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    Carolina Carneiro • Banco Safra

    Carolina Carneiro's questions to ENERGY CO OF MINAS GERAIS (CIG) leadership

    Carolina Carneiro's questions to ENERGY CO OF MINAS GERAIS (CIG) leadership • Q2 2025

    Question

    Carolina Carneiro from Banco Safra asked about Cemig's capital allocation strategy, including its focus for future transmission auctions, and sought updates on the renewal of key concessions. She also followed up on the financial implications of the recent Supreme Court ruling on PIS/COFINS and ICMS.

    Answer

    CEO Reynaldo Pasanesi Filho reiterated the company's commitment to its BRL 59 billion investment plan, with a primary focus on the distribution segment within Minas Gerais to address unmet load and distributed generation needs. He noted that concession renewals depend on regulatory processes and potential capital structure changes by the state. CFO Andrea Marcus de Almeda added that while the Supreme Court ruling is positive, it is too early to quantify the financial impact for Cemig.

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    Carolina Carneiro's questions to ENERGY CO OF MINAS GERAIS (CIG) leadership • Q2 2025

    Question

    Carolina Carneiro from Banco Safra inquired about Cemig's capital allocation strategy, particularly regarding future transmission auctions and other segments beyond the recent GSF auction. She also asked for an update on major concession renewals and the potential impact of the recent Supreme Court ruling on PIS/COFINS.

    Answer

    CEO Reynaldo Pasanesi Filho reiterated the company's focus on its BRL 59 billion investment plan, with the majority allocated to the distribution segment in Minas Gerais to address unmet load and distributed generation needs. He noted that concession renewals depend on regulatory and governmental decisions, highlighting ANEEL's positive recommendation for Saccar Vale. Regarding the tax ruling, he confirmed it is a positive development but stated it is too early to quantify the financial impact pending the final court decision.

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    Carolina Carneiro's questions to ENERGY CO OF MINAS GERAIS (CIG) leadership • Q2 2025

    Question

    Carolina Carneiro from Banco Safra inquired about Cemig's capital allocation strategy, particularly its focus for future transmission auctions and updates on major concession renewals following the GSF auction. She also asked for commentary on the recent Supreme Court ruling regarding PIS/COFINS credits.

    Answer

    CEO Reynaldo Pasanesi Filho responded, emphasizing the company's BRL 59 billion investment plan (2019-2029) which prioritizes the distribution segment within Minas Gerais to address unmet load and enhance grid resilience. On concessions, he explained the current path is renewal per quotas as recommended by ANEEL, which avoids cash disbursement. Regarding the court ruling, he confirmed it is a positive development but stated the company must await the final text to quantify the financial impact.

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