6-K 1 cemig_6k_july17.htm 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2024

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 Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Index

1.
Notice to Shareholders dated April 29, 2024 – Resolutions of the AESM - Dividends and Bonus
2.
Notice to the Market dated April 30, 2024 – Filing of Form 20-F
3.
Earnings Release – 1Q2024
4.
Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024
5.
Notice to the Market dated May 8, 2024 – Moody's upgrades Cemig ratings
6.
Notice to Shareholders dated June 17, 2024 - First Payout Installment
7.
Notice to Shareholders dated June 18, 2024 - Declaration of Interest on Equity
8.
Notice to the Market dated June 27, 2024 – CEMIG suspends the auction of four SHPs/HPPs

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.

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/ Leonardo George de Magalhães
| Name: | Leonardo George de Magalhães
Date: July 18, 2024 | Title: | Chief Finance and Investor Relations Officer

1- Notice to Shareholders dated April 29, 2024 – Resolutions of the AESM - Dividends and Bonus

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64

Company Registry (NIRE): 31300040127

NOTICE TO SHAREHOLDERS

Resolutions of the AESM - Dividends and Bonus

We hereby inform our shareholders that the Annual and Extraordinary Shareholders’ Meeting (AESM) held on this date, resolved, among other matters, the following:

1. DIVIDENDS:

a)
As for the net income for 2023, in the amount of R$5,764,273 thousand, R$3,124,577 thousand shall be allocated as mandatory dividends for Company shareholders, to be paid in two equal installments, with the first installment paid by 06/30/2024, and the second by 12/30/2024, as follows:

✓ To ratify R$2,591,459 thousand as Interest on Equity (“IOE”), already declared according to the table below;

Approval Date | Date “with rights” | Date “ex-rights” | Per common/preferred share (R$) | Total Amount R$ thousand |
12/14/2023 | 12/21/2023 | 12/22/2023 | 0.601020796 | 1,322,561 |
09/20/2023 | 09/25/2023 | 09/26/2023 | 0.189942896 | 417,974 |
06/20/2023 | 06/23/2023 | 06/26/2023 | 0.193907405 | 426,698 |
03/22/2023 | 03/27/2023 | 03/28/2023 | 0.192784036 | 424,226 |
TOTAL | 1.177655133 | 2,591,459 |

✓ To declare R$533,118 thousand as dividends, corresponding to R$0.24226860196 per common/preferred share, payable to shareholders registered in the Book of Registry of Registered Shares on the date of the holding of the AESM, that is, 04/29/2024. The shares will be traded “ex-rights” from 04/30/2024.

2. SHARE CAPITAL INCREASE AND BONUS:

a)
Increase in the Share Capital from R$11,006,853 thousand to R$14,308,909, with the issue of 660,411,207 new shares, being 220,754,287 registered common shares, at a nominal value of R$5.00 each and 439,656,920 registered preferred shares, at a nominal value of R$5.00 each, by capitalizing R$1,856,628 thousand, arising from the capital reserve, and R$1,445,428 from the retained earnings reserve, through share-based bonus, thereby distributing to shareholders a bonus

of 30.00000002726% consisted of new shares of the type of the previous ones, at a nominal value of R$5.00;

b)
All shareholders of record on 04/29/2024, relating to shares traded on B3 S.A. – Brasil, Bolsa, Balcão (“B3”), will be entitled to the aforementioned benefit. The shares will be traded “ex-rights” as to the bonus as of 04/30/2024.

c)
The shares arising from the bonus will be credited on 05/03/2024 and will not be entitled to receive the dividends resolved on for the 2023 fiscal year.

d)
Pursuant to paragraph 1 of Article 58 of Normative Instruction 1585/2015 of the Brazilian Federal Revenue Service, the acquisition unit cost assigned to bonus shares is R$5.00.

e)
As per Normative Instruction 168/91 of the Brazilian Securities and Exchange Commission - CVM, the value calculated from the sale, in reais, of the fractions resulting from the calculation of the bonus will be paid to the respective holders of said fractions, on the same payment date of the second installment of the mandatory dividends for 2023, that is, 12/30/2024.

Shareholders whose shares are not held in custody at CBLC (Companhia Brasileira de Liquidação e Custódia) and whose registration data is outdated are advised to go to a branch of Banco Itaú Unibanco S.A. (The institution administering CEMIG’s Registered Shares System) bearing their personal documents for the due update of their registration data.

Belo Horizonte, April 29, 2024.

Leonardo George de Magalhães

Vice President of Finance and Investor Relations

2 - Notice to the Market dated April 30, 2024 – Filing of Form 20-F

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY HELD COMPANY

Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64

Company Registry (NIRE): 31300040127

NOTICE TO THE MARKET

Form 20-F

A COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG”), a publicly held company with shares traded on the stock exchanges of São Paulo, New York and Madrid, hereby informs the Brazilian Securities and Exchange Commission (CVM), B3 S.A. – Brasil, Bolsa, Balcão (“B3”) and the market in general that it has filed on April 30, 2024, Form 20-F for the 2023 fiscal year (“2023 Form 20-F”) with the U.S. Securities and Exchange Commission (“SEC”).

2023 Form 20-F can be accessed on SEC’s website, at www.sec.gov, or the Company’s

Investor Relations website, at http://ri.cemig.com.br.

Belo Horizonte, April 30, 2024.

Leonardo George de Magalhães

Vice President of Finance and Investor Relations

3 - Earnings Release – 1Q2024

CONTENTS |
1Q24 HIGHLIGHTS | 3
CONSOLIDATED RESULTS FOR THE QUARTER | 5
Profit and loss accounts | 6
RESULTS BY BUSINESS SEGMENT | 7
CONSOLIDATED ELECTRICITY MARKET | 8
PERFORMANCE BY COMPANY | 9
Cemig D | 9
Billed electricity market | 9
Sources and uses of electricity – MWh | 10
Client base | 10
Performance by sector | 10
The Tariff Adjustment and the Tariff Review | 11
Quality indicators – DEC and FEC | 12
Combating default | 12
Energy losses | 13
Cemig GT and the Cemig Holding Company | 14
Electricity market | 14
Sources and uses of electricity | 14
Gasmig | 15
Financial results | 16
Consolidated operational revenue | 16
Operational costs and expenses | 18
CONSOLIDATED EBITDA (IFRS and Adjusted) | 22
Ebitda of Cemig D | 23
Cemig GT – Ebitda | 24
Finance income and expenses | 25
Equity income (gain/loss in non–consolidated investees) | 25
Net profit | 26
Investments | 27
Debt | 28
Covenants – Eurobonds | 30
Cemig’s long-term ratings | 31
ESG – Report on performance | 32
Performance of Cemig’s shares and ADRs | 34
Cemig generation plants | 35
Expansion of Photovoltaic Generation | 35
RAP – July 2023-June 2024 cycle | 36
Regulatory Transmission Revenue | 36
Complementary information | 37
Cemig D | 37
Cemig GT | 38
Cemig, Consolidated | 39
Disclaimer | 46

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 4 |

CONSOLIDATED RESU LTS FOR THE QUARTER

Consolidated results – 1Q24

|  | 1Q24 | 1Q23 | Change %
Ebitda by company, IFRS |  |  |
| (R$ ’000) |
Cemig D | (IFRS) | 746,490 | 775,088 | –3.7%
Cemig GT | (IFRS) | 800,893 | 818,897 | –2.2%
Gasmig | (IFRS) | 217,642 | 257,995 | –15.6%
Consolidated | (IFRS) | 2,011,234 | 2,161,971 | –7.0%

| 1Q24 | 1Q23 | Change %
Ebitda by company, Adjusted |  |  |
(R$ ’000) |  |  |
Cemig D | 746,490 | 741,098 | 0.7%
Cemig GT | 780,862 | 788,809 | –1.0%
Consolidated | 1,990,700 | 2,072,566 | –3.9%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 5 |

Profit and loss accounts

|  | 1Q24 | 1Q23 | Change, %
PROFIT AND LOSS ACCOUNTS | (R$ ’000) |  |  |
NET REVENUE |  | 9,057,867 | 8,646,937 | 4.8%
COSTS |  | 5,785,012 | 5,462,332 | 5.9%
Cost of electricity |  | 3,510,632 | 3,444,067 | 1.9%
Gas purchased for resale |  | 510,177 | 614,803 | –17.0%
Charges for use of national grid |  | 843,222 | 700,181 | 20.4%
Infrastructure construction costs |  | 920,981 | 703,281 | 31.0%
OPERATING EXPENSES |  | 1,680,664 | 1,478,341 | 13.7%
People |  | 324,058 | 335,197 | –3.3%
Employees’ and managers’ profit shares |  | 39,232 | 38,127 | –
Post-employment obligations |  | 142,285 | 103,038 | 38.1%
Materials |  | 28,970 | 29,233 | –0.9%
Outsourced services |  | 518,907 | 467,446 | 11.0%
Depreciation and amortization |  | 328,542 | 302,666 | 8.5%
Operating provisions / adjustments |  | 139,585 | 113,536 | 22.9%
Impairment |  | 22,958 | 46,126 | –50.2%
Provisions for client default |  | 75,853 | 7,926 | 857.0%
Gain on disposal of plants |  | –42,989 | 0 | –
Gain on disposal of investment |  | 0 | –30,487 | –100.0%
Other operating costs and expenses, net |  | 103,263 | 65,533 | 57.6%
Share of profit (loss) in non–consolidated investees |  | 90,501 | 153,041 | –40.9%
Net finance income (expenses) |  | –180,986 | –105,914 | 70.9%
Profit before income and Social Contribution taxes |  | 1,501,706 | 1,753,391 | –14.4%
Deferred income tax and Social Contribution tax |  | –348,815 | –355,185 | –1.8%
NET PROFIT FOR THE PERIOD |  | 1,152,891 | 1,398,206 | –17.5%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 6 |

RESULTS BY BU SINESS SEGMENT

INFORMATION BY SEGMENT, 1Q24
| Electricity | Gas | Equity interests | Eliminations | TOTAL
Generation | Transmission | Trading | Distribution
NET REVENUE | 714,883 | 285,785 | 1,750,127 | 5,970,234 | 792,017 | 7,920 | -463,099 | 9,057,867
COST OF ELECTRICITY AND GAS | –78,944 | –106 | –1,454,588 | –3,274,737 | –510,177 | –538 | 455,059 | –4,864,031
OPERATIONAL COSTS AND EXPENSES |  |  |  |  |  |  |  |  |  |
People | –37,764 | –36,716 | –5,886 | –210,155 | –16,377 | –17,160 | 0 | –324,058
Employees’ and managers’ profit shares | –3,968 | –4,077 | –650 | –25,117 | 0 | –5,420 | 0 | –39,232
Post-employment obligations | –15,126 | –9,348 | –2,142 | –96,053 | 0 | –19,616 | 0 | –142,285
Materials, Outsourced services and Other expenses | –18,667 | –20,409 | –4,710 | –567,270 | –12,760 | –15,555 | 8,040 | –631,331
Depreciation and amortization | –83,583 | 59 | –6 | –216,199 | –23,727 | –5,086 | 0 | –328,542
Operating provisions / adjustments | –3,190 | –3,165 | –2,380 | –191,435 | –608 | –14,438 | 0 | –215,216
Infrastructure construction costs | 0 | –27,554 | 0 | –858,976 | –34,451 | 0 | 0 | –920,981
Total, operational | –162,298 | –101,210 | –15,774 | –2,165,205 | –87,923 | –77,275 | 8,040 | –2,601,645
TOTAL COSTS AND EXPENSES | –241,242 | –101,316 | –1,470,362 | –5,439,942 | –598,100 | –77,813 | 463,099 | –7,465,676
Share of profit (loss) in non-consolidated investees | –1,012 | 0 | 0 | 0 | 0 | 91,513 | 0 | 90,501
Finance income (expenses) | –27,802 | –16,587 | 7,449 | –108,781 | –17,159 | –18,106 | 0 | –180,986
Profit (loss) before taxes on profit | 444,827 | 167,882 | 287,214 | 421,511 | 176,758 | 3,514 | 0 | 1,501,706
Income tax and Social Contribution tax | –73,033 | –35,576 | –95,210 | –99,173 | –59,750 | 13,927 | 0 | –348,815
NETPROFIT FORTHEPERIOD | 371,794 | 132,306 | 192,004 | 322,338 | 117,008 | 17,441 | 0 | 1,152,891

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 7 |

CONSOLIDATED E LECTRICITY MARKET

Cemig’s electricity market

In March 2024 the Cemig Group billed approximately 9.25 million clients – an addition of approximately 174,000 clients, or a 1.9% increase in its consumer base from March 2023.

•
9,247,020 of these consumers are final consumers (including Cemig’s own consumption);
•
537 are other agents in the Brazilian power sector.

The charts below itemize the Cemig Group’s sales to final consumers:

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 8 |

PERFORMANC E BY COMPANY

Ce mig D

Billed el ectricity market

| 1Q24 | 1Q23 | Change %
Captive clients + Transmission service (MWh) |  |  |
Residential | 3,250,170 | 2,984,825 | 8.9%
Industrial | 5,574,606 | 5,457,071 | 2.2%
Captive market | 275.264 | 334.141 | –17.6%
Transport of energy | 5,299,342 | 5,122,930 | 3.4%
Commercial, Services and Others | 1,657,340 | 1,612,350 | 2.8%
Captive market | 1,076,142 | 1,113,679 | –3.4%
Transport of energy | 581,198 | 498,671 | 16.5%
Rural | 614,792 | 528,060 | 16.4%
Captive market | 600,086 | 517,361 | 16.0%
Transport of energy | 14,706 | 10,699 | 37.5%
Public services | 845,626 | 870,898 | –2.9%
Captive market | 719,985 | 765,523 | –5.9%
Transport of energy | 125,641 | 105,375 | 19.2%
Concession holders | 76,189 | 64,686 | 17.8%
Transport of energy | 76,189 | 64,686 | 17.8%
Own consumption | 8,188 | 7,545 | 8.5%
Total | 12,026,911 | 11,525,435 | 4.4%
Total, captive market | 5,929,835 | 5,723,074 | 3.6%
Total, energy transported for Free Clients | 6,097,076 | 5,802,361 | 5.1%

In 1Q24 energy supplied to captive clients plus energy transported for Free Clients and distributors totaled 12,030 GWh, or 4.4% more than in 1Q23, mainly reflecting increases in consumption by residential consumers (+265.3 GWh or +8.9%), commercial clients (+117.5 GWh or +2.2%), and rural clients (+86.7 GWh or +16.4%), reflecting higher temperatures, higher economic activity, and higher need for irrigation in the period.

The growth of 4.4% in total energy distributed comprises:

•
An increase of 5.1% (+294.7 GWh) in use of the network by Free Clients, and
•
an increase of 3.6% (+206.8 GWh) in consumption by the captive market.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 9 |

Sources and uses of e lectricity – MWh

| 1Q24 | 1Q23 | Change %
Metered market – MWh |  |  |
Transported for distributors | 75,697 | 64,614 | 17.2%
Transported for Free Clients | 6,033,163 | 5,768,677 | 4.6%
Own load + Distributed generation | 8,743,130 | 8,277,750 | 5.6%
Consumption by captive market | 5,693,805 | 5,682,138 | 0.2%
Distributed Generation market | 1,438,331 | 1,020,445 | 41.0%
Losses in distribution network | 1,610,994 | 1,575,168 | 2.3%
Total volume carried | 14,851,991 | 14,111,042 | 5.3%

Clien t base

9.24 million consumers were billed in March 2024 – 1.9% more than in March 2023. Of this total, 3,186 were Free Clients using the distribution network of Cemig D.

| Mar. 2024 | Mar. 2023 | Change %
Number of captive clients |  |  |
Residential | 7,780,429 | 7,543,247 | 3.1%
Industrial | 27,869 | 28,908 | –3.6%
Commercial, services and Others | 925,561 | 946,504 | –2.2%
Rural | 416,378 | 458,641 | –9.2%
Public authorities | 69,960 | 69,453 | 0.7%
Public lighting | 6,728 | 7,249 | –7.2%
Public services | 13,691 | 13,605 | 0.6%
Own consumption | 762 | 764 | –0.3%
Total, captive clients | 9,241,378 | 9,068,371 | 1.9%
Number of free clients |  |  |
Industrial | 1302 | 1097 | 18.7%
Commercial | 1,819 | 1,524 | 19.4%
Rural | 29 | 14 | 107.1%
Concession holders | 8 | 8 | 0.0%
Other | 28 | 20 | 40.0%
Total, Free Clients | 3,186 | 2,663 | 19.6%
Total, Captive market + Free Clients | 9,244,564 | 9,071,034 | 1.9%

Performan ce by sector

Industrial: Energy distributed to Industrial clients was 2.2% higher in 1Q24 than 1Q23, on higher physical production by industry, and was 46.4% of Cemig D’s total distribution. The greater part was energy transported for industrial Free Clients (44.1%), which was 3.4% higher by volume than in 1Q23. Energy billed to captive clients was 2.3% by volume of the total distributed, and 17.6% less in total than in 1Q23 – mainly due to migration of clients to the Free Market. Highlights of electricity consumption, by industrial sector, were: higher consumption by Mining (up +12.3%), Steel (up 8.5%), Food and beverages (up 5.5%), and Cement (up 5.0%); while consumption was lower in Chemicals (down 6.2%), and Castings (down 11.4%).

Residential: Residential consumption was 27.0% of total energy distributed by Cemig D, and 8.9% higher than in 1Q23. Average monthly consumption per consumer in the quarter, at 139.2 kWh/month, was 5.6% higher than in 1Q23, reflecting higher than historic average temperatures, increased family income – and our actions to recover energy losses. Also contributing to higher consumption was the growth in the number of clients in this category – an increase of 3.1% (237,100 clients).

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 10 |

Commercial and services: Energy distributed to these consumers was 13.8% of the total distributed by Cemig D in 1Q24, and by volume 2.8% more than in 1Q23. This increase is the result of a 3.4% reduction in energy billed to captive clients, and an increase of 16.5% in the volume of energy transported for Free Clients. The increase in consumption is related to expansion of the services sector, growth of retail sales, temperatures above historical averages in the period. It is worth noting that the increase in this user category happened in spite of the migration of consumers to distributed generation, which, along with migration to the Free Market, was reducing captive consumption.

Rural: Consumption by rural clients was 5.1% of the total energy distributed, and 16.4% higher by volume than in 1Q23, mainly due to higher consumption for irrigation, due to lower volume of rainfall.

Public services: consumed 7.0% of the energy distributed in 1Q24, in total 2.9% lower by volume than in 1Q23. Total captive consumption in 1Q24 fell by 45.5 GWh year-on-year, while the Free Market expanded by 20.3 GWh. This figure was mainly due to consumers migrating to the Free Market.

The Tariff Adjustmen t and the Tariff Review

The tariffs of Cemig D are adjusted in May of each year; and every five years there is the Periodic Tariff Review, also in May. The aim of the Tariff Adjustment is to pass on changes in non-manageable costs in full to the client; while the Tariff Review aims to provide inflation adjustment for the costs specified as manageable. Manageable costs are adjusted by the IPCA inflation index, less a factor known as the ‘X Factor’, to capture productivity, under a system using the price-cap regulatory model.

On May 22, 2023 Aneel ratified the result of Cemig D’s 2023 Annual Tariff Adjustment, effective from May 28, 2023 to May 27, 2024, the result of which was an average increase for consumers of 13.27%. The average effect for low-voltage clients was an increase of 15.55%, and for residential consumers 14.91%. The percentage component corresponding to the Company’s management costs (referred to as ‘Portion B’) was 0.66%. The increase relating to non-manageable costs (‘Portion A’ – comprising purchase of energy, transmission, sector charges and non-recoverable revenues) was 5.09%; and the increase in the financial components of the tariff was 7.52%. The effect in the financial components comes mainly from absence of the R$ 2.81 billion component included in the 2022 adjustment for repayment to consumers of credits of PIS, Pasep and Cofins taxes – while repayment of R$ 1.27 billion was incorporated into the Tariff Review of 2023.

Average effects of the May 2023 Tariff Adjustment
High voltage – average | 8.94%
Low voltage – average | 15.55%
Average effect | 13.27%

Comparison of the Tariff Reviews of 2023 and the previous cycle:

Five-year Tariff Reviews compared – 2018 and 2023 | 2018 | 2023
Gross Remuneration Base R$ mn | 20,490 | 25,587
Net Remuneration Base R$ mn | 8,906 | 15,200
Average depreciation rate: % | 3.84% | 3.95%
WACC (after taxes) % | 8.09% | 7.43%
Remuneration of ‘Special Obligations’ R$ mn | 149 | 272
CAIMI* R$ mn | 333 | 484
QRR* – Depreciation (Gross base x depreciation rate) R$ mn | 787 | 1,007

* CAIMI: (Cobertura Anual de Instalações Móveis e Imóveis) – Annual support for facilities.

** QRR: ‘Regulatory Reintegration Quota’: Gross base x annual depreciation rate.

See more details at this link:

https://www2.aneel.gov.br/aplicacoes/tarifa/arquivo/NT%2012%202023%20RTP%20Cemig.pdf

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 11 |

Quality indica tors – DEC and FEC

In 2023 the State of Minas Gerais was impacted by an increase in extreme atmospheric events, which caused a slight increase in electricity outages. Given this challenging scenario, Cemig has implemented several initiatives to reduce the number and duration of outages, and has made major investments in the distribution business to provide a quality service to clients.

These actions are already generating positive results: the DEC indicator (Average Outage Duration per Consumer) returned to a level within the regulatory limit: this limit was 9.64 hours, and Cemig's DEC in the 12-month window to end-March was 9.38 hours.

Comba ting default

Maintaining a high level of collection actions, the Company kept its Receivables Recovery Index above 99% in March 2024.

New payment channels, and online negotiation, made available in recent quarters (PIX instant payments, automatic bank debits, payments by card and app, etc.) have continued to increase the proportion of collection via digital channels – in 1Q24 it reached 66.39% of the total collected, compared to 59.63% in 1Q23.

A highlight is the use of the PIX instant payment system, which was launched 2 years ago, and in March 2024 already was used for 24.0% of all collection payments.

The change in the collection mix reduced costs by 19% – a saving of R$ 3.4 million compared to 1Q23.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 12 |

Energy losses

Energy losses were compliant with the regulatory level in the 12 months to end March 2024, at 10.59% (the regulatory level is 10.69%).

Highlights of our combat of energy losses in 1Q24 include: approximately 75,000 inspections; replacement of more than 149,000 obsolete meters; exchange of 30,200 conventional meters for smart meters (bringing the total of smart meters installed since the project began in September 2021 to 343,000); and regularization of 1,300 clandestine connections for families living in ‘invaded’ or low-income areas, through our Energia Legal program, which includes ‘bulletproofed’ networks – with a total of 13,937 regularizations since the project began in February 2023.

Planned for full-year 2024 are: 350,000 inspections; installation of a further 200 thousand smart meters; and regularization of 30,000 families in low-income communities.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 13 |

Cemig GT and the Cemig Holding Company

Electr icity market

The total volume of electricity sold by Cemig GT and by the Cemig holding company (‘Cemig H’), excluding sales on the wholesale power exchange (CCEE) was 4.0% higher than in 1Q23. Cemig GT billed 5,182 GWh (including quota sales) in 1Q24, 18.1% less than in 1Q23. This reduction reflects the transfer to Cemig H of contracts for sales of electricity totaling 1,522 GWh more than in 1Q23.

As a result the holding company reported sales of 4,520 GWh in 1Q24, 50.7% more than in 1Q23. Migration of purchase contracts from Cemig GT to the holding company began in 3Q21, and has been gradually increasing since then. The percentage of GT contracts transferred to Cemig H is now at around 60%.

|  | 1Q24 | 1Q23 |  | Change %
Cemig GT – MWh
Free Clients |  | 2,953,278 | 3,843,590 |  | –23.2%
Industrial |  | 1,916,629 | 2,883,714 |  | –33.5%
Commercial |  | 1,007,960 | 956,466 |  | 5.4%
Rural |  | 5,033 | 3,410 |  | 47.6%
Public authorities |  | 717 | – |  | –
Free Clients – ‘Retailers’ |  | 22,939 |  |  |
Free Market – Traders and cooperatives |  | 1,065,136 | 1,305,488 |  | –18.4%
Quota supply |  | 571,019 | 584,390 |  | –2.3%
Regulated Market |  | 561,529 | 565,779 |  | –0.8%
Regulated Market – Cemig D |  | 317,92 | 32,607 |  | –2.5%
Total, Cemig GT |  | 5,182,754 | 6,331,854 |  | –18.1%
Cemig H – MWh |  |  |  |  |
Free Clients |  | 2,397,577 | 1,368,672 |  | 75.2%
Industrial |  | 1,926,233 | 1,089,819 |  | 76.7%
Commercial |  | 455,186 | 273,315 |  | 66.5%
Rural |  | 16,158 | 5,538 |  | 191.8%
Free Market – Traders and cooperatives |  | 2,122,441 | 1,629,701 |  | 30.2%
Total Cemig H |  | 4,520,018 | 2,998,373 |  | 50.7%
Cemig GT + H |  | 9,702,772 | 9330,227 |  | 4.0%

Sources and u ses of electricity

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 14 |

Gas mig

Gasmig is the exclusive distributor of piped natural gas for the whole of the state of Minas Gerais. It supplies industrial, commercial and residential users, compressed natural gas and vehicle natural gas, and gas as fuel for thermoelectric generation plants. Its concession expires in January 2053. Cemig owns 99.57% of Gasmig.

Gasmig’s Tariff Review was completed in April 2022. Highlights:

▪
The WACC used as basis for the calculation (real, after taxes) was reduced from 10.02% p.a. to 8.71% p.a.
▪
The Net Remuneration Base was increased significantly, to R$ 3.48 billion.
▪
The regulator recognized the cost of PMSO (Personnel, Materials, Services outsourced and Other expenses) in full.

Market (Volume in ’000 m 3) | 2022 | 2023 | 1Q23 | 1Q24 | 1Q23–1Q24
Automotive | 40,950 | 31,907 | 7,494 | 5,371 | –28.3%
Compressed vehicle natural gas | 364 | 541 | 178 | 124 | –30.3%
Industrial | 870,667 | 830,943 | 211,978 | 191,349 | –9.7%
Industrial compressed natural gas | 13,616 | 12,473 | 2,835 | 2,099 | –26.0%
Residential | 11,392 | 11,912 | 2,728 | 2,602 | -4.6%
Co–generation | 13,137 | 12,075 | 2,626 | 3,549 | 35.1%
Commercial | 23,114 | 21,964 | 4,830 | 4,973 | 3.0%
Subtotal - conventional gas | 973,240 | 921,815 | 232,669 | 210,067 | –9.7%
Thermal plants | 37,991 | – | – | – | –
Subtotal – gas sold | 1,011,231 | 921,815 | 232,669 | 210,067 | –9.7%
Industrial – Free Market | 87,133 | 92,362 | 22,356 | 22,767 | 1.8%
Industrial compressed natural gas – Free Market | – | – | – | 2,359 | 0.0%
Thermal – Free Market | 7,119 | 19,050 | 280 | 116 | -58.6%
Total (sales + Free Clients) | 1,105,483 | 1,033,227 | 255,305 | 235,309 | –7.8%

Ebitda (R$ ’000) | 1Q24 | 1Q23
Profit (loss) for the period | 117,007 | 155,361
Income tax and Social Contribution tax | 61,452 | 65,943
Finance income (expenses) | 17,159 | 15,269
Depreciation and amortization | 22,024 | 21,422
Ebitda per CVM Resolution 156 | 217,642 | 257,995

The volume of gas sold in 1Q24 was 9.7% lower than in 1Q23, and volume distributed to industrial Free Clients was 1.8% higher.

Gasmig’s Ebitda was 15.6% lower in 1Q24 than 1Q23, reflecting (i) lower volume, and (ii) the lower compensatory component in the tariff (for differences between actual costs and cost included in the tariff award calculation).

The number of Gasmig’s clients increased by 15.7% from 1Q23, to a total of 98,021 consumers in 1Q24. This growth reflects expansion of both the commercial and the residential client bases (addition of 13,200 clients)

Financi al results

Consolidated operational revenue

| 1Q24 | 1Q23 | Change %
R$ ’000 |  |  |
Revenue from supply of electricity | 8,019,144 | 7,095,344 | 13.0%
Revenue from use of distribution systems (TUSD charge) | 1,169,299 | 980,398 | 19.3%
CVA and Other financial components in tariff adjustments | 75,675 | 20,840 | 263.1%
Reimbursement (to consumers) of credits of PIS, Pasep and Cofins taxes – Amounts realized | 322,666 | 695,989 | –53.6%
Transmission – operation and maintenance revenue | 66,562 | 87,740 | –24.1%
Transmission – construction revenue | 63,394 | 39,403 | 60.9%
Financial remuneration of transmission contractual assets | 151,392 | 177,254 | –14.6%
Generation indemnity revenue | 21,434 | 22,476 | –4.6%
Distribution construction revenue | 893,427 | 676,448 | 32.1%
Adjustment to expected cash flow from indemnifiable financial assets of the distribution concession | 30,951 | 30,844 | 0.3%
Gain on financial updating of Concession Grant Fee | 128,625 | 134,766 | –4.6%
Settlements on CCEE | 40,757 | 29,363 | 38.8%
Transactions in the Surpluses Sales Mechanism (MVE) | 0 | –3766 | –100.0%
Retail supply of gas | 919,648 | 1,123,570 | –18.1%
Penalty for continuity indicator shortfall | –45,927 | –38,469 | 19.4%
Other operational revenues | 636,954 | 492,015 | 29.5%
Taxes and charges reported as deductions from revenue | -3,436,134 | -2,917,278 | 17.8%
Net operational revenue | 9,057,867 | 8,646,937 | 4.8%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 16 |

Revenue from supply of electricity

| 1Q24 | 1Q23 | Change, %
| MWh | R$ ’000 | Average price billed – R$/MWh (1) | MWh | R$ ’000 | Average price billed – R$/MWh (1) | MWh | R$ ’000
Residential | 3,250,170 | 3,126,496 | 961.95 | 2,984,825 | 2,394,792 | 802.32 | 8.9% | 30.6%
Industrial | 4,130,114 | 1,298,596 | 314.42 | 4,307,674 | 1,439,741 | 334.23 | –4.1% | –9.8%
Commercial, Services and Others | 2,547,884 | 1,674,462 | 657.2 | 2,343,460 | 1,503,080 | 641.39 | 8.7% | 11.4%
Rural | 623,633 | 533,356 | 855.24 | 526,308 | 392,758 | 746.25 | 18.5% | 35.8%
Public authorities | 253,258 | 223,285 | 881.65 | 223,654 | 164,544 | 735.71 | 13.2% | 35.7%
Public lighting | 248,003 | 130,982 | 528.15 | 269,516 | 116,991 | 434.08 | –8.0% | 12.0%
Public services | 219,441 | 185,343 | 844.61 | 272,353 | 164,251 | 603.08 | –19.4% | 12.8%
Subtotal | 11,272,503 | 7,172,520 | 636.28 | 10,927,790 | 6,176,157 | 565.18 | 3.2% | 16.1%
Own consumption | 8,188 | 0 | – | 7545 | 0 | – | 8.5% | –
Retail supply not yet invoiced, net | 0 | -155,322 | – | 0 | 13,439 | – | – | –
| 11,280,691 | 7,017,198 | 636.28 | 10,935,335 | 6,189,596 | 565.18 | 3.2% | 13.4%
Wholesale supply to other concession holders (2) | 4,275,663 | 1,051,019 | 245.81 | 4,038,776 | 964,188 | 238.73 | 5.9% | 9.0%
Wholesale supply not yet invoiced, net | 0 | -49,073 | – | 0 | -58,440 | – | – | –16.0%
Total | 15,556,354 | 8,019,144 | 528.91 | 14,974,111 | 7,095,344 | 477.09 | 3.9% | 13.0%

(1)
The calculation of average price does not include revenue from supply not yet billed.
(2)
Includes Regulated Market Electricity Sale Contracts (CCEARs) and ‘bilateral contracts’ with other agents.

Energy sold to final consumers

Gross revenue from energy sold to final consumers in 1Q24 was R$ 7,017.20 million, compared to R$ 6,189.60 million in 1Q24, an increase of 13.4% YoY, in spite of volume being only 3.2% higher. The increase mainly reflects the re-inclusion, in the basis for calculation of ICMS tax, of the Transmission and Distribution charges, as from Decree 45572/2023, of February 2023.

Wholesale supply

Revenue from wholesale supply in 1Q24 was R$ 1,001.9 million, compared to R$ 905.7 million in 1Q23. The increase reflects (i) updating of the amounts of contracts, and (ii) volume sold 5.9% higher.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 17 |

Transmission

| 1Q24 | 1Q23 | Change %
TRANSMISSION REVENUE (R$ ’000) |  |  |
Operation and maintenance | 66,562 | 87,740 | –24.1%
Infrastructure construction, strengthening and enhancement | 63,394 | 39,403 | 60.9%
Financial remuneration of transmission contractual assets | 151,392 | 177,254 | –14.6%
Total | 281,348 | 304,397 | –7.6%

Transmission revenue was 7.6% lower, due to revenue from operation and maintenance being 24.1% lower, and revenue from financial remuneration of transmission contractual assets being 14.6% (R$ 25.9 million) lower, due to the different IPCA inflation rate – the basis for the remuneration of the contract – which was 1.42% positive in 1Q24, compared to 2.09% (positive) in 1Q23. Construction revenue increased by 60.9% (R$ 24.0 million), mainly due to additions made to projects with higher construction margins in the period.

Gas

Gross revenue from supply of gas in 1Q24 was R$ 919.6 million, compared to R$ 1,123.6 million in 1Q23. The lower figure is due to: (i) passthrough to tariffs of downward adjustments made in the price of gas acquired in the prior 12 months (lower average prices); and (ii) the lower volume of sales in the industrial and automotive markets.

Revenue from Use of Distribution Systems – The TUSD charge

| 1Q24 | 1Q23 | Change %
TUSD (R$ ’000)
Use of the Electricity Distribution System | 1,169,299 | 980,398 | 19.3%

In 1T24 revenue from the TUSD – charged to Free Consumers on their distribution of energy – was R$ 188.9 million higher than in 1Q24. This reflects (i) volume of energy transported for Free Clients 5.1% higher; and (ii) re-inclusion in the basis for calculation of ICMS tax of transmission and distribution charges, as from February 2023.

| 1Q24 | 1Q23 | Change %
ENERGY TRANSPORTED – MWh
Industrial | 5,299,342 | 5,122,930 | 3.4%
Commercial | 581,198 | 498,671 | 16.5%
Rural | 14,706 | 10,699 | 37.5%
Public services | 125,641 | 105,375 | 19.2%
Concession holders | 76,189 | 64,686 | 17.8%
Total energy transported | 6,097,076 | 5,802,361 | 5.1%

Operational co sts and expenses

Operational costs and expenses in 1Q24 totaled R$ 7.47 billion, which compares with R$ 6.94 billion in 1Q23. This mainly reflects higher posting of construction cost (+R$ 217.7 million), higher cost of use of the national grid (+R$ 143.0 million), higher amounts posted for losses on expected receivables (+R$ 67.9 million), and, in counterpart, lower expense on purchase of gas (–R$ 104.6 million). See more details on costs and expenses in the pages below.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 18 |

Operational costs and expenses

| 1Q24 | 1Q23 | Change %
R$ ’000 |  |  |
Electricity bought for resale | 3,510,632 | 3,444,067 | 1.9%
Charges for use of national grid | 843,222 | 700,181 | 20.4%
Gas purchased for resale | 510,177 | 614,803 | –17.0%
Construction cost | 920,981 | 703,281 | 31.0%
People | 324,058 | 335,197 | –3.3%
Employees’ and managers’ profit shares | 39,232 | 38,127 | 2.9%
Post-employment obligations | 142,285 | 103,038 | 38.1%
Materials | 28,970 | 29,233 | –0.9%
Outsourced services | 518,907 | 467,446 | 11.0%
Depreciation and amortization | 328,542 | 302,666 | 8.5%
Provisions / adjustments for losses | 139,585 | 113,536 | 22.9%
Impairments (reversal) | 22,958 | 46,126 | –50.2%
Provisions (reversals) for client default | 75,853 | 7,926 | 857.0%
Gain on sale of plants | –42,989 | 0 | -
Gain on disposal of investment | 0 | –30,487 | –100.0%
Other operating costs and expenses, net | 103,263 | 65,533 | 57.6%
Total | 7,465,676 | 6,940,673 | 7.6%

Electricity purchased for resale

| 1Q24 | 1Q23 | Change %
CONSOLIDATED (R$ ’000) |  |  |
Electricity acquired in Free Market | 1,239,531 | 1,225,659 | 1.1%
Electricity acquired in Regulated Market auctions | 1,001,518 | 937,269 | 6.9%
Distributed generation | 663,764 | 618,732 | 7.3%
Supply from Itaipu Binacional | 268,696 | 262,175 | 2.5%
Physical guarantee quota contracts | 220,391 | 226,248 | –2.6%
Individual (‘bilateral’) contracts | 127,290 | 125,429 | 1.5%
Proinfa | 113,113 | 127,894 | –11.6%
Spot market | 63,761 | 110,319 | –42.2%
Quotas for Angra I and II nuclear plants | 94,399 | 89,917 | 5.0%
Credits of PIS, Pasep and Cofins taxes | –281,831 | –279,575 | 0.8%
| 3,510,632 | 3,444,067 | 1.9%

The expense on electricity bought for resale in 1Q24 was R$ 3.51 billion, R$ 66.6 million (1.9%) higher than in 1Q23. This reflects, mainly:

▪
Expenses on energy acquired in the Regulated Market R$ 64.2 million (6.9%) higher than in 1Q23. reflecting (i) the annual adjustments to contracts, by the IPCA inflation index, and (ii) entry of new contracts.
▪
Expense on distributed generation R$ 45.0 million (+7.3%) higher, reflecting the higher number of generation facilities installed (261,000 in March 2024, compared to 215,000 in March 2023), and a 44.2% increase, year-on-year, in the volume of energy injected, that was 1.438 GWh in 1Q24.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 19 |

▪
The costs of energy acquired in the Free Market (the Company’s highest cost of purchased energy), were R$ 1,239.5 million, R$ 13.9 million (1.1%) higher than in 1Q23.
▪
The cost of Proinfa supply was 11.6% (R$ 14.8 million) lower, mainly due to winds throughout Brazil’s Northeast being far lower than in previous periods, with an impact on wind generation by several enterprises.

Note that for Cemig D, purchased energy 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 next tariff adjustment.

| 1Q24 | 1Q23 | Change %
Cemig D (R$ ’000) |  |  |
Supply acquired in auctions on the Regulated Market | 1,026,912 | 951,606 | 7.9%
Distributed generation | 663,764 | 618,732 | 7.3%
Supply from Itaipu Binacional | 268,696 | 262,175 | 2.5%
Physical guarantee quota contracts | 224,569 | 239,079 | –6.1%
Individual (‘bilateral’) contracts | 127,290 | 125,429 | 1.5%
Proinfa | 113,113 | 127,894 | –11.6%
Quotas for Angra I and II nuclear plants | 94,399 | 89,917 | 5.0%
Spot market – CCEE | 47,226 | 72,151 | –34.5%
Credits of PIS, Pasep and Cofins taxes | –166,596 | –163,169 | 2.1%
| 2,399,373 | 2,323,814 | 3.3%

Charges for use of the transmission network and other system charges

Charges for use of the transmission network in 1Q24 totaled R$ 843.2 million, 20.4% higher year-on-year. The difference primarily reflects: (i) a higher need for dispatching of thermoelectric generation plants in 2023, on days and intra-day periods of higher demand, due to higher temperatures; and (ii) entry into operation of the Reserve Energy contracts arising from the Simplified Competitive Procedure (Procedimento Competitivo Simplificado – PCS) of 2021, with a consequent increase in the Reserve Energy charges in the period. This is a non-manageable cost in the distribution business: the difference between the amounts used as a reference for calculation of tariffs and the costs actually incurred is compensated for in the next tariff adjustment.

Gas purchased for resale

The expense on acquisition of gas in 1Q24 was R$ 510.2 million, or 17.0% less than in 1Q23. This is due to a lower price of gas acquired for resale, and also lower quantity – 9.7% less by volume.

Outsourced services

Expenditure on outsourced services was 11.0% (R$ 51.5 million) higher than in 1Q23, the main factors being higher expenses on: maintenance of electrical installations and equipment (R$ 34.1 million, or 19.4%, higher); cleaning of power line pathways (+R$ 8.0 million, or 33.5%, higher); and information technology (R$ 7.2 million, or 13.9%, higher).

Provisions for client default

The expense on provisions for losses due to client default in 1Q24 was R$ 75.8 million, compared to R$ 7.9 million in1Q23, mainly due to the revision, in 3Q22, of the criteria for accounting for overdue client receivables (increase of the threshold for posting 100% loss, from 12 to 24 months, to reflect the actual performance of Cemig clients more faithfully) – which also had a positive effect in 1Q23).

Provisions for contingencies

Contingency provisions totaled R$ 139.6 million in 1Q24, 22.9% more than in 1Q23. This reflected a higher volume of provisions in Cemig Distribution, mainly in provisions for employment-law and third-party liability contingencies, reassessment of chances of loss in lawsuits in progress, and decisions against the Company in cases completed or with final settlement in 1Q24.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 20 |

Impairments

Provisions for impairment in 1Q24 totaled R$ 23.0 million: R$ 17.7 million for plants classified as held for sale, and R$ 5.3 million for a receivable from a client disputing amounts owed. In 1Q23 an impairment of R$ 46.1 million had been posted for the plants of Cemig GT which were in the process of sale (this was reversed with the success of the sale auction).

Gain on disposal of investment

With the completion of the sale of Small Hydro Plants in 1Q24, a gain of R$ 42.9 million was posted in Other costs and expenses. In 1Q23 a gain of R$ 30.5 million been posted in this line, for part of the sale of the stake in Santo Antônio.

Post-employment liabilities

The impact of the Company’s post-retirement obligations on operational profit in 1Q24 was an expense of R$ 142.3 million, compared to an expense of R$ 103.0 million in 1Q23. The lower figure represents remeasurement, in 1Q23, of the post-employment liability, with a positive impact of R$ 56.9 million, reflecting acceptance of the new health plan by some of the active employees.

People

Expense on personnel in 1Q24 was R$ 324.1 million, 3.3% less than in 1Q23, even after the 4.14% increase in salaries under the Collective Work Agreement of November 2023. The reduction is explained by (i) the lower cost of newly-hired employees than of those that left the Company, and (ii) the average number of employees being 1.2% lower than in 1Q23.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 21 |

CONSOLIDATED EBITDA (IFRS and Adjusted)

Ebitda is a non-accounting measure prepared by the Company, reconciled with its consolidated financial statements in accordance with the specifications in CVM Circular SNC/SEP 01/2007 and CVM Resolution 156 of June 23, 2022. It comprises: Net profit adjusted for the effects of: (i) Net financial revenue (expenses), (ii) depreciation and amortization, and (iii) income tax and the Social Contribution tax. Ebitda is not a measure recognized by Brazilian GAAP nor by IFRS; it does not have a standard meaning; and it may be non-comparable with measures with similar titles provided by other companies. Cemig publishes Ebitda because it uses it to measure its own performance. Ebitda should not be considered in isolation or as a substitute for net profit or operational profit, nor as an indicator of operational performance or cash flow, nor to measure liquidity nor the capacity for payment of debt. In accordance with CVM Instruction 156/2022, the Company adjusts Ebitda to exclude extraordinary items which, by their nature, do not contribute to information on the potential for gross cash flow generation.

1Q24 consolidated Ebitda
R$ ’000 | Generation | Transmission | Trading | Distribution | Gas | Holding co. and equity interests | Total
Profit (loss) for the period | 371,794 | 132,306 | 192,004 | 322,338 | 117,008 | 17,441 | 1152,891
Income tax and Social Contribution tax | 73,033 | 35,576 | 95,210 | 99,173 | 59,750 | –13,927 | 348,815
Finance income (expenses) | 27,802 | 16,587 | -7,449 | 108,781 | 17,159 | 18,106 | 180,986
Depreciation and amortization | 83,583 | –59 | 6 | 216,199 | 23,727 | 5,086 | 328,542
Ebitda per CVM Resolution 156 | 556,212 | 184,410 | 279,771 | 746,491 | 217,644 | 26,706 | 2,011,234
Net profit attributed to non–controlling stockholders | – | – | – | – | –503 | – | –503
Gain on sale of generation plants | –42,989 | – | – | – | – | – | –42,989
Impairment | 22,958 | – | – | – | – | – | 22,958
Adjusted Ebitda | 536,181 | 184,410 | 279,771 | 746,491 | 217,141 | 26,706 | 1,990,700

1Q23 consolidated Ebitda
R$ ’000 | Generation | Transmission | Trading | Distribution | Gas | Holding co. and equity interests | Total
Profit (loss) for the period | 348,395 | 154,910 | 232,593 | 369,533 | 155,359 | 137,416 | 1,398,206
Income tax and Social Contribution tax | 100,990 | 35,885 | 108,152 | 118,970 | 64,240 | -73,052 | 355,185
Finance income (expenses) | -12,517 | 649 | -15,528 | 92,347 | 15,270 | 25,693 | 105,914
Depreciation and amortization | 81,140 | 1 | 4 | 194,240 | 23,125 | 4,156 | 302,666
Ebitda per CVM Resolution 156 | 518,008 | 191,445 | 325,221 | 775,090 | 257,994 | 94,213 | 2,161,971
Non-recurring and non-cash effects |  |  |  |  |  |
Net profit attributed to non-controlling stockholders | - | - | - | - | -668 | - | -668
Gain on disposal of investment | - | - | - | - | - | -55,391 | -55,391
Remeasurement of post-employment liabilities | -10,679 | -6,599 | -1,512 | -33,990 | - | -4,181 | -56,961
Impairment | 46,126 | - | - | - | - | - | 46,126
Other | - | - | -22,511 | - | - | - | -22,511
Adjusted Ebitda | 553,455 | 184,846 | 301,198 | 741,100 | 257,326 | 34,641 | 2,072,566

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 22 |

Ebitda of Cemig D | 1Q24 | 1Q23 | Change %
Cemig D Ebitda – R$ ’000 |  |  |
Net profit for the period | 322,338 | 369,530 | –12.8%
Income tax and Social Contribution tax | 99,173 | 118,970 | –16.6%
Net finance revenue (expenses) | 108,780 | 92,348 | 17.8%
Amortization | 216,199 | 194,240 | 11.3%
EBITDA | 746,490 | 775,088 | –3.7%
Post-employment – Cemig Saúde | 0 | –33,990 | –100.0%
Adjusted Ebitda | 746,490 | 741,098 | 0.7%

Cemig D posted Ebitda of R$ 746.5 million, 0.7% more than the adjusted Ebitda of 1Q23. Main effects in Ebitda in the quarter:

▪
4.4% more energy distributed than in 1Q23 (+3.6% in the captive market and +5.1% in the Free Market), reflecting (i) high temperatures, (ii) improved economic activity, and (iii) greater need for irrigation in the period – rural consumption was up 16.4%, residential consumption was up 8.9%, and industrial consumption up 2.2%.
▪
Full effect of the May 2023 Tariff Review in the period.
▪
Personnel expenditure R$ 14.5 million (6.5%) lower in 1Q24.
▪
Energy losses: Cemig D outperformed the regulatory limit – reporting 10.59%, vs. the regulatory limit of 10.69%.
▪
New Replacement Value (VNR) of R$ 30.9 million in 1Q24, and R$ 30.8 million in 1Q23.
▪
Higher volume of client default provisions: R$ 73.0 million in 1Q24,vs. R$ 8.1 million in 1Q23 – partly due to revision, in 3Q22, of the rules for measurement of provisions for default, which had a positive effect in the subsequent 12 months.
▪
Higher volume of provisions for contingencies, especially employment-law and third-party liability litigation: R$ 106.0 million in 1Q24, compared to R$ 55.9 million in 1Q23.
▪
Net expense on deactivation of assets R$ 15.6 million (57.6%) higher than in 1Q23.
▪
Positive effect of R$ 34.0 million in 1Q23, resulting from remeasurement of post-employment liabilities as a result of the new health plan being accepted by part of the employees.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 23 |

Cem ig GT – Ebitda

Cemig GT 1Q24 Ebitda |  |  |  |  |
R$ ’000 | Generation | Transmission | Trading | Equity interests | Total
Profit (loss) for the period | 372,261 | 129,598 | 50145 | -58,198 | 493,806
Income tax and Social Contribution tax | 73,033 | 34,221 | 22,130 | 25,359 | 154,743
Finance income (expenses) | 27,802 | 16,693 | –7,449 | 31,706 | 68,752
Depreciation and amortization | 83,584 | 2 | 6 | – | 83,592
Ebitda per CVM Resolution 156 | 556,680 | 180,514 | 64,832 | -1,133 | 800,893
Gain on sale of assets | –42,989 | – | – | – | –42,989
Impairment | 22,958 | – | – | – | 22,958
Adjusted Ebitda | 536,649 | 180,514 | 64,832 | -1,133 | 780,862

Cemig GT 1Q23 Ebitda |  |  |  |  |
R$ ’000 | Generation | Transmission | Trading | Equity interests | Total
Profit (loss) for the period | 348,917 | 153,445 | 55,592 | 51,549 | 609,503
Income tax and Social Contribution tax | 100,990 | 35,140 | 16,970 | –19,039 | 134,061
Finance income (expenses) | –12,517 | 877 | –15,528 | 21,356 | –5,812
Depreciation and amortization | 81,140 | 1 | 4 | – | 81,145
Ebitda per CVM Resolution 156 | 518,530 | 189,463 | 57,038 | 53,866 | 818,897
– Gain on sale of investments | – | – | – | –55,391 | –55,391
– Remeasurement of post-employment liabilities | –10,679 | –6,600 | –1,512 | –2,032 | –20,823
+ Impairment | 46,126 | – | – | – | 46,126
Adjusted Ebitda | 553,977 | 182,863 | 55,526 | –3,557 | 788,809

The Ebitda of Cemig GT in 1Q24 was R$ 800.9 million, 2.2% lower than in 1Q23.

Adjusted Ebitda was 1.0% lower. Effects on Ebitda in the YoY comparison:

▪
Completion of the sale of 15 Small Hydro Plants (PCHs) and Hydro Plants (CGHs) in 1Q24, with a gain of R$ 43.0 million.
▪
Less advantageous GSF in 1Q24: in 1Q23 it was higher than 1, and approximately 10% lower in 1Q24.
▪
Volume of energy sold, excluding settlements on the CCEE, 18% lower, due to transfer of contracts to the holding company.
▪
Impairments of R$ 23.0 million were posted in 1Q24: R$ 17 million for plants held for sale, and R$ 5.3 million for a client questioning the amount of a receivable. In 1Q23 an impairment of R$ 46.1 million had been made for plants included in the process of sale.
▪
Lower equity income (share of gain/loss in non-consolidated investees): R$ 7.6 million in 1Q24, compared to R$ 69.5 million in 1Q23. The main factors were (i) positive, in 1Q23, on the sale of Santo Antônio; and (ii) equity income from Belo Monte R$ 14.4 million lower.
▪
Gain of R$ 55.4 million, in 1Q23, on disposal of the equity interest in Mesa (Santo Antônio plant), comprising R$ 30.5 for the directly held interest, and R$ 24.9 million via equity income.
▪
Positive effect of R$ 20.8 million, in 1Q23, from remeasurement of post-employment liabilities, as a result of the new health plan being accepted by some of the employees.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 24 |

Finance incom e and expenses

| 1Q24 | 1Q23 | Change %
(R$ ’000) |  |  |
Finance income | 218,245 | 329,784 | –33.8%
Finance expenses | –399,231 | –435,698 | –8.4%
Finance income (expenses) | –180,986 | –105,914 | 70.9%

For 1Q24 Cemig reports Net financial expenses of R$ 181.0 million, compared to Net financial expenses of R$ 105.9 million in 1Q23. Main factors:

▪
Lower income from cash investments: R$ 64.8 million in 1Q24, R$ 33.2 million less than in 1Q23. The main factor was the lower CDI rate: 2.63% in 1Q24, vs. 3.25% in 1Q23.
▪
Monetary updating on the balances of CVA and Other financial components in tariff increases: a gain (financial revenue item) of R$ 1.8 million in 1Q24, compared to a gain of R$ 26.6 million in 1Q23. This basically reflects a lower balance of items updated by the Selic rate in 1Q24.
▪
In 1Q24 the US dollar appreciated by 3.2% (R$0.155) against the Real, but in 1Q23 it depreciated by 2.63% (R$ 0.137) – generating an expense related to dollar debt of R$ 59.0 million in 1Q24, and a gain of R$ 103.8 million in 1Q23.
▪
The fair value of the financial instrument contracted to hedge the risks connected with the Eurobonds gained R$ 42.0 million in value in 1Q24; and lost value of R$ 12.7 million in 1Q23.

Eurobonds – Effect in the quarter (R$ ’000)

| 1Q24 | 1Q23
Effect of FX variation on the debt | –59,034 | 103,814
Effect on the hedge | 42,032 | –12,725
Net effect in Financial income (expenses) | –17,002 | 91,089

Equity income (gain/loss in non–consolidated investees)

| 1Q24 | 1Q23 | Change R$ ’000
EQUITY INCOME* (R$ ’000) |  |  |
Taesa | 80,112 | 80,785 | –673
Aliança Geração | 30,861 | 35,165 | –4,304
Paracambi | 3,169 | –345 | 3,514
Hidrelétrica Pipoca | 3,769 | 7,488 | –3,719
Hidrelétrica Cachoeirão | 1,114 | 3,304 | –2,190
Guanhães Energia | 2,318 | 16,695 | –14,377
Cemig Sim (Equity holdings) | 3,373 | 3,377 | –4
Mesa and FIP Melbourne (Santo Antônio Plant) | 0 | 12,826 | –12,826
Baguari Energia | 0 | 9,426 | -9,426
Retiro Baixo | 0 | 4,103 | -4,103
Belo Monte (Aliança Norte and Amazônia Energia) | –34,215 | –19,783 | –14,432
Total | 90,501 | 153,041 | –4,103

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 25 |

Net profit

For 1Q24, Cemig once again reports quarter Net profit of more than R$ 1 billion: R$ 1.153 billion in 1Q24, compared to R$ 1.398 billion in 1Q23. Adjusted net profit in 1Q24 is R$ 1,154 million, compared to R$ 1,270 billion in 1Q23. Main factors in this result were:

▪
(i) Strong results from energy trading: Profit of R$ 192 million, due to a differentiated strategy, including anticipation of market movements, by Cemig GT and the Holding company, plus (ii) lower average cost of energy purchased in 1Q24, due to wind power generation from suppliers being lower than contracted levels resulting in the purchase of the difference at spot price
▪
Cemig D distributed 4.4% more energy in 1Q24 than in 1Q23.
▪
Conclusion of the sales of 15 Small Hydro Plants (PCHs) and Hydro Plants (CGHs), with positive effect of R$ 25.0 million in 1Q24 net profit.
▪
Cemig D reports profit of R$ 322.3 million, 7.2% lower than the adjusted result for 1Q23, impacted by higher expenditure on provisions, and de-activation of assets.
▪
Gasmig posted profit 24.7% lower than in 1Q23, due to (i) a lower volume of gas sold and (b) a lower compensatory component allowed in its tariffs (for differences between actual costs and the costs estimated in calculating the tariff).
▪
Equity income (gain/loss in non-consolidated investees) was R$ 65.2 million lower. The main factors were (i) a positive item of R$ 25 million, in 1Q23, on the sale of Santo Antônio; and (ii) equity income from Belo Monte R$ 14.4 million lower in 1Q24.
▪
Impairments posted, with effects of R$ 11.7 million on net profit in 1Q24, and R$ 30 million in 1Q23, for plants transferred to the process of sale. In 1Q24 an impairment of R$ 3.5 million was also posted for dispute of a receivable by a client.
▪
Net financial expenses of R$ 181.0 million in 1Q24, and R$ 105.9 million in 1Q23 – the 1Q23 result reflected appreciation of the Real against the dollar.

Other effects in 1Q23:

▪
Positive effect of R$ 38 million in 1Q23, resulting from remeasurement of post-employment liabilities, as a result of the new health plan being accepted by some of the employees.
▪
Gain of R$ 45 million on disposal of the interest in Mesa (Santo Antônio plant).

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 26 |

Inves tments

The total invested in 2023 was R$ 1.02 billion, 36.0% more than in 1Q23.

The highlight was Cemig D with R$ 881 million invested in 1Q24.

Underlining our mission to grow in renewable generation, works are 92% complete on the Boa Esperança and Jusante photovoltaic solar generation plants, which will add generation capacity of 188 MWp, with start of operation planned for the end of first half 2024. Gasmig has begun works on the Center-West Project, with allocated capex of R$ 780 million, for construction of 300 kilometers of pipeline network.

Execution of the largest investment program in Cemig’s history will modernize and improve the reliability of Cemig’s electricity system, in line with its strategic plan of focusing on Minas Gerais and its core businesses, providing ever-improving service to the client. Investment totaling R$ 35.6 billion is planned over 2024-2028, of which R$ 6.2 billion to be invested in 2024.

Deb t

CONSOLIDATED – R$ ’000 | Mar. 2024 | 2023 | Change, %
Gross debt | 11,625,874 | 9,831,139 | 18.3%
Cash and equivalents + Securities | 45,53,488 | 2,311,464 | 97.0%
Net debt | 7,072,386 | 7,519,675 | -5.9%
Debt in foreign currency | 1,968,173 | 1,854,093 | 6.2%

CEMIG GT – R$ ’000 | Mar. 2024 | 2023 | Change, %
Gross debt | 3,014,062 | 2,868,093 | 5.1%
Cash and equivalents + Securities | 1,252,777 | 937,518 | 33.6%
Net debt | 1,761,285 | 1,930,575 | –8.8%
Debt in foreign currency | 1,968,173 | 1,854,093 | 6.2%

CEMIG D – R$ ’000 | Mar. 2024 | 2023 | Change, %
Gross debt | 7,531,748 | 5,887,622 | 27.9%
Cash and equivalents + Securities | 1,669,280 | 450,748 | 270.3%
Net debt | 5,862,468 | 5,436,874 | 7.8%
Debt in foreign currency | 0 | 0 | –

In 1Q24 Cemig D amortized debt of R$ 440.9 million, and in March 2024 concluded a further issue of R$ 2 billion in debentures, characterized as “ESG resource use securities – sustainable, for which demand was 2.73 times the offering, in two series: The first for R$ 400 million, remunerated at the CDI rate plus 0.80% p.a., with maturity at five years and partial amortization in the fourth year; the second, for R$ 1.6 billion, remunerated by the IPCA inflation index plus 6.1469%, p.a., with maturity at 10 years, and amortizations in the 8 th and 9 th years. After this issue the average tenor of the debt increased by approximately one year, to 3.6 years. Leverage (Net debt/adjusted Ebitda) remained at below 1x.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 28 |

| 1Q24
DEBT AMORTIZED – R$ ’000 |
Cemig GT | 0
Cemig D | 440,916
Others | 0
Total | 440,916

* Debt in USD is protected by a hedge instrument, within an FX variation band – with payment of interest converted to % of the Brazilian CDI rate.

Covenants – Eurobonds

Last 12 months | Mar. 2024 |  | 2023
R$ mn | GT | H |  | GT | H
Net profit (loss) | 2,287 | 5,522 |  | 2,403 | 5,767
Net financial revenue (expenses) |  |  |  | 96 | 379
Income tax and Social Contribution tax |  |  | 170 | 454 | 1,084
Depreciation and amortization | 331 | 1,300 | 605 | 1,078 | 1,274
Profit (loss) in minority holdings | –79 | –319 |  | –141 | –432
Provisions for change in value of obligations under put option | 25 | 25 |  | 58 | 58
Non-operational profit (loss) – includes any gains on sales of assets and any write-offs of value in, or impairment of, assets | –324 | –324 |  | –289 | –289
Non–recurring non-monetary expenses and/or charges. | – | – |  | –21 | –57
Any non-recurring non-monetary credits or gains that increase net profit | – | – |  | – | 23
Non-monetary gains related to transmission and/or generation reimbursements | –511 | –519 |  | –515 | –524
Dividends received in cash from minority investments (as measured in the Cash flow statement) | 366 | 549 |  | 363 | 592
Inflation correction on concession charges | –406 | –406 |  | –412 | –412
Cash inflows related to concession charges | 334 | 334 |  | 331 | 331
Cash inflows related to transmission revenue for coverage of cost of capital | 800 | 808 |  | 738 | 747
Adjusted Ebitda | 3,598 | 8,502 |  | 3,524 | 8,541

12 months | Mar. 2024 |  | 2023
R$ mn | GT | H |  | GT | H
Consolidated debt | 3,014 | 11,626 |  | 2,868 | 9,831
Derivative hedge instrument | –410 | –410 |  | –368 | –368
Debt contracts with Forluz | 126 | 559 |  | 138 | 611
Consolidated cash and cash equivalents and consolidated securities posted as current assets | –1,253 | –4,553 |  | –938 | –2,311
Adjusted net debt | 1,477 | 7,222 |  | 1,700 | 7,763

| Mar. 2024 |  | 2023
Net debt covenant / Ebitda covenant | 0.41 | 0.85 |  | 0.48 | 0.91
Limit for: Net debt covenant / Ebitda covenant | 2.5 | 3.00 |  | 2.50 | 3.00
Consolidated debt with asset guarantees | – | 2,279 |  | – | –
(Consolidated debt with guarantees) / (Ebitda covenant) | – | 0.27 |  | – | –
Limit for: (Consolidated debt with guarantees) / (Ebitda covenant) | – | 1.75 |  | – | 1.75

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 30 |

Cemig’s long-term ratings

Cemig’s ratings have improved significantly in recent years, and are currently at their highest-ever level. In 2021 the three principal rating agencies upgraded their ratings for Cemig. In April 2022, Moody’s again upgraded its rating for Cemig, this time by one notch. In 2023, S&P, Fitch Ratings and Moody’s maintained their ratings for Cemig. In May 2024 Moody’s increased its ratings on the Brazilian scale for Cemig, Cemig D and Cemig GT from “AA.br“ to “AA+.br reflecting our success in implementing measures that increased the Company’s credit quality.

More details in this table:

ESG – Repo rt on performance

Cemig – Highlights

▪
The Aneel IASC (Consumer Satisfaction) index reported an increase of 4.60% in consumer satisfaction with Cemig’s service quality, value and perceived reliability in 2023, compared to 2022 – attributing a score of 60.45 points, – while the result of the 'IASC Brazil Concessionaires' (average result of all distributors) was 59.91, which represented an increase of 1.91%.
▪
Cemig D launched its Structuring Projects, which aim to improve distribution processes, stimulate increased investment, and consolidate the Company’s position as a benchmark in the electricity sector. These are a total of 14 projects aligned with the Company’s 2024–2028 strategic planning, primarily in the areas of procurement, information technology, real estate management, legal and other areas supporting execution of projects.
▪
The sale of 15 small hydroelectric generation plants, to Mang Participações e Agropecuária, was completed: 12 owned by Cemig GT and 3 by Horizontes.
▪
The consumer opinion platform consumidor.gov reported Cemig in second place in customer satisfaction in its sector, 9 th in providing solutions, and 7 th in response time. This is the best result since 2020, when the Company’ data began to be available on this platform, which allows direct dialog between consumers and companies in solving consumer problems.
▪
Works were started on modernization of the Salto Grande Hydroelectric Plant, in Braúnas, Minas Gerais. This plant, with installed capacity of 102 MW, has been operating for 74 years. The estimated budget is approximately R$ 160 million.

Social

▪
Cemig has joined the Desenrola Brasil (‘Simplify, Brazil’) Program, a federal government initiative for low-income earners who had been put on credit reporting lists between January 2019 and May 2023, to regularize and renegotiate personal debts of up to R$ 20,000 on advantageous terms.
▪
We launched our Program to Combat Moral or Sexual Harassment, Discrimination and Other Forms of Violence in the Workplace, reaffirming our commitment to a safe, respectful and inclusive work environment for all employees.

Governance

▪
Cemig has updated its policy on treatment of personal data and business information. One of the changes allows monitoring of use of the Company’s internal platforms, to protect personal data and corporate information, ensuring that all employees comply with laws, procedures, policies and internal rules.
▪
An update of the Compliance Policy was approved, to include the subject of combating bribery, with reference also to prevention of fraud. This reinforces the Company’s commitment in managing conflicts of interest, and combating any act that could represent deviation from ethical conduct or compliance with legislation, or any internal or external rules.

Cemig in the main sustainability indices

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 32 |

Indicators

Climate change and renewable energy | 1Q24
| Indicators |
| % of generation from renewable sources | 100%
Consumption of electricity per employee (MWh) | 2.26
Consumption of renewable fuels (GJ) | 35,620.00
Consumption of non-renewable fuels (GJ) | 851,121.00
Index of energy losses in the national grid (Cemig GT)(%) | 2.51
I–REC (renewable-source) certificates sold | 1,627,823
Cemig RECs sold [2] | 1,667,149
Number of smart meters installed | 30,179
| Impact and environmental protection |
Number of transformers refurbished | 233
Percentage of waste sent for reuse | 98.00%
| Water resources |
Water consumption (m³) | 47,971.62
Surface Water Monitoring Management Indicator (%) | 100
| Sustainable social development |
Allocation to the Children’s and Adolescents’ Fund (FIA) (R$) | 814,970
Allocated to the Fund for the Aged (R$) | 814,970
Allocated via the Sports Incentive Law (R$) | 1,629,939.79
Number of homes connected via the ‘Energia Legal’ Program | 3,714
| Health and safety |
Accident frequency rate – own plus outsourced employees | 3.46
Number of fatal or non-fatal accidents with the population | 5
| Transparency |
% of shares held by members of Boards | 0.01
Number of independent members of the Board of Directors | 10
| Ethics and Integrity |
Total accusations received | 136
Total completed cases ruled valid or partially valid | 47
| Diversity and equity |
Number of registered employees | 4,893
White employees, % | 57.1%
African-Brazilian employees, % | 38.3%
Mixed-race employees, % | 0.5%
Indigenous-origin employees, % | 0.1%
Employees not declaring race, % | 4.1%
Women in Cemig’s workforce, % | 14.1%
Women in leadership positions: % | 19.7%
African-Brazilians in leadership positions, % | 17.2%
Employees below age 30, % | 5.7%
Employees aged 30 to 50, % | 60.6%
Employees aged over 50, % | 33.6%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 33 |

Performance of Ce mig’s shares and ADRs

Security | Mar. 2024 | 2023 | Change, %
Prices (2)
CMIG4 (PN) at the close (R$/share) | 12.56 | 11.32 | 10.97%
CMIG3 (ON) at the close (R$/share) | 14.6 | 14.95 | –2.32%
CIG (ADR for PN shares), at close (US$/share) | 2.47 | 2.28 | 8.45%
CIG.C (ADR for ON shares) at close (US$/share) | 2.9 | 3.12 | –7.05%
XCMIG (Cemig PN shares on Latibex), close (€/share) | 2.36 | 1.88 | 25.53%
Average daily volume
CMIG4 (PN) (R$ mn) | 141.77 | 131.35 | 7.93%
CMIG3 (ON) (R$ mn) | 6.07 | 7.82 | –22.38%
CIG (ADR for PN shares) (US$ mn) | 5.83 | 8.98 | –35.08%
CIG.C (ADR for ON shares) (US$ mn) | 0.97 | 0.17 | 470.59%
Indices
IEE | 88,654 | 94,957 | –6.64%
IBOV | 128,106 | 134,185 | –4.53%
DJIA | 39,807 | 37,689 | 5.62%
Indicators
Market valuation at end of period, R$ mn | 29,140 | 27,948 | 4.26%
Enterprise value (EV), R$ mn (1) | 36,665 | 35,892 | 2.15%
Dividend yield of CMIG4 (PN) (%) (3) | 10.14 | 11.24 | –1.1 pp
Dividend yield of CMIG3 (ON) (%) (3) | 8.72 | 8.53 | 0.19 pp

(1) EV = (Market valuation [= R$/share x number of shares]) + (Consolidated net debt).
(2) Share prices adjusted for corporate action payments, including dividends. |
(3) (Dividends distributed in last four quarters) / (Share price at end of the period).

The aggregate trading of Cemig's ON and PN shares places it as one of the most traded companies in the Brazilian market. On the New York Stock Exchange the volume traded in ADRs for Cemig’s preferred shares (CIG) in 1Q24 was US$355.5 million – reflecting investors’ continued recognition of Cemig as a global investment option.

The benchmark Ibovespa index of the São Paulo Stock Exchange fell 4.53% in the period, while the preferred (PN) shares of Cemig rose 10.97%, the highest gain among companies of the Brazilian power sector, and the common (ON) shares fell 2.32%. In New York the ADRs for Cemig’s preferred shares rose 8.45% in the period, and the ADRs for the common shares fell 7.05%.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 34 |

Cemig ge neration plants

Plant | Company | Cemig power (MW) | Cemig physical guarantee (MW) | End of concession | Type | Cemig interest
Emborcação | CEMIG GT | 1,192 | 475 | May-27 | Hydroelectric | 100.00%
Nova Ponte | CEMIG GT | 510 | 257 | Aug-27 | Hydroelectric | 100.00%
Três Marias | CEMIG GT | 396 | 227 | Jan-53 | Hydroelectric | 100.00%
Irapé | CEMIG GT | 399 | 198 | Sep-37 | Hydroelectric | 100.00%
Salto Grande | CEMIG GT | 102 | 74 | Jan-53 | Hydroelectric | 100.00%
Sá Carvalho | Sá Carvalho | 78 | 54 | Aug-26 | Hydroelectric | 100.00%
Rosal | Rosal Energia | 55 | 28 | Dec-35 | Hydroelectric | 100.00%
Itutinga | CEMIG G. ITUTINGA | 52 | 27 | Jan-53 | Hydroelectric | 100.00%
Camargos | CEMIG G. CAMARGOS | 46 | 22 | Jan-53 | Hydroelectric | 100.00%
Volta do Rio | CEMIG GT | 42 | 18 | Dec-31 | Wind | 100.00%
Poço Fundo | CEMIG GT | 30 | 17 | May-52 | Hydroelectric | 100.00%
Pai Joaquim | CEMIG PCH | 23 | 14 | Oct-32 | Hydroelectric | 100.00%
Piau | CEMIG G. SUL | 18 | 14 | Jan-53 | Hydroelectric | 100.00%
Praias de Parajuru | CEMIG GT | 29 | 8 | Sep-32 | Wind | 100.00%
Gafanhoto | CEMIG G. OESTE | 14 | 7 | Jan-53 | Hydroelectric | 100.00%
Peti | CEMIG G. LESTE | 9 | 6 | Jan-53 | Hydroelectric | 100.00%
Joasal | CEMIG G. SUL | 8 | 5 | Jan-53 | Hydroelectric | 100.00%
Queimado | CEMIG GT | 87 | 53 | Jul-34 | Hydroelectric | 82.50%
Belo Monte | Norte | 1,313 | 534 | Jul-46 | Hydroelectric | 11.69%
Aimorés | ALIANÇA | 149 | 78 | Nov-39 | Hydroelectric | 45.00%
Amador Aguiar I | ALIANÇA | 94 | 58 | Nov-42 | Hydroelectric | 39.31%
Amador Aguiar II | ALIANÇA | 83 | 49 | Aug-36 | Hydroelectric | 39.31%
Funil | ALIANÇA | 81 | 36 | May-40 | Hydroelectric | 45.00%
Igarapava | ALIANÇA | 50 | 30 | Sep-31 | Hydroelectric | 23.69%
Porto Estrela | ALIANÇA | 34 | 18 | Jun-35 | Hydroelectric | 30.00%
Candonga | ALIANÇA | 32 | 14 | Dec-38 | Hydroelectric | 22.50%
Gravier | ALIANÇA | 32 | 13 | Aug-55 | Wind | 45.00%
Santo Inácio III | ALIANÇA | 13 | 6 | Jun-46 | Wind | 45.00%
São Raimundo | ALIANÇA | 10 | 5 | Jun-46 | Wind | 45.00%
Santo Inácio IV | ALIANÇA | 10 | 5 | Jun-46 | Wind | 45.00%
Garrote | ALIANÇA | 10 | 5 | Jun-46 | Wind | 45.00%
Paracambi | Paracambi Energética | 12 | 10 | Jan-34 | Hydroelectric | 49.00%
Cachoeirão | Hidrelétrica Cachoeirão | 13 | 8 | Sep-33 | Hydroelectric | 49.00%
Pipoca | Hidrelétrica Pipoca | 10 | 6 | Dec-34 | Hydroelectric | 49.00%
Others |  | 117 | 51 |  |  |
Total |  | 5,153 | 2,430 |  |  |
Cemig Sim (MWp) | Equity interests | 29 | - |  | Solar | 49.00%
Cemig Sim (MWp) | Owned | 29 | - |  | Solar | 100.00%
Total |  | 5,211 | 2,430 |  |  |

Expansion of P hotovoltaic Generation

Plant | Company | Installed Capacity (Mwac) | Capacity (MWp) | Expected start of operation
UFV Advogado Eduardo Soares | Cemig GT | 85 | 105 | June 2024
UFV Três Marias Jusante | Cemig GT | 70 | 88 | June 2024
Projeto Ouro Solar | Cemig Sim | 40.5 | 57.5 | Jun to Sep 2024
Projeto Bloco Azul | Cemig Sim | 23 | 32.6 | Jun to Oct 2024
Projeto Solar do Cerrado | Cemig Sim | 50 | 70 | Jun to Nov 2025
Total |  | 268.5 | 353.1 |

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 35 |

RAP – July 2023-Ju ne 2024 cycle

The RAP of Cemig GT has been increased by 23.5%, as from July, reflecting (i) inflation in the period, (ii) strengthening and enhancements, and (iii) flow from reprofiling of its National Grid (RBSE) component.

Aneel Ratifying Resolution (ReH) 3216/2023 (2023–2024 cycle)
Company | RAP* (R$ ’000) | % Cemig | Cemig (R$ ’000) | Expiration
Cemig | 1,143036 | 100.00% | 1,143,036 |
Cemig GT | 1,045,366 | 100.00% | 1,045,366 | Dec. 2042
Cemig Itajubá | 59,266 | 100.00% | 59,266 | Oct. 2030
Centroeste | 29,268 | 100.00% | 29,268 | Mar. 2035
Sete Lagoas | 9,136 | 100.00% | 9,136 | Jun. 2041
Taesa | 4,052,200 | 21.68% | 878,517 |
TOTAL RAP |  |  | 2,021,553 |

* RAP including amounts of the Adjustment Portion.

Reimbursement for Assets – National Grid**
R$ ’000 – by cycle | 2020–2021 | 2021–2022 | 2022–2023 | 2023–2024 | From 2024–2025 to 2027–2028
Economic | 144,547 | 144,547 | 144,547 | 144,375 | 39,104
Financial | 332,489 | 88,662 | 129,953 | 275,556 | 275,556
TOTAL | 477,036 | 233,209 | 274,499 | 419,931 | 314,660

** The figures for indemnity of National Grid components are included in the RAP of Cemig (first table).

Note: Cemig currently has state environmental (REA) approval for additional large-scale strengthening and enhancement works, for total capex of R$ 967 million; and for investments of R$ 211 million related to Lot 1 of Auction 02/2022 (with completion of works planned for 2028).

Planned operational startup date | Capex (R$ ’000) | RAP (R$ ’000)
2024 | 412,095 | 58,649
2025 | 288,592 | 45,673
2026 | 199,530 | 31,852
2027 | 66,657 | 10,671
2028 | 211,319 | 17,749
Total | 1,178,193 | 164,594

Regulatory Transmission Revenue

Regulatory Transmission revenue – 1Q24
R$ ’000 | GT | Centroeste | Sete Lagoas
REVENUE | 398,861 | 13,362 | 3,669
Transmission operation revenue | 398,861 | 13,362 | 3,669
Taxes on revenue | -35,951 | -488 | -340
PIS and Pasep taxes | -6,410 | -87 | -61
Cofins tax | -29,527 | -401 | -279
ISS tax | -14 | 0 | 0
Sector charges | -81,262 | -309 | -246
Research and Development (R&D) | -2,852 | -126 | -43
Global Reversion Reserve (RGR) | 0 | -156 | -194
Energy Development Account (CDE) | -63,028 | 0 | 0
Electricity Services Inspection Charge (TFSEE) | -1,114 | -27 | -9
Other charges | -14,268 | 0 | 0
Net revenue | 281,648 | 12,565 | 3,083

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 36 |

Complem entary information

Cem ig D

MARKET OF CEMIG D (GWh)
QUARTER | CAPTIVE | TUSD – ENERGY (1) | ETD (2) | TUSD – DEMAND (3)
1Q22 | 5,738 | 5,397 | 11,136 | 36.2
2Q22 | 6,050 | 5,853 | 11,904 | 36.7
3Q22 | 5,942 | 5,790 | 11,733 | 34.7
4Q22 | 6,047 | 5,755 | 11,802 | 40.5
1Q23 | 5,723 | 5,566 | 11,289 | 38
2Q23 | 5,949 | 6,058 | 12,007 | 38.5
3Q23 | 5,812 | 6,028 | 11,840 | 39.2
4Q23 | 6,376 | 6,068 | 12,445 | 39.9
1Q24 | 5,930 | 6,097 | 12,027 | 40.4

(1) This refers to the ‘energy’ portion for calculation of the regulatory charges to Free Clients (‘Portion A’).

(2) Total energy distributed (Energia Total Distribuida).

(3) Sum of TUSD billed, according to demand contracted (‘Portion B’)

Cemig D | 1Q24 | 4Q23 | 1Q23 | Change % | Change %
Operational revenue (R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
Supply of electricity | 5,727 | 6,241 | 4,722 | –8.2% | 21.3%
Reimbursement to consumers of PIS, Pasep and Cofins tax credits | 323 | 339 | 696 | –4.7% | –53.6%
TUSD | 1,178 | 1,200 | 988 | –1.8% | 19.2%
CVA and Other financial components in tariff adjustments | 76 | -149 | 21 | – | –
Construction revenue | 859 | 1,053 | 658 | –18.4% | 30.5%
Adjustment to expectation of cash flow from reimbursable concession financial assets (New Replacement Value (VNR)) | 31 | 22 | 31 | 40.9% | 0.0%
Others | 513 | 505 | 394 | 1.6% | 30.2%
Subtotal | 8,707 | 9,211 | 7,510 | –5.5% | 15.9%
Deductions | 2,737 | 2,784 | 2,133 | –1.7% | 28.3%
Net revenue | 5,970 | 6,427 | 5,377 | –7.1% | 11.0%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 37 |

Cemig D | 1Q24 | 4Q23 | 1Q23 | Change % | Change %
Operational expenses (R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
People | 210 | 229 | 225 | -8.3% | –6.7%
Employee profit shares | 25 | 24 | 25 | 4.2% | 0,0%
Post-employment obligations | 96 | 109 | 73 | –11.9% | 31.5%
Materials | 23 | 43 | 25 | –46.5% | –8.0%
Outsourced services | 446 | 446 | 401 | 0.0% | 11.2%
Amortization | 217 | 238 | 195 | –8.8% | 11.3%
Operational provisions | 191 | 173 | 67 | 10.4% | 185.1%
Charges for use of the national grid | 875 | 796 | 729 | 9.9% | 20.0%
Electricity purchased for resale | 2,399 | 2,598 | 2,324 | –7.7% | 3.2%
Construction cost | 859 | 1,053 | 658 | –18.4% | 30.5%
Other expenses | 99 | 151 | 74 | –34.4% | 33.8%
Total | 5,440 | 5,860 | 4,796 | –7.2% | 13.4%

Cemig D | 1Q24 | 4Q23 | 1Q23 | Change % | Change %
Profit and loss accounts |  |  |  | 4Q – 1Q | 1Q – 1Q
Net revenue | 5,970 | 6,427 | 5,377 | –7.1% | 11.0%
Operational expenses | 5,440 | 5,860 | 4,796 | –7.2% | 13.4%
Operational profit | 530 | 567 | 581 | –6.5% | –8.8%
EBITDA | 746 | 805 | 775 | –7.3% | –3.7%
Net finance income (expenses) | -109 | -73 | -93 | 49.3% | 17,2%
Provision for income tax, Social Contribution tax and deferred income tax | -99 | -94 | -119 | 5.3% | –16.8%
Net profit | 322 | 401 | 370 | –19.7% | –13.0%

Cem ig GT

Cemig GT – Operational revenue | 1Q24 | 4Q23 | 1Q23 | Change % | Change %
(R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
Sales to final consumers | 737 | 912 | 1,105 | –19.2% | –33.3%
Wholesale supply | 429 | 642 | 475 | –33.2% | –9.7%
Charges for Use of the Transmission Network | 162 | 186 | 174 | –12.9% | –6.9%
Gain on financial updating of Concession grant fee | 129 | 97 | 135 | 33.0% | –4.4%
Transactions in electricity on CCEE | 28 | 37 | 23 | – | 21.7%
Construction revenue | 60 | 84 | 39 | –28.6% | 53.8%
Financial remuneration of transmission contractual assets | 149 | 121 | 175 | 23.1% | –14.9%
Other | 55 | 67 | 49 | –17.9% | 12.2%
Subtotal | 1,749 | 2,146 | 2,175 | –18.5% | –19.6%
Deductions | 346 | 394 | 419 | –12.2% | –17.4%
Net revenue | 1,403 | 1,752 | 1,756 | –19.9% | –20.1%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 38 |

Cemig GT – Operational expenses | 1Q24 | 4Q23 | 1Q23 | Change % | Change %
(R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
People | 83 | 87 | 86 | –4.6% | –3.5%
Employee profit shares | 9 | 9 | 10 | 0.0% | –10.0%
Post-employment obligations | 29 | 34 | 13 | –14.7% | 123.1%
Materials | 6 | 7 | 3 | –14.3% | 100.0%
Outsourced services | 56 | 47 | 53 | 19.1% | 5.7%
Depreciation and amortization | 84 | 87 | 81 | –3.4% | 3.7%
Operating provisions | 9 | 18 | 9 | –50.0% | 0.0%
Charges for use of the national grid | 73 | 67 | 63 | 9.0% | 15.9%
Electricity purchased for resale | 341 | 549 | 682 | –37.9% | –50.0%
Construction cost | 26 | 63 | 27 | –58.7% | –3.7%
Impairments | 23 | 0 | 46 | 0.0% | –50.0%
Put option – SAAG | 0 | 0 | 33 | – | –100.0%
Gain on disposal of investment | -43 | -288 | -30 | –85.1% | 43.3%
Other expenses | -3 | 20 | 12 | –115.0% | –125.0%
Total | 693 | 700 | 1,088 | –1.0% | –36.3%

Cemig GT – Income statements | 1Q24 | 4Q23 | 1Q23 | Change % | Change %
(R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
Net revenue | 1,403 | 1,752 | 1,756 | –19.9% | –20.1%
Operational expenses | 693 | 700 | 1,088 | –1.0% | –36.3%
Operational profit | 710 | 1052 | 668 | –32.5% | 6.3%
Gain (loss) in non–consolidated investees | 8 | 34 | 70 | –76.5% | –88.6%
EBITDA | 801 | 1,173 | 819 | –31.7% | –2.2%
Net finance income (expenses) | –69 | –9 | 6 | 666.7% | –1250.0%
Provision for income tax, Social Contribution tax and deferred income tax | –155 | –233 | –134 | –33.5% | 15.7%
Net profit | 494 | 844 | 610 | –41.5% | –19.0%

Cemig, Con solidated

Revenue from supply of electricity | 1Q24 | 4Q23 | 1Q23 | Change | Change
(GWh) |  |  |  | 4Q – 1Q | 1Q – 1Q
Residential | 3,250 | 3,289 | 2,985 | –1.2% | 8.9%
Industrial | 4,130 | 4,568 | 4,308 | –9.6% | –4.1%
Commercial | 2,548 | 2,441 | 2,343 | 4.4% | 8.7%
Rural | 624 | 847 | 526 | -26.3% | 18.6%
Other | 721 | 798 | 766 | –9.6% | –5.9%
Subtotal | 11,273 | 11,943 | 10,928 | –5.6% | 3.2%
Own consumption | 8 | 8 | 8 | 0.0% | 0.0%
Wholesale supply to other concession holders | 4,276 | 4,742 | 4,039 | –9.8% | 5.9%
TOTAL | 15,557 | 16,693 | 14,975 | –6.8% | 3.9%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 39 |

Consolidated – Revenue from supply of electricity | 1Q24 | 4Q23 | 1Q23 | Change | Change
(R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
Residential | 3,126 | 3,169 | 2,395 | –1.4% | 30.5%
Industrial | 1,299 | 1,470 | 1,440 | –11.6% | –9.8%
Commercial | 1,674 | 1,706 | 1,503 | –1.9% | 11.4%
Rural | 533 | 642 | 393 | –17.0% | 35.6%
Other | 541 | 587 | 445 | –7.8% | 21.6%
Subtotal | 7,173 | 7,574 | 6,176 | –5.3% | 16.1%
Retail supply not yet invoiced, net | –155 | 109 | 13 | –242.2% | –
Wholesale supply to other concession holders | 1,002 | 1,235 | 906 | –18.9% | 10.6%
TOTAL | 8,020 | 8,918 | 7,095 | –10.1% | 13.0%

Consolidated – Net revenue | 1Q24 | 4Q23 | 1Q23 | Change | Change
(R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
Sales to final consumers | 7,017 | 7,683 | 6,190 | –8.7% | 13.4%
Wholesale supply | 1,002 | 1,235 | 906 | –18.9% | 10.6%
TUSD | 1,169 | 1,193 | 980 | –2.0% | 19.3%
CVA and Other financial components in tariff adjustments | 76 | –149 | 21 | 0.0% | 261.9%
Reimbursement to consumers of PIS, Pasep, Cofins tax credits | 323 | 339 | 696 | –4.7% | –53.6%
Transmission revenue | 67 | 94 | 88 | –28.7% | –23.9%
Financial remuneration on transmission contract | 151 | 123 | 177 | 22.8% | –14.7%
Transactions in electricity on CCEE | 41 | 66 | 29 | –37.9% | 41.4%
Supply of gas | 920 | 953 | 1,124 | –3.5% | –18.1%
Construction revenue | 956 | 1,235 | 715 | –22.6% | 33.7%
Others | 772 | 729 | 638 | 5.9% | 21.0%
Subtotal | 12,494 | 13,501 | 11,564 | –7.5% | 8.0%
Taxes and charges reported as deductions from revenue | 3,436 | 3,544 | 2,917 | –3.0% | 17.8%
Net revenue | 9,058 | 9,957 | 8,647 | –9.0% | 4.8%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 40 |

Operational expenses | 1Q24 | 4Q23 | 1Q23 | Change | Change
(R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
People | 324 | 349 | 335 | –7.2% | –3.3%
Profit shares | 39 | 39 | 38 | 0.0% | 2.6%
Post-retirement obligations | 142 | 161 | 103 | –11.8% | 37.9%
Materials | 29 | 51 | 29 | -43.1% | 0.0%
Outsourced services | 519 | 511 | 467 | 1.6% | 11.1%
Electricity bought for resale | 3,511 | 3,957 | 3,444 | –11.3% | 1.9%
Depreciation and amortization | 329 | 351 | 303 | –6.3% | 8.6%
Provisions / adjustments for operational losses | 140 | 88 | 114 | 59.1% | 22.8%
Impairments | 23 | 0 | 46 | 0.0% | –50.0%
Charges for use of the national grid | 843 | 762 | 700 | 10.6% | 20.4%
Gas purchased for resale | 510 | 523 | 615 | –2.5% | –17.1%
Infrastructure construction costs | 921 | 1,211 | 703 | –23.9% | 31.0%
Provisions for client default | 76 | 102 | 8 | –25.5% | 850.0%
Other operational expenses, net | 103 | 187 | 66 | –44.9% | 56.1%
Gain on sale of generation plants | -43 | – | – | 0.0% | 0.0%
Gain on disposal of investment | 0 | –288 | –30 | –100.0% | –100.0%
Total | 7,466 | 8,004 | 6,941 | –6.7% | 7.6%

Consolidated – Finance income (expenses) | 1Q24 | 4Q23 | 1Q23 | Change | Change
(R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
Finance income |  |  |  |  |
Income from cash investments | 65 | 128 | 98 | –49.2% | –33.7%
Late fees on sale of electricity | 75 | 71 | 69 | 5.6% | 8.7%
Inflation adjustment – CVA | 2 | –5 | 27 | 0.0% | –92.6%
Monetary updating on court escrow deposits | 18 | 21 | 15 | –14.3% | 20.0%
Pasep and Cofins taxes charged on financial revenues | –41 | –56 | –43 | –26.8% | –4.7%
Gains on financial instruments – Swap | 42 | – | – | – | –
Foreign exchange variations – Loans and debentures | 0 | 118 | 104 | –100.0% | –100.0%
Others | 57 | 91 | 60 | –37.4% | –5.0%
| 218 | 368 | 330 | –40.8% | –33.9%
Finance expenses |  |  |  |  |
Borrowing cost – Loans and debentures | 219 | 258 | 242 | –15.1% | –9.5%
FX variations – Loans and debentures | 59 | – | – | – | –
Monetary updating – loans and financings | 55 | 28 | 72 | 96.4% | –23.6%
Charges and monetary updating on post–employment liabilities | 2 | 3 | 8 | –33.3% | –75.0%
Updating on PIS, Pasep and Cofins tax repayments | 15 | 23 | – | –34.8% | 0.0%
Losses on financial instruments – Swap | – | 117 | 13 | –100.0% | –100.0%
Other | 49 | 37 | 101 | 32.4% | -51.5%
| 399 | 466 | 436 | –14.4% | –8.5%
Net finance income (expenses) | –181 | –98 | –106 | 84.7% | 70.8%

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 41 |

Consolidated profit and loss account | 1Q24 | 4Q23 | 1Q23 | Change | Change
(R$ mn) |  |  |  | 4Q – 1Q | 1Q – 1Q
Net revenue | 9,058 | 9,957 | 8,647 | –9.0% | 4.8%
Operational expenses | 7,466 | 8,004 | 6,941 | –6.7% | 7.6%
Operational profit | 1,592 | 1,953 | 1,706 | –18.5% | –6.7%
Gain (loss) in non-consolidated investees | 91 | 139 | 153 | –34.5% | –40.5%
Adjustment of investments to fair value | – | 9 | – | –100.0% | –
EBITDA | 2,011 | 2,452 | 2,162 | –18.0% | –7.0%
Net finance income (expenses) | –181 | –98 | –106 | 84.7% | 70.8%
Provision for income tax, Social Contribution and deferred income tax | –349 | –117 | –355 | 198.3% | –1.7%
Net profit | 1,153 | 1,886 | 1,398 | –38.9% | –17.5%

Cash flow statement | 1Q24 | 1Q23
(R$ mn) |  |
Cash at start of period | 1,537 | 1,441
Cash from operations | 1,639 | 955
Net profit | 1,153 | 1,398
Recoverable taxes | 95 | –105
Depreciation and amortization | 329 | 303
CVA and Other financial components in tariff adjustments | –76 | –21
Gain (loss) in non–consolidated investees | –91 | –153
Adjustment of expectation of cash flow from financial and concession contract assets | –368 | –378
Interest and inflation adjustment | 212 | 159
Provisions for client default | 76 | 8
Provisions for contingencies | 127 | 78
Other provisions | 7 | 33
Deferred income tax and Social Contribution tax | 349 | 355
Reimbursement to consumers of PIS, Pasep and Cofins tax credits | –323 | –696
Gain on disposal of assets | -43 | –30
Dividends and Interest on Equity received | 56 | 100
Interest paid on loans and debentures | –64 | –98
Variation in fair value of derivative instruments – Swap and options | –42 | 13
FX variations – loans and debentures | 59 | –104
Post-retirement obligations | 145 | 111
Other | 38 | –18
Investment activity | -2,486 | –351
Cash investments | –1,598 | 387
Investees: acquisition of holdings, cash injections | –1 | –6
Reduction of share capital in investee | 46 | 0
Sale of generation assets | 101 | 30
PP&E/ Intangible and others/ gas distribution infrastructure | –1,034 | –762
Financing activities | 1,487 | –445
Leasing liabilities paid | –18 | –16
Loans and debentures paid | –441 | –429
Loans obtained | 1,946 | 0
Total cash available | 2,177 | 1,600

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 43 |

Statement of financial position – Assets | 1Q24 | 2023
(R$ mn) |  |
CURRENT |  |
Cash and cash equivalents | 2,177 | 1,537
Securities | 2,300 | 774
Consumers, Traders; Concession holders (transmission service) | 5,225 | 5,434
Concession financial and sector assets | 926 | 814
Contractual assets | 860 | 850
Recoverable taxes | 528 | 635
Income and Social Contribution taxes recoverable | 249 | 411
Derivative financial instruments | 410 | 368
Dividends receivable | 88 | 50
Public Lighting Contribution | 266 | 261
Other assets | 657 | 677
Assets classified as held for sale | 1,119 | 58
TOTAL, CURRENT | 14,805 | 11,869
NON–CURRENT |  |
Securities | 76 | –
Consumers, Traders; Concession holders (transmission service) | 42 | 43
Recoverable taxes | 1,325 | 1,319
Income and Social Contribution taxes recoverable | 295 | 445
Deferred income tax and Social Contribution tax | 3,018 | 3,045
Escrow deposits in litigation | 1,267 | 1,243
Accounts receivable from Minas Gerais State | 13 | 13
Concession financial and sector assets | 5,904 | 5,726
Contractual assets | 7,873 | 7,676
Investments | 3,462 | 4,632
Property, plant and equipment | 3,351 | 3,256
Intangible | 15,529 | 15,249
Right to Use | 386 | 398
Other assets | 96 | 86
TOTAL, NON–CURRENT | 42,637 | 43,131
TOTAL ASSETS | 57,442 | 55,000

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 44 |

Balance sheet – Liabilities | 1Q24 | 2023
(R$ mn) |  |
CURRENT |  |
Suppliers | 2,667 | 3,017
Regulatory charges | 453 | 487
Employees’ and managers’ profit shares | 207 | 165
Taxes | 535 | 644
Income tax and Social Contribution tax | 48 | 111
Interest on Equity, and dividends, payable | 3,311 | 2,924
Loans and debentures | 2,714 | 2,630
Payroll and related charges | 231 | 239
Public Lighting Contribution | 419 | 425
Post-retirement obligations | 282 | 329
Accounts payable for energy generated by consumers | 782 | 705
Amounts to be returned to consumers | 531 | 854
Leasing liabilities | 68 | 79
Other liabilities | 599 | 486
TOTAL, CURRENT | 12,847 | 13,095
NON–CURRENT |  |
Regulatory charges | 115 | 90
Loans and debentures | 8,912 | 7,201
Taxes | 358 | 362
Deferred income tax and Social Contribution tax | 1,174 | 1,112
Provisions | 2,264 | 2,200
Post-employment liabilities | 5,153 | 5,088
Amounts to be returned to consumers | 683 | 664
Leasing liabilities | 355 | 354
Other liabilities | 160 | 178
TOTAL, NON-CURRENT | 19,174 | 17,249
TOTAL LIABILITIES | 32,021 | 30,344
STOCKHOLDERS’ EQUITY |  |
Share capital | 11,007 | 11,007
Capital reserves | 2,250 | 2,250
Profit reserves | 13,041 | 13,041
Equity valuation adjustments | –1,658 | –1,648
Retained earnings | 775 | –
ATTRIBUTABLE TO CONTROLLING STOCKHOLDERS | 25,415 | 24,650
ATTRIBUTABLE TO NON-CONTROLLING STOCKHOLDER | 6 | 6
STOCKHOLDERS’ EQUITY | 25,421 | 24,656
TOTAL LIABILITIES AND EQUITY | 57,442 | 55,000

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 45 |

Discl aimer

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 events or results will occur 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 our 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, 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. Due to these and other factors, our 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 our staff nor any party related to any of them or their representatives shall have any responsibility for any losses that may arise as a result of 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 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).

Financial amounts are in R$ million (R$ mn) unless otherwise stated. Financial data reflect adoption of IFRS.

COMPANHIA ENERGÉTICA DE MINAS GERAIS S. | 46 |

4 - Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64 – Company Registry (NIRE): 31300040127

MINUTES OF THE ANNUAL AND EXTRAORDINARY SHAREHOLDERS’ MEETINGS

SIMULTANEOUSLY HELD ON APRIL 29, 2024

Date, time and place: April 27, 2024, at 2 p.m., remotely, according to CVM Resolution 81/2022.

Call notice and publications: The Meetings were duly called through the publication of the call notice on April 29, 2024, March 30, 2024, and April 1, 2024, on the “O Tempo” newspaper, pages 12, 12, and 16, respectively. The Management Report and the Financial Statements for 2023, as well as the respective supplementary documents, were widely disclosed by the media, made available to shareholders on March 21, 2024, and by the “O Tempo” newspaper, pages 1 to 37, Balance Sheet section, on April 19, 2024. The consolidated summary voting map of votes cast through remote voting forms was released to the market on April 26, 2024, and was available to shareholders for consultation on the Company’s IR website.

Attendance and quorum: The shareholders of Companhia Energética de Minas Gerais - CEMIG attended the Annual Shareholders’ Meeting - ASM (representing 95.18% of common shares and 54.92% of preferred shares) and the Extraordinary Shareholders’ Meeting - AGE (representing 95.19% of common shares and 16.14% of preferred shares). Vice President of Finance and Investor Relations Leonardo George de Magalhães; Legal Superintendent of Corporate Governance Virgínia Kirchmeyer Vieira; Fiscal Council Members João Vicente Silva Machado, Luiz Fernando de Medeiros Moreira and Lucas de Vasconcelos Gonzalez; Audit Committee Members Pedro Carlos de Mello and Roberto Tommasetti; and KPMG’s independent auditor Thiago Rodrigues de Oliveira attended the Meeting.

Presiding Board and installation: Danilo Antônio de Souza Castro, representative of the Minas Gerais State Government, presided over the meeting, and invited me, Virginia Kirchmeyer Vieira, to act as secretary. After the meeting was called to order, the attending shareholders unanimously approved the drawing up of these minutes in a summary form, and shareholders were given the option to cast votes, dissenting votes, or protest, which will be received by the Presiding Board, and registered in the minutes.

Agenda: Resolutions: At the Annual Shareholders’ Meeting: 1 - approve the Management Report and the Financial Statements for the year ended December 31, 2023, accompanied by the respective supplementary documents; 2 - approve the allocation of the profit for 2023 and the Company’s capital budget; 3 - elect the Board of Directors members to a new office term; 4 - elect the Fiscal Council members to a new office term; 5 - set the overall compensation for management, the Fiscal Council members and the Audit Committee members. At the Extraordinary Shareholders' Meeting: 6 - approve the Company’s capital increase through bonuses; 7 - authorize the consolidation of the Company’s Bylaws to reflect said change; 8 - approve the disposal of the direct equity interest of 45% held by Cemig Geração e Transmissão S.A. in the share capital of Aliança Geração de Energia S.A.; and 9 - authorize management to take all the necessary measures to formalize the resolutions above.

Reading of documents and receipt of votes: The reading of documents related to the matter of this meeting was unanimously waived by those present, as its content is fully known by the shareholders. The representative of the Minas Gerais State Government, Dr. Danilo Antônio de Souza Castro, received voting instructions through official letters SEDE/CCGE Numbers 2/2024, dated January 16, 2024; 24/2024, 25/2024, 26/2024, 27/2024, 28/2024, dated March 13, 2024; 30/2024, 31/2024, 32/2024, dated March 15, 2024; 45/2024, 49/2024, 52/2024, dated March 21, 2024; 85/2024, dated April 26, 2024; and 86/2024, dated April 28, 2024.

(Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024)

Resolutions:

1) To unanimously approve, according to the final voting map attached hereto, with 700,177,946 votes in favor, 0 votes against, and 191,312 abstentions, the Management Report and the Financial Statements for the year ended December 31, 2023, accompanied by the respective supplementary documents.

2) To unanimously approve, according to the final voting map attached hereto, with 700,369,258 votes in favor, 0 votes against, and 0 abstentions, the allocation of the profit for 2023, of the following proposal for the allocation of the Net Income for 2023, totaling R$5,764,273 thousand, the balance of realization of the cost attributed to PP&E, totaling R$6,217 thousand, the realization of the unrealized profit reserve, totaling R$834,603 thousand, as follows: (i) R$ 288,214 thousand to be held in Shareholders’ Equity, in the Legal Reserve account, as established by Law 6,404/1976; (ii) R$3,124,577 thousand to the payment of mandatory dividend to the Company’s shareholders, in two equal installments, the first of which by June 30, 2024, and the second by December 30, 2024, as follows: (a) R$2,591,459 thousand declared as Interest On Equity (IOE) and applied to the mandatory dividends, as resolved by the Executive Board upon the declaration of IOE in 2023; (b) R$533,118 thousand declared as mandatory dividends payable to shareholders registered in the Book of Registry of Registered Shares on the date of the holding of the ASM; (iii) R$2,295,105 thousand to be held in Shareholders’ Equity, in the Retained Earnings Reserve account, to guarantee the Company’s consolidated investments planned for 2024, as per the capital budget; (iv) R$62,594 thousand to be held in Shareholders’ Equity, in the Tax Incentives Reserve account, referring to tax incentives linked to investments in the Sudene region. The Unrealized Profit Reserve will remain with a balance of R$834,603, considering the reversal of the reserve created in 2022 and the new reserve in the same value created in 2023. Mandatory dividends will be paid in 2 (two) equal installments, the first of which by June 30, 2024, and the second by December 30, 2024, and the Executive Board will be responsible for determining the places and methods of payment.

3) To elect the Board of Directors members to a new office term of 2 (two) years, that is, until the Annual Shareholders’ Meeting to be held in 2026:

Before the start of the deliberation, it is hereby recorded that: (i) there was a timely request for the adoption of multiple voting made by shareholders of over 5% (five percent) of the voting capital; (ii) a member that would be the representative of the employees will not be elected, as such professional has already been chosen by peers in a specific electoral process, as provided for by Law 13,303/2016 and, therefore, an election through multiple voting does not apply to such Board Member. It is hereby recorded that José João Abdalla Filho was appointed by the shareholder FIA Dinâmica, and Nelson Fontes Siffert Filho was appointed by BNDESPAR, but they were not included in the Remote Voting Form due to CVM’s legal deadline. However, these appointments were disclosed through a notice to shareholders.

(i) In a separate voting session, with 607,309,187 votes in favor, 75,192,568 votes against, and 121,809,985 abstentions of the attributed shares, the following person was elected as representative of shareholders of preferred shares, pursuant to article 141, paragraph 4, item II of Brazilian Corporate Law: Aloísio Macário Ferreira de Souza, Brazilian citizen, married, accountant, holder of identification document 04.565.759-0, and inscribed in the register of individual taxpayers (CPF) under number 540.678.557-53.

(ii) Then, it was communicated, under the terms of the implementation of the multiple voting procedure, that the minimum number of shares to elect a member is 612,823,10. Therefore, through said procedure, the following persons were appointed and voted on, by a majority vote, as per the voting map attached hereto:

with appointment by the majority shareholder, according to Official Letters SEDE/CCGE Numbers 24/2024, 25/2024, 26/2024, 27/2024, 28/2024, dated March 13, 2024:

(Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024)

(a) Afonso Henriques Moreira Santos, Brazilian citizen, married, electrical engineer, holder of identification document MG737.136, SSP/MG, and inscribed in the register of individual taxpayers (CPF) under number 271.628.506-34, with 755,374,684 votes in favor;

(b) José Reinaldo Magalhães, Brazilian citizen, married, economist, holder of identification document number M-607363, SSP/MG, and inscribed in the register of individual taxpayers (CPF) under number 227.177.906-59; with 753,771,421 votes in favor;

(c) Márcio Luiz Simões Utsch, Brazilian citizen, widowed, bachelor of Law, holder of identification document number M-1.167.351, SSP/MG, and inscribed in the register of individual taxpayers (CPF) under number 220.418.776-34, with 753,114,641 votes in favor;

(d) Marcus Leonardo Silberman, Brazilian citizen, married, engineer, holder of identification document number 048.168-298, IFP/RJ, and inscribed in the register of individual taxpayers (CPF) under number 812.435.887-72; with 647,059,953 votes in favor;

(e) Ricardo Menin Gaertner, Brazilian citizen, married, lawyer, holder of identification document number 164.495, OAB/SP, and inscribed in the register of individual taxpayers (CPF) under number 253.726.208-54, with 160,661,304 votes in favor, under the terms of Paragraph 7 of Article 141 of Law 6,404/76 c/c Article 13, item I of Law 13,303/2016.

With appointment by the shareholder Fundo de Investimentos em Ações Dinâmica Energia-FIA Dinâmica, through letters sent, dated April 3, 2024 and April 18, 2024:

(f) Roger Daniel Versieux, Brazilian citizen, married, lawyer, holder of identification document number 80.710, OAB/MG, and inscribed in the register of individual taxpayers (CPF) under number 000.072.546-36, with 612,844,727 votes in favor;

(g) José João Abdalla Filho, Brazilian citizen, single, economist, holder of identification document number 1.439.471, SSP/SP, and inscribed in the register of individual taxpayers (CPF) under number 245.730.788-00, with 612.823.103 votes in favor;

With appointment by the shareholder BNDES Participações S.A.-BNDESPAR, as per Letter AMC/DEPAC2 04/2024, dated April 26, 2024:

(h) Nelson Fontes Siffert Filho, Brazilian citizen, married, economist, inscribed in the register of individual taxpayers (CPF) under number 770.209.607-15, with 574,054,488 votes in favor.

It is hereby recorded that candidate Nelson Fontes Siffert Filho, appointed by BNDESPAR, did not receive sufficient votes to be elected.

It is hereby recorded that BNDESPAR expressed disagreement in writing, separately, with the Presiding Board’s understanding on multiple voting, which was received and initialed by the Board. At the time, the Presiding Board clarified that the definition of the number of Board of Directors members is the charge of the shareholders, in such a way that the implementation of Article 141, Paragraph 7 of Brazilian Corporate Law is appropriate for 9 (nine) Board members, as established in the Company’s Bylaws, and included in the materials made available to shareholders for the holding of the Meeting.

It is also hereby recorded that Board Member Anderson Rodrigues, Brazilian citizen, divorced, electrical engineer, holder of identification document number M5399771 SSP/MG and inscribed in the register of individual taxpayers (CPF) under number 794.671.566-87, was reelected as representative of the Company’s employees, in a specific electoral process held on March 28, 2024.

By reason of the aforementioned resolution, the Board of Directors of Companhia Energética de Minas Gerais – CEMIG will now be composed as follows, all of whom with business address at Avenida

(Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024)

Barbacena, 1200, Edifício Júlio Soares, Santo Agostinho, CEP 30.190-131, in the city of Belo Horizonte, except for Marcus Leonardo Silberman, who resides abroad, with address to receive summons and notices, under the terms of Paragraph 2, Article 146 of Law 6,404/76, at Rua General Garzon, 22, salas 306 e 307, CEP 22.470-010, Lagoa, in the city and state of Rio de Janeiro:

Afonso Henriques Moreira Santos (majority shareholder)
José Reinaldo Magalhães (majority shareholder)
Márcio Luiz Simões Utsch (majority shareholder)
Marcus Leonardo Silberman (majority shareholder)
Ricardo Menin Gaertner (majority)
Aloísio Macário Ferreira de Souza (preferred shares)
Roger Daniel Versieux (minority shareholders)
José João Abdalla Filho (minority shareholders)
Anderson Rodrigues (employee representative)

It is hereby recorded that the Board of Directors members elected herein underwent previous analysis by the governance bodies, including the Company’s Statutory Audit Committee, with no obstacles to the election being recorded, and declared, in advance, that they do not incur in any prohibition to exercise a commercial activity, meet the legal requirements, and do not fit into any of the prohibitions described in Laws 6,404/1976 and 13,303/2016, and other applicable rules and regulations. They have also undertaken to know, observe, and respect the principles, ethical values, and regulations applicable in the Professional Code of Conduct and Declaration of Ethical Principles of Cemig, and in the Code of Ethical Conduct of the Public Servants and Senior Management of the Minas Gerais State Government. It is hereby recorded that all Board of Directors members appointed in the Remote Voting Form - RVF, elected by a majority vote, declared independence, under the terms of Exhibit K of CVM Resolution 80/2022.

4) To elect the Fiscal Council members to a new office term of 2 (two) years, that is, until the Annual Shareholders’ Meeting to be held in 2026:

(i) as per letter dated April 3, 2024, in a separate voting session, as sitting member, Michele da Silva Gonsales Torres, Brazilian citizen, married, lawyer, holder of identification document number 33347425-9, SSP/SP, and inscribed in the register of individual taxpayers (CPF) under number 324.731.878-00, and her respective alternate Paulo Roberto Bellentani Brandão, Brazilian citizen, married, lawyer, holder of identification document number 30.748.392-7, and inscribed in the register of individual taxpayers (CPF) under number 308.840.788-09, with 799,718,209 votes in favor, 318,899 votes against, and 4,274,637 abstentions; and

(ii) as per letter dated April 3, 2024, elected by the minority shareholders as sitting member, João Vicente Silva Machado, Brazilian citizen, single, lawyer, holder of identification document number 60.942, OAB/SC, and inscribed in the register of individual taxpayers (CPF) under number 043.915.559-21, and his respective alternate Ricardo José Martins Gimenez, Brazilian citizen, single, lawyer, holder of identification document number 13.147.299, and inscribed in the register of individual taxpayers (CPF) under number 103.381.768-61, with 243,292,358 votes in favor, 82,007,784 votes against, and 375,069,116 abstentions.

(iii) Appointed by the majority shareholder, State of Minas Gerais:

(a) as per Official Letters SEDE/CCGE Numbers 49/2024, dated March 21, 2024, and 2/2024, dated January 16, 2024, as sitting member, Carlos Roberto de Albuquerque Sá, Brazilian citizen, married, economist and accountant, holder of identification document 8842-0, CRE/RJ, and inscribed in the register of individual taxpayers (CPF) under number 212.107.217-91, and his respective alternate Carlos Alberto Arruda de Oliveira, Brazilian citizen, single, administrator, holder of identification document M415.606, issued by SSP/MG, and inscribed in the register of individual taxpayers (CPF)

(Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024)

under number 343.613.166-00, with 381,795,368 votes in favor, 82,007,784 votes against, and 236,566,106 abstentions;

(b) as per Official Letters SEDE/CCGE Numbers 45/2024, dated March 21, 2024, and 30/2024, dated March 15, 2024 as sitting member, Lucas de Vasconcelos Gonzalez, Brazilian citizen, married, bachelor of Law, holder of identification document MG 13.950.416, SSP/MG, and inscribed in the register of individual taxpayers (CPF) under number 095.574.846-16, and his respective alternate Luiz Fernando Medeiros Moreira, Brazilian citizen, married, accountant and administrator, holder of identification document MG 372627, SSP/MG and inscribed in the register of individual taxpayers (CPF) under number 216.681.166-34, with 381,795,368 votes in favor, 82,007,784 votes against, and 236,566,106 abstentions;

(c) as per Official Letters SEDE/CCGE Number 45/2024, dated March 21, 2024, and 30/2024, dated March 15, 2024, as sitting member, Pedro Bruno Barros de Souza, Brazilian citizen, married, administrator, holder of identification document 4.389.771, SSP/DF, and inscribed in the register of individual taxpayers (CPF) under number 069.734.746-08, and his respective alternate Rodrigo Rodrigues Tavares, Brazilian citizen, married, lawyer, holder of identification document 11.884.723, SSP/MG, and inscribed in the register of individual taxpayers (CPF) under number 068.856.846-78, with 381,795,368 votes in favor, 82,007,784 votes against, and 236,566,106 abstentions.

By reason of the aforementioned resolution, the Fiscal Council of Companhia Energética de Minas Gerais – CEMIG is now composed as follows, all of whom with business address at Avenida Barbacena, 1200, Edifício Júlio Soares, Santo Agostinho, CEP 30.190-131, in the city of Belo Horizonte.

Sitting Members
Carlos Roberto de Albuquerque Sá (majority shareholder)
Lucas de Vasconcelos Gonzalez (majority shareholder)
Pedro Bruno Barros de Souza (majority shareholder)
Michele da Silva Gonsales Torres (preferred shares)
João Vicente Silva Machado (minority shareholder)
Alternates
Carlos Alberto Arruda de Oliveira (majority shareholder)
Luiz Fernando Medeiros Moreira (majority shareholder)
Rodrigo Rodrigues Tavares (majority shareholder)
Paulo Roberto Bellentani Brandão (preferred shares)
Ricardo José Martins Gimenez (minority shareholders)

It is hereby recorded that the elected Board of Directors members underwent previous analysis by the governance bodies, including the Company’s Statutory Audit Committee, with no obstacles to the election being recorded, and declared, in advance, that they do not incur in any prohibition to exercise a commercial activity, meet the legal requirements, and do not fit into any of the prohibitions described in Laws 6,404/1976 and 13,303/2016, and other applicable rules and regulations. They have also undertaken to know, observe, and respect the principles, ethical values, and regulations applicable in the Professional Code of Conduct and Declaration of Ethical Principles of Cemig, and in the Code of Ethical Conduct of the Public Servants and Senior Management of the Minas Gerais State Government.

5) To approve, by a majority vote, as per the final voting map attached hereto, with 613,707,421 votes in favor, 86,652,640 votes against, and 9,197 abstentions, the setting of the overall compensation for management, the Fiscal Council members, and the Audit Committee members, in the amount of R$35,265,000.00 (thirty-five million, two hundred and sixty-five thousand reais) for the cycle between April 2024 and March 2025, with individual distribution to be resolved on by the Board of Directors.

(Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024)

“Shareholder BNDES Participações S.A.-BNDESPAR stated the following: “Shareholder BNDES Participações S.A. hereby casts its vote against the management compensation proposal, as it believes that although the overall compensation is in line with the market, the existence of fixed compensation for the fiscal council alternate members is not in line with best corporate governance practices and should be avoided.”

6) To unanimously approve, according to the final voting map attached hereto, with 700,451,437 votes in favor, 0 votes against, and 0 abstentions, the capital increase through share-based bonuses:

(i) approval of the Company’s Share Capital increase from R$11,006,853,440.00 (eleven billion, six million, eight hundred and fifty-three thousand, four hundred and forty reais) to R$14,308,909,475.00 (fourteen billion, three hundred and eight million, nine hundred and nine thousand, four hundred and seventy-five reais), issuing 660,411,207 (six hundred and sixty million, four hundred and eleven thousand, and two hundred and seven new shares, of which 220,754,287 (two hundred and twenty million, seven hundred and fifty-four thousand, two hundred and eighty-seven) registered common shares, at the nominal value of R$5.00 (five reais) each and 439,656,920 (four hundred and thirty-nine million, six hundred and fifty-six thousand, nine hundred and twenty) registered preferred shares, at the nominal value of R$5.00 (five reais) each, through the capitalization of R$1,856,628,405.00 (one billion, eight hundred and fifty-six million, six hundred and twenty-eight thousand, four hundred and five reais), arising from the capital reserve and R$1,445,427,630.00 (one billion, four hundred and forty-five million, four hundred and twenty-seven thousand, six hundred and thirty reais) from the retained earnings reserve, by means of share-based bonuses, distributing to shareholders, as a consequence, a bonus of 30% consisted of new shares of the same type of the former ones, at the nominal value of R$5.00 (five reais);

(ii) (1) item “i” approved by the Shareholders’ Meeting, to authorize the change of the “head section” of Article 4 of the Bylaws, to the new wording as follows: “Article 4 - The Company’s Share Capital is R$14,308,909,475.00 (fourteen billion, thee hundred and eight million, nine hundred and nine thousand, four hundred and seventy-five reais), represented by: a) 956,601,911 (nine hundred and fifty-six million, six hundred and one thousand, nine hundred and eleven) registered common shares, at the nominal value of R$5.00 (five reais) each; and b) 1,905,179,984 (one billion, nine hundred and five million, one hundred and seventy-nine thousand, nine hundred and eighty-four) registered preferred shares, at the nominal value of R$5.00 (five reais) each”;

(2) the following measures related to the bonuses, to be taken by the Executive Board: a) to grant a 30.00% bonus consisting of new shares of the same type of the former ones, at the nominal value of R$5.00 (five reais), to shareholders of shares that are part of the share capital, registered in the “Book of Registry of Registered Shares” on the date of the holding of the Shareholders’ Meeting that will resolve on this proposal; b) To determine that all shares resulting from said bonus will be entitled to the same rights granted to shares that gave rise to the bonus, excluding resolved payments; c) to trade in, on the stock exchange, whole numbers of registered shares resulting from the sum of remaining fractions arising from said bonus; and d) to proportionally distribute to shareholders the net result of the sale of fractions on the same date of payment of the second installment of mandatory dividends for 2023, i.e., by December 30, 2024.

7) To unanimously approve, according to the final voting map attached hereto, with 700,451,437 votes in favor, 0 votes against, and 0 abstentions, the consolidation of the Company’s Bylaws, attached hereto as Exhibit 1, to reflect the aforementioned changes.

8) To approve, by a majority vote, as per the final voting map attached hereto, with 618,443,653 votes in favor, 82,007,784 votes against, and 0 abstentions, the sale of the direct equity interest of 45% held by Cemig Geração e Transmissão S.A. in the share capital of Aliança Geração de Energia S.A. to Vale S.A., according to the information about the transaction contained in Exhibit 12 to the Management Proposal; and

(Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024)

9) To authorize, by a unanimous vote, according to the final voting map attached hereto, with 700,451,437 votes in favor, 0 votes against, and 0 abstentions, Management to practice all acts necessary for the implementation of the aforementioned resolutions.

Closure: After offering the floor to anyone who intended to speak, as there were no other declarations, the minutes were drawn up, read, unanimously approved, and signed by me, Virginia Kirchmeyer Vieira, Secretary, according to the applicable law.

Virginia Kirchmeyer Vieira, Secretary

Danilo Antônio de Souza Castro, Chair and Representative of the Minas Gerais State Government

Leonardo George de Magalhães, Chief Financial and Investor Relations Officer

João Vicente Silva Machado, Luiz Fernando de Medeiros Moreira, and Lucas de Vasconcelos Gonzalez, by the Fiscal Council

Pedro Carlos de Mello and Roberto Tommasetti, by the Audit Committee

Thiago Rodrigues de Oliveira, by KPMG.

Christiano Marques de Godoy, by FIDELITY COMMON CONTRACTUAL FUND II/FIDELITY GLOBAL EMERGING MARKETS EQUITY FUND, STICHTING PENSIOENFONDS VOOR DE ARCHITECTENBUREAUS; STICHTING JURIDISCH EIGENDOM FGR VGZ; AMUNDI ESG GLOBAL LOW CARBON FUND; CPR INVEST; AMUNDI INDEX SOLUTIONS; AMUNDI FUNDS; STICHTING BEDRIJFSTAKPENSIOENFONDS V H S, A,ENGLASZETBEDRIJF; PREDIQUANT A3; STICHTING PENSIOENFONDS VAN DE NEDERLANDSCHE BANK N.V.; STICHTING PENSIOENFONDS GASUNIE; BEST INVESTMENT CORPORATION; M&G FUNDS 1 MFS GLOBAL EMERGING MARKETS EQUITY FUND.

Daniel Alves Ferreira, by FUNDO DE INVESTIMENTO DE AÇÕES DINÂMICA ENERGIA.

Raphael Gustavo Ferreira, by BNDES Participações S.A.-BNDESPAR.

Remote Voting Form: Document filed in the Company, pursuant to article 130, paragraph 1, subitem “a”, of Law 6,604/76.

(Minutes of the Annual and Extraordinary Shareholders’ Meetings held on April 29, 2024)

5 - Notice to the Market dated May 8, 2024 – Moody's upgrades Cemig ratings

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64

Company Registry (NIRE): 31300040127

NOTICE TO THE MARKET

Moody's upgrades Cemig ratings

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“Cemig” or “Company”), a publicly held company with shares traded on the stock exchanges of São Paulo, New York and Madrid, hereby informs the Brazilian Securities and Exchange Commission – CVM, B3 S.A. – Brasil, Bolsa, Balcão (“B3”), and the market in general that the credit rating agency Moody’s Local BR (“Moody’s Local”) has upgraded the Company’s corporate credit rating and the issuer ratings of its wholly-owned subsidiaries Cemig Distribuição S.A. and Cemig Geração e Transmissão S.A. on the national scale, from “AA.br“ to “AA+.br” with a stable outlook.

Accordingly, the Company now holds the same ratting (AA+.br) on the national scale from the three major credit rating agencies, namely Moody’s, S&P, and Fitch.

The Company’s current rating reflects the recognition of the results achieved by Cemig in recent past years, the significant improvement of its financial and operational indicators, and its risk management.

The Company reaffirms its commitment to increase liquidity and improve its capital structure by extending its debt profile, strategically managing its liabilities, and reducing its capital cost.

Belo Horizonte, May 08, 2024.

Leonardo George de Magalhães

Vice President of Finance and Investor Relations

6 - Notice to Shareholders dated June 17, 2024 - First Payout Installment

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

CORPORATE TAXPAYER’S ID (CNPJ): 17.155.730/0001-64

Company Registry (NIRE): 31300040127

NOTICE TO SHAREHOLDERS

First Payout Installment

We hereby inform our shareholders that CEMIG will pay the first payout installment related to fiscal year 2023, as follows, on June 28, 2024:

Type of Payout | Approval Date | Date “with rights” | Date “ex-rights” | Per common/preferred share (R$) | Total Amount (R$ thousand) |
Interest on Equity | 12/14/2023 | 12/21/2023 | 12/22/2023 | 0.300510398 | 661,281 |
Interest on Equity | 09/20/2023 | 09/25/2023 | 09/26/2023 | 0.094971448 | 208,987 |
Interest on Equity | 06/20/2023 | 06/23/2023 | 06/26/2023 | 0.096953702 | 213,349 |
Interest on Equity | 03/22/2023 | 03/27/2023 | 03/28/2023 | 0.096392018 | 212,113 |
Dividends | 04/29/2024 | 04/29/2024 | 04/30/2024 | 0.121134301 | 266,559 |
TOTAL | 0.709961867 | 1,562,289 |

As for the payment of Interest on Equity - IoE, a 15% income tax will be withheld, except for shareholders exempt from said withholding, pursuant to legislation in force.

Shareholders whose bank details are updated with the Custodian Bank of CEMIG's Registered Shares (Banco Itaú Unibanco S.A.) will have their credits automatically made on the first payment day. If a shareholder does not receive the aforementioned credit, he/she shall go to a branch of Banco Itaú Unibanco S.A. to update his/her registration data. The payment related to the shares held in custody by Companhia Brasileira de Liquidação e Custódia - CBLC will be credited to that entity, and the Depository Brokers will be responsible for transferring them to shareholders.

Belo Horizonte, June 17, 2024.

Leonardo George de Magalhães

Vice President of Finance and Investor Relations

7 - Notice to Shareholders dated June 18, 2024 - Declaration of Interest on Equity

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

Corporate Taxpayer’s ID (CNPJ): 17.155.730/0001-64

Company Registry (NIRE): 31300040127

NOTICE TO SHAREHOLDERS

Declaration of Interest on Equity

We hereby inform our shareholders that the Executive Board approved the declaration of Interest on Equity - IoE. Detailed information about the payment is as follows:

1.
Gross amount: R$429,709,000.00 (four hundred and twenty-nine million, seven hundred and nine thousand reais).

2.
Gross amount per share: R$0,15021208844 per share, to be paid with the mandatory minimum dividend for 2024, with a 15% withholding income tax, except for shareholders exempt from said tax, under the law in force.

3.
Date “with rights”: shareholders of record on June 21, 2024 holding common and preferred shares will be entitled to the payment.

4.
Date “ex-rights”: June 24, 2024.

5.
Payment date: 2 (two) equal installments, the first of which to be paid by June 30, 2025, and the second by December 30, 2025.

Shareholders whose shares are not held in custody at CBLC and whose registration data is outdated are advised to go to a branch of Banco Itaú Unibanco S.A. (the institution managing CEMIG’s Registered Share System) bearing their personal documents for the due update of their registration data.

Belo Horizonte, June 18, 2024.

Leonardo George de Magalhães

Chief Financial and Investor Relations Officer

8 - Notice to the Market dated June 27, 2024 – CEMIG suspends the auction of four SHPs/HPPs

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

CORPORATE TAXPAYER’S ID (CNPJ): 17.155.730/0001-64

Company Registry (NIRE): 31300040127

CEMIG GERAÇÃO E TRANSMISSÃO S.A.

PUBLICLY-HELD COMPANY

CORPORATE TAXPAYER’S ID (CNPJ): 06.981.176/0001-58

Company Registry (NIRE): 31300020550

NOTICE TO THE MARKET

CEMIG suspends the auction of four SHPs/HPPs

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG”), a publicly held company with shares traded on the stock exchanges of São Paulo, New York, and Madrid, and CEMIG GERAÇÃO E TRANSMISSÃO S.A. (“CEMIG GT”), a publicly held company and a wholly-owned subsidiary of CEMIG, hereby inform the Brazilian Securities and Exchange Commission (“CVM”), B3 S.A. – Brasil, Bolsa, Balcão (“B3”), and the market in general that, in continuity to the Notice to the Market disclosed on April 01, 2024, it has suspended the auction at B3 for the Onerous Transfer of the Right to Operate the Electric Power Generation Services for its plants Machado Mineiro, Sinceridade, Martins and Marmelos. The suspension was due to the lack of proposals according to the Auction Notice.

The Company will reassess the project and reaffirms its commitment in pursuing the optimization of its asset portfolio, operational efficiency and capital allocation.

CEMIG and CEMIG GT reaffirm their commitment to keeping shareholders, the market in general, and other stakeholders duly and timely informed about this matter, according to the applicable regulation, and in compliance with the restrictions outlined in CVM rules and other applicable laws.

Belo Horizonte, June 27, 2024.

Leonardo George de Magalhães

Chief Financial and Investor Relations Officer