Conference Call

1th Quarter 2014

Highlights
Energy consumption increased by 7.8% between 1Q13 and 1Q14 due to higher temperatures in the
quarter; Captive Market growth 6.7% in 1Q14.
Non-technical energy losses in the last 12 months came to 42.4% of billed energy in the low-voltage
market, 0.2 p.p. up on the 12 months ended December 2013. In comparison with March 2013, there
was a 2.5 p.p. decline;
Collections stood at 94.6% of billed consumption in 1Q14, 6.4 p.p. down on the same quarter last
year;
Provisions for past due accounts (PCLD) represented 1.0% of gross billed energy, totaling R$25.3
million, 0.2 p.p. down in 1Q13;

OPERATING
Net revenue, excluding construction revenue, increased by 20.1% over 1Q13, reaching R$2,118.7
million;
Consolidated EBITDA came to R$452.9 million, 27.5% higher than in 1Q13;
Net income totaled R$180.5 million in 1Q14, 129.5% up year-on-year;
Consolidated net debt closed 1Q14 at R$5,341.8 million, with a net debt/EBITDA ratio of 2.90x;

FINANCIAL
CDE FUNDS
Transfer of CDE funds to the distributors to settle energy purchase commitments with the CCEE;
The company recognized reduction of expenses with parcel A of R$181.2 million, R$556.7 million and
R$423.1 million, respectively, for January, February and March, giving R$1,161.0 million for the
quarter as a whole.



Energy Consumption
Distribution Quarter
1
Note: To preserve comparability in the market approved by Aneel in the tariff adjustment process.
the billed energy of the free customer CSN has been considered back.
TOTAL MARKET (GWh)
Industrial
captive
4.9%
Free
17.1%
Others
captives
13.2%
Commercial
captive
27.6%
Residential
captive
37.3%
+7.8%
6,841
6,180
27.0C
28.3C
1Q12
6,291
7,374
1Q11
26.9C
27.8C
+5.4% a.a.
1Q13 1Q14
Total Market
RESIDENTIAL INDUSTRIAL COMMERCIAL OTHERS TOTAL
1Q13 1Q14
ELECTRICITY CONSUMPTION (GWh)
TOTAL MARKET QUARTER
1Q13 1Q14 1Q13 1Q14 1Q13 1Q14 1Q13 1Q14
FREE CAPTIVE
+7.8%
5,572
6,117
6,841
1,269
1,257
7,374
+6.1%
913
970
966
53
55
1,025
+8.3%
2,093
215
233
2,267
359 360
1,359
1,000
970
1,330
+13.6%
2,423
2,752
-2.1%
1,877 2,034
Collection
COLLECTION RATE BY SEGMENT
Quarter
1Q13 1Q14
Total Retail Large Clients Public Sector
101.0%
94.6%
100.2%
93.2%
104.7%
98.0%
97.2%
95.4%
PCLD/Gross Revenue
(Billed Sales) - 12 Months
mar/11 mar/1 3 mar/12
3.0%
2.8%
1.8%
-1.0 p.p.
Loss Prevention
LOSS (12 MONTHS)
% Non-technical
losses/ LV Market
Non-technical losses GWh Technical losses GWh
% Non-technical losses /
LV Market - Regulatory
42.2%
43.7%
32.0%
5,738
2,614
8,552
44.2%
Mar/13 Jun/13
42.4%
6,029
2,618
8,748
Dec/13
5,955
2,793
8,352
Mar/13
44.9%
5,953
2,629
8,647
Sep/13
5,905
2,647
8,582
- 2.5%
INSTALLED METERS
(Thousand Units)
Communities
Without Communities
2009 2010 2011 2012 2013
351
2010 2011 2013 2012
30
7
79
102
227
122
432
197
115
272
330
Mar-14
109
467
358
Losses Combat Actions
APZ Results
By March. the program coverd 446 thousand customers in 27 APZs. which ones 22 had
the results calculated:
-29.5 %
* Reflects the results accumulated until mar/14 since the begining of the implementation of each APZ. Subtitle: N = N / Y = Yes.
Before Current Before Current
Curicica 2010 12.967 38% 10% 95% 97% N
Realengo/Batan 2010/2013 18.967 38% 13% 94% 96% N/Y
Cosmos 1 2012 18.395 49% 16% 92% 95% N
Cosmos 2 2012 19.737 46% 16% 92% 104% N
Sepetiba 2012 20.650 57% 31% 88% 95% N
Caxias 1 e 2 2012 14.186 59% 32% 83% 92% N
Belford Roxo 1 e 2 2013 21.559 63% 23% 88% 93% N
Vigrio Geral 2012 17.616 35% 13% 94% 99% N
Caxias 3 2013 17.897 43% 18% 96% 93% N
Nova Iguau 1 2013 33.485 49% 28% 90% 96% N
Nova Iguau 2 2013 21.757 46% 22% 88% 96% N
Nilpolis 2013 10.396 42% 29% 90% 95% N
Nilpolis Convencional 2010 11.158 38% 12% 94% 96% N
Ricardo de Albuquerque 2013 25.703 35% 14% 94% 96% N
Mesquita 2013 9.038 51% 24% 84% 95% N
Cabritos/Tabajaras/Cha
pu
Mangueira/Babilnia/Sa
nta Marta
2012 8.125 68% 12% 62% 96% Y
Coelho da Rocha 2013 18.407 41% 11% 92% 96% N
Caxias 4 2013 16.971 42% 20% 90% 90% N
Alemo 2014 13.519 63% 34% 91% 92% Y
Cidade de Deus 1 2011 6.211 52% 17% 23% 98% Y
Tomazinho 2013 12.712 43% 20% 87% 93% N
Formiga/Borel/Macaco/
Salgueiro/Andarai
2012 15.454 51% 27% 50% 87% Y
Mdia 364.910 50% 21% 89% 96%
Neighborhood
Implementation
Year
Number of
clients
Non-Technical Losses / Grid
Load*
Collection Rate
UPP Area
Net Revenue
Industrial (Captive)
5.3%
NET REVENUE (R$MN)
Generation
9.4%
Distribution
77.6%**
NET REVENUE BY SEGMENT (1Q14)*
Commercialization
13.1%
* Eliminations not considered
** Construction revenue not considered
NET REVENUE FROM DISTRIBUTION (1Q14)
Commercial (Captive)
30.0%
Others (Captive) 11.2%
Network Use (TUSD)
(Free + Concessionaires)
6.7%

Residential (Captive)
46.8%
Construction Revenue
Revenue w/out construction
revenue
1Q14 1Q13
1,765
1,834
+18.8%
2,119
6,602
1,922
2,282
157
164
CDE Fund
9
Involuntary exposure together with unfavorable hydrological scenario and PLD in
the ceiling, put the cash flow under pressure in the short term
Decree
8203
(jan/14)
Decree
8221
(apr/14)
Quotas Involuntary Exposure

A-1 Auction Involuntary Exposure
Involuntary Exposure New
Energy

Availabilitie Contracts
Hydrological Risk
A-0 Auction Contract NA
(84,6)
(1.245,7)
1.161,0
Short-Term
Energy
(Spot)
Balance CDE Fund
Total
Aporte CDE -1Q14 (R$ MN)
Operating Costs and Expenses
Manageable
(distribution): R$ 351
(18.5%)
Generation and
Commercialization: R$ 315
(16.6%)
Non manageable
(distribution**): R$ 1,227
(64.8%)
* Eliminations not considered
** Construction revenue not considered
DISTRIBUTION PMSO COSTS (R$MN)
COSTS (R$MN)*
1Q14
R$ MN 1Q13 1Q14 Var.
PMSO (184.0) (187.8) 2.1%
Provisions (45.2) (65.3) 44.3%
PCLD (29.0) (25.3) -12.8%
Contingencies (16.2) (40.0) 146.6%
Depreciation (80.6) (85.4) 6.0%
Other operational/
revenues expenses
(7.3) (12.1) 66.3%
Total (317.1) (350.6) 10.6%
184
188
+2.1%
1Q14 1Q13
EBITDA
EBITDA BY SEGMENT (R$ MN)
1Q13 1Q14
453
355
+27.5%
Generation and Commercialization
Distribution
44.0%
56.0%
36.2%
63.8%
64.9%
Consolidated EBITDA (R$ MN) 1Q14 1Q13 Var.%
Distribution 254.8 228.1 11.7%
EBITDA Margin (%) 14.6% 14.3% 0.2 p.p.
Generation 182.8 119.3 53.2%
EBITDA Margin (%) 86.5% 82.1% 4.4 p.p.
Commercialization 17.5 9.9 76.9%
EBITDA Margin (%) 6.0% 6.3% -0.3 p.p.
Others and eliminations (2.2) (2.2) 0.4%
Total 452.9 355.1 27.5%
EBITDA Margin (%) 21.4% 20.1% 1.2 p.p
EBITDA
EBITDA
1Q13
EBITDA
1Q14
Net
Revenue
Non-
Manageable
Costs
Manageable
Costs
(PMSO)
Provisions
Regulatory
Assets and
Liabilities
Regulatory
Assets and
Liabilities
Adjusted
EBITDA
1Q13
Adjusted
EBITDA
1Q14
Adjusted EBITDA 1Q13 / 1Q14
(R$ MN)
Other
operacional
revenues
Equity
Pikup
EBITDA
Ajustado -
2T11
Ativos e
Passivos
Regulatrios
EBITDA -
2T11
Receita
Lquida
Custos No
Gerenciveis
Custos
Gerenciveis
(PMSO)
Provises EBITDA -
2T12
Ativos e
Passivos
Regulatrios
EBITDA
Ajustado -
2T12
101
456
355
354
(217)
(8)
(18)
435
- 4.7%
+ 27.5%
453
(13)
(4)
(20)
(2)
EBITDA
Ajustado -
2T11
Ativos e
Passivos
Regulatrios
EBITDA -
2T11
Receita
Lquida
Custos No
Gerenciveis
Custos
Gerenciveis
(PMSO)
Provises EBITDA -
2T12
Ativos e
Passivos
Regulatrios
EBITDA
Ajustado -
2T12
Net Income
1Q13 1Q14 EBITDA Financial
Result
Taxes Depreciation
ADJUSTED NET INCOME
1Q13 / 1Q14 (R$ MN)
Regulatory
Assets and
Liabilities
Regulatory
Assets and
Liabilities
Adjusted Net
Income
1Q13
Adjusted Net
Income
1Q14
+129.5%
145
67
79
60
(51)
(5)
181
(12)
168
+15.9%
98
Indebtedness
Average Term: 3.9 years
AMORTIZATION SCHEDULE* (R$ MN)
Nominal Cost Real Cost
NET DEBT
With Pension Fund
*ConsideringHedge
* Principal only
COST OF DEBT
2012
2011
1Q14
2007 2008 2009 set/10
Custo Real Custo Nominal
2013
Net Debt / EBITDA
2009 2010 2011 2012
Custo Nominal Custo Real
2009 2010 2011 2012
Custo Nominal Custo Real
2009 2010 2011 2012
Custo Nominal Custo Real
Mar/13
2.24%
8.21%
3.63%
10.01%
4.25%
11.03%
9.68%
3.55%
TJLP
13.5%
CDI
73.9%
IPCA
10.7%
Others
1.5%
U$/Euro
0.4%
2014 2015
494
779
1,017
811
899
441 450
450
565
2016 2017 2018 2019 2020 2021
After
2021
2009
2010
Custo Real
Custo Real
2.84
2.90
Mar/14 Dec/13
5,096.8
5,249.5
5,341.8
2.73
2009
2010
Custo Real
Custo Real
Investments
CAPEX (R$ MN)
CAPEX BREAKDOWN
(R$ MN)
1Q14
Generation
3.5
Administration
3.3
Others
2.8
Develop. of
Distribution
System
106.6
Losses
Combat
48.9
Investments in Electric Assets (Distribution)
Commerc./
Energy Eficiency
10.5
2010
929
701
2011 2012
797
694
103
519
182
775
154
713
132
845
+7.9%
2013 2014E
163
1Q13 1Q14
36
17
127 158
1,055
176
Dividends
2007 2008 2009 2010 2011 2012 2013
100% 100%
76%
81%
100%
86%
85%
50%
Mi ni mal Di vi dends Pol icy Payout
Important Notice
This presentation may include declarations that represent forward-looking statements according to Brazilian regulations and
international movable values. These declarations are based on certain assumptions and analyses made by the Company in
accordance with its experience. the economic environment. market conditions and future events expected. many of which
are out of the Companys control. Important factors that can lead to significant differences between the real results and the
future declarations of expectations on events or business-oriented results include the Companys strategy. the Brazilian and
international economic conditions. technology. financial strategy. developments of the public service industry. hydrological
conditions. conditions of the financial market. uncertainty regarding the results of its future operations. plain. goals.
expectations and intentions. among others. Because of these factors. the Companys actual results may significantly differ
from those indicated or implicit in the declarations of expectations on events or future results.
The information and opinions herein do not have to be understood as recommendation to potential investors. and no
investment decision must be based on the veracity. the updated or completeness of this information or opinions. None of the
Companys assessors or parts related to them or its representatives will have any responsibility for any losses that can
elapse from the use or the contents of this presentation.
This material includes declarations on future events submitted to risks and uncertainties. which are based on current
expectations and projections on future events and trends that can affect the Companys businesses. These declarations
include projections of economic growth and demand and supply of energy. in addition to information on competitive position.
regulatory environment. potential growth opportunities and other subjects. Various factors can adversely affect the estimates
and assumptions on which these declarations are based on.
Contacts
Joo Batista Zolini Carneiro
CFO and IRO

Gustavo Werneck
Superintendent of Finance and Investor Relations
+55 21 2211 2560
gustavo.souza@light.com.br
Mariana da Silva Rocha
IR Manager
+ 55 21 2211 2814
mariana.rocha@light.com.br

ri.light.com.br www.facebook.com/lightri twitter.com/LightRI