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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Contents
Company Details
Breakdown of Paid-in Capital 1

Individual Financial Statements


Balance Sheet Assets Balance Sheet - Liabilities Statement of Income Comprehensive Statement of Income Statement of Cash Flow 2 3 4 6 7

Statements of Changes in Shareholders Equity


DMPL - 1/1/2013 to 9/30/2013 DMPL - 1/1/2012 to 9/30/2012 Statement of Added Value 8 9 10

Consolidated Financial Statements


Balance Sheet Assets Balance Sheet - Liabilities Statement of Income Comprehensive Statement of Income Statement of Cash Flow 11 12 14 16 17

Statements of Changes in Shareholders Equity


DMPL - 1/1/2013 to 9/30/2013 DMPL - 1/1/2012 to 9/30/2012 Statement of Added Value Other Information Considered Significant to the Company 19 20 21 22

ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Company Data / Capital Breakdown


Current Quarter 9/30/2013

Number of Shares (Thousands)


Issued Capital Common Preferred Total Treasury stock Common Preferred Total

702,511 0 702,511

0 0 0

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Individual Financial Statements - Balance Sheet - Assets - (reais thousand)

Account 1 1.01 1.01.01 1.01.01.01 1.01.01.02 1.01.06 1.01.06.01 1.01.08 1.01.08.03 1.01.08.03.01 1.01.08.03.02 1.01.08.03.03 1.01.08.03.04 1.02 1.02.01 1.02.01.06 1.02.01.06.01 1.02.01.07 1.02.01.09 1.02.01.09.04 1.02.01.09.07 1.02.01.09.08 1.02.01.09.09 1.02.01.09.11 1.02.01.09.12 1.02.01.09.13 1.02.01.09.14 1.02.02 1.02.02.01 1.02.02.01.01 1.02.02.01.02 1.02.02.01.03 1.02.02.01.04 1.02.03 1.02.04

Account Description Total Assets Current Assets Cash and Cash Equivalents Cash and Bank deposits Fundo Multimercado MPX 63 Recoverable Taxes Current Taxes Recoverable Other Current Assets Other Other Advances Dividends Receivable Gain on derivatives Escrow Deposits Noncurrent Assets Long-Term Assets Deferred Taxes Deferred Income and Social Contribution Taxes Prepaid Expenses Other Noncurrent Assets Escrow Deposits Recoverable Taxes Accounts receivable from other related parties AFAC at joint ventures Loan with joint ventures Accounts receivable from joint ventures Embedded derivatives Other Accounts Receivable Investments Equity Interests Interests in Associated Companies Interests in Subsidiaries Interests in Joint Ventures Other Equity Interests Property, plant and equipment Intangible assets

Current Quarter 9/30/2013 4,331,717 337,230 302,324 486 301,838 23,400 23,400 11,506 11,506 978 0 10,491 37 3,994,487 1,422,236 114,400 114,400 841 1,306,995 0 6,280 1,134 388,202 889,304 22,020 52 3 2,549,680 2,549,680 51,631 1,608,378 827,576 62,095 19,827 2,744

Previous Year 12/31/2012 3,642,481 234,244 206,263 260 206,003 22,068 22,068 5,913 5,913 820 2,040 3,018 35 3,408,237 1,170,867 114,400 114,400 841 1,055,626 102,649 9,598 1,134 419,426 505,976 16,364 0 479 2,215,107 2,215,107 31,861 1,373,392 747,759 62,095 19,343 2,920

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Individual Statements - Balance Sheet - Liabilities - (reais thousand)

Account Code Account Description 2 2.01 2.01.01 2.01.01.02 2.01.02 2.01.02.01 2.01.03 2.01.03.01 2.01.03.01.01 2.01.04 2.01.04.01 2.01.04.01.01 2.01.04.02 2.01.04.02.02 2.01.05 2.01.05.01 2.01.05.01.02 2.01.05.01.04 2.01.05.02 2.01.05.02.07 2.01.05.02.09 2.02 2.02.01 2.02.01.01 2.02.01.01.01 2.02.01.02 2.02.01.02.01 2.02.01.02.02 2.02.02 2.02.02.01 2.02.02.01.04 2.02.04 2.02.04.02 2.02.04.02.05 2.03 2.03.01 2.03.02 2.03.02.04 2.03.05 2.03.06 Total Liabilities Current Liabilities Social and labor obligations Labor Obligations Trade payables Domestic Trade Payables Tax Obligations Federal Tax Liabilities Income taxes and contributions payable Loans and Financing Loans and Financing In local currency Debentures Interest Other Obligations Related-Party Transactions Debts with Subsidiaries Debts with Other Related Parties Other Profit Sharing Other Obligations Noncurrent Liabilities Loans and Financing Loans and Financing In local currency Debentures Principal Interest Other Obligations Related-Party Transactions Debts with Other Related Parties Provisions Other Provisions Unsecured Liability Shareholders Equity Realized Capital Capital Reserves Options Awarded Retained Earnings/Accumulated Losses Equity Appraisal Adjustments

Current Quarter 9/30/2013 4,331,717 1,458,678 5,208 5,208 3,587 3,587 231 231 231 1,442,128 1,442,067 1,442,067 61 61 7,524 7,433 2,528 4,905 91 0 91 131,058 116,655 111,500 111,500 5,155 4,605 550 705 705 705 13,698 13,698 13,698 2,741,981 4,532,274 346,044 346,044 -2,027,159 -109,178

Previous Year 12/31/2012 3,642,481 947,342 3,288 3,288 3,849 3,849 402 402 402 924,463 924,352 924,352 111 111 15,340 6,523 3,859 2,664 8,817 8,726 91 125,547 107,129 102,175 102,175 4,954 4,605 349 0 0 0 18,418 18,418 18,418 2,569,592 3,731,734 321,904 321,904 -1,364,979 -119,067

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Individual Financial Statements / Income Statement - (reais thousand)


Account Code Account Description Operating Income/Expenses General and Administrative Expenses Personnel and Management Other Expenses Outsourced Services Depreciation and Amortization Leasing and Rent Other Operating Income Other Operating Expenses Unsecured Liability Provision for investment losses Losses on the sale of assets Equity in Net Income of Subsidiaries Current Quarter 7/1/2013 to 9/30/2013 -133,330 -33,558 -17,681 -2,564 -10,920 -466 -1,927 0 -1,577 -1,577 0 0 -98,195 Accrued Value of the Same Quarter of the Current Year Prior Year 1/1/2013 to 9/30/2013 7/1/2012 to 9/30/2012 -509,928 -87,149 -45,286 -5,172 -31,281 -1,371 -4,039 975 -5,502 -5,500 3 -5 -418,252 -509,928 -152,254 74,399 11,157 53,719 9,048 -426 901 -226,653 -20,612 -4,309 -482 -201,250 -662,181 0 0 -662,182 -662,182 -89,084 -39,012 -20,541 -2,269 -13,816 -349 -2,037 0 -2,079 -2,081 2 0 -47,993 -89,084 910 22,724 1 21,452 -1,760 46 2,985 -21,814 -300 0 -127 -21,387 -88,174 1,479 1,479 -86,695 -86,695 Accrued Value of the Prior Year 1/1/2012 to 9/30/2012 -256,011 -109,590 -54,429 -5,784 -42,038 -1,136 -6,203 1 -8,616 -8,618 2 0 -137,806 -256,011 -54,945 120,783 2 51,267 2,474 62,600 4,400 -175,728 -308 -302 -130,692 -44,426 -310,956 11,585 11,585 -299,371 -299,371

3.04 3.04.02 3.04.02.01 3.04.02.02 3.04.02.03 3.04.02.04 3.04.02.05 3.04.04 3.04.05 3.04.05.01 3.04.05.02 3.04.05.03 3.04.06 3.05 3.06 3.06.01 3.06.01.01 3.06.01.02 3.06.01.03 3.06.01.04 3.06.01.05 3.06.02 3.06.02.01 3.06.02.02 3.06.02.03 3.06.02.05 3.07 3.08
3.08.02 3.09 3.11 3.99 3.99.01 3.99.01.01

Earnings before financial income/loss and tax -133,330 Financial Income/Loss Financial Revenue Exchange Variance Gain Interest-earning bank deposits Derivative Financial Instruments Fair value of debentures Other Financial Revenue Financial Expenses Exchange Variance Loss Derivative Financial Instruments Debenture Interest/Cost Other Financial Expenses Earnings before tax on net income -44,701 30,350 7,145 22,287 17 0 901 -75,051 -7,852 -1,691 -120 -65,388 -178,031

Income and social contribution taxes on profit 0 Deferred charges Net Earnings from Continued Operations Net Income/Loss for the Period Earnings per Share - (Reais / Share) Basic Earnings per Share Common 0,25342 0 -178,031 -178,031

0,94259

0,72540

-0,51773

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Individual Financial Statements Comprehensive Statement of Income


Account Code Current Quarter 7/1/2013 to 9/30/2013 -178,031 -1,389 43 -2,169 737 -179,420 Accrued Value of the Current Year 1/1/2013 to 9/30/2013 -662,181 -6,721 -574 -9,314 3,167 -668,902 Same Quarter of the Prior Year 7/1/2012 to 9/30/2012 -86,695 2,180 1,144 1,570 -534 -84,515 Accrued Value of the Prior Year 1/1/2012 to 9/30/2012 -299,371 50,314 43,698 10,024 -3,408 -249,057

Account Description

4.01 4.02 4.02.01 4.02.03 4.02.04 4.03

Net Income for the Period Other Comprehensive Income Accumulated Translation Adjustments Effective portion of the changes in fair value of cash flow hedges - hedge accounting Deferred income and social contribution taxes - hedge accounting Comprehensive Income for the Period

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Individual Statements - Statement of Cash Flows - Indirect Method (reais thousand)


Account Code Account Description Accrued Value of the Current Year 1/1/2013 to 9/30/2013 Same Quarter of the Prior Year 7/1/2012 to 9/30/2012

6.01 6.01.01 6.01.01.01 6.01.01.02 6.01.01.03 6.01.01.04 6.01.01.05 6.01.01.07 6.01.01.08 6.01.01.13 6.01.01.14 6.01.01.15 6.01.01.17 6.01.02 6.01.02.01 6.01.02.02 6.01.02.05 6.01.02.09 6.01.02.10 6.01.02.11 6.01.02.12 6.01.02.14 6.01.03 6.01.03.02 6.02 6.02.01 6.02.04 6.02.05 6.02.06 6.02.07 6.02.08 6.02.10 6.03 6.03.01 6.03.02 6.03.07 6.03.10 6.05 6.05.01 6.05.02

Net Cash from Operating Activities Cash Provided by Operating Activities Net income/loss before IR and CSLL Depreciation and Amortization Equity in net income of subsidiary and associated companies Operations with derivative financial instruments Stock Options Awarded Investment devaluation Provision for Unsecured Liabilities Debenture Interest/Cost Fair value of debentures Interest on loans and related parties Equity Appraisal Adjustment Changes in Assets and Liabilities Other Advances Prepaid Expenses Recoverable Taxes Taxes, Duties and Contributions Trade payables Provision for Payroll Charges Accounts Payable Debts to/Credits with related parties Other Assets and Liabilities Net Cash from Investment Activities Acquisition of PPE and intangible assets Change in Investments Cash resulting from sale of property, plant and equipment and intangible assets AFAC to associated companies Debt to related parties Dividends Escrow Deposits Net Cash from Financing Activities Financial Instruments Capital Increases Loans and Financing Obtained Issuance (payment) of debentures Increase (Decrease) in Cash and Cash Equivalents Opening Balance of Cash and Cash Equivalents Closing Balance of Cash and Cash Equivalents

-114,651 -100,478 -662,181 1,371 418,252 -4,739 24,140 -3 5,500 482 426 106,386 9,888 -725 -160 0 3,176 -1,360 -261 1,920 0 -4,040 -13,448 -13,448 -1,007,416 -1,673 -758,322 -5 31,224 -383,328 2,040 102,648 1,218,128 -2,735 800,540 420,653 -330 96,061 206,263 302,324

-81,876 -88,782 -310,956 1,136 137,806 -2,171 31,942 -2 8,616 130,691 -62,600 30,479 -53,723 14,131 844 -690 24,687 1,100 -329 -329 16 -11,168 -7,225 -7,225 -1,048,700 685 -548,520 0 -41,816 -387,064 2,362 -74,347 629,503 18,921 1,689,704 480,259 -1,559,381 -501,073 960,258 459,185

Individual Financial Statements - Statements of Changes in Shareholders Equity - 1/1/2013 to 9/30/2013


Capital Reserves, Options Awarded and Treasury Stock 321,904 321,904 24,140 0 24,140 0 0 0 0 346,044

Account Code Account Description

Capital Paid in

Profit

Retained Earnings or Accumulated Losses

Other Income Comprehensive

Shareholders Equity 2,569,594 2,569,594 824,680 800,540 24,140 -652,293 -652,293 9,314 -661,607 2,741,981

Reserves 5.01 5.03 5.04 5.04.01 5.04.03 5.05 5.05.02 5.05.02.01 5.05.02.07 5.07 Opening Balances Adjusted Opening Balances Capital Transactions with Partners Capital Increases Awarded Options Recognized Total Comprehensive Income Other Comprehensive Income Financial Instrument Adjustments Loss for the Period Closing Balances 3,731,734 3,731,734 800,540 800,540 0 0 0 0 0 4,532,274 0 0 0 0 0 0 0 0 0 0 -1,364,978 -1,364,978 0 0 0 -662,181 -662,181 0 -662,181 -2,027,159 -119,066 -119,066 0 0 0 9,888 9,888 9,314 574 -109,178

Individual Financial Statements - Statements of Changes in Shareholders Equity - 1/1/2012 to 9/30/2012 (Reais k)

Account Code Account Description

Capital Paid in

Capital Reserves, Options Awarded and Treasury Stock

Profit

Retained Earnings or Accumulated Losses

Other Comprehensive Income

Shareholders Equity 1,317,800 1,317,800 1,713,670 2,431,891 31,942 -750,163 0 -342,273 -342,273 -10,025 -32,877 -299,371 2,689,197

Reserves
5.01 5.03 5.04 5.04.01 5.04.03 5.04.08 5.04.09 5.05 5.05.02 5.05.02.01 5.05.02.04 5.05.02.07 5.07

Opening Balances

2,042,014

274,625 274,625 37,394 0 37,394 0 0 0 0 0 0 0 312,019

0 0 0 0 0 0 0 0 0 0 0 0 0

-927,169 -927,169 -2,607 0 0 2,845 -5,452 -299,371 -299,371 0 0 -299,371 -1,229,147

-71,670 -71,670 -10,821 0 0 -10,821 0 -42,902 -42,902 -10,025 -32,877 0 -125,393

Adjusted Opening Balances 2,042,014 Capital Transactions with Partners Capital Increases Awarded Options Recognized Adjustment Spin-off CCX Carvo da Colmbia Adjustment Deferred Charges - JV 1,689,704 947,517 0 742,187 0

Total Comprehensive Income 0 Other Comprehensive Income Financial Instrument Adjustments Translation Adjustments in the Period Loss for the Period Closing Balances 0 0 0 0 3,731,718

Individual Financial Statements Statement of Added Value (Thousands of Reais)

Account Code 7.02 7.02.02 7.03 7.04 7.04.01 7.05 7.06 7.06.01 7.06.02 7.06.03 7.06.03.02 7.06.03.04 7.07 7.08 7.08.01 7.08.01.01 7.08.01.02 7.08.01.03 7.08.02 7.08.02.01 7.08.03 7.08.03.01 7.08.03.02 7.08.03.03 7.08.03.03.01 7.08.03.03.03

Account Description

Accrued Value of the Current Year 1/1/2013 to 9/30/2013 -35,470 -35,470 -35,470 -1,371 -1,371 -36,841 -360,507 -418,252 63,242 -5,497 -5,500 3 -397,348 -397,348 45,286 35,163 4,521 5,602 595 595 218,952 482 4,039 214,431 4,310 386 9,455 201,255 -975 -662,181 -662,181

Accrued Value of the Prior Year 1/1/2012 to 9/30/2012 -47,651 -47,651 -47,651 -1,136 -1,136 -48,787 -25,641 -137,806 120,781 -8,616 -8,618 2 -74,428 -74,428 54,429 45,682 3,272 5,475 -11,567 -11,567 182,081 130,691 6,203 45,187 302 153 306 44,426 0 -299,371 -299,371

Consumables acquired from third parties Material, Energy, Outsourced Services and Other Gross Added Value Retentions Depreciation, Amortization and Depletion Net Added Value Produced Transferred Added Value Equity in Net Income of Subsidiaries Financial Revenue Other Provision for Unsecured Liabilities Provision for devaluation of investments Total Added Value to be Distributed Distribution of Added Value Personnel Direct Remuneration Benefits F.G.T.S. Taxes, Duties and Contributions Federal Interest Expenses Interest Rent Other Losses on Derivative Transactions

Insurance 7.08.03.03.04 Exchange Variance


7.08.03.03.06 7.08.03.03.07 7.08.04 7.08.04.03

Financial Expenses
Other Interest earnings Retained Earnings/Loss for the Period

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Consolidated Financial Statements / Balance Sheet - Assets - (reais thousand)

Account Code Account Description

Current Quarter 9/30/2013 9,206,194 786,624 356,552 17,268 337,978 1,306 0 0 0 235,820 235,820 93,330 36,505 36,505 29,783 34,634 34,634 5,352 10,521 37 18,724 8,419,570 787,457 398,120 398,120 3,371 385,966 152,459 24,617 16,147 1,134 365 185,927 5,204 53 60 933,543 933,543 51,631 881,912 6,483,301 215,269

Previous Year 12/31/2012 8,039,596 765,908 519,277 5,922 513,355 0 3,441 3,441 3,441 21,345 21,345 142,687 37,410 37,410 19,351 22,397 22,397 1,783 3,018 35 17,561 7,273,688 654,098 305,548 305,548 8,494 340,056 135,648 24,617 24,034 1,134 12,425 134,926 6,793 0 479 833,955 833,955 31,861 802,094 5,570,399 215,236

1 1.01 1.01.01 1.01.01.01 1.01.01.02 1.01.01.04 1.01.02 1.01.02.01 1.01.02.01.03 1.01.03 1.01.03.01 1.01.04 1.01.06 1.01.06.01 1.01.07 1.01.08 1.01.08.03 1.01.08.03.01 1.01.08.03.03 1.01.08.03.04 1.01.08.03.05 1.02 1.02.01 1.02.01.06 1.02.01.06.01 1.02.01.07 1.02.01.09 1.02.01.09.04 1.02.01.09.05 1.02.01.09.07 1.02.01.09.08 1.02.01.09.09 1.02.01.09.11 1.02.01.09.12 1.02.01.09.13 1.02.01.09.14 1.02.02 1.02.02.01 1.02.02.01.01 1.02.02.01.04 1.02.03 1.02.04

Total Assets Current Assets Cash and Cash Equivalents Cash and Bank deposits Fundo Multimercado MPX 63 CDB/Purchase and Sale Agreements Short-term Investments Short-term investments valued at Fair Value Securities Accounts Receivable Trade accounts receivable Inventories Recoverable Taxes Current Taxes Recoverable Prepaid Expenses Other Current Assets Other Other Advances Gain on Derivatives Escrow Deposits CCC subsidies receivable Noncurrent Assets Long-Term Assets Deferred Taxes Deferred Income and Social Contribution Taxes Prepaid Expenses Other Noncurrent Assets Escrow Deposits CCC Subsidies Receivable Recoverable Taxes Accounts receivable from other related parties AFAC at joint ventures Loan with joint ventures Accounts receivable from joint ventures Embedded derivatives Other Accounts Receivable Investments Equity Interests Interests in Associated Companies Other Equity Interests Property, plant and equipment Intangible assets

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Consolidated Statements / Balance Sheet - Liabilities - (reais thousand)

Account Code

Account Description Total Liabilities Current Liabilities Social and labor obligations Labor Obligations Trade payables Domestic Trade Payables Tax Obligations Federal Tax Liabilities Income taxes and contributions payable Loans and Financing Loans and Financing In local currency Debentures Interest Other Obligations Related-Party Transactions Debits with Parent Companies Debts with Other Related Parties Other Losses on Derivative Transactions Contractual Retentions Profit Sharing Dividends Payable Other Obligations Noncurrent Liabilities Loans and Financing Loans and Financing In local currency Debentures Principal Interest Other Obligations Related-Party Transactions Debts with Other Related Parties Other Losses on Derivative Transactions Deferred Taxes Deferred Income and Social Contribution Taxes Provisions Other Provisions Provision for Disassembly Unsecured Liability Consolidated Shareholders Equity Realized Capital Capital Reserves Options Awarded

Current Quarter 9/30/2013 9,206,194 3,170,392 14,916 14,916 384,195 384,195 43,566 43,566 43,566 2,527,908 2,527,847 2,527,847 61 61 199,807 7,617 2,528 5,089 192,190 0 52,640 0 0 139,550 3,202,666 3,028,568 3,023,413 3,023,413 5,155 4,605 550 151,403 151,403 151,403 0 0 5,404 5,404 17,291 17,291 2,220 15,071 2,833,136 4,532,274 346,044 346,044

Previous Year 12/31/2012 8,039,596 2,109,465 9,863 9,863 115,261 115,261 7,241 7,241 7,241 1,820,085 1,819,974 1,819,974 111 111 157,015 30,772 26,783 3,989 126,243 22,951 77,374 20,633 1,960 3,325 3,228,993 3,109,760 3,104,806 3,104,806 4,954 4,605 349 95,227 430 430 94,797 94,797 2,048 2,048 21,958 21,958 2,118 19,840 2,701,138 3,731,734 321,904 321,904

2 2.01 2.01.01 2.01.01.02 2.01.02 2.01.02.01 2.01.03 2.01.03.01 2.01.03.01.01 2.01.04 2.01.04.01 2.01.04.01.01 2.01.04.02 2.01.04.02.02 2.01.05 2.01.05.01 2.01.05.01.03 2.01.05.01.04 2.01.05.02 2.01.05.02.04 2.01.05.02.05 2.01.05.02.07 2.01.05.02.08 2.01.05.02.09 2.02 2.02.01 2.02.01.01 2.02.01.01.01 2.02.01.02 2.02.01.02.01 2.02.01.02.02 2.02.02 2.02.02.01 2.02.02.01.04 2.02.02.02 2.02.02.02.03 2.02.03 2.02.03.01 2.02.04 2.02.04.02 2.02.04.02.04 2.02.04.02.05 2.03 2.03.01 2.03.02 2.03.02.04

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Consolidated Statements / Balance Sheet - Liabilities (reais thousand)

Account Code
2.03.05 2.03.06 2.03.09

Account Description
Retained Earnings/Accumulated Losses Equity Appraisal Adjustments Minority Interests

Current Quarter 9/30/2013


-2,046,037 -109,178 110,033

Previous Year 12/31/2012


-1,384,971 -119,067 151,538

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Consolidated Statements / Income Statement - (reais thousand)


Account Code Account Description Current Quarter 7/1/2013 to 9/30/2013 Accrued Value of the Current Year 1/1/2013 to 9/30/2013 908,498 -1,034,760 -126,262 -284,313 -128,818 -61,305 -10,217 -49,262 -1,976 -6,058 4,034 -8,172 -5,121 -23 -3,028 -151,357 -410,575 -339,435 52,447 13,056 26,919 9,048 -426 3,850 -391,882 -24,786 -1,507 -482 Same Quarter of the Prior Year 7/1/2012 to 9/30/2012 9,867 -7,310 2,557 -86,528 -53,850 -25,939 -3,790 -21,143 -504 -2,474 253 -2,079 -2,081 2 0 -30,852 -83,971 -11,057 23,142 -152 21,911 -1,761 46 3,098 -34,199 -2,135 -5,129 -127 Accrued Value of the Prior Year 1/1/2012 to 9/30/2012 28,686 -23,835 4,851 -251,255 -164,032 -74,862 -11,129 -66,599 -2,217 -9,225 972 -9,067 -8,618 2 -451 -79,128 -246,404 -78,727 -272,848 21,251 62,282 -425,803 62,600 6,822 194,121 -9,138 399,572 -130,692

3.01 3.02 3.03 3.04 3.04.02 3.04.02.01 3.04.02.03 3.04.02.04 3.04.02.05 3.04.02.06 3.04.04 3.04.05 3.04.05.01 3.04.05.02 3.04.05.03 3.04.06 3.05 3.06 3.06.01 3.06.01.01 3.06.01.02 3.06.01.03 3.06.01.04 3.06.01.05 3.06.02 3.06.02.01 3.06.02.02 3.06.02.03 3.06.02.05 3.07 3.08 3.08.01 3.08.02 3.09 3.11 3.11.01 3.11.02 3.99 3.99.01 3.99.01.01

Revenue from goods sold and services rendered Cost of goods and/or services sold Gross Profit Operating Income/Expenses General and Administrative Expenses Personnel and Management Other Expenses Outsourced Services Depreciation and Amortization Leasing and Rent Other Operating Income Other Operating Expenses Unsecured liability Provision for investment losses Losses on the sale of assets Equity in Net Income of Subsidiaries Earnings before financial income/loss and tax Financial Income/Loss Financial Revenue Exchange Variance Gain Interest-earning bank deposits Derivative Financial Instruments Fair value of debentures Other Financial Revenue Financial Expenses Exchange Variance Loss Derivative Financial Instruments Debenture Interest/Cost

317,267 -303,821 13,446 -72,092 -47,804 -22,162 -5,207 -16,979 -686 -2,770 50 -1,585 -1,543 0 -42 -22,753 -58,646 -98,679 19,806 8,486 9,545 17 0 1,758 -118,485 -9,603 -2,419 -120

Other Financial Expenses Earnings before tax on net income Income and social contribution taxes on profit Current Deferred charges Net Earnings from Continued Operations Consolidated Net Income/Loss for the Period Attributed to Partners of the Parent Company Attributed to Minority Partners Earnings per Share - (Reais / Share) Basic Earnings per Share Common

-106,343 -157,325 -15,380 -5,481 -9,899 -172,705 -172,705 -178,031 5,326

-365,107 -750,010 86,756 -5,817 92,573 -663,254 -663,254 -662,181 -1,073

-26,808 -95,028 8,240 -214 8,454 -86,788 -86,788 -86,695 -93

-65,621 -325,131 26,853 -1,282 28,135 -298,278 -298,278 -299,371 1,093

0.24584

0.94412

0.72540

-0.51773

Consolidated Statements - Comprehensive Income Statement (Reais thousand)


Account Code Account Description Current Quarter 7/1/2013 to 9/30/2013 Consolidated Net Income for the Period Other Comprehensive Income Accumulated Translation Adjustments Effective portion of the changes in fair value of cash flow hedges - hedge accounting Deferred income and social contribution taxes - hedge accounting Consolidated Comprehensive Income for the Period Attributed to Partners of the Parent Company Attributed to Minority Partners -172,705 -1,389 43 Accrued Value of the Current Year 1/1/2013 to 9/30/2013 -663,254 -6,721 -574

Same Quarter of the Prior Year 7/1/2012 to 9/30/2012 -86,788 2,180 1,144

Accrued Value of the Prior Year 1/1/2012 to 9/30/2012 -298,278 50,314 43,698

4.01 4.02 4.02.01 4.02.03 4.02.04 4.03 4.03.01 4.03.02

-2,169

-9,314

1,570

10,024

737 -174,094 -179,420 5,326

3,167 -669,975 -668,902 -1,073

-534 -84,608 -84,515 -93

-3,408 -247,964 -249,057 1,093

ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Consolidated Financial Statements - Statements of Changes in Shareholders Equity - 1/1/2013 to 9/30/2013 (Thousands of Reais)
Capital Reserves, Options Awarded and Treasury Stock

Account Code

Account Description

Paid-in share capital

Profit Reserves

Retained Earnings or Accumulated Losses

Other Comprehen sive Income

Shareholders Equity

Minority interests

Consolidated Shareholders Equity

5.01 5.03 5.04 5.04.01 5.04.03 5.04.09 5.05 5.05.02 5.05.02.01 5.05.02.04 5.05.02.07 5.05.02.08 5.07

Opening Balances Adjusted Opening Balances Capital Transactions with Partners Capital Increases Awarded Options Recognized Deferred Asset Adjustment Total Comprehensive Income Other Comprehensive Income Financial Instrument Adjustments Translation Adjustments in the Period Loss for the Period Minority interest Closing Balances

3,731,7 34 3,731,7 34 800,540 800,540 0 0 0 0 0 0 0 0 4,532,2 74

321,904 321,904 24,140 0 24,140 0 0 0 0 0 0 0 346,044

0 0 0 0 0 0 0 0 0 0 0 0 0

-1,384,971 -1,384,971 1,115 0 0 1,115 -662,181 -662,181 0 0 -662,181 0 -2,046,037

-119,066 -119,066 0 0 0 0 9,888 9,888 9,314 574 0 0 -109,178

2,549,601 2,549,601 825,795 800,540 24,140 1,115 -652,293 -652,293 9,314 574 -662,181 0 2,723,103

154,975 154,975 0 0 0 0 -44,942 -44,942 0 0 -1,073 -43,869 110,033

2,704,576 2,704,576 825,795 800,540 24,140 1,115 -697,235 -697,235 9,314 574 -663,254 -43,869 2,833,136

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Consolidated Financial Statements - Statements of Changes in Shareholders Equity - 1/1/2012 to 9/30/2012

(Thousands of Reais) Capital Reserves, Profit Options Reser Awarded and ves Treasury Stock 274,625 274,625 31,942 0 31,942 0 0 0 0 0 0 0 0 306,567 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Retaine d Earning s or Accum ulated Losses 982,323 26,207 982,323 0 0 2,845 23,362 299,371 0 299,371 0 0 299,371 1,255,48 7

Account Code

Account Description

Paid-in share capital

Other Comprehe nsive Income

Sharehold ers Equity

Minority interests

Consolidated Shareholders Equity

5.01 5.03 5.04 5.04.01 5.04.03 5.04.08 5.04.09 5.05 5.05.02

Opening Balances Adjusted Opening Balances Capital Transactions with Partners Capital Increases Awarded Options Recognized Adjustment Spin-off CCX Carvo da Deferred ColmbiaAsset Adjustment Total Comprehensive Income Other Comprehensive Income

2,042,014 2,042,014 1,689,704 947,517 0 742,187 0 0 0 0 0 0 0 3,731,718

-71,670 -71,670 0 0 0 0 0 -53,723 -53,723 -10,025 -43,698 0 0 -125,393

1,262,646 1,262,646 1,747,853 947,517 31,942 745,032 23,362 -353,094 -353,094 -10,025 -43,698 -299,371 0 2,657,405

107,429 107,429 0 0 0 0 0 1,341 1,341 0 0 1,093 248 108,770

1,370,075 1,370,075 1,747,853 947,517 31,942 745,032 23,362 -351,753 -351,753 -10,025 -43,698 -298,278 248 2,766,175

5.05.02.01 Financial Instrument Adjustments 5.05.02.04 Translation Adjustments in the Period 5.05.02.07 Loss for the Period 5.05.02.08 Minority Interests 5.07 Closing Balances

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Consolidated Statements - Statement of Cash Flow- Indirect Method (Reais Thousand)

Account Code 6.01 6.01.01 6.01.01.01 6.01.01.02 6.01.01.03 6.01.01.04 6.01.01.05 6.01.01.07 6.01.01.08 6.01.01.09 6.01.01.13 6.01.01.14 6.01.01.15 6.01.01.17 6.01.02 6.01.02.01 6.01.02.02 6.01.02.03 6.01.02.05 6.01.02.06 6.01.02.09 6.01.02.10 6.01.02.11 6.01.02.12 6.01.02.13 6.01.02.14 6.01.03 6.01.03.02 6.01.03.04 6.02 6.02.01 6.02.03 6.02.04 6.02.05 6.02.06 6.02.07 6.02.08 6.02.09 6.02.10 6.03 6.03.01 6.03.02 6.03.07 6.03.08 6.03.10 6.05 6.05.01 6.05.02

Account Description Net Cash from Operating Activities Cash Provided by Operating Activities Net income/loss before IR and CSLL Depreciation and Amortization Equity in net income of subsidiary and associated companies Operations with derivative financial instruments Stock Options Awarded Investment devaluation Provision for Unsecured Liabilities Provision for Disassembly Debenture Interest/Cost Fair value of debentures Interest on loans and related parties Equity Appraisal Changes in Assets and Liabilities Other Advances Prepaid Expenses Accounts Receivable Recoverable Taxes Inventory Taxes, Duties and Contributions Trade payables Provisions and payroll charges Accounts Payable CCC subsidy receivable Debts to/Credits with related parties Other Assets and Liabilities Cash Effect spin-off of E.On Net Cash from Investment Activities Acquisition of PPE and intangible assets Securities Change in Investments Cash resulting from sale of property, plant and equipment and intangible assets AFAC to associated companies Debt to related parties Dividends Contractual Retentions Escrow Deposits Net Cash from Financing Activities Financial Instruments Capital Increases Loans and Financing Obtained Capital increase deriving from

Accrued Value of the Current Year 1/1/2013 to 9/30/2013 151,463 -232,655 -750,010 89,871 151,357 -7,541 24,140 23 5,121 103 482 426 243,485 9,888 409,566 -3,568 -5,309 -214,475 9,981 49,357 35,135 268,935 5,053 136,226 -1,163 129,394 -25,448 -25,448 0 -1,378,606 -999,889 3,441 -296,691 -3,020 12,060 -51,001 -1,960 -24,734 -16,812 1,064,418 -117,710 800,540 382,991 -1,073

Accrued Value of the Prior Year 1/1/2012 to 9/30/2012 -178,634 -138,943 -325,126 6,695 79,128 26,231 31,942 -2 8,618 129 130,692 -62,600 19,073 -53,723 -77,363 6,125 1,659 8,039 52,653 -21,817 -10,271 -59,326 -4,501 -44,905 -6,728 1,709 37,672 -3,699 41,371 -1,663,839 -1,157,516 -8,802 -388,998 -441 -2,100 -51,049 -2,269 -4,992 -47,672 1,351,239 18,464 1,689,704 1,203,547 -1,093

Issuance (payment) of debentures Increase (Decrease) in Cash and Cash Equivalents Opening Balance of Cash and Cash Equivalents Closing Balance of Cash and Cash Equivalents

-330 -162,725 519,277 356,552

-1,559,383 -491,234 1,380,151 888,917

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Consolidated Financial Statements Statement of Added Value (Thousands of Reais)

Account Code
7.01 7.01.01 7.01.03 7.02 7.02.02 7.03 7.04 7.04.01 7.05 7.06 7.06.01 7.06.02 7.06.03 7.06.03.02 7.06.03.04 7.07 7.08 7.08.01 7.08.01.01 7.08.01.02 7.08.01.03 7.08.02 7.08.02.01 7.08.03 7.08.03.01 7.08.03.02 7.08.03.03 7.08.03.03.01 7.08.03.03.02 7.08.03.03.03 7.08.03.03.04 7.08.03.03.06 7.08.03.03.07 7.08.04 7.08.04.03 7.08.04.04

Account Description

Accrued Value of the Current Year 1/1/2013 to 9/30/2013 1,821,434 908,498 912,936 -860,321 -860,321 961,113 -89,871 -89,871 871,242 -117,110 -151,357 39,391 -5,144 -5,121 -23 754,132 754,132 87,007 50,302 21,027 15,678 -85,616 -85,616 1,415,995 482 117,519 1,297,994 1,507 912,928 7,719 11,729 368,136 -4,025 -663,254 -662,181 -1,073

Accrued Value of the Prior Year 1/1/2012 to 9/30/2012 1,179,378 28,686 1,150,692 -91,300 -91,300 1,088,078 -6,695 -6,695 1,081,383 -381,843 -79,128 -294,099 -8,616 -8,618 2 699,540 699,540 77,600 57,028 8,441 12,131 -26,054 -26,054 946,272 130,692 10,711 804,869 -399,572 1,150,682 755 -12,113 66,073 -956 -298,278 -299,371 1,093

Revenue Sales of Goods, Products and Services Revenue relating to construction of company assets Consumables acquired from third parties Material, Energy, Outsourced Services and Other Gross Added Value Retentions Depreciation, Amortization and Depletion Net Added Value Produced Transferred Added Value Equity in Net Income of Subsidiaries Financial Revenue Other Provision for Unsecured Liabilities Provision for devaluation of investments Total Added Value to be Distributed Distribution of Added Value Personnel Direct Remuneration Benefits F.G.T.S. Taxes, Duties and Contributions Federal Interest Expenses Interest Rent Other Losses on Derivative Transactions Advances to suppliers

Insurance Exchange Variance Financial Expenses


Other Interest earnings Retained Earnings/Loss for the Period - Minority interests in retained earnings

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FEDERAL PUBLIC SERVICE CVM BRAZILIAN SECURITIES COMMISSION ITR Quarterly Information Corporate Legislation COMMERCIAL AND INDUSTRIAL COMPANIES AND OTHER - as of 9/30/2013

02123-7 ENEVA S/A

04.423.567/0001-21

20.01 - OTHER INFORMATION CONSIDERED SIGNIFICANT TO THE COMPANY

Pursuant to the Company's Bylaws, the company, its shareholders and managers undertake to settle through arbitration any and all disputes between them arising from, or in connection with, the application, validity, effectiveness, interpretation, violation or effects of the rules contained in Brazilian Corporation Law, the Company's By-Laws, regulations issued by the Brazilian Monetary Council, the Brazilian Central Bank and the Brazilian Securities Commission (CVM), and any other regulations applicable to the capital market in general, as well as those contained in the New Market Regulations, the Regulations of the Market Chamber of Arbitration and New Market Agreement. At September 30, 2013 the Companys share capital consisted of 702,510,969 common shares distributed as follows:
CONSOLIDATED SHAREHOLDINGS OF CONTROLLING SHAREHOLDERS MANAGERS AND FREE FLOAT Position at 9/30/2013 Shareholder Controlling Shareholder Executives Board of Directors Executive Board Audit Committee* Treasury Stock Other Shareholders Total Number of Common Shares (In Units) 434,005,449 % 61.78 Total Number of Shares (In Units) 434,005,449 % 61.78

155,155 485,700 267,864,665 702,510,969

0.02 0.07 38.13 100

155,155 485,700 267,864,665 702,510,969

0.02 0.07 38.13 100

Free Float

267,864,665

38.13

267,864,665

38.13

*The Company's Annual Meeting did not convene the Audit Committee in FY 2013.

The Company's capital was increased on 5/26/2011 by the Board of Directors' meeting held 3/24/2011, which raised the number of shares from 136,692,680 to 136,720,840, as a result of subscription options being exercised.

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

The Company's capital was increased in February 2012 by the Board of Directors' meeting held 2/29/2012, via the issuance of 9,633 new shares resulting from the conversion of 6,383 of the 21,735,744 debentures issued by the Company on June 15, 2011. The number of Company shares accordingly rose from 136,720,840 to 136,730,473. The Company's capital was increased in March 2012 by the Board of Directors' meeting held 3/21/2012, via the issuance of 984 new shares resulting from the conversion of 649 debentures and the issuance of 7,040 new common shares, with no par value, resulting from the exercising of stock options awarded under the Company's stock options program. The number of Company shares accordingly rose from 136,730,473 to 136,738,497. The Company's capital was increased in May 2012 by the Board of Directors' meeting held 5/9/2012 as a result of the (i) issuance of 4,112 new shares resulting from the conversion of 2,701 debentures and (ii) the issuance of 125,620 new common shares, with no par value, resulting from the exercising of stock options awarded under the Company's stock options program. The number of Company shares accordingly rose from 136,738,497 to 136,868,229. The capital was increased again the same month by the Board of Directors' meeting held 5/24/2012, which ratified the issuance of 33,254,705 new common shares with no par value, resulting from the conversion of 21,652,966 debentures. The number of Company shares accordingly rose from 136,868,229 to 170,122,934. On May 24, 2012 the ENEVA Board of Directors approved a capital increase of R$ 1,000,000,063.00 via the issuance of 22,623,796 new shares. However, the subscribed shares will only exist after the capital increase has been concluded and subsequently ratified, which was concluded in July 2012 and ratified by the Board of Directors' meeting held July 25, 2012. The Company's capital was increased in June 2012 by the Board of Directors' meeting held 6/15/2012, which ratified the issuance of 514 new common shares with no par value, resulting from the conversion of 334 debentures. The number of Company shares accordingly rose from 170,122,934 to 170,123,448. On June 25, 2012 the Board of Directors' meeting ratified the capital increase, approved by the Board of Directors' meeting on May 24, 2012 at 11 AM, of R$ 1,000,000,063.00 (one billion and sixty-three reais), within the authorized capital limit, as a result of the subscription and full payment of the 22,623,796 new common registered shares with no par value by E.ON AG (E.ON). The number of Company shares accordingly rose from 170,123,448 to 192,747,244. Pursuant to the minutes of the Extraordinary General Meeting held by the Company on August 15, 2012, the shareholders in attendance unanimously approved the split of common shares issued by the Company, whereby each existing common share was split into 3 (three) shares of the same class. ENEVA's shareholders are entitled to receive the split shares according to their shareholding at Wednesday, August 15, 2012. The number of Company shares accordingly rose from 192,747,244 to 578,241,732. The Company's capital was increased in January 2013 by the Board of Directors' meeting held 1/10/2013, ratifying the issuance of 147,480 new common shares, with no par value, resulting from the exercising of stock options awarded under the Company's stock options program. The number of Company shares accordingly changed to 578,389,212. The Company's capital was increased in February 2013 by the Board of Directors' meeting held 2/6/2013, ratifying the issuance of 27,000 new common shares, with no par value, resulting from the exercising of stock options awarded under the Company's stock options program. The number of Company shares accordingly changed to 578,416,212.

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FEDERAL PUBLIC SERVICE CVM BRAZILIAN SECURITIES COMMISSION ITR Quarterly Information Corporate Legislation COMMERCIAL AND INDUSTRIAL COMPANIES AND OTHER - as of 9/30/2013

02123-7 ENEVA S/A

04.423.567/0001-21

20.01 - OTHER INFORMATION CONSIDERED SIGNIFICANT TO THE COMPANY However, there was a partial subscription of the capital increase, whereby the share capital as of March 31, 2013 stood at R$ 3,736,269,091.89, less than the figure presented in the minutes to the Board of Directors' meeting held February 06, 2013. The remainder of the share capital was paid in after the end of the first quarter, resulting in a share capital of R$ 3,736,354,722.02. The Company's capital was increased in April 2013 by the Board of Directors' meeting held 4/5/2013, ratifying the issuance of 34,500 new common shares, with no par value, resulting from the exercising of stock options awarded under the Company's stock options program. The number of Company shares accordingly changed to 578,450,712. As a result of this resolution the Company's share capital has changed from R$ 3,736,354,722.02 to R$ 3,736,468,820.55. The Company's capital was increased in May 2013 by the Board of Directors' meeting held 5/8/2013, ratifying the issuance of 29,250 new common shares, with no par value, resulting from the exercising of stock options awarded under the Company's stock options program. The number of Company shares accordingly changed to 578,479,962. As a result of this resolution the Company's share capital has changed from R$ 3,736,468,820.55 to R$ 3,736,568,320.85. On September 16, 2013 the Board of Directors' meeting ratified the Company's capital increase, as approved by the Board of Directors' meeting on July 03, 2013, of R$ 799,999,995.15, within the authorized capital limit, as a result of the subscription and full payment of the 124,031,007 new common registered shares with no par value. The number of Company shares accordingly rose from 578,479,962 to 702,510,969. The Company's share capital has accordingly changed from R$ 3,736,568,320.85 to R$ 4,536,568,316.00.

Shareholdings of over 5% of the shares of each type and class in the Company, including those of individuals
Position on 9/30/2013 (shares) Common shares* Shareholder Eike Fuhrken Batista Centennial Asset Mining Fund LLC Centennial Asset Brazilian Equity Fund LLC E.ON BNDESPAR Other Total Quantity 145,704,988 20,208,840 1,822,065 266,269,556 72,650,210 195,855,310 702,510,969 % 20.7 2.9 0.3 37.9 10.3 27.9 100 Total Quantity 145,704,988 20,208,840 1,822,065 266,269,556 72,650,210 195,855,310 702,510,969 % 20.7 2.9 0.3 37.9 10.3 27.9 100

Company: ENEVA S.A.

*ENEVA's share capital consists solely of common shares.

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Distribution of share capital in our corporate shareholder (Company shareholder), including the shareholdings of individuals
Position on 9/30/2013 (shares) Total % 100.0 100.0 Quantity 1,000 1,000 % 100.0 100.0

Company: Centennial Asset Mining Fund LLC Quotas Shareholder Eike Fuhrken Batista Total Quantity 1,000 1,000

Company: Centennial Asset Brazilian Equity Fund LLC Quotas Shareholder Centennial Asset Mining Fund LLC Total Quantity 1,000 1,000 % 100.0 100.0

Position on 9/30/2013 (shares) Total Quantity 1,000 1,000 % 100.0 100.0

To facilitate your comprehension a summary follows of the corporate changes ENEVA has undergone in the period of one year: On May 27, 2013 E.ON SE. and Mr. Eike Fuhrken Batista ("Parties), the controlling shareholder of ENEVA, signed the Shareholders' Agreement (Agreement), by which the Parties established the main terms and conditions that will govern their relationship as ENEVA shareholders, in order for the Parties to share control of the Company (subject to the Agreement's severance terms). E.ON and Mr. Eike Fuhrken Batista signed an Investment Agreement on March 27, 2013 for the acquisition by E.ON of ENEVA shares held by Mr. Eike Fuhrken Batista, followed by a private capital increase of ENEVA, ratified on September 16, 2013, as detailed earlier.

At September 30, 2012 the Companys share capital consisted of 578,241,732 com mon shares distributed as follows:

CONSOLIDATED SHAREHOLDINGS OF CONTROLLING SHAREHOLDERS MANAGERS AND FREE FLOAT Position at 9/30/2012 Shareholder Controlling Shareholder Executives Board of Directors Executive Board Number of Common Shares (In Units) 311,972,283 % 53.96 Total Number of Shares % (In Units) 311,972,283 53.96

2,438,166 3,769,460

0.42 0.65

2,438,166 3,769,460

0.42 0.65

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FEDERAL PUBLIC SERVICE CVM BRAZILIAN SECURITIES COMMISSION ITR Quarterly Information Corporate Legislation COMMERCIAL AND INDUSTRIAL COMPANIES AND OTHER - as of 9/30/2013

02123-7 ENEVA S/A

04.423.567/0001-21

20.01 - OTHER INFORMATION CONSIDERED SIGNIFICANT TO THE COMPANY Audit Committee* Treasury Stock Other Shareholders Total 260,061,823 578,241,732 44.97 100 260,061,823 578,241,732

44.97 100

Free Float

260,061,823

44.97

260,061,823

44.97

*The Company's Annual Meeting did not convene the Audit Committee in FY 2012.

Shareholdings of over 5% of the shares of each type and class in the Company, including those of individuals
Position on 9/30/2012 (shares) Common shares Shareholder Eike Fuhrken Batista Centennial Asset Mining Fund LLC Centennial Asset Brazilian Equity Fund LLC BNDESPAR E.ON Other Total Quantity 289,941,378 20,208,840 1,822,065 59,823,537 67,869,516 138,576,396 578,241,732 % 50.1 3.5 0.3 10.4 11.7 24.0 100 Total Quantity 289,941,378 20,208,840 1,822,065 59,823,537 67,869,516 138,576,396 578,241,732 % 50.1 3.5 0.3 10.4 11.7 24.0 100

Company: ENEVA S.A.

Distribution of share capital in our corporate shareholder (Company shareholder), including the shareholdings of individuals
Position on 9/30/2012 (shares) Total % 100.0 100.0 Quantity 1,000 1,000 % 100.0 100.0

Company: Centennial Asset Mining Fund LLC Quotas Shareholder Eike Fuhrken Batista Total Quantity 1,000 1,000

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ITR - Quarterly Information - 9/30/2013 - ENEVA SA Version : 1

Company: Centennial Asset Brazilian Equity Fund LLC Quotas Shareholder Centennial Asset Mining Fund LLC Total Quantity 1,000 1,000 % 100.0 100.0

Position on 9/30/2012 (shares) Total Quantity 1,000 1,000 % 100.0 100.0

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3Q13 Earnings Release

3Q13 Earnings Release

Relatrio de Resultados

Economic and Financial Performance


The new accounting standards set forth by IFRS 11, which became effective for annual periods beginning on or after January 1, 2013, eliminated proportionate consolidation as a method to account for jointly controlled entities (JCE). According to the new standards, JCEs fall within the definition of joint venture and should be accounted for under the equity method. These standards were applied retroactively to joint ventures held on the date of initial application. Pecm I and MPX E.ON Participaes are now recognized under the equity method. For comparison purposes, we also present the 3Q12 statements in accordance with IFRS 11.

1. Net Operating Revenues


In 3Q13, ENEVA recorded consolidated Net Operating Revenues of R$ 317.3 million, comprised largely by the revenues from the Regulated Market Power Purchase Agreements (PPA) of Itaqui and Parnaba I, which reached, respectively, R$ 95.2 million and R$ 212.5 million in the period. The breakdown of operating revenues for 3Q13 is as follows:
Net Operating Revenues (R$ million) Gross Revenue Fixed Revenue Variable Revenue Adjustments from previous months Deductions from Operating Revenues Net Operating Revenues Consolidated 353.5 184.6 180.0 (11.2) (36.3) 317.3 Itaqui 106.1 73.4 44.7 (12.1) (11.0) 95.1 Parnaba I 236.5 103.9 131.8 0.9 (24.0) 212.5 Amapari 10.8 7.4 3.5 (1.1) 9.7

2. Operating Costs

Operating Costs (R$ thousand) Personnel and Management Fuel Outsourced Services Leases and Rentals Energy Acquired for Resale Other Costs
Transmission Charges Compensation for Downtime

3Q13 (11,954) (156,393) (28,777) (43,867) 14,410 (32,573)


(15,208) (23,283)

3Q12 (796) (17,945) (631) (1,093) 14,654


-

% 1402.3% 771.5% 4462.8% 3914.0% -322.3%


-

3Q13 Earnings Release

Relatrio de Resultados
Total Depreciation and Amortization Total Operating Costs (259,153) (44,667) (303,821) (5,810) (1,500) (7,310) 4360.3% 2877.6% 4056.1%

Operating Costs totaled R$ 303.8 million in 3Q13, impacted mainly by an increase of R$ 138.4 million in fuel costs relative to the same period of the preceding year, due to the beginning of commercial operations of two power plants (Itaqui and Parnaba I), which were dispatched by the ONS the full 3Q13. The cost of R$ 156.4 million recorded in the quarter is divided into R$ 63.2 million incurred by Itaqui, R$ 75.3 million incurred by Parnaba I and R$ 17.9 million by Amapari. The beginning of commercial operations of these plants also impacted the Outsourced Services account, which reached R$ 28.8 million in 3Q13, mainly due to higher costs with utilities, machinery and equipment repair and mechanical maintenance service. The positive R$ 14.4 million recorded in the Energy Acquired for Resale account refers mostly to accounting adjustments to the amounts recorded in 2Q13 for Itaqui (+R$ 13.3 million) and Pecm II (+R$ 1.4 million). The Other Costs account, which totaled R$ 29.6 million in 3Q13, is mainly composed by transmission charges (TUST) and compensation for downtime of the power plants (unavailability charges), which are listed in the chart above. Downtime charges are measured on an hourly basis and calculated based on the difference between the actual production of the generating units and the authorized capacity discounting forced and programmed stoppage rates, internal consumption of the units and grid losses. Itaqui and Parnaba I had to reimburse discos for the energy not delivered by the difference between their declared variable cost per MWh (CVU) and the spot price (PLD). In 3Q13, these costs amounted to R$ 21.7 million and R$ 1.6 million for Itaqui and Parnaba I, respectively.

3. Operating Expenses
In the quarter, Operating Expenses, excluding Depreciation & Amortization, amounted to R$ 47.1 million, an 11.7% reduction when compared to 3Q12. In the same period, the holding company posted Operating Expenses, excluding Depreciation & Amortization, of R$ 33.1 million, compared to the R$ 38.7 million recorded in 3Q12. During the period, the IPCA inflation index rose by 5.71%.
Operating Expenses (R$ thousand) Personnel and Management Outsourced Services Leases and Rentals Other Expenses Total Depreciation and Amortization Total Operating Expenses 3Q13 (22,162) (16,979) (2,770) (5,209) (47,120) (686) (47,806) Consolidated 3Q12 (25,939) (21,143) (2,474) (3,790) (53,345) (504) (53,849) % -14.6% -19.7% 12.0% 37.4% -11.7% 36.1% -11.2% 3Q13 (17,681) (10,920) (1,927) (2,565) (33,092) (466) (33,558) Holding 3Q12 (20,540) (13,817) (2,037) (2,269) (38,663) (349) (39,012) % -13.9% -21.0% -5.4% 13.0% -14.4% 33.4% -14.0%

The main changes are as follows:

3Q13 Earnings Release

Relatrio de Resultados

Personnel: Personnel expenses totaled R$ 22.2 million in 3Q13, compared to R$ 25.9 million reported in the same period of the preceding year. The highlights is:

Reduction in stock option-related expenses resulting mainly from the decrease in stock price since 3Q12 (-R$ 8.0 million).

Outsourced services: Expenses with outsourced services in 3Q13 totaled R$ 17.0 million, down 19.7% in relation to 3Q12. The highlights are:

Decrease in expenses with shared services in the holding company, resulting from the reduction of EBXs service structure (-R$ 2.3 million); Decrease in expenses with technical and legal consulting services at the holding company (-R$ 2.1 million);

4. EBITDA
In 3Q13, ENEVA reported a positive EBITDA of R$ 11.0 million, resulting mainly from: Parnaba I: EBITDA amounted to R$ 58.8 million, with the plants four generating units fully operational during the entire 3Q13. EBITDA margin reached 27.7%. Itaqui: EBITDA amounted to negative R$ 5.9 million, impacted by high operating costs mostly attributable to unavailability charges and high fuel costs (coal, diesel and quicklime). ENEVA holding: Operating expenses amounted to R$ 33.6 million resulting in a negative EBITDA of R$ 33.1 million.

5. Net Financial Result


Financial Result (R$ thousand) Fx Rate Fluctuations Marking-to-market derivatives Derivatives Liquidation Interest Revenue Debt Service Other Net Financial Result 3Q13 (1,118) 102,630 (105,031) 9,545 (86,744) (17,960) (98,679) 3Q12 (2,287) (20,526) 13,636 21,911 (11,308) (12,482) (11,056) % -51.1% -600.0% -870.2% -56.4% 667.1% 43.9% 792.5%

In 3Q13, ENEVA recorded net financial expenses of R$ 98.7 million, compared to net expenses of R$ 11.1 million in 3Q12, impacted mainly by the increase in interest expenses in the holding company (+R$ 29.8 million), Itaqui (+R$ 38.1 million); Pecm II (+R$ 6.4 million) and Parnaba I (+R$ 16.0 million). Given the end of the grace period for interest payments on the Itaqui, Pecm II and Parnaba I long-term debts, interest due, which until then was mostly capitalized, started being expensed. Higher interest expenses at the holding level are related to the growth in debt motivated by increased cash needs in the subsidiaries resulting from energy acquisition costs due to delays in the startup of the power plants.

3Q13 Earnings Release

Relatrio de Resultados
Other financial expenses were impacted by structuring fees related to the R$ 800 million capital increase concluded in September (+R$ 16.9 million).

6. Equity Income
The company reported a negative equity income of R$ 22.8 million, mainly impacted by losses incurred by Pecm I. The following analysis considers 100% of the projects. ENEVA holds an interest of 50.0% in Pecm I and 33.3% in OGX Maranho.

6.1. Pecm I (Income Statement available on page 19) In 3Q13, Pecm I reported net revenues of R$ 217.2 million. A breakdown of Operating Revenues for Pecm I is presented below:
Operating Revenues (R$ million) Gross Revenue Fixed Revenues Variable Revenues Adjustments from previous months Deductions from Revenues Net Revenue Pecm I 244.5 142.8 96.2 5.5 (27.3) 217.2

Operating Costs, excluding depreciation and amortization, totaled R$ 174.9 million, an increase of 16.9% compared to the same period of last year. Fuel costs reached R$ 109.3 million, split mainly between coal (R$ 86.4 million) and diesel oil (R$ 14.0 million) costs. Fuel costs in the quarter were inflated due to the process of shutting down and restarting of the plant during stoppages in the period. Operating costs in 3Q13 were also impacted by costs associated with downtime (unavailability charges), in the amount of R$ 27.7 million. Downtime charges are measured on an hourly basis and calculated based on the difference between the actual production of the generating units and the authorized capacity discounting forced and programmed stoppage rates, internal consumption of the units and grid losses. Pecm I had to reimburse discos for the energy not delivered by the difference between their declared variable cost per MWh (CVU) and the spot price (PLD). 3Q13 was the first quarter in which Pecm I recorded a positive EBITDA, with the plants two generating units fully operational and without the cost burden of power purchases. Pecm I reported a positive EBITDA of R$ 40.1 million in the quarter. Net financial expenses amounted to R$ 71.4 million, compared to R$ 21.9 million in 3Q12, impacted mainly by increased interest expenses related to the end of the grace period of the long-term project loans, in July 2012 and higher losses on currency hedging derivatives.

3Q13 Earnings Release

Relatrio de Resultados
Pecm I reported a net loss of R$ 43.0 million in 3Q13.

6.2. OGX Maranho OGX Maranhos net revenues in 3Q13 amounted to R$ 91.0 million, with a cumulative production of 283.4 million m3 of gas in the period. EBITDA in the quarter reached R$ 83.3 million, a 104.0% increase as compared to the figure reported last quarter. OGX Maranho recorded a net profit of R$ 22.3 million in 3Q13.
Income Statement
(R$ thousand)
1

OGX Maranho 1Q13 2Q13 92 days 252.4 95,439 (11,515) 83,924 (35,816) 2,446 (16,697) 7,006 40,863 4,871 (16,544) (18,257) 182 (12,121) (26,604) 20,286 10,933 (2,933) (1,056) 6,944 3Q13 92 days 283.4 103,595 (12,588) 91,007 25,698 (22,117) 1,080 (12,325) 83,343 (37,054) (1,157) (10,864) 265 (8,835) (929) (1,365) 34,268 (8,766) (3,156) 22,346

Operating Period

(2)

65 days 83.5 39,279 (4,522) 34,757 (3,597) (2,718) (6,317) (5,010) 17,115 (5,667) (32,345) (5,134) 1,729 (5,148) 3,717 (5,432) (26,031) 6,306 2,271 (17,454)

Gas Production - in MMm3 (3) Gross Operating Revenues Deductions from Gross Revenue Net Operating Revenues Production costs Royalties, Special Part. And Government Part. SG&A Exploration Expenses EBITDA Depreciation and Amortization Write-off of wells Net Financial Income Financial Income Financial Expenses Foreign Exchange Derivatives Earnings Before Taxes IR CSLL Net Income
(1)

Preliminary and not audited figures. (2) Date of closing for book values: 25th day of the month. (3) Gas production related to OGX Maranhos participation in the blocks (70%).

7. Net Income
In 3Q13, ENEVA reported a net loss of R$ 178.0 million, impacted mainly by unavailability charges resulting from downtime of the coal thermal power plants in start-up operation and interest expenses related to the end of the grace period of the long-term project loans and higher leverage at the holding company.
Income Statement (R$ million) 3Q13 3Q12 %

3Q13 Earnings Release

Relatrio de Resultados
Net Operating Revenues Operating Costs Operating Expenses Net Financial Result Equity Income Other Revenues/Expenses Earnings Before Taxes Taxes Payable and Deferred Minority Interest NET INCOME EBITDA 317.3 (303.8) (47.8) (98.7) (22.8) (1.5) (157.3) (15.4) (5.3) (178.0) 11.0 9.9 (7.3) (53.8) (11.1) (30.9) (1.8) (95.0) 8.2 0.1 (86.7) (49.3) 3115.3% 4056.1% -11.2% 792.5% -26.3% -16.0% 65.6% -286.7% -5810.4% 105.4% -122.3%

8. Debt
As of September 30, 2013, consolidated gross debt amounted to R$ 5,551.3 million, a 3.2% decrease in relation to the amount recorded as of June 30, 2013. Consolidated debt profile (R$ million)

3,023 54%

2,528 46%

1,554 28% 3,998 72%

Short Term

Long Term

Working Capital

Project Finance

The balance of short-term debt at the end of September 2013 was R$ 2,527.8 million, or R$ 123.3 million lower than the amount recorded as of June 30, 2013. R$ 1,085.8 million out of the total balance of short-term debt is allocated in the projects, as follows: R$ 268.1 million refer to the current portion of the long-term debts of Pecm II, Itaqui and Parnaba I; R$ 113.2 million refer to bridge loans to Parnaba I, which after the closing of 3Q13 were rolled over until December 2014. The outstanding balance will be paid-off in 15 monthly installments, starting in October 2013; R$ 704.4 million refer to bridge loans to Parnaba II, which should be paid-off until the end of 2013 with the disbursement of the long-term financing packages. The remaining balance of short-term debt, R$ 1,442.1 million, is allocated in the holding company. During 3Q13, ENEVA holding paid-off R$ 102.2 million (principal + accrued interest) of its short-term debt with proceeds from the capital increase concluded in September, 2013. According to the new IFRS standards, Pecm I is no longer included in consolidated statements. As of September 30, 2013, the gross debt of Pecm I (50%) amounted to R$ 1,082.6 million.
6

3Q13 Earnings Release

Relatrio de Resultados
In September, 2013, the average cost of debt was 9.3% p.a. and the average maturity was 4.5 years. Debt Maturity Profile* (R$ million)

2,482.9

1,442.1

Working Capital

356.6

1,085.8

Project Finance 65.8 235.0


2015

239.7
2016 From 2017 on

Cash & Cash Equivalents

2013

2014

*Values incorporate principal + capitalized interest + charges and exclude outstanding convertible debentures.

Net debt in 3Q13 amounted to R$ 5,194.7 million, 7.0% lower than the value reported on June 30, 2013. Consolidated Cash and Cash Equivalents totaled R$ 356.6 million at the end of September, 2013, an increase of R$ 207.0 million as compared to the balance in June 30, 2013. However, 3Q13 cash revenues for Itaqui were inflated by R$ 72.3 million due to an overstatement made by CCEE. The amount was recorded under other current liabilities and will be deducted from future revenues. The adjusted consolidated cash balance at the end of the quarter, excluding the impact of CCEEs overstatement, would thus be R$ 284.3 million.

9. Capital Expenditures (accounting view)


The fifth turbine of Parnaba I was spun-off and transferred to Parnaba III during 3Q13. Parnaba III is held by MPX E.ON Participaes, ENEVAs joint-venture with E.ON, and thus is accounted for under the equity method. Excluding the impact of the spin-off (-R$303.0 million), capital expenditures at Parnaba I in 3Q13 would amount to R$ 51.7 million. Additionally, ENEVA invested a total of R$ 164.8 million in the construction of Pecm II, Itaqui and Parnaba II, excluding capitalized interest in the projects of R$ 45.1 million. Capital Expenditures (R$ million)
3Q13 Capex Itaqui Pecm II Parnaba I (adjusted) Parnaba II 8.8 72.2 51.7 83.8 Interest Capitalized 23.0 22.1 Capex 54.9 71.0 233.9 192.5 2Q13 Interest Capitalized 23.8 16.5

3Q13 Earnings Release

Relatrio de Resultados
In 3Q13, ENEVA invested through OGX Maranho R$ 25.3 million in the exploration campaign in the Parnaba Basin and in the development of the Gavio Real and Gavio Branco fields, compared to the R$ 28.2 million invested in 2Q13. ENEVAs investment in Pecm I (50% of the project) amounted to R$ 1.4 million in the period.

Eneva S.A.

(Publicly-held company) Quarterly Information - ITR at September 30, 2013 and report on review of quarterly information

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

Reporting entity MPX Energia S.A. ("Company") was founded on April 25, 2001 and is headquartered in Rio de Janeiro. The Extraordinary General Meeting held on September 11, 2013 approved the decision to change the Company's name to Eneva S.A. Its core activity is the generation of electricity through the development of a diversified portfolio of sources, including mineral coal, natural gas and renewable sources. The Company has a diversified portfolio of projects, including thermal power plants in Brazil, in addition to renewable energy projects, such as solar energy. In order to integrate its operations it is also implementing natural-gas production and exploration projects in Brazil to supply its power stations and for selling. The Company participates as a quotaholder or shareholder of the companies that implement these projects and certain projects will be implemented in partnership with other players in the energy sector. These projects were primarily funded through funds obtained under the Company's public share offering made on December 14, 2007 and January 11, 2008 (supplementary batch), amounting to R$ 2,035,410, in addition to financing and the issuance of 21,735,744 convertible debentures on June 15, 2011 amounting to R$ 1,376,527. On May 24, 2012, 21,653,300 debentures were converted triggering the issuance of 33,255,219 new shares, as a result of the corporate reorganization implemented by the Company. On March 28, 2013 the controlling shareholder of MPX Energia S.A., Mr. Eike Fuhrken Batista, entered into an investment agreement with E.ON SE consisting of the following events:

(a) (b)

On May 29, 2013 E.ON acquired Company shares held by Eike Batista accounting for approximately 24.5% of MPX's share capital. On the date the MPX shares were acquired, E.ON and Eike Batista entered into a new shareholders' agreement, which regulated the exercising of voting rights and restrictions on the transfer of shares held by them. In August 2013 a private capital increase was concluded of approximately R$ 800 million, with a subscription price fixed at R$ 6.45 per share. The shareholders will subsequently be asked to approve the incorporation by the Company at equity value of MPX E.ON Participaes S.A., a joint-venture between the Company and EON ("JV"). As shown in the table below, on September 30, 2013 the economic group includes the Company and its equity interests in associated companies, direct and indirect subsidiaries, joint ventures and the Multimercado MPX 63 investment fund. The preoperational companies are (for further details about the subsidiaries see Note 12):

(c) (d)

UTE Parnaba Gerao de Energia S.A.; Porto do Pecm Gerao de Energia S.A.; MPX Pecm II Gerao de Energia S.A.; UTE Porto do Itaqui Gerao de Energia S.A.,; Amapari Energia S.A.;

1 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

MPX Comercializadora de Energia Ltda., MPX Comercializadora de Combustveis Ltda., MPX Tau Energia Solar Ltda.

* Joint subsidiary. ** Associated company.

2 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Directly or by way of its subsidiaries, joint subsidiaries and associated companies, the Company has been making the investment required to finalize the ventures in its portfolio and subsequently begin the commercial operation thereof. Management understands that the Company has the capacity to honor all financial commitments, as it has structured its major ventures using Project Finance, investing capital of approximately 25% of the total, which takes place on a pari passu basis after funds arrive from the financiers. These ventures also have Electricity Purchase Contracts in a Regulated Environment - CCEAR, generating guaranteed revenue by contracts for between 15 and 20 years. Eneva S.A. took out short-term loans in 2012 of approximately R$ 800 million to finance part of the investments made in its ventures the same year. As of September 30, 2013 the consolidated loans maturing in the next 12 months can be summarized as follows:

In the next 3 months: R$ 2.07 billion Between 3 and 6 months: R$ 156 million Between 6 and 9 months: R$ 115 million Between 9 and 12 months: R$ 193 million

The short-term debts in force in September 2013 were taken out to finance part of the investments made and to meet working capital requirements. In the 3rd quarter the Company completed the capital increase of R$ 800 million, which supported the flow of investment in the ventures and helped reduce the short-term debt. The Company also is working to partially settle and roll forward its short-term debts to the long term and is mainly considering the following events in its business plan:

Long-term financing for UTE Parnaba II, whose loan of R$ 450 million has been approved by the BNDES. Long-term financing for UTEs Panaba III and IV of R$ 120 million. Possibility of re-leveraging the Pecm II Gerao de Energia and UTE Porto de Itaqui ventures in operation via a debentures issuance of R$ 650 million. Extending the short-term debt of the UTE Parnaba Gerao de Energia venture in operation by a total of R$ 125 million. Issuance of long-term debentures by the Company amounting to R$ 1.2 billion and UTE Parnaba II, of R$ 260 million. The Company is planning to issue the debentures in the first half of 2014, where the funds will be used to fully settle its short-term debt. The ventures' short-term debt will be extended by long-term financing and issuances of debentures qualifying for infrastructure incentives (UTE Parnaba Gerao, Pecm II Gerao de Energia and UTE Porto de Itaqui have been classified as priority ventures by MME)."

3 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Licenses and permits ENEVA is committed to obtaining all the legal licenses and permits required for each of its facilities and activities. The Company and its investees have the following environmental licenses and permits as of September 30, 2013:
Held by UTE PORTO DO ITAQUI GERAO DE ENERGIA S.A PORTO DO PECM GERAO DE ENERGIA S.A. MPX PECM II GERAO DE ENERGIA S.A. AMAPARI ENERGIA S.A. Ventures UTE PORTO DO ITAQUI TRANSMISSION LINE UTE PORTO DO PECEM I PECEM I TRANSMISSION LINE UTE PORTO DO PECM II PECEM II TRANSMISSION LINE UTE SERRA DO NAVIO (including TL) USINA SOLAR TAU 1MW - (including TL) USINA SOLAR TAU 4MW USINA SOLAR TAU (45MW) MARANHO IV AND V MARANHO III MARANHO IV AND V (cycle closure) MCE NOVA VENECIA 2 UTE PARNAIBA I UTE PARNABA II PARNABA IV (56.4 MW) UTE PORTO DO AU I UTE PORTO DO AU II TRANSMISSION LINE ELICA MARAVILHA ELICA MUNDUS MPX SUL TPP BARRAGEM MPX SUL UTE SEIVAL SEIVAL MINE CGE MORADA NOVA CGE SO FRANCISCO CGE MILAGRES CGE SANTA LUZIA CGE PEDRA VERMELHA I CGE ASA BRANCA CGE SANTO EXPEDITO CGE PEDRA VERMELHA II CGE PAU DARCO CGE PEDRA ROSADA CGE PAU BRANCO CGE ALGAROBA CGE UBAEIRA I CGE UBAEIRA II CGE SANTA BENVINDA I CGE SANTA BENVINDA II CGE BOA VISTA I CGE BOA VISTA II CGE BONSUCESSO CGE PEDRA BRANCA Licenses LO 1101/2012 LO 1,061/2011 LO 1,062/2012 LO 889/2012 LO 09/2013 LO 108/2013 LO 172/2013 LO 133/2012 LI 15/2012 LP 253/2012 LO 559/2012 LI 274/2011* LI 273/2011* LO 336/2013 LI 111/2012* LI 003/12* LI 033/2013 LI IN 00882* LP IN 15964* LI IN 019365 LI IN 000208* LI IN 000207* LP 332/2009* LP 601/2010* LI 589/2009 LO No. 9221/2009* LP 0010/2012 LP 0083/2012 LP 0084/2012 LP 0085/2012 LP 0090/2012 LP 0091/2012 LP 0092/2012 LP 0093/2012 LP 0184/2013 LP 0187/2013 LP 0189/2013 LP 0186/2013 LP 0188/2013 LP 0185/2013 LP 0183/2013 LP 0191/2013 LP 0268/2013 LP 0270/2013 LP 0271/2013 LP 0269/2013 Expiry 10.26.2017 12.16.2017 12.28.2015 9.26.2015 2.8.2016 7.17.2016 3 years 2.28.2014 3.5.2014 8.15.2015 12.20.2016 12.27.2013 12.5.2013 9.23.2017 5.9.2013 11.11.2013 3.22.2015 10.14.2012 3.1.2013 4.24.2015 5.22.2012 5.22.2012 12.22.2012 5.21.2012 2.17.2014 10.20.2013

MPX TAU ENERGIA SOLAR LTDA. UTE PARNABA GERAO DE ENERGIA S.A. UTE PARNABA II GERAO DE ENERGIA S.A. UTE PARNABA GERAO DE ENERGIA S.A. ENEVA S.A ENEVA S.A. ENEVA S.A. UTE PARNABA IV GERAO DE ENERGIA S.A.

UTE PORTO DO AU ENERGIA S.A. NOVA SISTEMAS DE ENERGIA LTDA. ENEVA S.A. UTE MPX SUL ENERGIA LTDA. USINA TERMELTRICA SEIVAL LTDA. SEIVAL SUL MINERAO LTDA. CENTRAL ELICA MORADA NOVA LTDA. CENTRAL ELICA SO FRANCISCO LTDA. CENTRAL ELICA MILAGRES LTDA. CENTRAL ELICA SANTA LUZIA LTDA. CENTRAL ELICA PEDRA VERMELHA I LTDA. CENTRAL ELICA ASA BRANCA LTDA. CENTRAL ELICA SANTO EXPEDITO LTDA. CENTRAL ELICA PEDRA VERMELHA II LTDA. CENTRAL ELICA PAU DARCO LTDA CENTRAL ELICA PEDRA ROSADA LTDA CENTRAL ELICA PAU BRANCO LTDA CENTRAL ELICA ALGAROBA LTDA CENTRAL ELICA UBAEIRA I LTDA CENTRAL ELICA UBAEIRA II LTDA CENTRAL ELICA SANTA BENVINDA I LTDA CENTRAL ELICA SANTA BENVINDA II LTDA CENTRAL ELICA BOA VISTA I LTDA CENTRAL ELICA BOA VISTA II LTDA CENTRAL ELICA BONSUCESSO LTDA CENTRAL ELICA PEDRA BRANCA LTDA

8.10.2014 4.26.2015 5.2.2015 5.10.2015 5.6.2015 5.10.2015 5.6.2015 5.23.2015 5.10.2015 6.18.2015 6.18.2015 6.18.2015 6.18.2015

(*) The renewal of environmental licenses was applied for at least 120 (one hundred and twenty) days before the validity expires, as fixed in the respective license, and is extended automatically until the respective environmental authority states its final position. (Supplementary Law 140/2011 art. 14 (4).

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Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

3 (a)

Presentation of the financial statements Statement of compliance with IFRS and BR GAAP The parent company only and consolidated quarterly information for the quarter ended September 30, 2013 is presented as follows: Consolidated quarterly information The consolidated quarterly information is being presented in accordance with CPC 21 (R1) and IAS 34 that applies to Quarterly Information - ITR, presented in accordance with the standards issued by the Brazilian Securities Commission - CVM. Parent company quarterly information The parent company quarterly information is being presented in accordance with CPC 21 (R1) that applies to Quarterly Information - ITR, in accordance with the standards issued by the Brazilian Securities Commission - CVM. For the purpose of BR GAAP, Law 11941/09 abolished deferred assets, permitting the maintenance of the balance accumulated up to December 31, 2008, which may be amortized in up to 10 years, subject to impairment tests. Following the adoption of IFRS, the Company recorded the amount of R$ 26.192 in the consolidated accumulated losses, net of tax as of January 1, 2009, corresponding to its and its subsidiaries' deferred charges at that date. The difference between the parent company and consolidated shareholders' equity is therefore related to the deferred asset which was recognized in accumulated losses in the consolidated shareholders' equity. The table below shows the reconciliation between the parent company and consolidated shareholders' equities as of September 30, 2013: September 30, 2013 Shareholders' equity - Parent company Deferred charges - Law 11941/09 Minority interests Shareholders' equity - Consolidated 2,741,981 (18,878 ) 110,033 2,833,136

The quarterly information as at September 30, 2013 was approved by the Board of Directors on November 13, 2013. (b) Reporting basis The parent company and consolidated quarterly information has been prepared based on the historic cost basis, adjusted to realization value when applicable, except for financial instruments held at fair value, including derivative instruments.

5 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(c)

Functional and reporting currency The parent company and consolidated quarterly information is being presented in Brazilian reais, which is the Company's functional currency. All financial information presented in reais has been rounded to the nearest thousand, except when otherwise indicated. In accordance with CPC 02 - Effects of the Changes in Financial Statement Exchange and Translation Rates, approved by CVM Resolution 534 issued January 29, 2008, Company Management decided that its functional currency is the Brazilian real and the functional currency of its overseas joint venture is the Chilean peso (MPX Chile Holding Ltda.), Colombian peso (MPX Colombia S.A.) and the euro (MPX Austria GmbH). These currencies are determined by business plans, the economic environment and primarily operating costs. Monetary assets and liabilities denominated in foreign currencies were translated into reais at the foreign exchange rate ruling at the balance sheet date.

(d)

Use of judgments and estimates Preparing the parent company and consolidated quarterly information in accordance with IFRS and CPC standards requires Management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported values of assets, liabilities, revenue and expenses. The actual future results may differ from these estimates. Estimates and assumptions are continually reviewed. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about assumptions and estimates that could result in adjustments in the next financial year have been included in the following notes:

Note 11 - Recoverable and deferred taxes, denoting projections based on future earnings that will generate the funds to realize these assets. Notes 13 and 14 - Property, Plant and Equipment and Intangible Assets respectively, primarily in respect of analyzing the recoverable value of assets and determining the economic useful lives thereof. Note 18 - Financial instruments and risk management relating to the judgments used to determine the realization and fair values of the derivative financial instruments and nonderivative financial instruments. Note 19 - Provision for contingencies, referring to the judgment used to determine the risk of loss posed by contingencies. Note 22 - Share-based remuneration plan for the assumptions used to calculate the fair value of the options awarded.

6 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Significant accounting policies Except for the adoption of IFRS 10 and 11, whose accounting policy is described below, the quarterly information has been prepared in accordance with the same accounting practices used to prepare the financial statements as at December 31, 2012, published in the Official Press on February 19, 2013. This quarterly information should therefore be read in conjunction with the aforesaid Financial Statements as at December 31, 2012. IFRS 10 establishes a single control method model that applies to all entities, including specific purpose entities. The changes introduced by IFRS 10 required Management to exercise significant judgment to determine which entities are subsidiaries and therefore have to be consolidated by a parent company, in comparison with the requisites formally established by IAS 27. IFRS 11 eliminates the option of recording joint subsidiaries (ECC) by using proportional consolidation. Instead, the ECCs classified as joint ventures should be recorded by using the equity accounting method. The interests in the joint subsidiaries Porto do Pecm Gerao de Energia S.A., Porto do Pecm Transportadora de Minrios S.A., OGMP Transporte Areo Ltda., Pecm Operao e Manuteno de Unidades de Gerao S.A., MABE Construo e Administrao de Projetos Ltda., MPX Chile Holding Ltda., Seival Participaes S.A., UTE MPX Sul Energia Ltda., Parnaba Participaes S.A., UTE Porto do A Energia S.A., Porto do A II Energia S.A. and MPX E.ON Participaes S.A. are valued by the equity method in the parent company and consolidated quarterly information, pursuant to IFRS 11.

7 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

The table below shows the changes made to the comparative balances restated in this quarterly information:
Consolidated December 31, 2012 Originally reported Assets Current Cash and cash equivalents Securities Accounts receivable Subsidies receivable - fuel consumption account Inventories Prepaid expenses Recoverable taxes Gain on derivatives Other advances Secured deposits Dividends receivable Other accounts receivable 590,469 3,441 152,114 17,561 211,718 40,462 57,438 3,018 20,267 4,237 3 1,100,728 Noncurrent Long-term Prepaid expenses Secured deposits Subsidies receivable - fuel consumption account Recoverable tax Deferred income and social contribution taxes Loan with subsidiaries Accounts receivable from other related parties Accounts receivable from associated companies Advance for future capital increase - with associated companies Embedded derivatives Other accounts receivable (71,192 ) (130,769 ) (69,031 ) (21,111 ) (20,028 ) (18,484 ) (4,202 ) (3 ) (334,820 ) 765,908 519,277 3,441 21,345 17,561 142,687 19,351 37,410 3,018 1,783 35 Adjustments Restated

8,705 137,717 24,617 34,709 456,123 359 8,575 3,732 479 675,016

(211 ) (2,069 ) (10,675 ) (150,575 ) 134,567 (7,441 ) 3,061 12,425

8,494 135,648 24,617 24,034 305,548 134,926 1,134 6,793 12,425 479 654,098 833,955 5,570,399 215,236 8,039,596

(20,918 ) 770,999 (1,792,416 ) (34,429 ) (1,411,584 )

Investments Property, plant and equipment Intangible assets

62,956 7,362,815 249,665 9,451,180

8 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Consolidated December 31, 2012 Originally reported Liabilities Current Trade payables Loans and financing Debits with associated companies Debts with subsidiaries Debts with other related parties Debentures Taxes and contributions payable Social and labor obligations Losses on derivative transactions Contractual retention Profit sharing Dividends payable Other liabilities 228,638 1,915,402 3,407 19,057 111 11,375 12,980 39,506 133,935 23,900 1,960 16,888 2,407,159 Non-current Loans and financing Debts to other related parties Debentures Embedded derivatives Losses on derivative transactions Provision for unsecured liabilities Deferred income and social contribution taxes Provision for dismentlement Other provisions 4,151,947 215 4,954 166,992 10,431 4,197 710 4,339,446 Shareholders' equity Capital Capital reserve Equity appraisal adjustments Accumulated losses Shareholders' equity attributable to controlling shareholders Minority interests Total shareholders' equity 3,731,734 321,904 (119,067 ) (1,384,971 ) 2,549,600 154,975 2,704,575 9,451,180 (3,437 ) (3,437 ) (1,411,584 ) (113,377 ) (95,428 ) 26,783 (3,407 ) (15,068 (4,134 ) (3,117 ) (16,555 ) (56,561 ) (3,267 ) (13,563 ) (297,694 ) (1,047,141 ) 215 (72,195 ) 19,840 (8,383 ) (2,079 ) (710 ) (1,110,453 ) 115,261 1,819,974 26,783 3,989 111 7,241 9,863 22,951 77,374 20,633 1,960 3,325 2,109,465 3,104,806 430 4,954 94,797 19,840 2,048 2,118 3,228,993 3,731,734 321,904 (119,067 ) (1,384,971 ) 2,549,600 151,538 2,701,138 8,039,596 Adjustments Restated

9 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Statement of operations for the year


Consolidated September 30, 2012 Originally reported Revenue from goods sold and services provided Cost of goods and/or services sold Gross profit Operating income/(expenses) General and administrative Personnel and management Other expenses Outsourced services Depreciation and amortization Leasing and rentals Other operating revenue Other operating expenses Unsecured liability Losses on the sale of assets Provision for investment losses Equity in income of subsidiaries Income before financial income/(loss) and taxes Financial income Financial income Exchange variance gain Fair value of debentures Interest-earning bank deposits Derivative financial instruments Other financial revenue Financial expenses Exchange variance loss Derivative financial instruments Debenture interest/cost Fair value of debentures Other financial expenses Result before tax on net income Income and social contribution taxes on profit Current Deferred charges Consolidated net result for the period Net income/(loss) for the year Attributed to partners of the Parent company Attributed to minority partners Income/(loss) per share Basic and diluted loss per share (R$) (0.5158 ) 0.0000 (0.5158 ) 274,685 (299,544 ) (24,859 ) (215,645 ) (195,386 ) (90,124 ) (15,820 ) (76,338 ) (3,100 ) (10,004 ) 1,577 (580 ) (7 ) (468 ) (106 ) (21,256 ) (240,504 ) (98,678 ) 70,412 59,268 62,600 65,294 (124,265 ) 7,515 (169,090 ) (69,450 ) 95,102 (130,691 ) (64,051 ) (339,182 ) 40,905 (1,775 ) 42,680 (298,277 ) (298,277 ) (299,371 ) 1,094 4 Adjustments (245,999 ) 275,709 29,710 (35,605 ) 31,359 15,262 4,694 9,739 883 779 (605 ) (8,487 ) (8,611 ) 17 108 (57,872 ) (5,895 ) 19,951 (343,260 ) (38,017 ) (3,012 ) (301,538 ) (693 ) 363,211 60,312 304,470 (1,571 ) 14,056 (14,052 ) 493 (14,545 ) 4 4 Restated 28,686 (23,835 ) 4,851 (251,250 ) (164,027 ) (74,862 ) (11,126 ) (66,599 ) (2,217 ) (9,225 ) 972 (9,067 ) (8,618 ) (451 ) 2 (79,128 ) (246,399 ) (78,727 ) (272,848 ) 21,251 62,600 62,282 (425,803 ) 6,822 194,121 (9,138 ) 399,572 (130,691 (65,622 ) (325,126 ) 26,853 (1,282 ) 28,135 (298,273 (298,273 ) (299,371 ) 1,098

10 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Statement of cash flows - indirect method


Consolidated September 30, 2012 Originally reported Cash flows from operating activities Net income/(loss) before IR and CSLL Adjustments to reconcile loss to cash flow from operating activities Depreciation and amortization Equity in income of subsidiaries Operations with derivative financial instruments Stock options awarded Amortization of deferred charges Investment devaluation Provision for unsecured liabilities Provision for dismentlement Minority interests Deferred income and social contribution liabilities, net Current income and social contribution taxes Debenture interest/cost Fair value of debentures Interest on loans and related parties Equity appraisal (339,183 ) 14,057 (325,126 ) Adjustments Restated

3,100 21,256 29,163 31,943 106 (769 ) (42,680 ) 1,775 130,692 (62,600 54,988 (53,723 ) (225,932 )

3,595 57,872 (2,932 ) (1 ) (108 8,618 898 42,680 (1,775 ) (35,915 ) 86,989

6,695 79,128 26,231 31,942 (2 ) 8,618 129

130,692 (62,600 ) 19,073 (53,723 ) (138,943 )

Changes in assets and liabilities Other advances Prepaid expenses Accounts receivable Recoverable taxes Inventory Deferred taxes Taxes, charges and contributions Trade payables Provisions and payroll charges Accounts payable CCC subsidies receivable Debts/credits with related parties

3,049 (954 ) (67,151 ) 76,560 (67,573 ) (5,058 ) 20,057 (1,450 ) (47,792 ) (6,728 ) (2,387 ) (99,427 )

3,076 2,613 75,190 (23,907 45,756 (5,213 ) (79,383 ) (3,051 ) 2,887 4,096 22,064 254,105 14,485 (185,804 ) 82,786 191,846

6,125 1,659 8,039 52,653 (21,817 ) (10,271 ) (59,326 ) (4,501 ) (44,905 ) (6,728 ) 1,709 (77,363 )

Others Other changes in investments Other assets and liabilities Cash effect of spin-off

(254,105 ) (18,184 ) 227,175 (45,114 )

(3,699 ) 41,371 37,672 (178,627 )

Net cash (used in) provided by operating activities

(370,474 )

11 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Consolidated September 30, 2012 Originally reported Cash flows from investment activities Acquisition of PPE and intangible assets Write-off of PPE and intangible assets Securities Change in Investments Cash resulting from sale of property, plant and equipment and intangible assets AFAC at associated companies and joint ventures Debt to related parties Dividends Contractual retentions Secured deposits Net cash provided by investing activities Cash flows from financing activities Financial instruments Capital Increase Loans obtained Capital increase (decrease) deriving from minority interests Issuance (payment) of debentures Net cash provided by financing activities Exchange variance on cash and cash equivalents Increase (decrease) in cash and cash equivalents Opening balance of cash and cash equivalents Closing balance of cash and cash equivalents (457,630 ) 1,442,415 984,785 (33,604 ) (62,264 ) (95,868 (491,234 ) 1,380,151 888,917 (1,456,958 ) (8,802 ) (11,500 ) Adjustments 299,442 (377,498 ) (441 ) (2,100 ) (50,868 ) 1 (7,440 ) (5,106 ) (144,010 ) 48,995 (1 ) (128,242 ) (2,191 ) 2 (81,443 ) Restated (1,157,516 (8,802 ) (388,998 ) (441 ) (2,100 ) (51,049 ) (2,269 ) (4,992 ) (47,672 ) (1,663,839 ) 18,464 1,689,704 1,203,547 (1,093 ) (1,559,383 ) 1,351,239

(181 ) (2,270 ) 2,448 (42,566 ) (1,519,829 ) (30,531 ) 1,689,704 1,331,789 1,093 (1,559,383 ) 1,432,672

12 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Statement of added value


Consolidated September 30, 2012 Originally reported Revenue Sales of goods, products and services Revenue relating to construction of company assets 274,685 727,428 1,002,113 Consumables acquired from third parties (including ICMS and IPI) Material, electricity, outsourced services and others (377,033 ) (377,033 ) Gross added value Depreciation, amortization and depletion Net added value produced Transferred added value Equity in income of subsidiaries Financial income Others Derivative financial instruments Provision for investment devaluation Provision for unsecured liabilities Losses on the sale of assets Total added value to be distributed Distribution of added value Personnel Direct remuneration Benefits FGTS and contributions Others Taxes, charges and contributions Federal State Interest expenses Interest Rent Others Losses on derivative transactions Advances to suppliers Insurance Exchange variance Financial expenses Others Interest earnings Retained earnings/(loss) for the period Minority interests in retained earnings 625,080 (7,764 ) 617,316 (10,875 ) (21,256 ) 134,647 (124,265 ) (124,265 ) Adjustments (245,999 ) 423,264 177,265 285,733 285,733 462,998 1,069 464,067 (370,969 ) (57,872 ) (428,746 ) 115,649 124,265 2 (8,618 ) 93,100 93,100 (15,751 ) (11,140 ) (2,177 ) (2,434 ) 13,705 13,705 95,146 (27,296 ) (3,040 ) 125,482 (304,470 ) 424,252 (1,130 ) (22,295 ) 29,319 (194 ) Restated 28,686 1,150,692 1,179,378 (91,300 ) (91,300 ) 1,088,078 (6,695 ) 1,081,383 (381,843 ) (79,128 ) (294,099 ) (8,616 ) 2 (8,618 ) 699,540 699,540 77,600 57,028 8,441 12,131 (26,054 ) (26,054 ) 946,272 130,692 10,711 804,869 (399,572 ) 1,150,682 755 (12,113 ) 66,073 (956 ) (298,278 ) (299,371 ) 1,093

606,440 606,440 93,351 68,168 10,618 14,565 (39,759 ) (39,759 ) 851,126 157,988 13,751 679,387 (95,102 ) 726,430 1,885 10,182 36,754 (762 ) (298,278 ) (299,371 ) 1,093

13 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Consolidated quarterly information The consolidated quarterly information was prepared in conformity with CPC 21(R1) e o IAS 34, applicable to the Quarterly Information - ITR, and includes the quarterly information of the parent company, the companies the Company has the (direct or indirect) control of, joint ventures and Exclusive Funds, as shown below:
Parent company interest - % September 30, 2013 Direct subsidiaries MPX Pecm II Gerao de Energia S.A. UTE Porto do Itaqui Gerao de Energia S.A. Amapari Energia S.A. Seival Sul Minerao Ltda. Termopantanal Participaes Ltda. UTE Parnaba Gerao de Energia S.A. UTE Parnaba II Gerao de Energia S.A. UTE Parnaba V Gerao de Energia S.A. Parnaba Gerao e Comercializao de Energia S.A. MPX Investimentos S.A. MPX Desenvolvimento S.A. MPX Tau II Energia Solar Ltda. Exclusive funds: Fundo de Investimento em Cotas de Fundos de Investimento Multimercado Crdito Privado MPX 63 Fundo de Investimento Multimercado Crdito Privado MPX Associated companies/Joint ventures (equity income) OGX Maranho Petrleo e Gs S.A. UTE Porto do Au Energia S.A. UTE MPX Sul Energia Ltda. MPX Chile Holding Ltda. Porto do Pecm Gerao de Energia S.A. Porto do Pecm Transportadora de Minrios S.A. OGMP Transporte Areo Ltda. Pecm Operao e Manuteno de Unidades de Gerao S.A. Seival Participaes S.A. MPX E.ON Participaes S.A. UTE Porto do Au II Energia S.A. MABE Construo e Administrao de Projetos Parnaba Participaes S.A. 100.00 100.00 51.00 70.00 66.67 70.00 100.00 99.99 99.99 99.99 100.00 100.00 100.00 33.33 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 99.70 100.00 51.00 70.00 66.67 70.00 100.00 99.99 70.00 99.99 99.99 100.00 100.00 100.00 33.33 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 December 31, 2012

The accounting practices have been consistently applied to all subsidiaries, joint ventures and associated companies. Description of main consolidation procedures

Elimination of asset and liability account balances between the Company and its subsidiaries and between the latter Elimination of the balances of investments and corresponding interests in the capital and accumulated profits/(losses) of subsidiaries

14 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Minority interests, which represent the earnings for the year and equity not held by the Company, are presented separately from the consolidated statement of operations in the equity in the consolidated balance sheet, separately from the equity attributable to the controlling shareholders. Elimination of revenue and expense balances between the Company and its subsidiaries and between the latter. These balances are eliminated against the respective investments according to the parent company's interest in the subsidiaries.

Cash and cash equivalents


Parent company September 30, 2013 Cash and bank deposits Fundo de Investimento MM MPX 63 CDB/Purchase and sale agreements (a) (b) 486 301,838 302,324 December 31, 2012 260 206,003 206,263 September 30, 2013 17,268 337,978 1,306 356,552 Consolidated December 31, 2012 5,922 513,355 519,277

(a) Substantially consist of quotas in investment funds, of high liquidity, readily convertible into a known amount of cash, regardless of asset maturity, and are subject to an insignificant risk of a change in value. This is a share investment fund FI Multimercado Crdito Privado MPX 63 administrated by Banco Ita and primarily backed by Bank Deposit Certificates - CDBs and securities subject to repurchase agreements issued by first-rate financial institutions and companies, all linked to floating rates and with an average yield of 100.9% (mark to market) and 101.2% (nominal rate on the curve) of the DI CETIP rate (Interbank Deposit Certificate - CDI). The debentures represent purchase and sale commitments, registered at CETIP or SELIC, when applicable, and with guarantee of repurchase at a previously established rate from the financial institutions. As required by CVM Instruction 408/05, the consolidated quarterly information includes the balances and transactions of the exclusive investment funds, whose only shareholders are the Company and its subsidiaries, as shown below:
Parent company September 30, 2013 Consolidated Multi-Market Fund Eneva S.A. Amapari Energia S.A. Seival Sul Minerao Ltda. UTE Parnaba Gerao de Energia S.A. UTE Parnaba II Gerao de Energia S.A. 301,838 December 31, 2012 206,003 September 30, 2013 301,838 3,219 481 32,439 1 337,978 Consolidated December 31, 2012 206,003 10,482 516 83,017 213,337 513,355

301,838

206,003

15 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(b) Amounts invested in CDBs issued by first-rate financial institutions. The companies that hold these amounts are the subsidiaries MPX Pecm II Gerao de Energia S.A. and UTE Porto do Itaqui Gerao de Energia S.A. The exclusive funds are regularly reviewed/audited by independent auditors and are subject to

constraints on the payment of services rendered by the asset manager, attributed to operating investments, such as custody and audit fees and other expenses. There are no material financial obligations or company assets to guarantee these obligations.
7 Securities
Parent company September 30, 2013 LFT - Financial Treasury Bills December 31, 2012 Consolidated September December 30, 2013 31, 2012 3,441

The securities include operations related to the acquisition of federal government bonds (LFTs) maturing after 90 days and recorded in current assets due to the fact they are expected to be realized in the short term. 8 Secured deposits
Parent company September 30, 2013 BNDES - Porto do Pecm BNDES - UTE Porto do Itaqui BNDES - Pecm II Eneva S.A BNDES - UTE Parnaba Others (a) (b) (c) (d) (e) 37 December 31, 2012 35 102,649 Consolidated September December 30, 2013 31, 2012 37 63,485 63,324 25,398 252 37 Current Non-current 37 102,684 35 102,649 152,495 37 152,459 35 10,671 22,145 102,649 183 135,683 35 135,648

(a) Deposit linked to the obligations undertaken in the financing agreement between BNDES and the joint subsidiary Porto de Pecm Gerao de Energia S.A. referring to the portion of the intervening party Eneva S.A to maintain the own capital/debt ratio preestablished in the agreement. Relates to the part of Eneva S.A. in Fundo Bradesco Corporate FIC FI Referenciado DI Federal.

16 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(b) Refers to the debt service reserve accounts linked to the financing agreement between the subsidiary UTE Porto do Itaqui Gerao de Energia S.A , BNB-Banco do Nordeste do Brasil S.A. and BNDES (c) Refers to the debt service reserve accounts linked to the financing agreement between BNDES and the subsidiary UTE Parnaba Gerao de Energia S.A. (d) Financial Bills issued by Banco Citibank S.A., yielding the CDI rate, ceded as collateral for the loans taken out by Eneva S.A. from the financial institution. (e) Refers to the debt service reserve accounts linked to the financing agreement between BNDES and the subsidiary UTE Parnaba Gerao de Energia S.A. 9 Accounts receivable Consolidated September 30, 2013 Amapari Energia S.A. Porto do Itaqui Gerao de Energia S.A. UTE Parnaba Gerao de Energia S.A. MPX Pecm II Gerao de Energia S.A. (a) (b) (b) (b) 52.391 62.804 142.522 21.444 279.161 Current Non-current 254.544 24.617 December 31, 2012 51.287 12.236

63.523 38.906 24.617

(a) The accounts receivable is for energy sold to Anglo Ferrous Amap Ltda. of R$ 9,050 (R$ 9,109 as of December 31, 2012).
Based on the amendments resulting from Normative Resolution 427/2011, from April 2011 Company management decided to change the means of calculating the component of the fuel tariff in billing, no longer using the TEH reducer (Hydraulic Equivalent Tariff) as a reference, and starting to use the product of the difference between the unit price of diesel oil invoiced by BR Distribuidora and the ANP's price list, based on the price of diesel delivered by the distributor to the gas station. The Company uses the Macap gas stations as a reference, for the specific consumption, and ratio of fuel consumed over energy generation in MWh. On May 19, 2009 Amapari Energia S.A. obtained a court order obliging ANEEL to qualify UTE Serra do Navio for reimbursement of part of its costs incurred on fuels used as consumables in the generation and sale of electricity through the Fuel Consumption Account - CCC.

17 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Following the publication of Normative Resolution 427 by ANEEL, which regulates Law 12111 of 2009 and Decree 7246 of 2010, which established the new procedures for planning, forming, processing and managing the Fuel Consumption Account - CCC, from February 22, 2011 a number of items were affected, impacting the calculation of energy billing, such as the calculation of the TEH, the reducer applied to calculate the subsidy and definition of the ANP survey price list, as a limit for the unit value of the fuel reimbursed, still used to calculate the CCC. The Company's non-current assets include the portion of the CCC reimbursement for the period November 2008 to May 2009 of R$ 24,617 thousand. If this amount is not reimbursed via the CCC mechanism, the Company will begin the collection proceedings against the counterparty to the respective energy supply agreement. This is because, under said agreement in the event of an economic/financial inbalance for reasons not attributable to the Company, it will no longer receive the aforesaid CCC subsidy, or the difference in the unit prices value between the amount billed by BR Distribuidora and the ANP reference table for reasons beyond its control, the parties shall adjust the contractual terms to restore the economic and financial equilibrium of the agreement. This right has not yet been exercised against Anglo Ferrous Amap Ltda by Amapari, as the Company opted to file judicial measures against ANEEL to receive this amount. However, Management does not expect to realize any losses on the receivable balance. The outstanding balance of the CCC subsidy receivable as of September 30, 2013 is R$ 43,341, with R$ 18,724 current and R$ 24,617 non-current (R$ 42,178 as of December 31, 2012, with R$ 17,561 current and R$ 24,617 non-current). (b) The balance denotes the accounts receivable of the subsidiaries Porto do Itaqui Gerao de Energia S.A under the electricity purchase contract in a regulated environment (CCEAR), signed with ANEEL, of R$ 62,804 (R$ 12,235 as of December 31, 2012) and UTE Parnaba Gerao de Energia S.A. of R$ 142,522 and MPX Pecm II Gerao de Energia S.A. of R$ 21,444, also under the CCEAR with ANEEL. 10 Inventories Consolidated September 30, 2013 Diesel oil/lubricant Coal Electronic and mechanical parts (a) (b) (c) 16,306 65,159 11,865 93,330 December 31, 2012 13,967 128,720 142,687

(a) The balance consists of the reservoirs of diesel oil and lubricating oil used as consumables in electricity generation by the subsidiaries Amapari Energia S.A.(R$ 9,177), MPX Pecm II Gerao de Energia S.A. (R$ 1,411) and UTE Porto do Itaqui Gerao de Energia S.A. (R$ 5,718). The subsidiary Amapari Energia S.A. has a contractual acquisition obligation ("take or pay") with BR Distribuidora S.A., to require a minimum 3,600 m of diesel oil a month, for a fixed price or to pay for this even if it is not taken. If the

18 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

obligation is exercised, this results in the acquisition of the diesel oil used as a consumable by the Company. The Company recorded a provision under trade payables for the difference between the amount required and the minimum mandatory amount under the contract, charged to inventory. The balance for this provision at September 30, 2013 is R$ 7,727 (R$ 7,251 as at December 31, 2012). This provision is restated semi-annually as specified in the diesel oil supply contract. (b) The balance consists of the inventory of coal used as consumables in electricity generation by the subsidiaries Porto do Itaqui Gerao de Energia S.A. (R$ 36,554) and MPX Pecm II Gerao de Energia S.A. (R$ 28,605). The coal was acquired for the commissioning phase of the operation, and to establish a security inventory at the plant, with a view to the commercial operations. Note that Porto do Itaqui initiated its commercial operations, consuming coal inventories. (c) The balance consists of electronic and mechanical parts for use and replacement in the maintenance operations carried out by the subsidiaries: Amapari Energia S.A. (R$ 1,237), Porto do Itaqui Gerao de Energia S.A. (R$ 5,024), MPX Pecm II Gerao de Energia S.A. (R$ 3,187) and UTE Parnaba Gerao de Energia S.A. (R$ 2,417). 11 Recoverable and deferred taxes The balance of recoverable taxes is as follows:
Parent company September 30, 2013 Income tax withheld at source (b) Prepaid income tax Prepaid social contributions Prepaid social contributions - prior year (a) Income tax withheld at source - prior year (b) Income tax withheld at source - loan (b) ICMS PIS COFINS Others 2,441 441 12,909 11,316 December 31, 2012 11,391 441 15,301 3,689 September 30, 2013 10,866 68 183 443 13,675 11,316 2,389 1,417 6,526 5,769 52,652 36,505 16,147 Consolidated December 31, 2012 23,539 1 1 443 16,835 3,689 2,306 2,390 11,002 1,238 61,444 37,410 24,034

2,573 29,680

844 31,666 22,068 9,598

Current Non-current

23,400 6,280

(a) Refers to income and social contribution taxes prepaid in the course of the year and previous years. which will be offset against the income and social contribution taxes determined on the taxable income. (b) The balance of income tax withheld at source refers to amounts withheld on interest-earning bank deposits and related-party loans. These balances will be offset against the income and social contribution taxes payable.

19 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Deferred taxes Deferred income and social contribution taxes reflect future tax effects attributable to temporary differences between the tax bases of assets and liabilities and their carrying values. Based on its expectations of generating future taxable income, determined by a technical valuation approved by Management, the Company and its subsidiaries recognized tax credits on income tax loss carryforwards and the negative bases of social contribution tax. There is no statute of limitation period and they can be offset against a maximum of 30% of annual taxable income. The carrying value of the deferred tax asset is reviewed periodically and the projections are reviewed annually. If there are significant factors that change the projections, they are also reviewed by the Company during the year. The Company and its subsidiaries adopted the Transitional Taxation Scheme (RTT) so that the amendments introduced by Law 11638 of December 28, 2007 and articles 37 and 38 of Law 11941 of 2009, which changed the procedure for recognizing revenue, costs and expenses used to calculate the net income for the year defined in Art. 191 of Law 6404 of December 15, 1976, do not affect the calculation of the taxable income and social contribution calculation base of companies that opt for the Transitional Taxation Scheme - RTT. For tax purposes the accounting methods and criteria in force at December 31, 2007 should be used. The origin of the deferred income and social contribution taxes is presented below:
Parent company September 30, 2013 Non-current deferred charges Tax loss carryforwards and negative tax base Temporary differences - RTT Write-off of deferred charges - spin-off effect Fair value - derivatives 161,039 (25,395 ) (21,244 ) 114,400 Non-current deferred liabilities Temporary differences - RTT December 31, 2012 161,039 (25,395 ) (21,244 ) 114,400 September 30, 2013 444,759 (25,395 ) (21,244 ) 398,120 5,404 5,404 Consolidated December 31, 2012 346,699 5,488 (25,395 ) (21,244 ) 305,548 2,048 2,048

20 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

As of September 30, 2013 the taxes calculated on the adjusted net income consisted of IRPJ (rate of 15% and surcharge of 10%) and CSLL (rate of 9%). The reconciliation between the tax expense as calculated by the combined statutory rates and the income and social contribution tax expense charged to net income is presented below:
September 30, 2013 Parent company Loss for the period before IRPJ/CSLL Statutory rate - % IRPJ/CSLL at the nominal rate Adjustments to determine effective rate Temporary differences RTT Adjustment - Deferred income tax Income tax and social contribution expense, current Deferred income and social contribution taxes Total effect of tax on net income Effective rate - % Deferred tax asset not recognized 0.0 (662,182 ) 34 225,142 Consolidated (750,010 ) 34 255,003 (134,269 ) (33,980 ) (5,817 ) 92,573 86,756 11.57

September 30, 2013 Parent company Loss for the period before IRPJ/CSLL Statutory rate - % IRPJ/CSLL at the nominal rate Adjustments to determine effective rate: Permanent differences RTT Adjustment - Deferred income tax Income tax and social contribution expense, current Deferred income and social contribution taxes Total effect of tax on net income Effective rate - % Deferred tax asset not recognized 11,585 11,585 3.73 (310,956 ) 34 105,725 (94,140 ) Consolidated (325,131 ) 34 110,545 (82,500 ) (1,192 ) (1,282 ) 28,135 26,853 12.06

21 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

These figures are presented net of the balance of deferred tax assets and liabilities. The Company and its subsidiaries expect to recover deferred tax in a period of approximately 8 (eight) years. 12 (a) Investments Breakdown of balances
Parent company September 30, 2013 Equity interests Premium on share subscription (*) Future acquisition of investment 2,487,585 62,000 95 2,549,680 December 31, 2012 2,153,012 62,000 95 2,215,107 September 30, 2013 871,448 62,000 95 933,543 Consolidated December 31, 2012 771,860 62,000 95 833,955

(*) Premium paid as goodwill under the subscription of new shares.

(b)

Equity interests The consolidated quarterly information includes the quarterly information of the parent company and the companies the Company has the control of and Exclusive Funds. The balances of the main consolidated account groups as of September 30, 2013 and December 31, 2012 are:
September 30, 2013 Equity interest in % 50.00 100.00 100.00 51.00 50.00 70.00 50.00 50.00 66.67 70.00 50.00 50.00 50.00 50.00 100.00 50.00 50.00 50.00 99.99 99.99 99.99 100.00 50.00 Current assets 127,275 70,154 133,972 41,974 28 520 20 197,507 662 1,117 1,483 37 5,228 99,051 132 71,453 (1 ) 1 9 7 149,990 Non-current assets 1,932,102 2,038,405 2,902,819 95,379 29,086 4,679 7,002 1,147,762 33 67 26,308 951,782 98,821 2,389 159,576 303 43 36,038 Current liabilities 276,011 167,456 442,302 30,241 3,956 33 463 254,839 359 755 1,217 1,156 816,657 59,903 189 99,896 500 84 185,971 Non-current liabilities 1,200,247 1,349,536 1,612,793 Shareholders' equity 711,747 632,165 1,196,338 103,268 26,899 5,781 6,789 291,472 338 223 369 19,783 144,754 142,041 2,333 130,295 1 2 12 146 40,692

Equity interests Porto do Pecm Gerao de Energia S.A. MPX Pecm II Gerao de Energia S.A. UTE Porto do Itaqui Gerao de Energia S.A. Amapari Energia S.A. UTE Porto do A Gerao de Energia S.A. Seival Sul Minerao Ltda. MPX Sul Energia Ltda. MPX Chile Holding Ltda. Termopantanal Participaes Ltda. UTE Parnaba Gerao de Energia Ltda. Porto do Pecm Transportadora de Minrios S.A. OGMP Transporte Arieo Ltda. PO&M - Pecm Operao e Manuteno de Gerao Eltrica S.A. Seival Participaes S.A. UTE Parnaba II Gerao de Energia S.A. MPX E.ON Participaes S.A. UTE Porto do A II Gerao de Energia S.A. Parnaba Participaes S.A. UTE Parnaba V Gerao de Energia S.A MPX Investimentos S.A. MPX Desenvolvimento S.A. MPX Tau II Energia Solar Ltda. MABE Construo e Administrao de Projetos Ltda.

Net income (128,627 ) (40,598 ) 214,643 3,844 (1,741 ) (616 ) (229 ) (9,242 ) (2 ) 207 (103 ) (182 ) (6,711 ) (17,846 ) 280 (2 ) (1 ) (200 ) (180 ) (40,635 )

808,200

5,589 2,310 13,774 559

22 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

December 31, 2012 Equity interest in % 50.00 99.70 100.00 51.00 50.00 70.00 50.00 50.00 66.67 70.00 50.00 50.00 50.00 50.00 100.00 50.00 50.00 50.00 100.00 70.00 100.00 100.00 100.00 Current assets 442,065 46,335 136,865 47,197 420 558 251 6,117 10 85,228 1,017 668 2,984 117 217,134 227,579 101 15,717 1 1 1 363 1 Non-current assets 3,716,461 1,709,494 2,633,492 98,923 57,712 4,482 13,157 19,030 400 1,084,889 81 13,038 49,896 495,887 114,926 4,176 29,213 Current liabilities 471,408 94,118 246,786 42,449 3,632 24 211 27,484 (4 ) 162,380 421 61 91 105 627,767 123,373 11 1,681 Non-current liabilities 2,464,001 1,045,646 1,746,493 Shareholders' equity 1,223,117 616,065 777,078 103,671 54,500 5,016 13,197 (33,138 ) (2,311 ) 330,144 677 13,645 738 38,730 85,254 197,117 4,266 43,249 1 1 1 (308 ) 1

Equity interests Porto do Pecm Gerao de Energia S.A. MPX Pecm II Gerao de Energia S.A. UTE Porto do Itaqui Gerao de Energia S.A. Amapari Energia S.A. UTE Porto do Au Energia S.A. Seival Sul Minerao Ltda. UTE MPX Sul Energia Ltda. MPX Chile Holding Ltda. Termopantanal Participaes Ltda. UTE Parnaba Gerao de Energia S.A. Porto do Pecm Transportadora de Minrios S.A. OGMP Transporte Areo Ltda. PO&M - Pecm Operao e Manuteno de Gerao Eltrica S.A. Seival Participaes S.A. UTE Parnaba II Gerao de Energia S.A. MPX E.ON Participaes S.A. UTE Porto do A II Energia S.A. Parnaba Participaes S.A. UTE Parnaba V Gerao de Energia S.A. Parnaba Gerao e Comerc. de Energia S.A. MPX Investimentos S.A. MPX Desenvolvimentos S.A. MPX Tau II Energia Solar Ltda.

Net income (206,999 ) (22,753 ) (41,236 ) 9,018 (1,825 ) (675 ) (873 ) (24,732 ) (11,314 ) (376 ) (5,209 ) (272 ) (66 ) (746 ) (30,389 ) (368 )

30,801 2,725 677,593

2,155 11,178 22,015

151

214

608

(309 )

The balance of investments breaks down as follows:


Parent company September 30, 2013 Equity interests Porto do Pecm Gerao de Energia S.A. MPX Pecm II Gerao de Energia S.A. UTE Porto do Itaqui Gerao de Energia S.A. Goodwill based on future profits Amapari Energia S.A. UTE Porto do Au Energia S.A. Seival Sul Minerao Ltda. UTE MPX Sul Energia Ltda. MPX Chile Holding Ltda. Termopantanal Participaes Ltda. Porto do Pecm Transportadora de Minrios S.A. OGX Maranho UTE Parnaba Gerao de Energia S.A. OGMP Transporte Areo Ltda. (c.) PO&M- Pecm Operao e Manuteno de Gerao Eltrica S.A. Seival Participaes S.A. UTE Parnaba II Gerao de Energia S.A. MPX E.ON Participaes S.A. UTE Porto do Au II Energia S.A. UTE Parnaba V Gerao de Energia S.A. Parnaba Gerao e Comercializao de Energia S.A. MPX Investimentos S.A. MPX Desenvolvimentos S.A. Parnaba Participaes S.A. MPX Tau II Energia Solar Ltda. Premium on share subscription MABE Construo e Administrao de Projetos Future acquisition of investment 583,248 540,567 783,094 15,470 54,627 25,108 3,616 6,558 336 51,631 132,462 280 266 19,551 78,543 93,204 2,333 (1 ) (b) 1 (a) 96,635 62,000 57 95 2,549,680 6,917 62,000 95 2,215,107 96,635 62,000 57 95 933,543 6,917 62,000 95 833,955 December 31, 2012 611,561 449,104 536,077 15,470 52,872 27,251 3,511 6,597 338 31,861 231,101 6,823 369 19,365 85,254 66,406 2,133 1 September 30, 2013 583,123 Consolidated December 31, 2012 611,433

(d)

17,793 6,239 336 51,631 280 266 19,551 93,204 2,333

19,936 6,280 338 31,861 6,823 369 19,364 66,406 2,133

(a) (a)

23 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(a) As of September 30, 2013 the balance of the investment with the joint ventures and the subsidiaries MPX Chile Holding Ltda., MPX Desenvolvimento S.A. and Termopantanal Participaes Ltda. was classified under unsecured liabilities in the non-current liabilities, due to the fact these companies had negative equity. (b) On August 14, 2013 the Extraordinary General Meeting approved the split-off of UTE Parnaba Gerao de Energia S.A. with the net assets being transferred to UTE Parnaba III Gerao de Energia S.A.. The split-off is a necessary step in the implementation of the venture and commercial start-up of UTE Parnaba III, via the transfer of the 5th generator turbine, with a total capacity of 176.2 MW. (c) The shareholders Eneva Energia S.A. and OGX Petrleo e Gs Participaes S.A. approved the capital decrease of the joint subsidiary OGMP Transporte Areo Ltda. on August 8, 2013.

24 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

(c)

Change in investment
September 30, 2013 Balance at December 31, 2012 611,561 449,104 536,077 15,470 52,872 27,251 3,511 6,597 338 31,861 231,101 6,823 369 19,365 2,133 66,406 62,000 6,917 1 1 85,254 95 2,215,107 749,348 Capital subscription 91,000 131,100 461,660 4,850 536 190 15,825 250 368 200 43,355 14 Equity income (128,627 ) (40,598 ) (214,643 ) 1,755 (6,992 ) (431 ) (229 ) (2 ) 3,945 (6,469 ) 207 (103 ) (182 ) (19,488 ) 278 (2 ) 43 (1 ) (6,711 ) (418,250 ) 961 (7,000 ) 200 9,314 200 46,085 46,085 Gain on increase in interest 961 Capital reduction Exchange Variance Equity Appraisal Adjustment 9,314 Balance at September 30, 2013 583,248 540,567 783,094 15,470 54,627 25,108 3,616 6,558 336 51,631 132,462 280 266 19,551 2,333 93,204 62,000 96,635 (1 ) 57 78,543 95 2,549,680

Direct subsidiaries Porto do Pecm Gerao de Energia S.A. MPX Pecm II Gerao de Energia S.A. UTE Porto do Itaqui Gerao de Energia S.A. Goodwill based on future profits Amapari Energia S.A. UTE Porto do Au Energia S.A. Seival Sul Minerao Ltda. UTE MPX Sul Energia Ltda. Porto do Pecm Transportadora de Minrios S.A. OGX Maranho Petrleo e Gs Ltda. UTE Parnaba Gerao de Energia S.A. OGMP Transporte Aereo Pecm Operao e Manuteno de Unidades de Gerao Eltrica S.A. - PO&M Seival Participaes S.A. UTE Porto do Au II Energia S.A. MPX E.ON Participaes S.A. Subscription Premium Parnaba Participaes S.A. UTE Parnaba V Gerao de Energia S.A. MABE do Brasil MPX Investimentos S.A. UTE Parnaba II Gerao de Energia S.A. Future acquisition of investment

Spin-off

(92,170 ) (7,000 )

25 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

13 (a)

Property, plant and equipment Composition of balances Consolidated


Property, plant and equipment Buildings, civil works and improvements 4

Land Depreciation rate % p.a. Cost Balance at Balance at Additions Write-offs Transfers Balance at Depreciation Balance at Balance at Additions Write-offs Transfers Balance at Carrying amount Balance at Balance at December 31, 2012 September 30, 2013 3,113 7,844 December 31, 2012 December 31, 2012 December 31, 2012 December 31, 2012 3,113 3,113

Machinery equipment 7

IT equipment 17

Vehicles 20

Furniture and fixtures 10

Gas pipeline

Provision for impairment

Cost of disassembly

PP&E in progress

Spin-off

Total

18,472 18,472 11,53 1,991,122 2,021,124

75,847 75,847 31,946 1,241 1,560,986 1,667,537

3,902 3,902 461 3 35 4,395

1,294 1,294 407 120 0 1,581

6,269 6,269 1,682 54 348 8,245

12,169 12,169

12,169 12,169

2,116 2,116 104

5,479,921 5,479,921 1,077,385 (3,556,508 )

5,590,934 5,590,934 999,397 1,418 713 6,589,626

124,118

4,731 September 30, 2013 7,844

12,169

12,169

2,22

3,000,798

124,118

1,495 1,495 42,215

15,644 15,644 42,588

1,46 1,46 317

435 435 222 93

1,501 1,501 547 6

20,535 20,535 85,889 99

September 30, 2013

43,71

58,232

1,777

564

2,042

106,325

16,977 1,977,414

60,203 1,609,305

2,442 2,618

859 1,017

4,768 6,203

12,169 12,169

12,169 12,169

2,116 2,22

5,479,921 3,000,798 124,118

5,570,399 6,483,301

26 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

Machinery and equipment Basically relates to the UTEs Amapari Energia S.A., Itaqui and Parnaba , which came into operation in November 2008, February 2013 and March 2013 respectively. Asset depreciation is based on the concession term and calculated by the straight line method at the rates determined by Normative Resolution 474 issued February 7, 2012 by the National Electric Energy Agency - ANEEL. For the estimated portion of the investments made and not amortized or depreciated by the end of the concession, a new depreciation or amortization rate is calculated and recorded in income monthly, so that a value equal to zero is obtained at the end of the concession. Buildings, civil works and improvements This basically refers to the UTEs Itaqui and Parnaba, which came into operation in February 2013 and March 2013, respectively. Depreciation follows the same procedure and criteria described in the item Machinery and equipment. Land On June 30, 2010 UTE Parnaba Gerao de Energia S.A. acquired land to build the venture for R$ 3,113, which it recorded under "Plots of land". Following the operational start-up of the Porto do Itaqui plant, we transferred R$ 4,731 from property, plant and equipment in progress to property, plant and equipment in service. The amounts are recorded in accordance with Technical Pronouncement CPC 27 - Property, Plant and Equipment. Property, plant and equipment in progress The expenses incurred on advances made for reserves and equipment acquisitions to build the thermal power plants of the companies MPX Pecm II Gerao de Energia S.A., UTE Porto do Itaqui Gerao de Energia S.A. and UTEs Parnaba I and II are transferred to the respective accounts of property, plant and equipment in service, following the approval of the declaration of commercial operation (DCO). Said subsidiaries, MPX Pecm II Gerao de Energia S.A., UTE Porto do Itaqui Gerao de Energia S.A, and MABE Construo e Administrao de Projetos Ltda. signed EPC agreements ("Engineering, Procurement and Construction") in the form of lump sum turn key projects to build the power stations. As established in the respective agreements, 15% of each advance made should be withheld as a guarantee for delivery of the power station, to be disbursed during the course of 2013, if MABE presents bank guarantees. It should be noted that it is not known when this withheld portion of the advance will be applied in the construction of the plant. As of September 30, 2013 the total guarantees retained by said subsidiaries amount to R$ 52,640 (R$ 77,374 as of December 31, 2012) and have been recorded under the respective subsidiary's current liabilities and presented in the consolidated quarterly information under "Contractual retentions". UTEs Parnaba I and II signed with Duro Felguera do Brasil Desenvolvimento de Projetos Ltda. and Initec do Brasil Engenharia e Construes Ltda. respectively EPC agreements (Engineering, Procurement and Construction) in the form of lump sum turn key projects to build the power stations. The labor costs of workers directly allocated to the construction of the plants MPX Pecm II Gerao de Energia S.A. and UTE Parnaba II, which amounts to R$ 37,906 at September 30, 2013 (R$ 29,019 at December 31, 2012), is being capitalized.

27 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

14 (a)

Intangible assets Breakdown of balances Consolidated


Intangible assets in service Computer programs and licenses Amortization rate % p.a. Cost Balance at December 31,2012 Additions Write-offs Transfers Balance at September 30, 2013 Amortization Balance at December 31, 2012 Additions Write-offs Transfers Balance at September 30, 2013 Carrying Amount Balance at December 31, 2012 Balance at September 30, 2013 3,250 11,721 15,470 15,470 183,448 183,448 11,031 2,797 2,037 1,834 215,236 215,270 (1,965 ) (2,861 ) (1,965 ) (2,861 ) 5,215 4,758 6,574 16,547 15,470 183,448 15,470 183,448 11,031 (1,502 ) (6,732 ) 2,797 2,037 351 (554 ) 1,834 217,201 3,608 (713 ) 220,096 20 Coal mining rights Mining rights option Goodwill on acquisition of investments Concessions and CCEARs Intangible assets in progress

Mining studies

Usage rights

Total

(4,826 )

(4,826 )

28 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

(b)

Concessions and CCEARs UTE Parnaba Gerao de Energia S.A. Following ANEEL approval, in September 2011 Eneva S.A entered into a 15-year concession acquisition agreement with Grupo Bertin Energia e Participaes S.A. to acquire the concessions awarded by ANEEL for the thermal power plants (UTEs) MC2 Joo Neiva and MC2 Joinville (subsidiaries of Bertin Energia e Participaes S.A), to be set up as independent energy producers. This document also determines the assignment of the energy sale agreements (CCEARs) of the UTEs to Eneva S.A. The MC2 Joo Neiva and MC2 Joinville UTEs were procured at the A-5 03/2008- ANEEL auction held on September 30, 2008, which ratified the supply of an average 225 MW to each distribution company, with an authorization term of 35 years. The transaction's closure document ("closure") dated September 02, 2011 assigns two additional assignment payment clauses, conditional on: (i) ANEEL authorization, without encumbrance or restrictions, to increase the physical energy guarantee by up to an average 72.7 MW for each venture. If Eneva S.A. obtains permission, it will owe an amount to the UTEs in proportion to the increase in the physical guarantee up to a maximum of R$ 83 million, with 50% going to each of them as an additional assignment price and (ii) When ANEEL has awarded permission, with no cost or restrictions, to change the "i" factor and the "Other Variable Costs" (defined in article 3 (II) of MME Ordinance 42 issued 3/1/2007) of the Ventures, Eneva S.A. shall pay each of the UTEs in the same proportion the value of the taxes declared and recognized in the UTEs' financial statements as due. This amount is limited to R$ 61.2 million or the value of the benefit obtained by Eneva S.A. as a result of changing the "i" factor and the "Other Variable Costs" of the Ventures. Eneva S.A. and its subsidiary UTE Parnaba Gerao de Energia S.A. ("UTE Parnaba") signed a rights and obligations assignment agreement for the concessions acquired from Grupo Bertin Energia e Participaes S.A. This agreement involves the free assignment to UTE Parnaba of all the rights and obligations deriving from the concessions purchase agreement. This rights and obligations assignment between Eneva S.A. and UTE Parnaba is also subject to two covenants, as follows: (i) ANEEL permission to implement the (UTEs MC2 Joo Neiva and MC2 Joinville) ventures in the Termeltrico Parnaba complex and (ii) changing the "i" factor and the "Other Variable Costs", as mentioned above. The Company did not classify this transaction as a business combination, but rather an acquisition of assets as it is acquiring intangible assets that are awarded under concession and the sale contracts. This acquisition consolidates the implementation of the Termeltrico Parnaba complex, with an initial installed capacity of 1.5 GW and running on natural gas.

29 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Goodwill on acquisition of investments On October 14, 2008 Eneva S.A. acquired the entire capital of UTE Porto do Itaqui Gerao de Energia S.A. from EDP Energias do Brasil S.A. in an acquisition that involved the swap of a 50% interest in Porto do Pecm Gerao de Energia S.A. for said capital. This transaction generated goodwill for Eneva S.A. of R$ 15,470, which is being presented under investments in the parent company's investment quarterly information and under intangible assets in the consolidated quarterly information. This goodwill is based on the expectation of future profitability and is not undergoing amortization. 15 Related-party transactions The main balances of assets and liabilities at September 30, 2013 and December 31, 2012 refer to related-party transactions, as well as the transactions that influenced the income for the period, relate to transactions between the Company and its direct and indirect subsidiaries, affiliates and key management personnel, which were conducted at arm's length. (a) Controlling Shareholder The Company's control is jointly exercised by Mr. Eike Fuhrken Batista and DD Brazil Holdings S..R.L (fully controlled by E.ON AG), which respectively hold 23.9% and 37.9% of the common shares. (b) Executives The Company is managed by a Board of Directors and an Executive Board, pursuant to the duties and powers vested by its Bylaws in accordance with corporate law. (c) Related companies The Company's main affiliated companies are: E.ON AG OGX Petrleo e Gs Participaes S.A., LLX Logstica S.A., MMX Minerao e Metlicos S.A., OSX Brasil S.A., OMX Operaes Martimas Ltda., CCX Brasil Participaes S.A., MMX Chile S.A., LLX A Operaes Porturias S.A. and AVX Txi Areo Ltda, in addition to its subsidiaries and associated companies.

30 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

As of September 30, 2013, the balances of assets, liabilities and effects on income of related-party transactions are as follows:
Assets Parent Company September 30, 2013 MPX Pecm II Gerao de Energia S.A. (c) Termopantanal Ltda. (a) Termopantanal Ltda. (a) Termopantanal Participaes Ltda. (a) MPX Comercializadora de Energia S.A. (e) UTE Parnaba Gerao de Energia S.A. (f) UTE Porto do Itaqui Gerao de Energia S.A. (g) UTE MPX Sul Energia S.A. (m) UTE Porto do A Energia S.A. (m) UTE Parnaba II Gerao de Energia S.A. (j) MPX Comercializadora de Combustvel Ltda. (m) Seival Participaes S.A. (m) EBX Holding Ltda. (b) Pecm Operao e Manuteno Eltrica S.A. (j) MPX E.ON Participaes S.A. (n) Porto do Pecm Gerao de Energia S.A. (k) MPX Desenvolvimento (l) Seival Sul Minerao Ltda. (m) Parnaba Participaes S.A. (m) MPX Investimentos S.A. (m) UTE Parnaba V Gerao de Energia S.A. (m) MPX Tau II Energia Solar Ltda. Nova Venecia Advances for future capital increase for subsidiaries (h) 317,016 7,683 (7,453 ) 457 13,260 4,069 395,656 165 206 2,266 193 141 1,134 1,511 3,871 161,171 344 9 33 11 90 44 10,580 388,202 1,300,660 Current Non-current December 31, 2012 1,108 7,683 (7,453 ) 457 175 2,641 374,965 95 251 302 95 66 1,134 1,438 6,111 133,489 908 9 September 30, 2013 Consolidated December 31, 2012

13,260 165 206 193 141 1,134 1,511 3,871 161,171 33

174 95 251 95 66 1,134 1,438 6,111 133,489

419,426 942,900

10,580 365 192,630

12,425 155,278

1,300,660

942,900

192,630

155,278 Liabilities

Parent Company September 30, 2013 EBX Holding Ltda. (b) MPX Comercializadora de Energia Ltda. (e) Copelmi Minerao Ltda. (d) Porto do Pecm Gerao de Energia S.A. (k) MPX Comercializadora de Combustveis Ltda. (m) MPX E.ON Participaes S.A. (n) MPX Tau Energia Solar Ltda. Porto do Pecm Transportadora de Minrios S.A. Petra Energia S.A.(o) OGX Petroleo e Gs S.A.(p) MPX Desenvolvimento S.A. 5,610 81 December 31, 2012 2,664 1,116 September 30, 2013 6,969 1,207 20 2,003 444 75,163 73,068 146 8,138 Current Non-current 7,433 705 6,523 6,523 159,020 7,617 151,403

Consolidated December 31, 2012 3,975 23,904 14 430 136 2,376 367

2,003 444

2,376 367

31,202 30,772 430

31 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Net income Parent Company September 30, 2013 EBX Holding Ltda. (b) MPX Pecem II Gerao de Energia S.A. (c) MPX Comercializadora de Energia S.A. (e) UTE Parnaba Gerao de Energia S.A. (f) UTE Porto do Itaqui Gerao de Energia S.A. (g) MMX Minerao e Metlicos S.A. OGX Petrleo e Gs Ltda. OSX Brasil S.A. LLX Logstica S.A. UTE MPX Sul Energia S.A. (m) UTE Porto do A Energia S.A. (m) MPX Solar Empreendimentos Ltda. MPX Comercializadora de Combustvel Ltda. (m) Seival Participaes S.A. (m) Pecm Operao e Manuteno Eltrica S.A. (i) UTE Parnaba II Gerao (j) Parnaba Participaes (m) MPX E.ON Participaes S.A. (n) Porto do Pecm Gerao de Energia S.A. (k) MPX Desenvolvimento S.A.(l) UTE Parnaba III Gerao de Energia S.A. (m) UTE Parnaba V Gerao de Energia S.A. (m) MABE Construo e Administrao de Projetos Ltda. (m) MPX Investimentos S.A. (m) Copelmi Minerao Ltda. (d) Parnaba IV Gerao de Energia S.A. (m) Petra Energia S.A.(o) OGX Petroleo e Gs S.A.(p) (11,288 ) 12,117 789 1,236 23,460 September 30, 2012 (20,372 ) 864 (8,877 ) 2,153 12,013 85 364 162 140 50 310 (246 ) 327 21 50 800 32 3,022 60 September 30, 2013 (14,156 ) 1,168 (77,595 ) (479 ) 1,730 Consolidated September 30, 2012 (24,697 ) (1,233 ) (8,877 ) (340 ) 9,490 85 364 162 140 50 310 (246 ) 327 21 50 800 32 3,022 60

67 115 26 76 90 954 (65 ) 9,083 79 280 95 101 11 11

67 115 26 76 (19,231 ) (1,053 ) (65 ) 9,083 1 280 95 101 11 11 (76 ) (60,700 ) (73,068 ) (233,659 )

(55 )

37,237

(9,042 )

(20,535 )

(a)

Loan agreement executed with Eneva S.A. (lender) subject to monthly interest (101% of CDI) and with an unfixed term of maturity. Eneva S.A. has made a provision of R$ 7,453 for the devaluation of its 66.67% investment in Termopantanal Participaes Ltda. The Company and its subsidiaries have operational and financial cost sharing agreements with the companies EBX Holding S.A. and MMX Chile S.A., involving monthly collections made through trade notes paid according to understandings between the parties (average DPO of 30 to 60 days). The effect on net income at September 30, 2013 is R$ (14,156), (R$ (24,697) at September 30, 2012). Revenue from reimbursement of project implementation costs. At September 30, 2013 the effect on net income is R$ 1,168. Reimbursement of administrative costs related to the 30% interest held by Copelmi Minerao Ltda. in the share capital of Seival Sul Minerao, with an effect on net income of R$ 11. The balance consists of operational and financial cost sharing agreements with Eneva S.A., Porto do Itaqui Gerao de Energia S.A. and MPX Pecm II Gerao de Energia S.A., involving monthly collections made through trade notes paid according to understandings between the parties (average DPO of 30 to 60 days). At September 30, 2013 the effect on net income is R$ (77,595).

(b)

(c) (d) (e)

32 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(f) (g)

The balance consists of revenue from reimbursement of feasibility study costs. At September 30, 2013 the effect on net income is R$ (479). The balance consists of: (i) revenue from reimbursement of project implementation costs; at September 30, 2013 the effect on net income is R$ (546) and (ii) loan agreement executed with Eneva S.A. (lender) taken out on July 31, 2012 subject to monthly interest (104% of the CDI rate) and maturing indefinitely; the effect on net income is R$ 2,276. Balance consisting of advances for future capital increase (AFACs) of its subsidiaries from investments to non-current assets, which are irrevocable and irreversible. However, no fixed value has been defined for the number of shares in the capital increase, in contravention of CPC 38. The following AFACs are outstanding at September 30, 2013 with the following companies: Subsidiary Porto do Au Energia S.A. MPX Seival Participaes S.A. UTE Parnaba Gerao de Energia S.A. UTE Parnaba II Gerao de Energia S.A. UTE Porto do Itaqui Gerao de Energia S.A. Parnaba Participaes S.A. MPX Pecm II Gerao de Energia S.A. MPX Investimentos S.A. OGMP Transporte Areo Ltda. MPX Tau II Energia Solar Ltda. September 30, 2013 50 50 78,600 59,500 198,600 115 51,000 2 150 135 388,202 December 31, 2012

(h)

241,000 12,426 166,000

419,426

(i)

The balance consists of: (i) loan agreement executed in December 2011 with Eneva S.A. (lender) subject to monthly interest (110% of CDI) and with a fixed term of maturity on December 31, 2013. At September 30, 2013 the effect on net income is R$ 90. (ii) operational and financial cost sharing agreements with Parnaba Gerao de Energia S.A., involving monthly collections made through trade notes paid according to understandings between the parties (average DPO of 30 to 60 days). As of September 30, 2013 the effect on net income is R$ (19,321). Revenue from reimbursement of project implementation costs. At September 30, 2013 the effect on net income is R$ (1,053). Loan agreement made on September 24, 2012 with Eneva S.A. (lender) subject to monthly interest (105% of CDI) and with a term of maturity of 1 (one) day after full repayment of loan by lender. The balance at September 30, 2013 is R$ 9,083. The balance consists of: (i) revenue from reimbursement of project management costs; at September 30, 2013 the effect on net income is R$ 79 and (ii) loan agreement made on November 26, 2012 with Eneva S.A. (lender) subject to monthly interest (104% of CDI) and with a term of maturity of 1 (one) day after full repayment of loan by lender. At September 30, 2013 the effect on net income is R$ 1.

(j) (k)

(l)

33 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(m) (n) (o)

Revenue from reimbursement of project implementation costs. Revenue from reimbursement of project implementation costs. At September 30, 2013 the effect on net income is R$ (65). The balance consists of: (i) costs relating to the gas purchase agreement and leasing of the gas treatment plant's capacity, between UTE Parnaba and Petra. The effect on net income is R$ 60,700 and (ii) Advance for future capital increase of R$ 14,400 between Petra and UTE Parnaba. Costs relating to the gas purchase agreement and leasing of the gas treatment plant's capacity, between the companies. The effect on net income is R$ 73,068.

(p) (d)

Compensation of the Board of Directors and Executive Board members In accordance with Law 6404/1976 and the Company's bylaws, the shareholders shall establish the managers' overall annual remuneration at the General Meeting. The Board of Directors shall distribute the amount among the directors. The annual compensation of officers and the Board of Directors is presented below: Parent Company September 30, 2013 Immediate benefits Salaries Stock options granted 3,346 346,044 349,390 September 30, 2012 3,079 312,019 315,098 September 30, 2013 7,892 346,044 353,936 Consolidated September 30, 2012 5,751 312,019 317,770

See below the minimum, average and maximum individual annual compensation of the Board of Directors and Officers, in R$:
Consolidated September 30, 2013 Minimum Board of Directors Officers 17,000 119,941 Average 59,688 518,809 Maximum 96,000 1,252,870 Minimum 40,000 210,766 September 30, 2012 Average 51,667 367,602 Maximum 90,000 696,505

34 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

16

Loans and financing At September 30, 2013 and December 31, 2012 the loans taken out from financial institutions are as follows:
Consolidated September 30, 2013 Effective rate 2.89% 10.14% 4.94% 4.94% 7.24% 13.51% 8.58% 4.49% 3.44% 1.94% 1.94% Transaction cost 11,182 2,892 2,023 1,475 7,803 1,740 4,287 4,593 11,516 3,321 1,369 Unappropriated cost 10,089 2,752 1,966 1,473 6,292 1,346 3,692 3,299 1,341 Transactio n cost 11,182 2,892 1,475 2,023 7,803 1,740 4,164 4,593 8,917 2,998 1,236 Unappropriated cost 10,541 2,816 1,475 2,000 6,854 1,482 3,773 1,571 4,646 2,998 1,237 December 31, 2012

Company Itaqui Itaqui Itaqui Itaqui Pecm II Pecm II Eneva S/A PecemII Parnaba I Parnaba I Parnaba I Parnaba I Parnaba II Parnaba II Parnaba II Parnaba II Eneva S/A Eneva S/A Eneva S/A Eneva S/A Eneva S/A Eneva S/A Eneva S/A Eneva S/A Eneva S/A

Creditor BNDES (Direct) BNB BNDES (Indirect) BNDES (Indirect) BNDES (Direct) BNDES (Direct) Banco Ita BBA BNB BRADESCO Banco Ita BBA BNDES (Direct) BNDES (Direct) Banco Ita BBA Banco HSBC Banco HSBC CEF Promissory notes 1st issuance Banco Citibank Banco Citibank Promissory notes 2nd Issuance Banco BTG Pactual Banco BTG Pactual Banco HSBC Banco BTG Pactual Promissory notes 3rd Issuance (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) (m) (n) (n) (o) (p) (q) (r) (s) (t) (u) (v) (w) (x)

Currency R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ R$ USD R$ R$ R$ R$ R$ R$

Interest rates TJLP +2.78% 10.00% IPCA + TR BNDES + 4.8% TJLP +4.8% TJLP +2.18% IPCA + TR BNDES + 2.18% CDI+2.85% 10.00% CDI+3.00% CDI+3.00% TJLP +1.88% IPCA + TR BNDES + 1.88% CDI+3.00% CDI+3.00% CDI+3.00% CDI+3.00% CDI+1.50% CDI+2.95% LIBOR 3M + 1.26% CDI+1.50% CDI+1.50% CDI+2.95% CDI+1.75% CDI+2.95% CDI+2.95%

Maturity 6/15/2026 12/15/2026 6/15/2026 6/15/2026 6/15/2027 6/15/2027 12/16/2013 1/31/2028 12/18/2014 12/18/2014 6/15/2027 7/15/2026 12/31/2013 12/31/2013 12/31/2013 12/30/2013 12/15/2013 9/22/2014 9/27/2017 12/9/2013 12/13/2013 12/2/2013 3/25/2014 10/21/2013 12/25/2013

Principal 847,591 202,063 107,555 165,293 723,513 129,503 105,790 250,000 60,000 65,000 502,582 212,536 100,000 125,000 100,000 325,000 101,250 111,500 300,000 101,912 350,000 100,000 330,000

Interest 2,463 804 2,669 602 1,953 38,166 3,416 4,070 108 117 1,302 7,616 5,282 49,154 45 14 21,442 7,320 6,352 4,971 9,555 167,420

Total 839,965 200,116 108,258 164,422 719,173 166,323 109,206 250,378 60,108 65,117 500,585 218,810 100,000 125,000 105,282 374,154 101,295 111,514 321,442 109,232 356,352 104,971 339,555 5,551,260

Principal 898,472 202,322 111,299 175,016 695,027 124,439 105,790 235,000 60,000 65,000 495,676 204,388 100,000 125,000 325,000 300,000 101,250 102,175 300,000 101,912

Interest 2,772 859 31,378 669 2,002 25,814 368 3,826 5,634 7,675 392 38 8,189 10,236 21,523 11,595 2,042 18 1,005 372

Total 890,703 200,365 141,202 173,685 690,175 148,772 106,158 235,053 64,063 68,029 493,070 203,189 108,189 135,236 346,523 311,595 103,292 102,193 301,005 102,284

52,201

32,248 Unapprop riated cost

5,416,088

49,023

39,393

4,827,766

136,407

4,924,780

Principal 2,361,442 3,054,646

Interest 167,420

Total 2,527,847 3,023,413

Unapprop riated cost 6,984 32,409

Principal 1,716,403 3,111,363

Interest 110,555 25,852

Total 1,819,974 3,104,806

Current Non-current

1,015 31,233

35 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

The table below shows the breakdown of the loans of the joint subsidiary Porto do Pecm Gerao de Energia S.A. and the indirect subsidiaries MPX Chile Holding Ltda. and UTE Parnaba IV Gerao de Energia S.A. As a result of the new consolidation rules introduced by IFRS 11, from 2013 we are no longer obliged to present them in the quarterly information:
Consolidated September 30, 2013 Company Pecm I (50%) Pecm I (50%) Pecm I (50%) Chile (50%) Chile (50%) Parnaba IV (35%) Creditor BNDES (Direct) IDB IDB Banco Credit Suisse Banco Credit Suisse Banco BTG Pactual (y) (z) (aa) (bb) (cc) (dd) Currency R$ USD USD USD USD R$ Interest rates TJLP + 2.77% LIBOR + 3.50% LIBOR + 3.00% 8.125% 8.000% CDI + 2.28% Maturity 6/15/2026 5/15/2026 5/15/2022 4/15/2015 4/15/2015 1/29/2014 Effective Rate TJLP + 3.09% Libor + 4.67% Libor + 4.16% Transact ion cost 8,461 8,829 8,965 Unapprop riated cost 5,038 5,761 5,355 Principal 755,258 153,907 182,702 13,372 8,915 24,500 1,138,654 Interest 2,201 2,316 2,400 507 333 1,056 8,813 Total 752,421 150,463 179,747 13,879 9,248 25,556 1,131,313 Transact ion cost 8,461 8,705 8,814 Unappropri ated cost 5,644 6,196 6,001 Principal 799,685 143,974 173,716 14,907 10,232 1,142,514 December 31, 2012 Interest 2,475 740 782 267 175 4,439 Total 796,516 138,518 168,498 15,173 10,408 1,129,113

26,255

16,154 Unapprop riated cost

25,980

17,841 Unappropri ated cost 2,609 15,231

Principal 80,652 1,058,003

Interest 8,813

Total 86,953 1,044,361

Principal 88,083 1,054,432

Interest 4,439

Total 89,913 1,039,201

Current Non-current

2,512 13,642

36 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reaisunless otherwise stated

(a)

The National Social and Economic Development Bank ("BNDES") released the entire R$ 784 million of the long-term loan to UTE Porto do Itaqui Gerao de Energia S.A. relating to subcredits A, B and C, incurring an annual cost of TJLP + 2.78%. The financing facility has a term of 17 years, with 14 years repayment and a grace period on the principal until July 2012. Subcredit D, intended for social investments (BNDES Social) of R$ 13.7 million, only incurs TJLP and R$ 11.7 million has been disbursed to date. The "BNDES Social" facility has a total term of 9 years, with 6 years repayment and a grace period until July 2012. The interest earned during the grace period was capitalized along with the amounts disbursed. The balance of the principal at September 30, 2013 therefore stands at R$ 847.6 million. The interest on these loans was capitalized during the construction phase. This loan has the following guarantees, which are shared with the other banks financing this project: (i) Corporate guarantee of the parent company MPX Energia S/A; (ii) Share Escrow; (iii) Assignment of Rights and Receivables; (iv) Assignment of Rights arising from the National Electric Power Agency (ANEEL) Authorization; (v) Conditional Assignment of Rights and Contracts; (vi) Assignment of Machinery and Equipment; (vii) Mortgage; and (viii) Liquidity Fund in Reserve Account. To top up the funding from the BNDES, UTE Porto do Itaqui Gerao de Energia S.A took out a loan from BNB-FNE, worth a total R$ 203 million under which the last payment was released on July 28, 2011, completing the loan. The BNB loan has a total term of 17 years, with 14 years repayment and a grace period on the principal until July 2012. It is charged interest of 10% p.a. The funding has a performance bonus (15%), which consequently reduces the cost to 8.5% per annum. This loan has the following guarantees, which are shared with the other banks financing this project: (i) Corporate guarantee of the parent company Eneva S/A; (ii) Share Escrow; (iii) Assignment of Rights and Receivables; (iv) Assignment of Rights arising from the National Electric Power Agency (ANEEL) Authorization; (v) Conditional Assignment of Rights and Contracts; (vi) Assignment of Machinery and Equipment; (vii) Mortgage; and (viii) Liquidity Fund in Reserve Account. R$ 99 million of this indirect BNDES line has been released to UTE Porto do Itaqui Gerao de Energia S.A, consisting of subcredits A, B, C, D and E, whose agents are the banks Bradesco and Votorantim This part of the loan has a total term of 17 years, including 14 years of amortization and a grace period for interest and the principal until July 2012. The loan incurs IPCA + BNDES Reference rate + 4.8% p.a. during the construction stage and IPCA + BNDES Reference rate + 5.3% during the operational stage. The interest earned during the grace period was capitalized along with the amounts disbursed. The balance of the principal at September 30, 2013 therefore stands at R$ 107.6 million. The interest on these loans was capitalized during the construction phase. This loan has the following guarantees, which are shared with the other banks financing this project: (i) Corporate guarantee of the parent company Eneva S/A; (ii) Share Escrow; (iii) Assignment of Rights and Receivables; (iv) Assignment of Rights arising from the National Electric Power Agency (ANEEL) Authorization; (v) Conditional Assignment of Rights and Contracts; (vi) Assignment of Machinery and Equipment; (vii) Mortgage; and (viii) Liquidity Fund in Reserve Account. The entire subcredit F, of the loan mentioned in the previous item equal to R$ 141.8 million, has been passed through to UTE Porto do Itaqui Gerao de Energia S.A. This part of the loan has a total term of 17 years, with 14 years repayment and a grace period on the principal and interest until July 2012. The loan incurs TJLP + 4.80% p.a. during the construction stage and TJLP + 5.30% during the operational stage. The interest earned during the grace period was capitalized along with the amounts disbursed. The balance of the principal at

(b)

(c)

(d)

37 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

September 30, 2013 therefore stands at R$ 165.3 million. The interest on these loans was capitalized during the construction phase. This loan has the following guarantees, which are shared with the other banks financing this project: (i) Corporate guarantee of the parent company Eneva S/A; (ii) Share Escrow; (iii) Assignment of Rights and Receivables; (iv) Assignment of Rights arising from the National Electric Power Agency (ANEEL) Authorization; (v) Conditional Assignment of Rights and Contracts; (vi) Assignment of Machinery and Equipment; (vii) Mortgage; and (viii) Liquidity Fund in Reserve Account. (e) By September 30, 2013 UTE MPX Pecm II had received R$ 615.3 million of the R$ 627.3 million earmarked in subcredits A, B, C, D and L of the long-term financing contract with the BNDES (in nominal R$, excluding interest during the construction). These subcredits have a total term of 17 years, with 14 years repayment and a grace period on the principal and interest until July 2013. The loan incurs LTIR + 2.18% p.a. The interest earned during the grace period was capitalized along with the amounts disbursed. The balance of the principal at September 30, 2013 therefore stands at R$ 723.5 million. Bank guarantees totaling R$ 493.9 million were pledged as a separate guarantee for the granted loan. In addition, this loan has the following guarantees, which are shared with the other banks financing this project: (i) Share Escrow; (ii) Assignment of Rights and Receivables; (iii) Assignment of Rights arising from the National Electric Power Agency (ANEEL) Authorization; (iv) Conditional Assignment of Rights and Contracts; (v) Assignment of Machinery and Equipment; (vi) Mortgage; (vii) Liquidity Fund in Reserve Account; and (viii) Corporate Guarantee of Eneva S.A. UTE MPX Pecm II received R$ 110.1 million referring to subcredits E, F, G, H and I of the long-term financing contract with the BNDES mentioned in the item above. These subcredits have a total term of 17 years, with 14 years repayment and a grace period on the principal and interest until June 2014. The loan incurs IPCA + BNDES Reference rate + 2.18% p.a. Subcredit J, of R$ 22 million, which comprised this financing line, was transferred in April 2012 to subcredit A of the previous item. A bank guarantee totaling R$ 88.1 million was pledged as a separate guarantee for the granted loan. In addition, this loan has the following guarantees, which are shared with the other Banks financing this project: (i) Share Escrow; (ii) Assignment of Rights and Receivables; (iii) Assignment of Rights arising from the National Electric Power Agency (ANEEL) Authorization; (iv) Conditional Assignment of Rights and Contracts; (v) Assignment of Machinery and Equipment; (vi) Mortgage; (vii) Liquidity Fund in Reserve Account; and (viii) Corporate Guarantee of Eneva S.A. On June 17, 2013 the parent company Eneva S.A. renegotiated the R$ 105.8 million of CCBs (Bank Credit Notes) from Banco Ita BBA S.A., paying all the interest due up to that date with the new maturity date changing to December 16, 2013 and the interest held at the CDI rate plus 2.85% per annum. To top up the funding from the BNDES, MPX Pecm II Gerao de Energia S.A. took out a loan from BNB with FNE funding, worth a total R$ 250 million, which has been disbursed in its entirety. The BNB loan has a total term of 17 years, with quarterly interest and 14 years' repayment and a grace period on the principal until February 2014. It is charged interest of 10% p.a. The funding has a performance bonus (15%), which consequently reduces the cost to 8.5% per annum. This loan has the following guarantees, which are shared with the other Banks financing this project: (i) Share Escrow; (ii) Assignment of Rights and Receivables; (iii) Assignment of Rights arising from the National Electric Power Agency (ANEEL) Authorization; (iv) Conditional Assignment of Rights and Contracts; (v) Assignment of Machinery and Equipment; (vi) Mortgage; (vii) Liquidity Fund in Reserve Account; and (viii) Corporate Guarantee of Eneva S.A.

(f)

(g)

(h)

38 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(i)

On December 27, 2011 UTE Parnaba Gerao de Energia S.A. borrowed R$ 75 million under a CCB loan (Bank Credit Note) with BRADESCO, which was endorsed by the parent company. Taken out to finance the construction of thermoelectric power plants Maranho IV and V, this bridge loan incurs annual interest at the CDI rate + 3% and matures on June 26, 2013, whereupon the principal and interest is due. A further R$ 75 million was disbursed on February 28, 2012 by the bank on the same terms as the previous disbursement. R$ 90 million of the principal plus the interest due was settled on December 28, 2012, when the long-term BNDES loan described in items (k) and (l) was released. On June 26, 2013 UTE Parnaba Gerao de Energia S.A. renegotiated the principal balance of R$ 60 million, paying all the interest due up to that date with the new maturity date changing to September 24, 2013 and the interest held at the CDI rate plus 3% per annum. On September 24 UTE Parnaba renegotiated the terms of the contract, changing the maturity date to December 18, 2014. The principal and interest will be paid in 15 monthly installments. On December 27, 2011 UTE Parnaba Gerao de Energia S.A. borrowed R$ 125 million under a CCB loan (Bank Credit Note) with Banco Ita BBA, which was endorsed by the parent company. Taken out to finance the construction of thermoelectric power plants Maranho IV and V, this bridge loan incurs annual interest at the CDI rate + 3% and matures on June 26, 2013, whereupon the principal and interest is due. R$ 60 million of the principal plus the interest due was settled in December 2012, when the long-term BNDES loan described in items (k) and (l) was released. On June 26, 2013 UTE Parnaba Gerao de Energia S.A. renegotiated the principal balance of R$ 65 million, paying all the interest due up to that date with the new maturity date changing to September 24, 2013 and the interest held at the CDI

(j)

rate plus 3% per annum. On September 24 UTE Parnaba renewed the contract, changing the maturity date to October 24, 2013, and subsequently to November 24, 2013.
On October 31, 2013, UTE Parnaba renegotiated the terms of the contract, changing the maturity date to December 18, 2014. The principal and interest will be paid in 15 monthly installments. (k)

In December 2012 UTE Parnaba Gerao de Energia S.A. received R$ 495.6 million as subcredits B and C of the bridge loan from BNDES, out of a total of R$ 671 million. These subcredits will be amortized over 168 monthly installments commencing July 15, 2013, along with the interest. The loan incurs LTIR + 1.88% p.a. In December 2012 UTE Parnaba Gerao de Energia S.A. received R$ 204.3 million referring to the entire subcredit C of the long-term financing contract with the BNDES mentioned in the item above. This subcredit will be amortized over 13 annual installments commencing July 15, 2014, along with the interest. The loan incurs IPCA + BNDES Reference rate + 1.88% p.a. The interest earned during the grace period is capitalized along with the amounts disbursed. The balance of the principal at September 30, 2013 therefore stands at R$ 212.6 million. The total disbursed amount of R$ 700 million, in addition to the corporate guarantee of Eneva S.A with limited liability of up to 70% of the debt balance, were pledged as guarantee for the loan obtained with the A, B and C subcredits (mentioned in the above item). This debt is guaranteed by (i) Share Escrow; (ii) Assignment of Rights and Receivables; (iii) Assignment of Rights arising from the National Electric Power Agency (ANEEL) Authorization; (iv) Assignment of Machinery and Equipment; and (v) Mortgage. On March 30, 2012 UTE Parnaba II Gerao de Energia S.A. borrowed R$ 100 million under a CCB loan (Bank Credit Note) with Banco Ita BBA, which was endorsed by the parent company. Taken out to finance the construction of thermoelectric power plant Maranho III, this bridge loan incurs annual interest at the CDI rate + 3% and matures on September 30,

(l)

(m)

39 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

2013, whereupon the principal and interest is due. On September 30, 2013 UTE Parnaba II renegotiated the agreement, altering its maturity date to December 30, 2013. This loan is guaranteed by the following: (i) Assignment of all shares issued by UTE Parnaba II Gerao de Energia S.A. held by the Company; (ii) Assignment of Supply Contracts under which UTE Parnaba II Gerao de Energia S.A. transfers the loss and damage indemnities to be received by Petra Energia S.A. and OGX Maranho Petrleo e Gs S.A. according to the supply agreement that they entered to; and (iii) Corporate Guarantee of Eneva S.A. (n) On March 30, 2012 UTE Parnaba II Gerao de Energia S.A. borrowed R$ 125 million under a CCB loan (Bank Credit Note) with Banco HSBC, which was endorsed by the parent company. Taken out to finance the construction of thermoelectric power plant Maranho III, this bridge loan incurs annual interest at the CDI rate + 3% and matures on September 30, 2013, whereupon the principal and interest is due. On September 30, 2013 UTE Parnaba II renegotiated the agreement, altering its maturity date to December 30, 2013. A further R$ 100 million was disbursed on June 3, 2013 by the bank on the same terms as the previous disbursement, although the principal and interest of this loan mature on December 31, 2013. This debt is covered by the guarantees described in item (m) above. On May 07, 2012 UTE Parnaba II Gerao de Energia S.A. borrowed R$ 325 million under a CCB loan (Bank Credit Note) with Caixa Econmica Federal, which was endorsed by the parent company. Taken out to finance the construction of thermoelectric power plant Maranho III, this bridge loan incurs annual interest at the CDI rate + 3% and matures on November 07, 2013, whereupon the principal and interest is due. A portion of R$ 125 million has been released, in addition to two portions of R$ 100 million, on May 08, 2012, May 15, 2012 and May 30, 2012. On November 6, 2013 UTE Parnaba II renewed this agreement, changing its maturity date to December 30, 2013. This debt is covered by the guarantees described in item (m) above. On July 18, 2012 Eneva S/A publicly distributed 300 commercial promissory notes in a single series, with a nominal unit value of R$ 1 million, amounting to a total of R$ 300 million, maturing 360 days after issuance, yielding the CDI rate plus 1.5% p.a. These promissory notes were settled in advance on June 28, 2013 via the issuance of new promissory notes described in item (x) below. On September 27, 2012 the parent company Eneva S.A issued a CCB (Bank Credit Note) via Banco Citibank S.A. for R$ 101,250 maturing on September 27, 2013. The interest agreed was 100% of the CDI rate +1.15% per annum and is due upon maturity. On September 27, 2013 Eneva S/A renewed this agreement, changing its maturity date to September 22, 2014 and changing the interest rate to CDI plus 2.95% per annum. On September 27, 2012 the parent company Eneva S.A took out a loan equal to USD 50,000 from Banco Citibank S.A. under a Credit Agreement, in due accordance with BACEN Resolution 4131. This loan is subject to interest of Libor + 1.26% p.a. and will be paid quarterly. The principal will be paid semi-annually, with a grace period of September 26, 2014 and the contract expiring on September 27, 2017. Eneva S.A. took out a swap from Citibank in order to hedge this loan against exchange variance. See Note 18. On December 14, 2012 Eneva S/A publicly distributed 300 commercial promissory notes in a single series, with a nominal unit value of R$ 1 million, amounting to a total of R$ 300 million, maturing 360 days after issuance, yielding the CDI rate plus 1.5% p.a.

(o)

(p)

(q)

(r)

(s)

40 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(t)

On December 13, 2012 the parent company Eneva S.A issued a CCB (Bank Credit Note) via Banco BTG Pactual for R$ 101.9 million maturing on December 13, 2013. The interest agreed was 100% of the CDI rate plus 1.50% per annum and is due upon maturity. On February 07, 2013 the parent company Eneva S.A issued a CCB (Bank Credit Note) via Banco BTG Pactual for R$ 350 million maturing on August 06, 2013. The interest agreed was 100% of the CDI rate plus 2.95% per annum and is due upon maturity. On August 6, 2013 the company renegotiated the loan, altering its maturity date to December 2, 2013. On March 25, 2013 the parent company Eneva S.A issued a CCB (Bank Credit Note) via Banco HSBC for R$ 100 million maturing on March 25, 2014. The interest agreed was 100% of the CDI rate plus 1.75% per annum and is due upon maturity. On June 20, 2013 and June 28, 2013 the parent company Eneva S.A issued two CCBs (Bank Credit Notes) via Banco BTG Pactual for the individual amounts of R$ 50 million, both maturing on October 21, 2013. The interest agreed was 100% of the CDI rate plus 2.95% per annum. These CCBs were paid in advance on September 5. On June 28, 2013 Eneva S/A publicly distributed 33 commercial promissory notes in a single series, with a nominal unit value of R$ 10 million, amounting to a total of R$ 330 million, maturing on December 25, 2013, yielding the CDI rate plus 2.95% p.a. By June 30, 2013 the BNDES had released R$ 1.40 billion of a long-term loan to Porto do Pecm Gerao de Energia S.A. The BNDES financing agreement involves a total amount of R$ 1.41 billion (in nominal R$, excluding interest during the construction), with a total term of 17 years, including 14 years for amortization and a grace period for payment of interest and principal until July 2012. The loan incurs LTIR + 2.77% p.a. The interest was capitalized during the construction phase. The balances of the principal and interest stated in the table above refer to 50% of the original balances, and take into account the 50% interest of EDP Energias do Brasil S.A. in the company. This loan has the following guarantees, which are shared with the other banks financing this project: (i) Mortgage; (ii) Share Escrow; (iii) Assignment of Rights and Receivables; (iv) Assignment of Rights and Contracts; (v) Assignment of Machinery and Equipment; (vi) Promissory Notes; (vii) Revenue Account in Reserve Account; (viii) Corporate Guarantee of Eneva S.A. up to the limit of 50% of the balance payable; and (ix) Corporate Guarantee of EDP up to the limit of 50% of the balance payable. To top up the direct loan from the BNDES, Porto do Pecm Gerao de Energia S.A has a direct loan from the Interamerican Development Bank - BID ("A loan"), worth a total USD 147 million, of which USD 143.78 million has been released thus far (equal to R$ 312,448 at September 30, 2013). The A Loan has an annual cost of Libor + 3.5% and a total term of 17 years, with 14 years repayment and a grace period on the principal until July 2012. The balances of the principal and interest stated in the table above refer to 50% of the original balances, and take into account the 50% interest of EDP Energias do Brasil S.A. To top up the direct loan from the BNDES, Porto do Pecm Gerao de Energia S.A has an indirect loan from the Interamerican Development Bank - BID ("B loan"), worth a total USD 180 million, of which USD 176 million has been released thus far (equal to R$ 370,204 at September 30, 2013). The onlending banks are Grupo Banco Comercial Portugus, Calyon and Caixa Geral de Depsito. The B Loan has a total term of 13 years and a cost of 3.0%, with 10 years repayment and a grace period on the principal until July 2012. The balances of the principal and interest stated in the table above refer to 50% of the original balances, and take into account the 50% interest of EDP Energias do Brasil S.A.

(u)

(v)

(w)

(x)

(y)

(z)

(aa)

41 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

(bb) On April 13, 2011 MPX Chile Holding Ltda. took out an offshore loan from Banco Credit Suisse, endorsed by the parent company. The loan is denominated in US dollars amounting to USD 15 million (equal to R$ 27,758 as at September 30, 2013), charged fixed annual interest of Libor + 8.13%. The principal and interest will be paid semi-annually, with a grace period for the principal until April 15, 2013 and the contract expiring on April 15, 2015. The balances of principal and interest shown in the table above account for 50% of the original balances. (cc) On June 29, 2011 MPX Chile Holding Ltda. took out an offshore loan from Banco Credit Suisse, endorsed by the parent company. The loan is denominated in US dollars amounting to USD 10 million (equal to R$ 18,495 at September 30, 2013), charged fixed annual interest of Libor + 8%. The principal and interest will be paid semi-annually, with a grace period for the principal of until April 15, 2013 and the contract expires on April 15, 2015. The balances of principal and interest shown in the table above account for 50% of the original balances.

(dd) On April 29, 2013 UTE Parnaba II Gerao de Energia S.A. borrowed R$ 70 million under a CCB contract (Bank Credit Note) with Banco BTG Pactual. Taken out to finance the construction of a natural gas thermal power plant with Kinross Brasil Minerao S.A., this bridge loan incurs annual interest of the CDI rate plus 2.28% per annum and matures on January 29, 2014, whereupon the principal and interest is due. The balances of principal and interest shown in the table above account for 35% of the original balances. The portions of the loans and financing classified in non-current liabilities at September 30, 2013 have the following payment schedule: Consolidated Maturity 2014 2015 2016 2017 to final maturity 56,522 237,485 242,369 2,487,037 3,023,413 Financial covenants Creditors involved in financial contracts use financial covenants in a number of debt contracts to monitor the Company and its investees' financial situation. The financing contracts relating to the ventures Porto do Pecm Gerao de Energia S.A., MPX Pecm II Gerao de Energia S.A., UTE Porto do Itaqui Gerao de Energia S.A. and UTE Parnaba Gerao de Energia S.A. have minimum debt service coverage indexes that measure the payment capacity of the financial expense in relation to EBITDA. . All the financial covenants had been observed at September 30, 2013.

42 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

Non-financial covenants A number of financing contracts also have nonfinancial covenants, which are usual for the market and have been summarized below. At September 30, 2013 all these covenants were being observed.

Obligation to periodically submit financial statements to creditors. Creditor rights to inspect and visit facilities. Obligation to keep up with tax, social security and payroll obligations. Obligation to maintain materially important contracts for its operations in force. Comply with environmental legislation and keep any operating licenses necessary in force. Contractual restrictions on related-party transactions and sales of assets outside the normal course of business. Restrictions on the change of share control, corporate restructuring and material changes to the core activities and articles of association of the borrowers. Restrictions on debt ratios and the procurement of new debt.

No nonperformance of financial and non-financial covenants were detected at September 30, 2013. 17 Taxes and contributions payable
Parent Company September 30,2013 Corporate Income Tax - IRPJ Social Contribution on Net Income - CSLL Income Tax Withheld at Source - IRRF ICMS PIS, COFINS, IRRF and CSL Tax on Financial Transactions - IOF IVA (Chile/Austria) ISS at Source Third parties Others Current December 31, 2012 September 30,2013 4,063 1,751 3,236 297 9,532 9 14,806 9,872 43,566 Consolidated December 31, 2012 344 537 1,667 115 1,559 15 3,004 7,241

1 159 8 61 2 231

56 37 40 14 255 402

On September 30, 2013, the consolidated balance was basically comprised of withholding income taxes and Corporate Income Tax (IRPJ) and Social Contribution on Net Income (CSLL).

43 of 69

Eneva S.A.

(Publicly-held company) Notes to the quarterly information at September 30, 2013


All amounts in thousands of reais unless otherwise stated

18

Financial instruments and risk management The management of these financial instruments is carried out through operating strategies and internal controls, aimed at liquidity, profitability and security. The control policy consists of permanently monitoring contract rates versus market rates. The Company and its subsidiaries do not invest in derivative financial instruments or any other risky assets on a speculative basis. This is a determination of the financial investment policy. The estimated realization values of the financial assets and liabilities of the Company and its subsidiaries were determined through information available in the market and appropriate valuation methodologies. However, considerable judgment was required in the interpretation of the market data to estimate the most adequate realization value. Consequently, the estimates below do not necessarily indicate the values that could be realized in the current exchange market. The use of different market methodologies may have a material effect on the estimated realizable values. The consolidated book balances of the main financial instruments included in the balance sheets as at' September 30, 2013 and December 31, 2012 are shown below:
Parent Company September 30, 2013
Financial instruments Fair value Amort. cost Total Fair value

December 31, 2012


Amort. cost Total

Assets Cash and cash equivalents Gains on derivative transactions Securities Escrow deposits Loans to subsidiaries Accounts receivable from other related parties Accounts receivable from subsidiaries AFAC-with subsidiaries Embedded derivatives Liabilities Trade payables Loans and financing Debentures Debts with subsidiaries Debts with other related parties

302,324 10,491 37 889,304 1,134 22,020 388,202 52 3,587 1,553,567 5,216 2,528 5,610

302,324 10,491 37 889,304 1,134 22,020 388,202 52 3,587 1,553,567 5,216 2,528 5,610

206,263 3,018 102,684 505,976 1,134 16,364 419,426

206,263 3,018 102,684 505,976 1,134 16,364 419,426 479 3,849 1,026,527 5,065 3,859 2,664

479

3,849 1,026,527 5,065 3,859 2,664

44 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

Consolidated September 30, 2013 Financial instruments Assets Cash and cash equivalents Securities Accounts receivable Gains on derivative transactions CCC subsidy receivable Escrow deposits Loan with subsidiaries Accounts receivable from other related parties Accounts receivable from associated companies Embedded derivatives Liabilities Trade payables Loans and financing Debentures Debits with associated companies Debits with related parties Losses on derivative transactions Contractual retentions Fair value 356,552 235,820 10,521 43,341 152,496 185,927 1,134 5,204 53 384,195 5,551,260 5,216 2,528 156,492 52,640 Amort. cost Total 356,552 235,820 10,521 43,341 152,496 185,927 1,134 5,204 53 384,195 5,551,260 5,216 2,528 156,492 52,640 117,748 479 115,261 4,924,780 5,065 26,783 4,419 77,374 Fair value 519,277 3,441 21,345 3,018 42,178 135,683 134,926 1,134 6,793 December 31, 2012 Amort. cost Total 519,277 3,441 21,345 3,018 42,178 135,683 134,926 1,134 6,793 479 115,261 4,924,780 5,065 26,783 4,419 117,748 77,374

The financial instruments measured at amortized cost and presented above approximate to their market values (fair value). 18.1 Fair value of financial instruments The concept of fair value states that assets and liabilities should be valued at market prices, in the case of liquid assets, or by using mathematical pricing methods, in other cases. The hierarchy level of the fair value gives priority to unadjusted prices quoted on an active market. A part of the Company's accounts has the fair value equal to book value, these accounts include cash equivalents, payables and receivables, bullet debts and short-term. The accounts whose fair value differs from book value can be seen below: Prices observable in an active market (Level I) Loans and financing Derivatives Balance at September 30, 2013 Pricing with observable prices (Level II) (4,447,361 ) 10,491 (4,436,870 ) Pricing without observable prices (Level III)

45 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

18.2

Derivatives, hedges and risk management The Company has a formal policy for financial risk management. The use of financial instruments for hedging purposes is done through an analysis of the risk exposure (exchange and interest rates, amongst others) and follows the strategy approved by the Board of Directors. The protection guidelines are applied according to exposure type. The risk factors posed by foreign currencies should be neutralized in the short term (within 1 year), and the protection may be extended for longer. Decision taking regarding the risk posed by interest rates and inflation on liabilities acquired will be assessed in terms of the economic and operational context and when Management deems the risk to be material.

18.2.1 Notional and fair value of derivative instruments Forward currency contract - acquisition of US dollars (USD)
September 30, 2013 Notional USD December 31, 2012 Notional USD 10,963 8,524 19,487

Maturity Eneva Long position USD Goldman Sachs Morgan Stanley Total USD

Assets

Liabilities

MTM

MtM 735 1,443 2,178

This contract was signed with the purpose of hedging the equipment purchase transactions (CAPEX) for UTE Parnaba, and was settled in December 2012 due to the UTE becoming operational at the beginning of 2013. Interest rate swap obligation
September 30, 2013 Maturity UTE Porto do Itaqui Libor | Fixed Citibank Total Swap Notional USD Assets Liabilities MTM December 31, 2012 Notional USD 220,776 220,776 MtM (117,748 ) (117,748 )

Swap Cross-Currency
September 30, 2013 Maturity Eneva Libor USD | DI Citibank Total Swap 9/27/2017 Notional 101,250 101,250 Assets 112,430 112,430 Liabilities 101,939 101,939 MTM 10,491 10,491 December 31, 2012 Notional 101,250 101,250 MtM 840 840

46 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

18.2.2 Market risk Risk of change in the commodities prices, exchange rates and interest rates. 18.2.2.1 Currency risk Risk of change in the exchange rates which could be associated to the Company's assets and liabilities (a) Risk management The Company manages the exchange risk on a consolidated basis for its companies to detect and mitigate risks posed by changes in exchange rates underlying global assets and liabilities. The aim is to detect or create natural hedges, taking advantage of the synergy between the companies' operations, thereby minimizing the use of derivatives. Derivative instruments are used in cases where natural hedges cannot be taken advantage of. (b) Investment in fixed assets (capex) As the Eneva companies' revenue is obtained in Brazilian reais and most of their investments in fixed assets (Capex) are denominated in US dollars and Euros, a portion of their foreign-currency investments will be funded in US dollars at international interest rates (Libor). Furthermore, the prices of the raw material for the thermal power plants (coal fuel) are determined in the international market, in US dollars. The level of the assets and liabilities' exposure is therefore permanently assessed in terms of possible hedge requirements. The Company and its subsidiaries do not currently hold derivatives like NDFs (Non Deliverable Forwards), which consist of forward trading without physical delivery of currency to minimize the impact of exchange mismatching. (c) Loans and financing: The Company has foreign exchange exposure on its financial liabilities, deriving from transactions in US dollars by its subsidiaries. Eneva's 50 million dollar loan is translated into reais for restatement via the DI rate via a cross-currency swap. MPX Chile has a loan and revenue denominated in US dollars, meaning there is no mismatch between the asset and liability currencies. 18.2.2.2 Exchange risk (a) Operations hedged by derivative instruments US dollar loan of UTE Porto do Pecm

Hedge accounting

The investment in capex of Energia Pecm (construction of the thermal power plant) will consist of 75% long-term financing, partly in US dollars, and 25% of company capital. The long-term financing agreements were signed with the Inter-American Development Bank ("BID") and the National Social and Economic Development Bank ("BNDES") on July 10, 2009. To finance its capex requirements in the period prior to July 10, 2009 it was necessary to take out a bridge loan from Citibank, which will be repaid using funds provided under said financing agreements. 47 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

As most of the investment is denominated in US dollars and Euros and its future revenue will be generated in Brazilian reais, derivative instruments have been taken out for hedge purposes. On April 1, 2009 the Company used hedge accounting in order to hedge against the exchange variance on the longterm US dollar financing loans taken out from IDB. The derivative instrument used is an NDF maturing in October 2012 with a notional value of USD 327 million. (USD 163.5 million equal to 50% of the interest of Eneva S.A.). This NDF was rolled over on September 25, 2012 with a notional value of USD 327 million and maturing between November 2012 and May 2015. As this is hedge accounting classified as cash flow, changes in the fair value of derivative instruments designated as cash flow hedges are recognized directly in shareholders' equity for the amount of the hedge that is considered effective. The difference between the fair value and the exchange variance is the ineffective portion which is therefore recognized in the statement of operations. This bridge loan was settled on October 30, 2009. USD 260 million was released on this date consisting of the first part of the long-term funding from BID and the adjustment to present value (AVP) was calculated based on the USD 67 million yet to be disbursed by the BID (before this release, the AVP was calculated based on the exposure of USD 169 million relating to the difference in the contracted derivative of USD 327 million and the bridge loan of USD 158 million). USD 50 million was released on August 31, 2010 referring to the second portion of the IDB long-term financing, and the AVP accordingly began to be calculated based on the outstanding USD 17 million, not yet disbursed by IDB. USD 9 million was released on February 4, 2011 referring to the third portion of the IDB long-term financing, and the AVP accordingly began to be calculated based on the outstanding USD 7 million, not yet disbursed by IDB. The item covered by this financial instrument for the purpose of hedge accounting also has the following features:

ANEEL awarded the venture the DCO for the second generating unit in May 2013. The covered item is associated with said investment (made public by the company). The public investment is of material value to Brazil. USD 158 million was originally contracted (98% of the total item covered), and the amount now stands at USD 319.7 million.

The impacts of the gains and losses of this hedge accounting transaction in the period were as follows: 2013 Net income Hedge derivatives Derivative gains (losses) (2,595 ) Shareholders' equity 1,713

48 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

2012 Net income Hedge derivatives Derivative gains (losses) (3,966 ) Shareholders' equity 2,617

On April 1, 2011 the Company used hedge accounting in order to hedge against the libor interest for the amortization period on the long-term US dollar financing loans taken out from IDB. The derivative instrument designated for this relation is an interest-rate cash-flow float/fixed maturing between October 2012 and October 2024, whose notional amounts refer to the expected accumulated disbursement tranches of the long-term interest owed to IDB. As this is hedge accounting classified as cash flow, changes generated by the MTM (mark-to-market) variance, net of the interest provided for up to the base date, are recognized directly in shareholders' equity in an equity valuation adjustment account. The difference between the fair value and the libor rate is the ineffective portion which is therefore recognized in the statement of operations. The impacts of the gains and losses of this hedge accounting transaction in the period were as follows: 2013 Net income Hedge derivatives Derivative losses (11,518 Shareholders' equity 7,602 2012 Net income Hedge derivatives Gain on derivatives 18.2.2.3 Interest rate risk Risk of shifting of the interest structure that could be associated with the payment flows of the debt principal and interest. 10,235 Shareholders' equity (6,756 )

49 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

(a)

Cash flow risk related to floating interest rates There is a financial risk associated with floating rates that could increase the future value of the financial liabilities. The common risk is uncertainty about the interest futures market, which makes payment flows unpredictable. In loss scenarios, the interest forward rises, thereby increasing the liability's value. Alternatively, the company's liabilities could diminish if the rates fell. More than 90% of Eneva and its subsidiaries' liabilities are indexed to floating interest in the interbank deposit segment (DI) and the long-term interest rate of the BNDES (TJLP), and in the inflationary segment with restatement according to the IPCA price index. The debt that incurs the interbank deposit rate is allocated as short-term. Despite accounting for more than 45% of the loans portfolio, most of the total of 2.06 billion reais will be settled by the end of 2013. The volatility posed by this risk factor is thereby substantially reduced. The BNDES facilities restated by the IPCA and TJLP price indexes - which also contain a strong inflation component - are part of a special credit segment posing low volatility and therefore a low probability of abrupt changes in rates. As this is a specific segment, caution should be exercised in respect of interference and hypotheses in statistical models in the attempt to map out and make projections about this segment in order to quantify the hypothetical related losses. Furthermore, the companies' assets consisting of the revenue will also be restated by the same rates, which substantially reduces the mismatch between asset and liability rates.

18.2.3. Credit risk This arises from the possibility of the Company and its subsidiaries suffering losses due to the default of their counterparties or of financial institutions where they have funds or financial investments. This risk factor could derive from commercial operations and cash management. To mitigate these risks, the Company and its subsidiaries have a policy of analyzing the financial position of their counterparties, as well as constantly monitoring outstanding accounts. The Company has a Financial Investment Policy, which establishes investment limits for each institution and considers the credit rating as a reference for limiting the investment amount. The average terms are continually assessed, as are the indexes underlying the investments, in order to diversify the portfolio. The maximum exposure to credit risk is denoted by the balance of short-term investments.
Consolidated September 30, 2013 Positions denoting credit risk Cash and cash equivalents Securities Trade receivables Gains on derivative transactions CCC subsidy receivable Escrow deposits Consolidated credit accounts 356,552 235,820 10,521 43,341 152,496 798,730 December 31, 2012 519,277 3,441 21,345 3,018 42,178 135,683 724,942

50 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

18.2.4. Liquidity risk The Company and its subsidiaries monitor their liquidity levels, based on expected cash flows versus the amount of cash and cash equivalents on hand. Managing the liquidity risk means maintaining cash, sufficient securities and capacity to settle market positions, roll forward its short-term debts, implement new financing alternatives, cost savings and the capacity of settling market positions, as detailed plan in Note 1. . The amounts in the chart below, recognized at September 30, 2013, approach the operations' settlement values, including estimated future interest payments.
Consolidated - September 30, 2013 Up to 6 months Liabilities Trade payables Related-party transactions Loans and financing Contractual retention Derivative financial instruments 384,195 7,617 2,329,392 3,785 2,724,989 6 to 12 months 1 to 2 years 2 to 5 years Over 5 years Total by account 384,195 159,020 6,639,740 52,640 14,408 7,250,003

413,032 52,640 3,187 468,859

151,403 389,516 5,755 546,674

1,047,754 1,681 1,049,435

2,460,046

2,460,046

Consolidated - December 31, 2012 Up to 6 months Liabilities Trade payables Related-party transactions Loans and financing Debentures Contractual retention Derivative financial instruments 115,261 30,772 598,139 14,793 758,965 6 to 12 months 1 to 2 years 2 to 5 years Over 5 years Total 115,261 31,202 7,604,753 5,065 77,374 145,354 7,979,009

1,883,891 111 77,374 14,322 1,975,698

430 648,171 4,954 29,570 683,125

1,361,339 59,920 1,421,259

3,113,213 26,749 3,139,962

19

Provision for contingencies The Company and its subsidiaries are not party to judicial proceedings, involving labor and tax issues rated as a probable loss, and no provision was therefore made for them. The Company and its subsidiaries are party to judicial proceedings, involving labor and civil issues to the estimated amount of R$ 28.263 (R$ 24.280 as of December 31, 2012). Their legal advisors rate the proceedings as a possible loss, and management does not believe it is necessary to record a provision for them.

51 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

20

Shareholders' equity At September 30, 2013 and December 31, 2012 respectively, the Company's share capital consists of 578,479,962 (five hundred and seventy-eight million four hundred and seventy-nine thousand, nine hundred and sixty-two) and 702,510,969 (seven hundred and two million five hundred and ten thousand, nine hundred and sixty-nine) nominative common shares, with no par value and the authorized capital is 1.2 billion book-entered common shares with no par value. At September 30, 2013 the Company's share capital was R$ 4,532,274 (R$ 3,731,734 at December 31, 2012), consisting of common shares distributed as follows: September 30,2013 Shareholder Eike Fuhrken Batista Centennial Asset Mining Fund LLC (*) Centennial Asset Brazilian Equity Fund LLC (*) E.ON BNDESPAR Others 145,704,988 20,208,840 1,822,065 266,269,556 72,650,210 195,855,310 702,510,969 (*) Controlled by Eike Fuhrken Batista. % 20.7 2.9 0.3 37.9 10.3 27.9 100 December 31, 2012 289,705,431 20,208,840 1,822,065 67,869,516 59,823,537 138,812,343 578,241,732 % 50.1 3.5 0.3 11.7 10.4 24.0 100

The changes in the share capital up to the third quarter of 2013 have been summarized below: Date December/2012 January/2013 February/2013 April/2013 May/2013 August/2013 September 30, 2013 Quantity of shares 578,241,732 147,480 27,000 34,500 29,250 124,031,007 702,510,969 Capital (R$ thousand) 3,731,734 232 95 114 99 800,000 4,532,274 Description Opening balance Capital increase - company plan Capital increase - company plan Capital increase - company plan Capital increase - company plan Capital increase Closing balance

The Company's capital was increased in January 2013 by the Board of Directors' meeting held on 1/10/2013, ratifying the issuance of 147,480 new common shares, with no par value, resulting from the exercising of share options awarded under the Company's share options program. The number of Company shares accordingly changed to 578,389,212.

52 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

The Company's capital was increased in February 2013 by the Board of Directors' meeting held on 2/6/2013, ratifying the issuance of 27,000 new common shares, with no par value, resulting from the exercising of share options awarded under the Company's share options program. The number of Company shares accordingly changed to 578,416,212. The Company's capital was increased in April 2013 by the Board of Directors' meeting held on 4/5/2013, ratifying the issuance of 34,500 new common shares, with no par value, resulting from the exercising of share options awarded under the Company's share options program. The number of Company shares accordingly changed to 578,450,712. The Company's capital was increased in May 2013 by the Board of Directors' meeting held on 5/8/2013, ratifying the issuance of 29,250 new common shares, with no par value, resulting from the exercising of share options awarded under the Company's share options program. The number of Company shares accordingly changed to 578,479,962. On September 16, 2013 the Board of Directors' meeting ratified the Company's capital increase, as approved by the Board of Directors' meeting on July 3, 2013, of R$ 799,999,995.15, within the authorized capital limit, as a result of the subscription and full payment of the 124,031,007 new common registered shares with no par value. The number of Company shares accordingly rose from 578,479,962 to 702,510,969. 21 Income (loss) per share Basic and diluted earnings per share The basic and diluted earnings per share were calculated by dividing the earnings of the year attributable to the controlling and noncontrolling shareholders of the Company at September 30, 2013 and September 30, 2012 and the respective average number of common shares in circulation, as per the table below:
September 30, 2013 Common Basic and diluted numerator Loss attributable to controlling shareholders Basic and diluted denominator Weighted share average Loss per share (R$) - basic and diluted (662,181 ) 702,510,969 (0.9426 ) Total (662,181 ) 702,510,969 (0.9426 ) Common (212,676 ) 170,123,448 (1.2501 ) September 30, 2012 Total (212,676 ) 170,123,448 (1.2501 )

53 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

22

Share-based remuneration plan The Company's share options break down as follows: Parent company and consolidated September 30, 2013 Stock options granted - Shareholders' Equity Granted by Company Granted by Controlling shareholder 33,236 312,807 346,044 September 30, 2012 22,796 289,223 312,019

Parent company and consolidated September 30, 2013 Expenses incurred on share options awarded 24,140 September 30, 2012 37,394

The share option plans were released in two different modalities: the primary plan, which consists of awarding call options, resulting in the issuance of new shares by the Company or the assignment of treasury shares; and secondary plans consisting of options offered by the shareholder to Company executives, which in this case does not entail a dilution of the share capital. (a) Share options granted by the Company The Company awarded share option plans for its own share to beneficiaries providing services to it. The Extraordinary General Meeting held November 26, 2007 approved the Share Purchase Option Program, which was recorded in the minutes as an appendix. The same date share options were awarded to the Company's executives. The plan entailed the right to acquire 175,900 shares, following the share split on July 17, 2009, awarded to 5 participants in equal amounts, subject to the individuals remaining with the Company for 5 years in order to exercise all of their rights. The Options Program consists of the right to acquire a certain amount of Company shares, awarded to the program's beneficiary, at a given strike price per share - or purchase price per share - which has to be exercised in a period or by a deadline.

54 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

The plan's regulations state that the Company's Board of Directors should determine the amount of shares to be awarded, the strike prices, maturity terms and expiry dates of the rights. On the date the right is exercised, the shares sold to the plan beneficiary should be subscribed again or placed in treasury. The company's other shareholders do not have subscription rights to the shares allocated to the option plans. The Extraordinary General Meeting held December 7, 2007 approved the grouping of the Company's shares, by which 22 shares were grouped into 1 common share. The Extraordinary General Meeting held on July 17, 2009 subsequently approved the splitting of the Company shares, by which each common share on that date was split into 20 common shares. A further split was approved on August 15, 2012, whereby each common share was split into 3 common shares. These events led to an adjustment in the quantity and strike price of the options under the plans awarded. The minutes from the Extraordinary General Meeting held on September 28, 2010 documented the extension to the Company's share options program to December 31, 2015. Options were again awarded to executives on December 1, 2010, subject to the individuals remaining with the company for 7 years. The Extraordinary General Meeting held on April 26, 2011 approved the increase in the maximum percentage of shares that can be allocated to the Share Options Program, to 2% of the Company's total shares. The EGM held on January 26, 2012 updated the Plan's contract and new beneficiaries were included, although for a vesting date of November 24, 2011. On May 24, 2012 the split-off was approved to CCX Carvo da Colmbia S.A., which accounted for 20.69% of the Company's assets. Following the split-off the share value was reduced by the same proportion. To maintain the value of the options awarded, a discount was awarded on the strike price of options not exercised by the date the two companies were split off. A further 75,000 options were awarded on May 31, 2012. Three more batches were awarded in the 3rd quarter of 2012, totaling 165,000 options.

55 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

Ten blocks of options had therefore been awarded by June 30, 2013, segregated as follows (*):

Plan 1: 528,000 options awarded on November 26, 2007 Plan 2: 3,300,000 options on December 1, 2010 Plan 2.1: 30,000 options on April 27, 2012 - the second block of Plan 2 Plan 2.2: 60,000 options on June 2, 2012 - the third block of Plan 2 Plan 3: 2,098,500 options on November 24, 2011 Plan 3.1: 225,000 options on May 31, 2012 - the second block of Plan 3. Plan 3.2: 52,500 options on July 10, 2012 - the third block of Plan 3. Plan 3.3: 22,500 options on July 20, 2012 - the fourth block of Plan 3. Plan 3.4: 90,000 options on August 1, 2012 - fifth block of Plan 3. Plan 3.5: 3,000,000 options on December 13, 2012 - the sixth block of Plan 3

(*) amounts and strike prices after the split on August 15, 2012 and split-off of CCX. The table below denotes the general terms of the options awarded by the Company.
Date Awarded 11.26.2007 12.1.2010 04.27.2011 06.2.2012 11.24.2011 05.31.2012 07.10.2012 07.20.2012 08.1.2012 12.13.2012 Vesting period (years) 5 7 7 7 7 7 7 7 7 7 Initial date of maturity 11.26.2008 12.14.2011 04.27.2013 6.2.2013 11.24.2012 5.31.2013 7.10.2013 7.20.2013 8.1.2013 12.13.2013 Date rights expire 11.26.2013 12.14.2018 4.27.2020 6.2.2020 11.24.2019 5.31.2020 7.10.2020 7.20.2020 8.1.2020 12.13.2020 Original Amount Awarded (a) 528,000 3,300,000 30,000 60,000 2,098,500 225,000 52,500 22,500 90,000 3,000,000 9,406,500 Original Strike Price (a ) 0.76 2.97 4.13 2.97 4,07 4,73 3.91 4.13 4.23 4.53 Strike Price Restated by IPCA 3.71 4.46 3.19 5.68 5.53 4.20 4.44 4.53 4.71

Plan Plan 1 Plan 2 Plan 2.1 Plan 2.2 Plan 3 Plan 3.1 Plan 3.2 Plan 3.3 Plan 3.4 Plan 3.5

(a) Strike prices of the options restated by the IPCA price index. Amounts and strike prices after the split on August 15, 2012 and split-off of CCX.

56 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

The table below shows the changes in the options plan in the period.
Plan awarded by the Company - number of stock options Balance at June 30, 2013 Exercised Cancelled Awarded Expired Balance at September 30, 2013

Plan 1

Plan 2 2,709,000 (10,500 ) (205,500 )

Plan 2.1 24,000

Plan 2.2 54,000

Plan 3 1,977,750

Plan 3.1 225,000

Plan 3.2 52,500

Plan 3.3 22,500

Plan 3.4 90,000

Plan 3.5 3,000,000

2,493,000

24,000

54,000

1,977,750

225,000

52,500

22,500

90,000

3,000,000

To determine the fair value of the options the Merton model (1973) 1 was used, which is a variant of the Black & Scholes (1973)2 model which considers dividend payments. A number of assumptions were made for the model's entry variables. Like:

the share price at the measurement date the instrument's strike price the expected volatility expected dividends the instruments' term and risk-free interest rate.

To calculate the expected volatility the continuous returns from the price history of the share were used (based on the past volatility, adjusted for changes expected due to information publicly available). The time window for estimating the expected volatility was the same as the option's term, or the longest term available, when the trading history of the company's share was shorter than the expected term. The risk-free interest rate was based on public securities and interest rate curves published by BM&FBovespa. Service conditions and performance conditions outside the market inherent to the transactions are not taken into account when determining fair value.

MERTON, R. Theory of Rational Option Pricing. Bell Journal of Economics and Management Science, 4 (Spring 1973), 141-83 BLACK, F.; SCHOLES, M. The pricing of options and corporate liabilities. Journal of Political Economy, Chicago, v. 81, p. 637654, 1973
1 2

57 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

The table below shows the assumptions made to calculate the fair value of the options awarded by the Company:
Fair Value Assumptions Number of exercisable options (matured) Average outstanding term (years) Fair value of options awarded in R$ (a) Price of the share in R$ (b) Strike price of the options in R$ (c) Average expected volatility (per annum) (d) Risk-free interest rate (per annum) (e) Effects on net income in the period in R$ k Intrinsic value R$ k Plan 2 213,000 3.34 2.39 5.25 3.71 0.45 4.79% 829 3,843 Plan 2.1 3.26 2.20 5.25 4.46 0.43 5.02% 10 19 Plan 2.2 6,000 3.35 2.74 5.25 3.19 0.44 4.88% 27 111 Plan 3 147,150 3.91 1.73 5.25 5.68 0.46 5.09% 948 Plan 3.1 22,500 4.33 1.89 5.25 5.53 0.44 5.13% 87 Plan 3.2 5,250 4.44 2.39 5.25 4.20 0.44 5.06% 19 55 Plan 3.3 2,250 4.47 2.30 5.25 4.44 0.44 5.08% 9 18 Plan 3.4 9,000 4.50 2.27 5.25 4.53 0.44 5.11% 40 65 Plan 3.5 4.87 5.25 4.71 0.44 5.18% 1,794 1,630

(a) Calculation of the options' fair value based on the Merton model (1973) (b) The closing price of the share MPXE3 (c) Strike prices of the options restated by the IPCA price index. (d) To calculate the volatility of the share the continuous returns from the price history of the share MPXE3 were used. (e) Reference rate to adjust the SWAP contracts for the IPCA coupon disclosed by BM&FBOVESPA. (b) Stock options granted by the Shareholder The Plans awarded by the shareholder includes call options granted to executives of the Company. This plan is a means of remunerating and retaining managers and executives who the shareholder views as key players in the Company's success. These options do not generate any dilution for the other shareholders. There is no preapproved schedule for this plan, unlike the Company's plan. The shareholder awarded the plan to employees based on individually negotiated contracts. As is the case in the plan awarded by the Company, in order to receive each batch, employees must remain with the company until the respective maturity date. The table below shows the overall characteristics of the plan awarded by the shareholder.
Date awarded 4.28.2008 4.28.2008 Vesting period (years) 5 10 Initial date of maturity 12/13/2008 12/13/2008 Date rights expire 12.13.2013 12.13.2018 Original amount awarded 3,354,120 20,198,040 23,552,160 Original strike price 0.01 0.01

Plan Shareholder Shareholder

58 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

The table below consolidates the change in share options awarded by the shareholder to beneficiaries providing services to the Company; the plan did not change in the period:
Plan awarded by the Shareholder - number of share options Balance of options at June 30, 2013 Exercised Cancelled Awarded Expired Balance at September 30, 2013 Shareholder Plan 12,789,648

12,789,648

The table below shows the assumptions made to calculate the fair value of the options awarded by the Shareholder: Fair Value Assumptions Number of exercisable options (matured) Average outstanding term (years) Fair value of options awarded in R$ (a) Price of the share in R$ (b) Exercise price of the options in R$ Average expected volatility (per annum) (c) Risk-free interest rate (per annum) (d) Effects on net income in the period in R$ k Intrinsic value R$ k (a) Calculation of the options' fair value based on the Merton model (1973). (b) The closing price of the share MPXE3. (c) To calculate the volatility of the share the continuous returns from the price history of the share MPXE3 were used. (d) Reference rate to adjust the SWAP contracts for a fixed rate disclosed by BM&FBOVESPA. Shareholder Plan 2,690,628 2.38 5.14 5.25 0.01 46.83% 10.65% 5,474 67,018

59 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

23

Operating revenue The reconciliation between the gross revenue and the net revenue recorded in the statement of operations for the year is as follows: Consolidated September 30, 2013 Gross revenue Minus Sales taxes Total net revenue 1,010,169 (101,671 ) 908,498 September 30, 2012 31,929 (3,243 ) 28,686

The increase seen above was due to the commercial start-up of the plants Porto de Itaqui, MPX Pecm II and UTE Parnaba during the course of 2013. 24 Costs and expenses by nature
Parent Company September 30, 2013 Depreciation and amortization Personnel expenses Outsourced services Rental expenses Expenses incurred on share options awarded Provision for investment devaluation Provision for unsecured liabilities Provision for unavailability charges Other expenses Consumables CCC Incentive Electricity for resale (1,371 ) (21,146 ) (31,281 ) (4,039 ) (24,410 ) 3 (5,500 ) (4,201 ) September 30, 2012 (1,136 ) (13,319 ) (42,039 ) (6,203 ) (41,110 ) 2 (8,618 ) (5,782 ) September 30, 2013 (89,871 ) (62,866 ) (94,455 ) (117,519 ) (24,140 ) (23 ) (5,121 ) (113.723 ) (61.776 ) (404,731 ) 41,559 (235,048 ) (1,167,714 ) (1,034,758 ) (91,945 ) (118,205 ) (132,956 ) Consolidated September 30, 2012 (6,695 ) (36,454 ) (72,799 ) (10,711 ) (41,147 ) 2 (8,618 ) (11,792 ) (51,414 ) 43,671 (195,957 ) (23,834 ) ) (172,123

(91,455 ) Classified as Cost Administrative and general expenses, other revenue/expenses and share options granted

(118,205 )

The increase seen above was due to the commercial start-up of the plants Porto de Itaqui, MPX Pecm II and UTE Parnaba during the course of 2013.

60 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

25

Financial income The Company's financial income breaks down as follows:


Parent Company
September 30, 2013 September 30, 2012 September 30, 2013

Consolidated
September 30, 2012

Financial expenses Debt charges Monetary variance Loss on derivative transactions Debenture interest/cost Bank commissions / Financial consulting Others

(96,932 ) (20,612 ) (4,309 ) (482 ) (90.031 ) (104,318 ) (226,653 )

(30,173 ) (308 ) (302 ) (130,692 ) (14,253 ) (175,728 ) 51,267 2 2,474 62,600 4,440 120,783 (54,945 )

(231,755 ) (24,786 ) (1,507 ) (482 ) (102.576 ) (133,352 ) (391,882 ) 26,919 13,056 9,048 (426 ) 3,850 52,447 (339,435 )

(31,186 ) (9,138 ) (425.803 ) (130,692 ) (34,435 ) 631.254 62.282 21.251 399.572 62600 6.822 552.527 (78.727 )

Financial income Interest-earning bank deposits Monetary variance Gains (losses) on derivative transactions Fair value of debentures Others

53,719 11,157 9,048 (426 ) 901 74,399

Net financial result

(152,254 )

61 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

26

Commitments The main commitments undertaken with suppliers of goods and services are the following:
Contract balance Total contracted on September 30, 2013 144,144 121,315 13,592 20,161 30,000 Balance of contract at September 30, 2013 144,144 27,926 40 20,161 26,798 December 31, 2012 144,144 29,229 491 15,845 29,461 29,257 2,853 335 28,751 16,777 60,594 537,561 892 8,043 208 5,702 13,928 395 21,895 834 81,257 419 1,274 84,914 9,014 16,811 38,410 4,398 33,281 25,277 43,233 326,571 71,344 84,975 6,021 115,539 12,359 18,712 1,859 41,072 34,070 14,403

Company ITAQUI ITAQUI ITAQUI ITAQUI ITAQUI ITAQUI ITAQUI ITAQUI ITAQUI ITAQUI ITAQUI Parnaba Parnaba Parnaba Parnaba Amapari Amapari Amapari Amapari TAU Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I Porto do Pecem I UTE PARNABA II UTE PARNABA II UTE PARNABA II UTE PARNABA II UTE PARNABA II A PECM II PECM II PECM II PECM II PECM II PECM II ENEVA ENEVA ENEVA ENEVA COMERCIALIZADORA COMERCIALIZADORA Parnaiba III Parnaiba IV Parnaiba IV Parnaiba Part Wind PPTM

Supplier MABE Tecnometal Guimar Cargotec CEMEC Carbomil Other MCE Engenharia Other E ON GLOBAL COMMODITIES Other GE International DURO Felguera Other Other BT Latam Brasil Petrobras Petrobras Other MPX Comerc. de Energia Enerconsult Mabe Mabe/Semace Other Other CMC Other Cogerh Ipiranga Estre Ambiental CAGECE Other INITEC Energia S.A. Other Other CONEL CONSTRUCOES E ENGENHARIA LTDA Other LLX A Other Other SEMACE REX Other Other EBX HOLDING LTDA SERRADOR EMPREENDIMENTOS E PARTICIPACOES Other Other Other Other Wrtisil Wrtisil Alston/Sucesso Bertin CSRX PO&m

Subject matter of contract Construction of UTE-EPC Supply of coal conveyor transportation system Project Management Services Supply of ship unloading equipment Installation and assembly of the water intake system Supply of Burnt Lime Electrical Building Services Mechanical and Electrical/Instrumentation Service Constructing Administrative Building Supply of coal Other services GE Turbine Others Constructing Administrative Building Misc. Services Equipment rental and communications Debt acknowledgment of Diesel invoices Debt acknowledgment of Diesel invoices Others Purchase of energy Owner's engineering* Construction of UTE-EPC* Environmental compensation* Owner's engineering* Services Coal Lime Gross Water Diesel Oil Solid Waste Effluent Energy for sale EPC 2 Turbo generators Water disposal Construction of the well interconnection system Misc. Services Rental/Lease Transmission Line and Turbines Serv. Labor Environmental compensation** Operating Leasing Coal Services Rental of Saw Rental of Saw Serv. Other administrative Serv. Legal Sale of energy - Novelis*** Acquisition of energy - CPFL *** EPC agreement EPC agreement EPC agreement Call Option on Nova Venecia project Acquisition of wind farm OPERATION OF CONVEYOR BELT

Signature 1.27.2008 7.24.2009 9.21.2009 10.7.2009 5.11.2010 5.7.2010 Other 5.1.2012 Other 1.1.2013 Other 5.30.2011 5.30.2011 6.1.2011 Other 11.5.2009 8.28.2012 8.28.2012 Other Other 12.20.2007 1.27.2008 9.5.2008 Other Other 12.3.2010 Other 10.28.2010 8.1.2011 6.21.2011 11.10.2011 Other 8.15.2011 8.20.2012 8.1.2012 3.21.2013 Other 1.13.2010 Other Other 9.5.2008 1.1.2009 5.25.2012 Other 4.17.2012 6.1.2010 Other Other 9.8.2009 9.1.2009 3.28.2013 11.6.2012 1.28.2013 5.9.2012 7.30.2012 11.1.2011

Term Indefinite Indefinite 7.20.2014 7.6.2013 8.21.2012 7.6.2015 Other 11.12.2012 Other 3.31.2014 Other 1.18.2014 10.31.2013 5.31.2013 Other 5.4.2014 1.31.2013 Indefinite Other Other 2.20.2013 Indefinite Indefinite Other Indefinite Indefinite Other 4.30.2019 2.1.2013 5.21.2026 10.10.2031 Other 2.2.2014 12.19.2013 5.31.2013 9.20.2013 Other 1.13.2045 Other Other Indefinite 11.27.2042 12.31.2012 Other 4.16.2013 5.31.2015 Other indefinite 12.31.2013 12.31.2013 Indefinite Indefinite Indefinite 11.12.2012 indefinite 7.5.2014

53,483 83,700 40,407 143,746 387,883 19,550 594,145 861 13,928 1,916 13,981 1,316,981 5,948 12,039 166,750 58,679 16,975 44,601 33,281 31,281 94,310 61,424 90,759 11,035 37,080 134,620 50,923 64,178 6,350 45,283 17,765 68,866 29,486 22,584 91,132 6,989 1,149,002 1,052,328 13,569 108,452 17,504 30,700 11,583 345,000 6,930,269

22,459 74,407 7,654 11,392 58,350 3,594 323,540 111 13,928 1,068 458 26,361 357 602 70,763 9,014 16,059 38,720 33,281 28,280 86,247 9,920 52,140 6,219 12,324 113,752 2,951 19,635 2,762 400,006 16,938 36,660 29,486 # 9,337 # 38,832 # 1,424 # 873,698 782,713 12,890 33,114 14,814 8,583 231,515 3,755,427

13,110 1,205 142,378 182,854 97,893 12,500 8,100 2,470,446

(*) (**)

The figures presented include commitments undertaken by the subsidiary in conjunction with Pecm Gerao de Energia S.A, to an amount equal to the Company's percentage interest (50%). The environmental compensation amounts are being included as and when the construction costs are incurred.

(***) Refers to a purchase (CPFL) and sale (Novelis) of energy in the period 2011 to 2013 subject to fixed volumes and prices. These purchase and sale prices are not therefore subject to fluctuations in the energy sector. 62 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

27

Insurance coverage It is the policy of the Company and its direct and indirect subsidiaries to take out insurance coverage for the assets subject to risk at amounts considered by management sufficient to cover any incidents, considering the nature of their activity. The policies are in force and the premiums have been paid. The company considers its insurance coverage is consistent with other companies of similar size operating in the sector. As at September 30, 2013 and December 31, 2012, the main risks covered are: Consolidated September 30, 2013 Material damages Civil liability 11,983,048 219,239 December 31, 2012 7,289,587 567,253

28

Segment reporting Segment information should be prepared in accordance with CPC 22 (Segment reporting), equivalent of IFRS 8, and should be presented with respect to the Company and its subsidiaries' business that was identified based on its management structure and on internal management reporting, provided to the main manager for decision-taking purposes. Company Management makes its decisions based on four core business segments: energy generation, energy sales, supplies and corporate, which are subject to risks and remuneration managed by centralized decisions. The current activity is managed by a main manager, who allocates and evaluates the operational segment's performance. In the case of the Company, this manager is the CEO. As the ventures move forward, Management aims to re-evaluate business segments to provide the market with real and quantitative information.

63 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

Electricity Generation Balance sheet - assets Current Cash and cash equivalents Trade receivables Securities Inventory CCC subsidies receivable Gains on derivative transactions Secured deposits Other current assets Non-current Long-term Related-party transactions CCC subsidy receivable Deferred taxes Gains on derivative transactions Secured deposits Other non-current assets Investments Property, plant and equipment Intangible assets Deferred charges 6,462,559 197,056 3,802 7,577,754 433,701 53,717 235,820 93,330 18,724 30 32,081 7,144,053 7,464 24,617 283,721 152,458 12,377

Supplies 5,199 520 501

Corporate 4,331,718 337,230 302,324

Others 314 10 10

Eliminations and adjustments (1,107,815 )

Total consolidated 9,206,194 786,624 356,552 235,820 93,330 18,724 10,521 37 71,640

19 4,679

10,491 37 24,378 3,994,487 912,459 114,400 303 (1,107,815 ) (727,657 )

8,419,570 192,265 24,617 398,121 152,458 19,996 933,543

20

395,377 2,549,681

(387,779 )

612

19,827 2,744

303 15,470 (7,849 )

6,483,301 215,269

4,046

64 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

September 30 ,2013 Electricity Generation Balance Sheet - liabilities Current Loans and financing Trade payables Losses on derivative transactions Related-party transactions Debentures Other current liabilities Non-current Non-current liabilities Loans and financing Deferred taxes Related-party transactions Debentures Losses on derivative transactions Other non-current liabilities Noncontrolling shareholders Shareholders' equity 2,096,046 5,166 2,741,980 (187 ) 7,592,916 1,711,577 1,085,779 380,605 61 245,131 3,785,294 2,911,912 5,404 863,501 4,476 Eliminations and adjustments (2,723,953 ) (397 ) Total consolidated 9,206,193 3,170,392 2,527,847 384,195 (397 ) 7,617 61 250,672 3,202,666 3,023,412 5,404 151,403 5,155 17,291 110,033 2,723,102

Supplies 5,199 33 3 30

Corporate 4,331,718 1,458,679 1,442,068 3,587 7,433 61 5,531 131,058 111,500 705 5,155 13,698

Others 314 500 1 488 11

(713,686 )

(712,803 ) (883 ) 110,033 (2,119,903 )

September 30 ,2013 Electricity generation Statement of operations Net operating revenue Cost of goods and/or services sold Operating expenses Other operating results Equity in net results of subsidiaries Financial results Provision for current and deferred taxes Noncontrolling interest Net income/(loss) for the period (187,166 ) 86,755 890 (266,643 ) 185 (431 ) (662,182 ) (200 ) 267,274 25 908,498 (1,034,128 ) (41,500 ) 9 (632 ) (8 ) (87,148 ) (4,528 ) (418,252 ) (152,254 ) (40 ) (161 ) 379 266,895 908,498 (1,034,760 (128,817 ) (4,139 ) (151,357 ) (339,435 ) 86,755 1,073 (662,181 ) Eliminations and adjustments Total consolidated

Supplies

Corporate

Others

65 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

December 31, 2012 Electricity generation Balance sheet - assets Current Cash and cash equivalents Trade receivables Securities Inventory CCC subsidies receivable Gains on derivative transactions Secured deposits Other current assets Non-current Long-term Related-party transactions CCC subsidies receivable Deferred taxes Gains on derivative transactions Secured deposits Other non-current assets Investments Property, plant and equipment Intangible assets Deferred charges 5,550,640 196,846 4,918 4,046 416 6,563,847 533,146 312,468 21,345 3,441 142,687 17,561 35,644 6,030,701 7,463 24,617 191,148 32,999 22,070 20 Spin-off / transfers Eliminations and adjustments (2,171,772) (2,040) Total consolidated 8,039,596 765,908 519,277 21,345 3,441 142,687 17,561 3,018 35 58,544 7,273,688 142,852 24,617 305,548 135,648 45,433 833,955 5,570,399 15,470 (8,964 ) December 31, 2012 Electricity Generation Balance Sheet - liabilities Current Loans and financing Trade payables Losses on derivative transactions Related-party transactions Debentures Other current liabilities Non-current Non-current liabilities Loans and financing Deferred taxes Related-party transactions Debentures Losses on derivative transactions Other non-current liabilities Noncontrolling shareholders Shareholders' equity 1,907,342 5,016 2,569,592 6,563,848 1,173,710 895,622 111,411 22,951 33,797 109,929 3,482,796 3,002,631 2,048 378,945 94,797 4,375 Spin-off / transfers Eliminations and adjustments (2,171,774 ) (11,612 ) Total consolidated 8,039,596 2,109,465 1,819,974 115,261 22,951 30,772 111 120,396 3,228,993 3,104,806 2,048 430 4,954 94,797 21,958 151,538 2,549,600 215,236

Supplies 5,040 558 546

Corporate 3,642,481 234,244 206,263

Others

12 4,482

3,018 35 24,928 3,408,237 523,474 114,400 102,649 430,344 2,215,107 19,343 2,920

(2,040 ) (2,169,732 ) (388,085 )

(407,001 ) (1,381,152 )

Supplies 5,041 25 1 24

Corporate 3,642,481 947,342 924,352 3,849 6,523 111 12,507 125,547 102,175

Others

(9,572 ) (2,040 ) (379,350 )

(378,515 ) 4,954 18,418 (835 ) 151,538 (1,932,350 )

66 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

September 30, 2012 Electricity generation Statement of operations Net operating revenue Cost of goods and /or services sold Operating expenses Other operating results Equity in net results of subsidiaries Financial results Provision for currend and deferred taxes Noncontrolling interest Net income/(loss) for the period (46.134 ) 15.269 (1.248 ) (55.390 ) 150 (349 ) (299.371 ) (5.147 ) 60.885 19 28.686 (19.294 ) (33.124 ) 456 (501 ) (17 ) (109.590 ) (8.615 ) (137.806 ) (54.944 ) 11.585 (4.000 ) (21.297 ) 64 (2.208 ) 22.333 60.885 89.571 (23.835 ) (164.027 ) (8.096 ) (140.013 ) (78.726 ) 26.853 (1.098 ) (299.371 ) Spin-off/ transfers Eliminations and adjustments Total consolidated

Supplies

Corporate

Others

Geographic data The four segments described above are located in three different geographical areas, as summarized below:

North and North-east System

The North and North-east System consists of the plants of Porto do Itaqui Gerao de Energia S.A., Porto do Pecm Gerao de Energia S.A., MPX Porto do Pecm II Gerao de Energia S.A., UTE Parnaba Gerao de Energia S.A., UTE Parnaba II Gerao de Energia S.A., UTE Parnaba III Gerao de Energia S.A., UTE Parnaba IV Gerao de Energia S.A., UTE Parnaba V Gerao de Energia S.A., MPX Tau Energia Solar Ltda., MPX Tau II Energia Solar Ltda. and Amapari Energia S.A. The coal-fired Porto do Itaqui thermal power plant is located in the proximity of Porto de Itaqui, in the State of Maranho. It has an energy generation capacity of 360 MW and has energy sale orders from 2012. The pulverized coal-fired power plants Porto do Pecm Gerao de Energia S.A. and MPX Pecm II Gerao de Energia S.A. are located in the region of Porto do Pecm, in the State of Cear, with installed capacity of 720 MW and 360 MW respectively.

67 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

MPX Tau and MPX Tau II are also located in the State of Cear, and are solar energy generation companies with an environmental license for the joint generation of 5 MW each, where two 1-MW plants have already been built. Amapari, an Independent Energy Producer (PIE) in the insulated system, is a diesel fuel thermal power plant located in the municipality of Serra do Navio, in the State of Amap, with an installed capacity of 23 MW. The Parnaba complex, a natural gas thermal power plant, is strategically located in block PN-T-68 of the Parnaba Basin, in the State of Maranho. The venture has been licensed by the Maranho State environment Department (SEMA) and has a forecast total capacity of 3,722 MW. The five UTE Parnaba companies are located in this complex.

South - South-east System

The Seival Sul mine, located in the municipality of Candiota, in the State of Rio Grande do Sul, has proven reserves of 152 million tons of coal. The thermoelectric ventures of MPX Sul and UTE Seival are going to be built in this area. These power plants will have an installed capacity of 727 MW and 600 MW respectively, and will guarantee the supply of fuel for 30 years by integrating with the Seival Sul mine. 29 Subsequent events On October 18, 2013 Eneva S.A. announced that the thermoelectric power plant Pecm II ("Pecm II" or "Venture"), with an installed capacity of 365 MW, received a license from the National Electricity Regulatory Agency (Aneel) to begin commercial operations. The Venture is now remunerated in accordance with the terms of the regulated energy sale agreement (CCEAR) procured at energy auction A-5 in 2008. The CCEAR has a 15-year term and guaranteed fixed annual revenue of R$ 269.2 million (as of November 2012) indexed to the IPCA (Broad Consumer Prices Index - IBGE) and variable revenue intended to cover costs (fuel, operations and maintenance) incurred when the plant is dispatched by the National Operator of the Electric System (ONS). Pecm II synchronized with the National Interconnected Grid (SIN) on June 2, 2013 and concluded all the electricity tests required by ONS on June 29. The venture has been on standby since then, waiting for the construction to be completed of the new Pecm II substation, which is the responsibility of Chesf/TDG S.A. In August ANEEL determined the start-up of the Pecm II CCEAR be delayed from July 1, 2013 until commercial start-up of the substation. Following completion of the substation, on October 15 Pecm II synchronized again with SIN. On October 22, 2013 Usina Termeltrica Parnaba III ("Parnaba III" or "Venture") was licensed by the National Electricity Regulatory Agency (Aneel) to commence commercial operations of the first turbine with an installed capacity of 169 MW. The Venture is now remunerated in accordance with the terms of the regulated energy sale agreement (CCEAR) procured at energy auction A-5 in 2008. Parnaba III synchronized with the National Interconnected Grid (SIN) on October 14, and achieved nominal capacity the same day. Following the start-up of the first generating plant of Parnaba III, the Parnaba thermal power generation facility has achieved an installed operational capacity of 845 MW and natural gas consumption of 5.5 million m/day. 68 of 69

Eneva S.A.
(Publicly-held company) Notes to the quarterly information at September 30, 2013
All amounts in thousands of reaisunless otherwise stated

Pursuant to Article 157 (4) of Law 6404/76 and CVM Directive 358/02, on October 28, 2013 the company announced it had entered into an option agreement with the creditors of OGX Maranho S.A. ("OGX-M") by which these banks were entitled to sell to ENEVA 66.7% of the shares issued by OGX-M for the price of R$ 200,000,000.00, subject to certain precedent conditions, in the event the guarantees were foreclosed by the creditor banks and/or security agent. These shares are subject to the terms of the Private Agreement for the Fiduciary Disposal of Shares entered into on May 30, 2012 under the financing contracts of OGX-M. The sale option agreement can be exercised from February 19, 2014 and is subject to the approval of the transaction by CADE and ANP and the availability of credit facilities. ENEVA will maintain its shareholders and the market posted about any developments in this matter.

Board of Directors Jorgen Kildahl (CEO) Keith Plowman Stein Dale Eliezer Batista da Silva Luiz do Amaral de Frana Pereira Ricardo Ramos Adriano Castello Branco Gonalves Executive Board Eduardo Karrer (CEO and Investor Relations Officer) Alexandre Americano Accountant Ana Paula Vergetti Diniz CRC 087040/O-9

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