |  | 165.37% |  |  |  | — |

Cash Flow Statement |  | 1H19 |  |  | 1H18 |
Cash at beginning of period |  |  | 891 |  |  |  | 1,030 |
Cash generated by operations |  |  | 1,083 |  |  |  | -9 |
Net income for the period from going concern operations |  |  | 2,912 |  |  |  | 432 |
Current and deferred income tax and Social Contribution tax |  |  | 410 |  |  |  | -26 |
Depreciation and amortization |  |  | 479 |  |  |  | 411 |
CVA and other financial components |  |  | 3 |  |  |  | -870 |
Equity gain (loss) in subsidiaries |  |  | -104 |  |  |  | 26 |
Provisions (reversals) for operational losses |  |  | 978 |  |  |  | 267 |
Dividends received from equity holdings |  |  | 127 |  |  |  | 197 |
Interest and monetary variation |  |  | 590 |  |  |  | 630 |
Interest paid on loans and financings |  |  | -707 |  |  |  | -672 |
credits of taxes awarded in the ICMS tax case |  |  | -2,963 |  |  |  | 0 |
Others |  |  | -644 |  |  |  | -406 |
Financing activities |  |  | -960 |  |  |  | -270 |
Lease payments |  |  | -31 |  |  |  | 0 |
Payments of loans and financings |  |  | -850 |  |  |  | -775 |
Financings obtained and capital increase |  |  | 0 |  |  |  | 396 |
Interest on Equity, and dividends |  |  | -79 |  |  |  | 0 |
Capital Increase / Subscription of shares to be capitalized |  |  | 0 |  |  |  | 110 |
Investment activity |  |  | -266 |  |  |  | 189 |
Securities—Financial Investment |  |  | 140 |  |  |  | 739 |
Contract assets—Distribution and gas infrastructure |  |  | -361 |  |  |  | -369 |
Financial assets |  |  | -1 |  |  |  | -150 |
Fixed and Intangible assets |  |  | -44 |  |  |  | -31 |
Cash at end of period |  |  | 749 |  |  |  | 941 |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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##### Table of Contents

BALANCE SHEETS (CONSOLIDATED)—ASSETS |  | 1H19 |  |  | 2018 |
CURRENT |  |  | 27.617 |  |  |  | 27.796 |
Cash and cash equivalents |  |  | 749 |  |  |  | 891 |
Securities |  |  | 666 |  |  |  | 704 |
Consumers and traders |  |  | 4.499 |  |  |  | 4.092 |
Financial assets of the concession |  |  | 1.240 |  |  |  | 1.070 |
Contractual assets |  |  | 132 |  |  |  | 131 |
Tax offsetable |  |  | 99 |  |  |  | 124 |
Income tax and Social Contribution tax recoverable |  |  | 8 |  |  |  | 387 |
Dividends receivable |  |  | 45 |  |  |  | 120 |
Restricted cash |  |  | 101 |  |  |  | 91 |
Inventories |  |  | 34 |  |  |  | 35 |
Advances to suppliers |  |  | 30 |  |  |  | 7 |
Refund tariff subsidies |  |  | 96 |  |  |  | 30 |
Low Income Subsidy |  |  | 28 |  |  |  | 69 |
Derivative financial instruments – Swaps |  |  | 115 |  |  |  | 508 |
Other credits |  |  | 399 |  |  |  | 19.446 |
Assets classified as held for sale |  |  | 19.376 |  |  |  | 32.058 |
NON-CURRENT |  |  | 37.939 |  |  |  | 109 |
Securities |  |  | 12 |  |  |  | 109 |
Consumers and traders |  |  | 85 |  |  |  | 81 |
Tax offsetable |  |  | 6.236 |  |  |  | 242 |
Income tax and Social Contribution tax recoverable |  |  | 2 |  |  |  | 6 |
Deferred income tax and Social Contribution tax |  |  | 1.898 |  |  |  | 2.147 |
Escrow deposits in legal actions |  |  | 2.488 |  |  |  | 2.502 |
Derivative financial instruments – Swaps |  |  | 1.269 |  |  |  | 744 |
Other credits |  |  | 739 |  |  |  | 1.030 |
Financial assets of the concession |  |  | 4.910 |  |  |  | 4.927 |
Contractual assets |  |  | 1.692 |  |  |  | 1.598 |
Investments |  |  | 5.286 |  |  |  | 5.234 |
Property, plant and equipment |  |  | 2.603 |  |  |  | 2.661 |
Intangible assets |  |  | 10.719 |  |  |  | 10.777 |
TOTAL ASSETS |  |  | 65.556 |  |  |  | 59.854 |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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BALANCE SHEETS LIABILITIES AND SHAREHOLDERS’ EQUITY |  | 1H19 |  |  | 2018 |
CURRENT |  |  | 24,347 |  |  |  | 23,393 |
Suppliers |  |  | 1,841 |  |  |  | 1,801 |
Regulatory charges |  |  | 511 |  |  |  | 514 |
Profit sharing |  |  | 133 |  |  |  | 79 |
Taxes |  |  | 335 |  |  |  | 410 |
Income tax and Social Contribution tax |  |  | 542 |  |  |  | 112 |
Interest on Equity, and dividends, payable |  |  | 768 |  |  |  | 864 |
Loans and financings |  |  | 2,949 |  |  |  | 2,198 |
Payroll and related charges |  |  | 256 |  |  |  | 284 |
Post-retirement liabilities |  |  | 277 |  |  |  | 252 |
Other obligations |  |  | 573 |  |  |  | 607 |
Derivative financial instruments |  |  | 0 |  |  |  | 0 |
Liabilities classified as held for sale |  |  | 16,162 |  |  |  | 16,272 |
NON-CURRENT |  |  | 22,348 |  |  |  | 20,521 |
Regulatory charges |  |  | 164 |  |  |  | 178 |
Loans and financings |  |  | 10,927 |  |  |  | 12,574 |
Taxes |  |  | 31 |  |  |  | 29 |
Income tax and Social Contribution tax |  |  | 890 |  |  |  | 728 |
Provisions |  |  | 688 |  |  |  | 641 |
Post-retirement liabilities |  |  | 4,780 |  |  |  | 4,736 |
PASEP / COFINS to be returned to consumers |  |  | 4,110 |  |  |  | 1,124 |
Derivative financial instruments—options |  |  | 441 |  |  |  | 419 |
Leasing operations |  |  | 220 |  |  |  | 0 |
Others |  |  | 97 |  |  |  | 92 |
TOTAL EQUITY |  |  | 18,861 |  |  |  | 15,940 |
Share capital |  |  | 7,294 |  |  |  | 7,294 |
Capital reserves |  |  | 2,250 |  |  |  | 2,250 |
Profit reserves |  |  | 6,361 |  |  |  | 6,362 |
Equity valuation adjustments |  |  | -1,339 |  |  |  | -1,326 |
Subscription of shares, to be capitalized |  |  | 2,924 |  |  |  | 0 |
Non-Controlling Interests |  |  | 1,371 |  |  |  | 1,360 |
TOTAL LIABILITIES AND EQUITY |  |  | 65,556 |  |  |  | 59,854 |

Av. Barbacena 1200 – Santo Agostinho – 30190-131 – Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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8. PRESENTATION OF 2Q19 RESULTS

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RESULTSRESULTS

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Disclaimer Certain statements and estimates in this material may represent expectations about future events or results, which are subject to risks and uncertainties that may be known or unknown. There is no guarantee that the events or results will take place as referred to in these expectations. These expectations are based on the present assumptions and analyses from the point of view of our management, in accordance with their experience and other factors such as the macroeconomic environment, and market conditions in the electricity sector; and on our expectations for future results, many of which are not under our control. Important factors that could lead to significant differences between actual results and the projections about future events or results include our business strategy, Brazilian and international economic conditions, technology, our financial strategy, changes in the electricity sector, hydrological conditions, conditions in the financial and energy markets, uncertainty on our results from future operations, plans and objectives, and other factors. Because of these and other factors, our real results may differ significantly from those indicated in or implied by such statements. The information and opinions herein should not be understood as a recommendation to potential investors, and no investment decision should be based onthe veracity, currentness or completeness of this information or these opinions. None of our professionals nor any of their related parties or representatives shall have any liability for any losses that may result from the use of the content of this presentation. To evaluate the risks and uncertainties as they relate to Cemig, and to obtain additional information about factors that could give rise to different results from those estimated by Cemig, please consult the section on Risk Factors included in the Reference Form filed with the Brazilian Securities Commission (CVM) – and in the 20-F form filed with the U.S. Securities and Exchange Commission (SEC). In this material, financial amounts are in R$ million (R$ mn) unless otherwise stated. Financial data reflect the adoption of IFRS.Disclaimer Certain statements and estimates in this material may represent expectations about future events or results, which are subject to risks and uncertainties that may be known or unknown. There is no guarantee that the events or results will take place as referred to in these expectations. These expectations are based on the present assumptions and analyses from the point of view of our management, in accordance with their experience and other factors such as the macroeconomic environment, and market conditions in the electricity sector; and on our expectations for future results, many of which are not under our control. Important factors that could lead to significant differences between actual results and the projections about future events or results include our business strategy, Brazilian and international economic conditions, technology, our financial strategy, changes in the electricity sector, hydrological conditions, conditions in the financial and energy markets, uncertainty on our results from future operations, plans and objectives, and other factors. Because of these and other factors, our real results may differ significantly from those indicated in or implied by such statements. The information and opinions herein should not be understood as a recommendation to potential investors, and no investment decision should be based onthe veracity, currentness or completeness of this information or these opinions. None of our professionals nor any of their related parties or representatives shall have any liability for any losses that may result from the use of the content of this presentation. To evaluate the risks and uncertainties as they relate to Cemig, and to obtain additional information about factors that could give rise to different results from those estimated by Cemig, please consult the section on Risk Factors included in the Reference Form filed with the Brazilian Securities Commission (CVM) – and in the 20-F form filed with the U.S. Securities and Exchange Commission (SEC). In this material, financial amounts are in R$ million (R$ mn) unless otherwise stated. Financial data reflect the adoption of IFRS.

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HIGHLIGHTS ICMS case: Structural Management of Court confirms reorganization and debt portfolio tax credits operational efficiency initiatives Strong growth in Cemig GT – Execution of operational cash flow Auction to purchase Disinvestment (measured as Ebitda) renewable supply ProgramHIGHLIGHTS ICMS case: Structural Management of Court confirms reorganization and debt portfolio tax credits operational efficiency initiatives Strong growth in Cemig GT – Execution of operational cash flow Auction to purchase Disinvestment (measured as Ebitda) renewable supply Program

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Court confirms tax credits • On May 8, 2019 the Regional Federal Appeal Court of the First Region gave final judgment – against which there is no appeal – recognizing Cemig’s right to exclude amounts of ICMS (value-added) tax from the calculation base for Pasep and Cofins taxes, as from to 5 years prior to filing the case – i.e. backdated to July 2003. Other Pasep and Cofins credits Cemig H Cemig D Cemig GT Total investees Escrow deposits – 1,138 204 – 1,342 Taxes paid 484 4,833 640 26 5,983 Total 484 5,971 844 26 7,325 4,130 4,130 Maximum possible value of reimbursement to clients* Effects on statement of income Recovery of credits of PIS, Pasep and Cofins taxes 183 830 409 16 1,439 charged on amounts of ICMS tax Net financial income 297 991 226 10 1,524 Income tax and Social Contribution tax –163 –594 –212 –9 –978 317 1,227 423 17 1,984 ( * ) From the amount to be reimbursed to consumers, R$20 million will be deducted related to Pasep and Cofins. 4 R$ mnCourt confirms tax credits • On May 8, 2019 the Regional Federal Appeal Court of the First Region gave final judgment – against which there is no appeal – recognizing Cemig’s right to exclude amounts of ICMS (value-added) tax from the calculation base for Pasep and Cofins taxes, as from to 5 years prior to filing the case – i.e. backdated to July 2003. Other Pasep and Cofins credits Cemig H Cemig D Cemig GT Total investees Escrow deposits – 1,138 204 – 1,342 Taxes paid 484 4,833 640 26 5,983 Total 484 5,971 844 26 7,325 4,130 4,130 Maximum possible value of reimbursement to clients* Effects on statement of income Recovery of credits of PIS, Pasep and Cofins taxes 183 830 409 16 1,439 charged on amounts of ICMS tax Net financial income 297 991 226 10 1,524 Income tax and Social Contribution tax –163 –594 –212 –9 –978 317 1,227 423 17 1,984 ( * ) From the amount to be reimbursed to consumers, R$20 million will be deducted related to Pasep and Cofins. 4 R$ mn

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th Cemig D- 7 debenture issue • R$ 3.66 billion, in two series st ü 1 Series: maturity 5 years; total R$ 2.16 billion – pays interest at 0.454% p.a. above CDI Rate. nd ü 2 Series: maturity 7 years; total R$ 1.5 billion – pays 4.10% p.a. plus inflation correction by IPCA index. • Replaces more expensive debt ü Estimated average cost: reduced from 144.13% to 108.61% of CDI rate ü Increases average tenor of total debt of Cemig D – from 2.9 years to 5.1 years. Position on March 31, 2019 Average tenor: 2.9 years After re-profiling – July 2019 Average tenor: 5.1 years 1.171 794 776 565 565 700 909 282 565 282 - 700 463 480 - - 383 256 480 234 231 463 383 15 - - 256 234 231 2019 2020 2021 2022 2023 2024 2025 2026 - 15 - 2019 2020 2021 2022 2023 2024 2025 2026 5th Cemig D- 7 debenture issue • R$ 3.66 billion, in two series st ü 1 Series: maturity 5 years; total R$ 2.16 billion – pays interest at 0.454% p.a. above CDI Rate. nd ü 2 Series: maturity 7 years; total R$ 1.5 billion – pays 4.10% p.a. plus inflation correction by IPCA index. • Replaces more expensive debt ü Estimated average cost: reduced from 144.13% to 108.61% of CDI rate ü Increases average tenor of total debt of Cemig D – from 2.9 years to 5.1 years. Position on March 31, 2019 Average tenor: 2.9 years After re-profiling – July 2019 Average tenor: 5.1 years 1.171 794 776 565 565 700 909 282 565 282 - 700 463 480 - - 383 256 480 234 231 463 383 15 - - 256 234 231 2019 2020 2021 2022 2023 2024 2025 2026 - 15 - 2019 2020 2021 2022 2023 2024 2025 2026 5

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Auction to buy renewable supply Cemig offering to buy supply for delivery from year 2023 - Sep/19 • Cemig GT will hold Free Market auction to buy incentive-bearing solar or wind supply ü Contracts for delivery from 2023 for 19 years. • Bids accepted from companies: ü technically qualified by EPE* for any Aneel New Supply auction in 2018 or 2019, ü with share capital above R$ 500 million or installed capacity above 1GW. • The auctions of June and October 2018 were successful. ü In June, contracts for 431.5 MW average were acquired, and in October a total of 152.5 MW average ü – for delivery over 20 years, starting in 2022 * EPE – Brazilian government’s Energy Research Company (Empresa de Pesquisa Energética). 6Auction to buy renewable supply Cemig offering to buy supply for delivery from year 2023 - Sep/19 • Cemig GT will hold Free Market auction to buy incentive-bearing solar or wind supply ü Contracts for delivery from 2023 for 19 years. • Bids accepted from companies: ü technically qualified by EPE* for any Aneel New Supply auction in 2018 or 2019, ü with share capital above R$ 500 million or installed capacity above 1GW. • The auctions of June and October 2018 were successful. ü In June, contracts for 431.5 MW average were acquired, and in October a total of 152.5 MW average ü – for delivery over 20 years, starting in 2022 * EPE – Brazilian government’s Energy Research Company (Empresa de Pesquisa Energética). 6

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Sale of shares in Light • Cemig maintains commitment to execute Disinvestment Program ü R$625 mm ü Total of sale: 33,333,333 shares ü For price per share: R$ 18.75 • Stockholding structure after settlement of Restricted Offering – July 17, 2019: Others 22.6% 6.3% 71.1% 7Sale of shares in Light • Cemig maintains commitment to execute Disinvestment Program ü R$625 mm ü Total of sale: 33,333,333 shares ü For price per share: R$ 18.75 • Stockholding structure after settlement of Restricted Offering – July 17, 2019: Others 22.6% 6.3% 71.1% 7

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Capex Board has approved increase in Investment Plan of Cemig D • Additional execution of R$ 1.2 billion for the period 2020–22. • Purposes: ü accelerate modernization of Cemig D’s assets base, ü reduce costs of operation and maintenance, ü improve the company’s quality indicators, ü increase client satisfaction. June 2019 R$ mn Investment Components Plan 2019 2020 2021 2022 2023 TOTAL Cemig D funding (increased) 1,078 1,632 1,573 1,632 1,386 7,301 Cemig D Funding from clients 178 179 158 114 170 799 Total, Cemig D 1,257 1,811 1,730 1,746 1,556 8,100 Transmission (upgrades and improvements) 263 281 261 276 207 1,289 Generation (operation and maintenance) 30 96 183 117 23 450 Cemig GT Cash injections 46 89 135 Total, Cemig GT 340 466 444 393 230 1,873 Cemig investment, consolidated 1,596 2,277 2,174 2,139 1,786 9,973 Cemig’s other Investment Plans are unchanged. 8Capex Board has approved increase in Investment Plan of Cemig D • Additional execution of R$ 1.2 billion for the period 2020–22. • Purposes: ü accelerate modernization of Cemig D’s assets base, ü reduce costs of operation and maintenance, ü improve the company’s quality indicators, ü increase client satisfaction. June 2019 R$ mn Investment Components Plan 2019 2020 2021 2022 2023 TOTAL Cemig D funding (increased) 1,078 1,632 1,573 1,632 1,386 7,301 Cemig D Funding from clients 178 179 158 114 170 799 Total, Cemig D 1,257 1,811 1,730 1,746 1,556 8,100 Transmission (upgrades and improvements) 263 281 261 276 207 1,289 Generation (operation and maintenance) 30 96 183 117 23 450 Cemig GT Cash injections 46 89 135 Total, Cemig GT 340 466 444 393 230 1,873 Cemig investment, consolidated 1,596 2,277 2,174 2,139 1,786 9,973 Cemig’s other Investment Plans are unchanged. 8

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Results – Highlights • Revenue from sales on CCEE exchange (Cemig GT): up 148.5% in 1H19 ü In 1H19: – up R$ 237 mn from 1H18; ü In 2Q19: – up R$ 119 mn from 2Q18. ü CCEE credit – R$469 mn • Exclusion of ICMS tax from taxable base for PIS, Pasep and Cofins taxes ü Award in legal action: Tax credits totaling R$ 1,439 mn ü Financial income gain: R$ 1,524 mn • Provision for accounts receivable from Renova: R$ 688 mn • Equity income positive from non-consolidated investees • In 1H19: – up R$ 130 mn from 1H18; • In 2Q19: – up R$ 119 mn from 2Q18. 9Results – Highlights • Revenue from sales on CCEE exchange (Cemig GT): up 148.5% in 1H19 ü In 1H19: – up R$ 237 mn from 1H18; ü In 2Q19: – up R$ 119 mn from 2Q18. ü CCEE credit – R$469 mn • Exclusion of ICMS tax from taxable base for PIS, Pasep and Cofins taxes ü Award in legal action: Tax credits totaling R$ 1,439 mn ü Financial income gain: R$ 1,524 mn • Provision for accounts receivable from Renova: R$ 688 mn • Equity income positive from non-consolidated investees • In 1H19: – up R$ 130 mn from 1H18; • In 2Q19: – up R$ 119 mn from 2Q18. 9

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The electricity market of Cemig D In 2Q19 – GWh In 1H19 – GWh 0.2% Cemig D: billed market + transmission Cemig D: billed market + transmission 1.9% 83 71 16.9% 14.3% 160 140 908 913 0.5% 2.1% 11,215 22,066 11,198 22,488 1.838 1.800 957 918 1.782 4.1% 3.2% 1.727 1.588 1.623 2.20% 2.5% 3.311 3.231 4.873 4.910 0.8% 1.7% 9.670 9.510 0.4% 0.9% 5.133 5.113 10.106 10.017 0.9% 2.1% 6.342 6.288 12.556 12.818 0.4% 2.4% 2.558 2.548 5.151 5.292 2Q18 2Q19 1H18 1H19 2Q18 2Q19 1H18 1H19 Final consumers Final consumers Residential Industrial Commercial Residential Industrial Commercial Total energy carried Total energy carried Rural Other Distributors Rural Other Distributors 10The electricity market of Cemig D In 2Q19 – GWh In 1H19 – GWh 0.2% Cemig D: billed market + transmission Cemig D: billed market + transmission 1.9% 83 71 16.9% 14.3% 160 140 908 913 0.5% 2.1% 11,215 22,066 11,198 22,488 1.838 1.800 957 918 1.782 4.1% 3.2% 1.727 1.588 1.623 2.20% 2.5% 3.311 3.231 4.873 4.910 0.8% 1.7% 9.670 9.510 0.4% 0.9% 5.133 5.113 10.106 10.017 0.9% 2.1% 6.342 6.288 12.556 12.818 0.4% 2.4% 2.558 2.548 5.151 5.292 2Q18 2Q19 1H18 1H19 2Q18 2Q19 1H18 1H19 Final consumers Final consumers Residential Industrial Commercial Residential Industrial Commercial Total energy carried Total energy carried Rural Other Distributors Rural Other Distributors 10

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The electricity market of Cemig GT In 1H19 – GWh In 2Q19 – GWh 0.01% Market of Cemig GT 9.2% Market of Cemig GT 14,124 14,123 7,556 6,864 630 1.261 1.162 7.85% 10.79% 562 2.340 4.329 4.401 1.66% 1.892 19.15% 8.560 8.534 0.30% 4.586 3.84% 4.410 1H18 1H19 2Q18 2Q19 Free Clients Free Market Free Clients Free Market Regulated Market Regulated Market Free Market: Sales to traders and generators, and Free Market: Sales to traders and generators, and ‘bilateral’ contracts with other agents ‘bilateral’ contracts with other agents 11The electricity market of Cemig GT In 1H19 – GWh In 2Q19 – GWh 0.01% Market of Cemig GT 9.2% Market of Cemig GT 14,124 14,123 7,556 6,864 630 1.261 1.162 7.85% 10.79% 562 2.340 4.329 4.401 1.66% 1.892 19.15% 8.560 8.534 0.30% 4.586 3.84% 4.410 1H18 1H19 2Q18 2Q19 Free Clients Free Market Free Clients Free Market Regulated Market Regulated Market Free Market: Sales to traders and generators, and Free Market: Sales to traders and generators, and ‘bilateral’ contracts with other agents ‘bilateral’ contracts with other agents 11

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Net revenue - 2Q19 R$ mn Cemig D Cemig Consolidated Cemig GT 2Q19/2Q18 25.15% 2Q19/2Q18 19.50% 2Q19/2Q18 30.94% 2Q19 AJ/2Q18 0.52% 2Q19 AJ/2Q18 3.92% 2Q19 AJ/2Q18 6.19% 424 2.243 1439 7.017 830 4.235 1.819 3.544 5.607 5.578 3.405 1.713 2Q18 2Q19 ICMS tax 2Q19 2Q18 2Q19 ICMS tax 2Q19 2Q18 2Q19 ICMS tax 2Q19 Adjusted ruling Adjusted ruling Adjusted ruling 12Net revenue - 2Q19 R$ mn Cemig D Cemig Consolidated Cemig GT 2Q19/2Q18 25.15% 2Q19/2Q18 19.50% 2Q19/2Q18 30.94% 2Q19 AJ/2Q18 0.52% 2Q19 AJ/2Q18 3.92% 2Q19 AJ/2Q18 6.19% 424 2.243 1439 7.017 830 4.235 1.819 3.544 5.607 5.578 3.405 1.713 2Q18 2Q19 ICMS tax 2Q19 2Q18 2Q19 ICMS tax 2Q19 2Q18 2Q19 ICMS tax 2Q19 Adjusted ruling Adjusted ruling Adjusted ruling 12

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Net revenue – 1H19 R$ mn Cemig D Cemig Consolidated Cemig GT 1H19/1H18 22.65% 1H19/1H18 19.27% 1H19/1H18 28.14% 1H19 AJ/1H18 9.00% 1H19 AJ/1H18 6.56% 1H19 AJ/1H18 15.20% 1439 7.786 424 830 4.198 3.774 12.930 3.276 11.491 6.956 10.542 6.528 1H18 1H19 ICMS tax 1H19 1H18 1H19 ICMS tax 1H19 1H18 1H19 ICMS tax 1H19 Adjusted ruling Adjusted ruling Adjusted ruling 13Net revenue – 1H19 R$ mn Cemig D Cemig Consolidated Cemig GT 1H19/1H18 22.65% 1H19/1H18 19.27% 1H19/1H18 28.14% 1H19 AJ/1H18 9.00% 1H19 AJ/1H18 6.56% 1H19 AJ/1H18 15.20% 1439 7.786 424 830 4.198 3.774 12.930 3.276 11.491 6.956 10.542 6.528 1H18 1H19 ICMS tax 1H19 1H18 1H19 ICMS tax 1H19 1H18 1H19 ICMS tax 1H19 Adjusted ruling Adjusted ruling Adjusted ruling 13

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Operating costs and expenses R$ mn 12.96% 2Q18 to 2Q19 (1) 735 4.38% PMSO 13.05% 10,240 9,058 105 50 63 48 37 12 1 5.490 12.96% 2Q 4.860 (2) -48 -37 -43 -293 1Q 13.15% 4.750 4.198 1H18 1H19 1 - After making a credit risk assessment, Cemig recognized a loss of R$ 688 mn on accounts receivable from Renova. Provisions for employment-law legal actions were R$ 125 mn higher than in the same period of 2018. 2 - The difference mainly reflects the change in accounting for leasing and rentals – now under IFRS16 / CPC 06 (R2). 14Operating costs and expenses R$ mn 12.96% 2Q18 to 2Q19 (1) 735 4.38% PMSO 13.05% 10,240 9,058 105 50 63 48 37 12 1 5.490 12.96% 2Q 4.860 (2) -48 -37 -43 -293 1Q 13.15% 4.750 4.198 1H18 1H19 1 - After making a credit risk assessment, Cemig recognized a loss of R$ 688 mn on accounts receivable from Renova. Provisions for employment-law legal actions were R$ 125 mn higher than in the same period of 2018. 2 - The difference mainly reflects the change in accounting for leasing and rentals – now under IFRS16 / CPC 06 (R2). 14

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PMSO R$ mn 925 887 743 734 723 717 707 700 676 2Q18 to 2Q19 649 PMSO 542 4.38% 422 400 359 349 344 332 308 312 Personnel 2Q18 to 2Q19 352 10.60% 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 15PMSO R$ mn 925 887 743 734 723 717 707 700 676 2Q18 to 2Q19 649 PMSO 542 4.38% 422 400 359 349 344 332 308 312 Personnel 2Q18 to 2Q19 352 10.60% 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 15

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Cemig D: 1H19 Ebitda, Opex – Regulatory vs. Real Opex Regulatory /Real = 100.8% R$ mn Difference: R$ 11 MM 324 64 59 134 37 18 Opex 1.438 1.427 Opex PMSO Pós-Emprego PDVP Multas Provisões PECLD Opex Regulatório Compensações Real Ebitda Adjusted/Regulatory = 84.3% Difference: - R$170 MM 830 12 121 11 101 29 Ebitda 1.743 1.083 913 Lajida Outras OPEX PRL Perdas Outros Lajida ICMS Lajida Regulatório Receitas NãoTécnicas Desvios ajustado Real 16Cemig D: 1H19 Ebitda, Opex – Regulatory vs. Real Opex Regulatory /Real = 100.8% R$ mn Difference: R$ 11 MM 324 64 59 134 37 18 Opex 1.438 1.427 Opex PMSO Pós-Emprego PDVP Multas Provisões PECLD Opex Regulatório Compensações Real Ebitda Adjusted/Regulatory = 84.3% Difference: - R$170 MM 830 12 121 11 101 29 Ebitda 1.743 1.083 913 Lajida Outras OPEX PRL Perdas Outros Lajida ICMS Lajida Regulatório Receitas NãoTécnicas Desvios ajustado Real 16

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Ebitda – 2Q19 R$ mn Cemig D Cemig Consolidated Cemig GT 2Q19/2Q18 105.21% 1H19/2Q18 232.53% 2Q19/2Q18 34.57% Lajida Cemig D Lajida Cemig GT 2Q19 AJ/2Q18 9.41% 2Q19 AJ/2Q18 23.19% 2Q19 AJ/2Q18 20.16% 830 424 688 688 1.237 1.439 1.812 563 457 1.061 299 407 372 883 2Q18 2Q19 ICMS ruling Renova 2Q19 2Q18 2Q19 ICMS ruling 2Q19 Adjusted provision 2Q18 2Q19 ICMS Renova 2Q19 Adjusted Adjusted ruling provision 17Ebitda – 2Q19 R$ mn Cemig D Cemig Consolidated Cemig GT 2Q19/2Q18 105.21% 1H19/2Q18 232.53% 2Q19/2Q18 34.57% Lajida Cemig D Lajida Cemig GT 2Q19 AJ/2Q18 9.41% 2Q19 AJ/2Q18 23.19% 2Q19 AJ/2Q18 20.16% 830 424 688 688 1.237 1.439 1.812 563 457 1.061 299 407 372 883 2Q18 2Q19 ICMS ruling Renova 2Q19 2Q18 2Q19 ICMS ruling 2Q19 Adjusted provision 2Q18 2Q19 ICMS Renova 2Q19 Adjusted Adjusted ruling provision 17

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Ebitda – 1H19 R$ mn Ebitda Consolidated Ebitda Cemig D Ebitda Cemig GT 1H19/1H18 73.17% 1H19/1H18 152.24% 1H19/1H18 26.70% 1H19 AJ/1H18 32.13% 1H19 AJ/1H18 53.92% 1H19 AJ/1H18 33.44% 1.743 830 688 439 688 1.439 3.273 1.478 1.229 913 2.522 970 1.890 691 1H18 1H19 ICMS ruling 1H19 1H18 1H19 ICMS Renova 1H19 1H18 1H19 ICMS ruling Renova 1H19 Adjusted Adjusted ruling provision Adjusted provision 18Ebitda – 1H19 R$ mn Ebitda Consolidated Ebitda Cemig D Ebitda Cemig GT 1H19/1H18 73.17% 1H19/1H18 152.24% 1H19/1H18 26.70% 1H19 AJ/1H18 32.13% 1H19 AJ/1H18 53.92% 1H19 AJ/1H18 33.44% 1.743 830 688 439 688 1.439 3.273 1.478 1.229 913 2.522 970 1.890 691 1H18 1H19 ICMS ruling 1H19 1H18 1H19 ICMS Renova 1H19 1H18 1H19 ICMS ruling Renova 1H19 Adjusted Adjusted ruling provision Adjusted provision 18

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Net profit (loss) – 2Q19 R$ mn Cemig D Cemig Consolidated Cemig GT 2Q19/2Q18 2Q19/2Q18 1,131.25% 2Q19/2Q18 2Q19 AJ/2Q18 2Q19 AJ/2Q18 35.71% 2Q19 AJ/2Q18 688 1.227 1.379 439 688 1.984 591 2.115 342 -180 152 112 819 -11 2Q18 2Q19 ICMS Renova 2Q19 2Q18 2Q19 ICMS ruling 2Q19 Adjusted ruling provision Adjusted 2Q18 2Q19 ICMS ruling Renova 2Q19 Adjusted provision 19Net profit (loss) – 2Q19 R$ mn Cemig D Cemig Consolidated Cemig GT 2Q19/2Q18 2Q19/2Q18 1,131.25% 2Q19/2Q18 2Q19 AJ/2Q18 2Q19 AJ/2Q18 35.71% 2Q19 AJ/2Q18 688 1.227 1.379 439 688 1.984 591 2.115 342 -180 152 112 819 -11 2Q18 2Q19 ICMS Renova 2Q19 2Q18 2Q19 ICMS ruling 2Q19 Adjusted ruling provision Adjusted 2Q18 2Q19 ICMS ruling Renova 2Q19 Adjusted provision 19

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Net profit – 1H19 R$ mn Cemig D Cemig Consolidated Cemig GT 1H19/1H18 541.41% 1H19/1H18 780.34% 1H19/1H18 1,282.09% 1H19 AJ/1H18 255.95% 1H19 AJ/1H18 91.01% 1H19 AJ/1H18 1,653.73% 439 688 1.227 1.567 1.175 688 926 1.984 2.912 340 67 178 454 819 1H18 1H19 ICMS ruling Renova 1H19 1H18 1H19 ICMS ruling 1H19 1H18 1H19 ICMS Renova 1H19 Adjusted provision Adjusted Adjusted ruling provision 20Net profit – 1H19 R$ mn Cemig D Cemig Consolidated Cemig GT 1H19/1H18 541.41% 1H19/1H18 780.34% 1H19/1H18 1,282.09% 1H19 AJ/1H18 255.95% 1H19 AJ/1H18 91.01% 1H19 AJ/1H18 1,653.73% 439 688 1.227 1.567 1.175 688 926 1.984 2.912 340 67 178 454 819 1H18 1H19 ICMS ruling Renova 1H19 1H18 1H19 ICMS ruling 1H19 1H18 1H19 ICMS Renova 1H19 Adjusted provision Adjusted Adjusted ruling provision 20

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Cemig, consolidated: debt profile Maturities timetable – Average tenor: 3.8 years Maturities timetable – July 2019 Average tenor: 4.5 years Total net debt: R$ 12.4 billion 282 5.948 5.948 2.030 2.053 1.902 1.450 257 234 565 282 565 2019 2020 2021 2022 2023 2024 2025 1.236 700 - 1.126 565 882 700 541 257 234 2019 2020 2021 2022 2023 2024 2025 2026 Cost of debt – % Main indexors 15,89 14,28 Net debt 4,98 3,52 3,46 3,01 2,82 Adjusted Ebitda* 9,32 9,09 9,12 9,04 50,4 46,1 44,3 43,2 39,8 8,40 6,01 5,23 5,53 4,58 Net debt 3,74 2015 2016 2017 2018 mar/19 jun/19 Equity + Net debt 2016 2017 2018 mar/19 jun/19 Real Nominal 21 * Adjustments for ICMS tax ruling, and Renova provision.Cemig, consolidated: debt profile Maturities timetable – Average tenor: 3.8 years Maturities timetable – July 2019 Average tenor: 4.5 years Total net debt: R$ 12.4 billion 282 5.948 5.948 2.030 2.053 1.902 1.450 257 234 565 282 565 2019 2020 2021 2022 2023 2024 2025 1.236 700 - 1.126 565 882 700 541 257 234 2019 2020 2021 2022 2023 2024 2025 2026 Cost of debt – % Main indexors 15,89 14,28 Net debt 4,98 3,52 3,46 3,01 2,82 Adjusted Ebitda* 9,32 9,09 9,12 9,04 50,4 46,1 44,3 43,2 39,8 8,40 6,01 5,23 5,53 4,58 Net debt 3,74 2015 2016 2017 2018 mar/19 jun/19 Equity + Net debt 2016 2017 2018 mar/19 jun/19 Real Nominal 21 * Adjustments for ICMS tax ruling, and Renova provision.

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Cemig GT – debt profile Maturities timetable – Average tenor: 4.6 years Main indexors 2% Total net debt: R$ 7.2 billion 5.696 11% Hedge instrument CDI transformed debt in US IPCA 14% dollars into debt costing a fixed percentage of the CDI DÓLAR 685 668 rate, within an FX variation 423 347 OUTROS 0 band. 73% 2019 2020 2021 2022 2023 2024 Cost of debt – % Leverage – % 16,03 Net debt 14,41 5,60 5,14 3,78 3,95 3,55 Adjusted Ebitda* 9,46 9,23 9,36 9,30 62,9 60,7 60,6 8,59 57,7 6,14 5,77 55,1 5,45 4,71 Net debt 3,66 2015 2016 2017 2018 mar/19 jun/19 Equity + Net debt Real Nominal 2016 2017 2018 mar/19 jun/19 22 * Adjustments for ICMS tax ruling, and Renova provision.Cemig GT – debt profile Maturities timetable – Average tenor: 4.6 years Main indexors 2% Total net debt: R$ 7.2 billion 5.696 11% Hedge instrument CDI transformed debt in US IPCA 14% dollars into debt costing a fixed percentage of the CDI DÓLAR 685 668 rate, within an FX variation 423 347 OUTROS 0 band. 73% 2019 2020 2021 2022 2023 2024 Cost of debt – % Leverage – % 16,03 Net debt 14,41 5,60 5,14 3,78 3,95 3,55 Adjusted Ebitda* 9,46 9,23 9,36 9,30 62,9 60,7 60,6 8,59 57,7 6,14 5,77 55,1 5,45 4,71 Net debt 3,66 2015 2016 2017 2018 mar/19 jun/19 Equity + Net debt Real Nominal 2016 2017 2018 mar/19 jun/19 22 * Adjustments for ICMS tax ruling, and Renova provision.

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Cemig D – Debt profile Maturities timetable – Average tenor: 2.7 years Maturities timetable – July 2019 Total net debt: R$ 5.3 billion After re-profiling – July 2019 Average tenor: 5.1 years 1.656 1.265 1.167 954 565 565 700 282 565 252 237 234 282 700 480 463 383 256 234 231 2019 2020 2021 2022 2023 2024 2025 - 15 - In July 2019 – prepayment of debt totaling R$ 3.644 billion, with funds from 2019 2020 2021 2022 2023 2024 2025 2026 th 7 debenture issue. Cost of debt – % Leverage – % 15,87 14,31 Net debt 12,55 5,84 Adjusted Ebitda* 3,49 2,99 3,06 9,28 8,93 8,94 8,86 68,5 56,5 53,5 51,5 46,0 8,06 5,87 5,37 5,08 Net debt 4,56 4,01 Equity + Net debt 2015 2016 2017 2018 mar/19 jun/19 2016 2017 2018 mar/19 jun/19 Real Nominal 23 * Adjustment for ICMS tax ruling..Cemig D – Debt profile Maturities timetable – Average tenor: 2.7 years Maturities timetable – July 2019 Total net debt: R$ 5.3 billion After re-profiling – July 2019 Average tenor: 5.1 years 1.656 1.265 1.167 954 565 565 700 282 565 252 237 234 282 700 480 463 383 256 234 231 2019 2020 2021 2022 2023 2024 2025 - 15 - In July 2019 – prepayment of debt totaling R$ 3.644 billion, with funds from 2019 2020 2021 2022 2023 2024 2025 2026 th 7 debenture issue. Cost of debt – % Leverage – % 15,87 14,31 Net debt 12,55 5,84 Adjusted Ebitda* 3,49 2,99 3,06 9,28 8,93 8,94 8,86 68,5 56,5 53,5 51,5 46,0 8,06 5,87 5,37 5,08 Net debt 4,56 4,01 Equity + Net debt 2015 2016 2017 2018 mar/19 jun/19 2016 2017 2018 mar/19 jun/19 Real Nominal 23 * Adjustment for ICMS tax ruling..

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Investor Relations Tel: +55 (31) 3506-5024 ri@cemig.com.br http://ri.cemig.com.br.Investor Relations Tel: +55 (31) 3506-5024 ri@cemig.com.br http://ri.cemig.com.br.

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9. MATERIAL ANNOUNCEMENT DATED AUGUST 30, 2019: TAESA CONCLUDES ACQUISITION OF PARTICIPATION IN BRASNORTE

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

MATERIAL ANNOUNCEMENT

TAESA—Conclusion of the acquisition of participation in Brasnorte

Cemig (Companhia Energética de Minas Gerais, listed and traded in São Paulo, New York and Madrid), in accordance with CVM Instruction 358 of Jan. 3, 2002 as amended, hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market as follows:

Cemig’s affiliated company Transmissora Aliança de Energia Elétrica S.A. (‘Taesa’) has today published the following Material Announcement:

“Transmissora Aliança de Energia Elétrica S.A. (B3: TAEE11) (“Taesa” or “Company”), pursuant to CVM Instruction 358, as of January 3rd, 2002, as amended, hereby announces to its shareholders, the market in general and other interested parties, continuing the material fact disclosed on August 14, 2019, that the Company’s Extraordinary General Meeting approved, on this date, the acquisition by the Company of 11.624% of the shares representing the total and voting capital of Brasnorte Transmissora de Energia S.A. (“Brasnorte”), through the settlement of the Share Purchase Agreement (“Agreement”) with Bipar Energia, Telecomunicação e Industria Metalúrgica S.A. (“Bipar”) (the “Acquisition”), for the amount of R$ 17,654,000.00 (seventeen million, six hundred, fifty-four thousand Reais), subject to the adjustments provided in the Agreement. Also on this date, the Agreement with Bipar was signed, and the Acquisition was concluded through the payment of R$ 18,023,923.47 (eighteen million, twenty-three thousand, nine hundred and twenty-three Reais and forty-seven cents), after the proper adjustments.

After the conclusion of this operation, the Company, which previously held 88.376% of shareholding interest in Brasnorte, now holds 100% of Brasnorte’s total shares. It is important to note that, on May 31, 2019, the Company acquired 49.7115% of Brasnorte, in accordance with Eletrobrás Auction n. 01/2018, object of material fact disclosed on the same date. Since then, the Company started to consolidate Brasnorte’s results in its financial statements, as defined in its shareholders’ agreement.”

Belo Horizonte, August 30, 2019

Maurício Fernandes Leonardo Júnior

Chief Finance and Investor Relations Officer

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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10. MARKET NOTICE DATED AUGUST 30, 2019: CEMIG RESPONDS TO REQUESTS FOR INFORMATION FROM INVESTORS

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

MARKET NOTICE

Cemig responds to requests for information from investors

In accordance with best corporate governance practices, Cemig (Companhia Energética de Minas Gerais – listed in São Paulo, New York and Madrid), hereby reports to the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market as follows:

Responding to consultations from investors, Cemig reaffirms that it is continuously assessing options for optimizing its cash flow and managing its debt, with focus on reducing leverage, reduction of average cost of debt, and lengthening of average payment maturities.

However, the Company is not considering any capitalization by any public offering in the capital markets (such as, for example, a follow-on).

Belo Horizonte, August 30, 2019

Maurício Fernandes Leonardo Júnior

Chief Finance and Investor Relations Officer

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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11. MARKET NOTICE DATED SEPTEMBER 6, 2019: ACQUISITION OF MATERIAL STAKE BY ITAÚ

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

MARKET NOTICE

In accordance with Article 12 of CVM Instruction 358, Cemig (Companhia Energética de Minas Gerais, listed and traded in São Paulo, New York and Madrid) – hereby informs the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market in general, as follows:

Cemig has received the following notification from Itaú Unibanco S.A.:

“ | Itaú Unibanco S.A., CNPJ 60.701.190/0001-04, herein ‘Itaú Unibanco’, hereby notifies you that on September 04, 2019 the aggregate value of the shares and other securities and financial instruments referenced to shares (as applicable) held by investment funds managed by Itaú Unibanco was 5.073% of the common shares (CMIG3) issued by Cemig, a total of 24,734,628 shares. This characterizes a material increase in stock holding, under the terms of Article 12 of CVM Instruction 568/2015.

Itaú Unibanco further states that the objective of this equity interest is not in any way to alter the composition of the stockholding control or management structure of Cemig.

For maximum clarity Itaú Unibanco underlines that as mentioned above this notification refers to positions held by investment funds managed by Itaú Unibanco, as part of its activity of asset management of third party funds.”

Belo Horizonte, September 6, 2019

Maurício Fernandes Leonardo Júnior

Chief Finance and Investor Relations Officer

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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12. MARKET NOTICE DATED SEPTEMBER 13, 2019: CEMIG BUYS 196.98 MW OF SOLAR AND WIND SUPPLY

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COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

LISTED COMPANY – CNPJ 17.155.730/0001-64 – NIRE 31300040127

MARKET NOTICE

Cemig buys 196.98 MW of solar and wind supply

Cemig (Companhia Energética de Minas Gerais, listed and traded in São Paulo, New York and Madrid), and its wholly-owned subsidiary Cemig Geração e Transmissão S.A. (‘Cemig GT’), in accordance with CVM Instruction 358 of January 3, 2002 and its commitment to implement best corporate governance practices, hereby inform the Brazilian Securities Commission (CVM), the São Paulo Stock Exchange (B3) and the market in general, as follows:

In an Auction to Purchase Incentive-bearing Solar and Wind Power, held today under Cemig GT Tender No. LP 04/2019, supply totaling 196.98 MWaverage was acquired under contracts for a 19-year period, to start in January 2023.

The projects that made the winning bids have total installed capacity of 476.2 MW.

With these contracts, Cemig has improved conditions for renewal of contracts with its clients, and is in a position to expand its market share.

Belo Horizonte, September 13, 2019

Maurício Fernandes Leonardo Júnior

Chief Finance and Investor Relations Officer

Av. Barbacena 1200 |  | Santo Agostinho |  | 30190-131 Belo Horizonte, MG |  | Brazil |  | Tel.: +55 31 3506-5024 |  | Fax +55 31 3506-5025
This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

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