1. September 2007

2. Disclaimer
This presentation may include forward-looking statements of future events or results according to regulations
of the Brazilian and international securities and exchange commissions. These statements are based on
certain assumptions and analysis by the company that reflect its experience, the economic environment and
future market conditions and expected events, many of which are beyond the control of the company.
Important factors that may lead to significant differences between the actual results and the statements of
expectations about future events or results include the company’s business strategy, Brazilian and
international economic conditions, technology, financial strategy, public service industry developments,
hydrological conditions, financial market conditions, uncertainty of the results of future operations, plans,
objectives, expectations and intentions, among others. Considering these factors, the actual results of the
company may be significantly different from those shown or implicit in the statement of expectations about
future events or results.
The information and opinions contained in this presentation should not be understood as a recommendation
to potential investors and no investment decision is to be based on the veracity, current events or
completeness of this information or these opinions. No advisors to the company or parties related to them or
their representatives shall have any responsibility for whatever losses that may result from the use or contents
of this presentation.
This material includes forward-looking statements subject to risks and uncertainties, which are based on
current expectations and projections about future events and trends that may affect the company’s business.
These statements include projections of economic growth and energy demand and supply, as well as
information about the competitive position, the regulatory environment, potential opportunities for growth and
other matters. Several factors may adversely affect the estimates and assumptions on which these
statements are based.
2

3. Geographical Presence
█ In 2006, Energias do Brasil distributed 24 TWh to 3.1 million customers
█ In 1H07, total installed capacity reached 1,043 MW
LAJEADO PLANT PEIXE ANGICAL PLANT
ENERSUL • Installed capacity: 250 MW • Installed capacity: 452 MW
(adjusted for Energias do
• Distrib. energy: 3,126 GWh Brasil’s stake)
• Customers: 695 thousand
• Municipalities: 73
• Concession area: 328,316 Km²
• N. inhabitants: 2.1 million
CESA and ENERGEST
• Installed capacity: 294.1 MW
PANTANAL ENERGÉTICA • To be constructed: 29.0 MW
• Installed capacity: 31.2 MW
ESCELSA
• Distrib. energy : 8,060 GWh
• Customers: 1,076 thousand
BANDEIRANTE • Municipalities: 70
COSTA RICA • Concession area: 41,241 Km2
• Distrib. energy: 12,763 GWh • N. inhabitants: 3.2 million
• Customers: 1,352 thousand
• Installed capacity: 16.5 MW
Generation • Municipalities: 28
• Concession area: 9,644 Km2
Distribution
• N. inhabitants: 4.4 million
3

4. Current Organizational Structure
EDP Group Market
62.4% 37.6%
27.65% 1 60% 100% 100% 100% 100%
Peixe
Lajeado Energest2 Enertrade Bandeirante Enersul
Angical
100% 51% 100% 100%
Pantanal
CESA2 Costa Rica Escelsa
Energética3
Generation Commercialization Distribution
Legend
% of the Total Capital
Notes:
1 Voting capital, also represents the percentage of installed capacity allocated to Energias do Brasil. Energias do Brasil holds 23.05% of its total capital
2 Includes Escelsa’s generation assets
3 Includes Enersul’s generation assets
4

5. Corporate Governance
Board of Directors
5 members appointed by controlling 2 members
shareholder, including Chairman of appointed by 2 independent
the Board (CEO and CFO are also minority members
members of the Board) shareholders
Board Committees
Corporate
Governance
Audit Supervisory Compensation
and
Sustainability
Chair: Independent Chair: Chairman of the Chair: Chairman of the Chair: Independent
Board Board
Composition
1 Apptd. by Minority CEO 1 Independent 1 Apptd. by Minority
1 Apptd. by Controlling CFO 1 Apptd. by Controlling 1 Apptd. by Controlling
5

6. Distribution

7. Distribution Assets
7

8. Operating Performance
Volume of Energy Distributed Energy Distributed by Customer Class
(GWh) (% of Total Volume Distributed)
+3.8% +3.8%
23,061 23,948 23,061 23,948
1%
3,126 1%
3,108
30% 36%
8,060 +4.0% +4.0%
7,639
11,938 12,411 11,938 12,411
1,635 2% 1%
1,556
36% 37%
4,028 4,234 69% 62%
12,315 12,763
62% 62%
6,354 6,543
2005 2006 1H06 1H07 2005 2006 1H06 1H07
Bandeirante Escelsa Enersul End Customers Energy in Transit Other
8

9. Market Profile
Volume – 1H07
Bandeirante Enersul Escelsa Energias do Brasil
(GWh) (GWh) (GWh) (GWh)
6,542.6 1,635.0 4,233.7 12,411.3
20% 13% 18% 21%
29%
39% 36%
42%
24% 12%
22% 18%
14% 12%
7% 12% 20% 12% 13%
16%
Residential Industrial Commercial Rural and other Energy in transit
9

10. Market Profile
Revenues – 1H07
Bandeirante Enersul Escelsa Energias do Brasil*
(R$ MM) (R$ MM) (R$ MM) (R$ MM)
1,224.8 518.3 787.2 2,526.8
5% 12%
13% 16%
8% 35% 21% 33% 35%
38% 13%
16%
18%
24% 20%
26% 12% 19% 16%
20%
Residential Industrial Commercial Rural and other Energy in transit
Note: Data in R$ refers to Revenue net of ICMS Tax, RTE, Own Consumption and ECE/EAE, but including Low Income.
* Only the Distribution Business is considered
10

11. Efficiency Indicators
DEC (hours) FEC (x)
Bandeirante Escelsa Enersul Bandeirante Escelsa Enersul
13.6 13.8 10.4
12.0 9.9 10.0
11.8 11.0 8.7 9.2
9.2 8.8 10.1 9.1
8.3 8.1 6.6 6.0 6.3 6.2 6.2
7.8 5.5 5.4
2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07
TMA (minutes) Productivity (‘000 clients / employee)
Bandeirante Escelsa Enersul Bandeirante Escelsa Enersul
187
172 1.29 1.24
160 155
139 144 1.07 1.07 1.06 1.06
119 112 0.90 0.93 0.780.92
112 103 120 0.89
98 0.76
2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07 2005 2006 1H06 1H07
11

12. Project Vanguarda
█ Organizational structure implemented before IPO allowed capture of
synergies among Bandeirante, Escelsa and Enersul
Vanguarda Phase 1
– Establishment of standard policies and
procedures among 3 companies
– Reduction in personnel: Voluntary Dismissal
Program
Capture • Cost fully booked in june/06: R$ 52 million
of • Estimated reduction in personnel after
Synergies conclusion: 16%
Vanguarda Phase 2
– Development of standard IT
platforms
– Redesign of critical processes
(Lean methodology)
12

13. Curbing Losses
█ In 1H07, R$ 38 million were invested in actions aimed at cutting down
commercial losses (R$ 13 million in Opex and R$ 25 million in Capex).
Commercial losses (% of energy distributed - last 12 months)
Bandeirante Escelsa Enersul EDB
7.8  ~ 330k inspections in 1H07
6.0 5.9 6.6
5.0 5.4  ~ 148k frauds identified
4.1 3.8 4.2
2.2 2.3 2.4  ~ R$ 17 MM in revenues recovered
 ~ 700k inspections scheduled for 2007
Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun
05 06 07 05 06 07 05 06 07 05 06 07
Delinquency (%)
Bandeirante Escelsa Enersul
2.52 2.42
 Bandeirante’s delinquency rate in
1.88 1H07 affected by R$ 11.7 MM provision
1.28 1.40 1.21 1.31 1.13 for non-transfer of revenue by
0.95
collection agent
Jun Jun Jun Jun Jun Jun Jun Jun Jun
05 06 07 05 06 07 05 06 07
13

14. Capex
Capex Breakdown* (R$ MM)
466
2007 E
376 149
323 130 Grid Expansion
116
58 Grid Modernization
122 153
132 22 Automation, Telecom and IT
92
66 Actions to curb losses
164
109 128
78 Vanguarda Project
2005 2006 2007E 114 Other
466 TOTAL
Bandeirante Escelsa Enersul
•Excludes Capex for Universalization Program.
14

15. “Luz Para Todos” Program
█ In 1H07, R$ 26 million were invested in the “Luz Para Todos” Program
Investments in the LPT Program – 2007E New connections
(R$ MM) (*units until August 17, 2007)
11,908
55.5 11,000
10% 46.3
8,534
15% 10%
9,860
15% 6,717
35% 4,008
5,479 3,852
65% 4,000
2,300
2,048 3,399
2,684
40% 858
461
431
10%
Escelsa Enersul 2004 2005 2006 2007* 2007E 2008E
CDE RGR Own resources State Gov. Bandeirante Escelsa Enersul
Note: Bandeirante – LPT Program concluded in 1H07.
Total investment in 2007 was R$ 3.5 million.
15

16. Tariff Readjustment Mechanism
Sectorial
Energy Purchases Transmission Costs
Taxes
Parcel A (non-manageable costs)
Net Gross
Rate of Depreciation Reference
Regulatory x Regulatory x Company
Asset Base Return Asset Base Rate
Efficient
Return on Investment Regulatory Depreciation Operating Costs
Parcel B (manageable costs)
16

17. Tariff Review Process
EFFICIENCY
Supply Charges
GAINS
T1
T2
T3
X=0; infl. =0 X>0; infl. =0 Time
Review 1 Review 2
17

18. Escelsa’s Tariff Review
Breakdown of Tariff Readjustment Index - August 2007
-2.59% Energy Purchase
Parcel
-1.40% Sectorial Taxes A
Tariff -0.89% Transmission Charges
Realignment
Rate -1.07% Return on Investment
-6.92% Parcel
-0.74% Assets Reinstatement
B
Average tariff
readjustment 0.08% Reference Company
-9.62% -0.31% Other Revenues
Variation in
Accounts of 4.76% Financial Adjustments
Financial Nature
-7.46% 2006 Financial Adjustments to be excluded
-2.70%
X Factor = 1.45%
18

19. Bandeirante’s Tariff Review
Preliminary Figures
Gross RAB R$ 2,694 MM
Net RAB R$ 1,287 MM
Model Company R$ 237 MM Average tariff
readjustment
Delinquency R$ 12 MM
-11.97%
Regulatory Depreciation 4.62%
Required Revenue* R$ 1,976 MM
X Factor: -1.51%
• Net of Other Revenues
19

20. Generation

21. Installed Capacity
Lajeado
Peixe Angical Installed capacity and Assured Energy
+452MW * (MW / Average MW)
Suiça
1,018 1,043
Alegre
Jucu
631 645
Mimoso Fruteiras
516
São João I Paraíso 334
São João II
Viçosa
Coxim
Rio Bonito
Costa Rica
São João
2005 2006 2007E
Corumbá +25MW **
Mascarenhas Installed Capacity Assured Energy
4th Engine
* Capacity added in 2006
** Startup of operations in 1Q07 +50MW *
21

22. Operating Performance
Volume of Energy Produced Volume of Energy Sold
(GWh) (GWh)
+101.8%
4,747
+42.6%
3,929
+29.3%
+62.1%
2,756 2,655
2,409 2,352
2,053
1,486
2005 2006 1H06 1H07 2005 2006 1H06 1H07
22

23. Contracting Schedule
Energy Available for Sale
(Average MW)
151
130
Average Price
R$ 81.4/MWh
(2Q07)
83
45
11 11 11 11 11
2008 2009 2010 2011 2012 2013 2014 2015 2016
23

24. Growth Opportunities
█ Construction to start upon granting of Installation License:
– PCH Santa Fé: +29 MW (startup estimated for 2009)
– Estimated capex: R$ 120 MM
█ Power upgrades: + 50 MW
– Approved by ANEEL: +25 MW
– Under Study: +25 MW
█ Coal-fired thermal plants in partnership with MPX Mineração e
Energia: + 525 MW (50% of each of the following projects)
– UTE Maranhão: + 350 MW
– UTE Pecém: + 700 MW
– Estimated capex: 50% of US$ 1.9 bi
█ Small Hydro Plants (PCHs): + 438 MW
– Projects expected to be concluded and presented to ANEEL in
1Q08: +212 MW
– Projects expected to be concluded and presented to ANEEL in mid
2008: +226 MW
– Estimated capex: R$ 100 – 120 MM / plant
█ Feasibility Studies for 7 medium sized hydro power plants:
+590 MW
24

25. Commercialization

26. Energy Prices
Short-term Price Outlook
(R$ / MWh)
300
250
200
150
100
50
Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07
History CCEE official
Note: January 2002 price affected by energy rationing
26

27. Operating Performance
Volume of Energy Commercialized Number of Large Customers
(GWh) (Units)
Enertrade’s
Market Share as
+5.1% of Jun 07: 8.24%
+1.6%
6,379 6,702 64
+20.9% 63
1,193
52
2,567 +3.1% 43
3,503 3,612
749 581
5,509
3,812
2,754 3,031
2005 2006 1H06 1H07 2005 2006 1H06 1H07
Others ENBR Companies
27

28. 1H07: Financial Performance

29. Financial Performance
Distribution
Net Revenues Ebitda
(R$ MM) +3.5% (R$ MM)
+1.8%
801 829
4,071 4,146
21%
20% 35% +36.3%
21%
+19.5% 454
33%
30% 31% 2,025 30% 333 24%
1,695 25%
21% 34%
21% 31%
31% 46%
49% 49% 31% 34%
44% 42%
48% 48%
2005 2006 1H06 1H07 2005 2006 1H06 1H07
Net Income
-7.9% (R$ MM)
361
332
15%
45%
+123%
42% 174
22%
43%
78 37%
43% 14%
44% 41%
11% 42%
2005 2006 1H06 1H07
Bandeirante Escelsa Enersul
29

30. Financial Performance
Generation
Net Revenues Ebitda
(R$ MM) +170%
(R$ MM)
+165%
458 273
25% +91.5%
21%
+38.4% 193
268 17%
173 51% 194 17%
101 46%
101
24% 56%
52% 33%
55% 51%
44% 25%
28% 29% 26%
45% 31% 31% 49% 41%
2005 2006 1H06 1H07 2005 2006 1H06 1H07
Net Income
(R$ MM)
+0.8%
130 131
19% +56.6%
85
41% 15%
87%
54
19% 40%
30%
40% 45%
13% 50%
2005 2006 1H06 1H07
Energest Enerpeixe EDP Lajeado
30

31. Financial Performance
Commercialization
Net Revenues Ebitda
(R$ MM) (R$ MM)
+14.9% -93.7%
495
431 54
+18.2%
-12.6%
298
252 28
24
3
2005 2006 1H06 1H07 2005 2006 1H06 1H07
Net Income
(R$ MM)
-81.0%
48
-15.2%
21
18
9
2005 2006 1H06 1H07
31

32. EBITDA 1H07 x 1H06
Ebitda
(R$ MM)
19
118
650
(13)
(29)
109
444 2
June/06 Enertrade Generation Distribution Accounting Contingencies Bad June/07
and other debt
op.
expenses
23.4% EBITDA Margin 28.6%
32

33. Expenses
Expenses Breakdown – 1H07 Breakdown of Manageable Expenses
(R$ MM)
st
Manageable Expenses 1 Half
Chg.%
R$ million 2007 2006 Chg.
Personnel 155.9 197.4 -41.5 -21.0%
1,149.4 471.7
Material 19.7 19.9 -0.3 -1.3%
(71%) (29%)
Third-party services 163.3 136.0 27.3 20.0%
Provisions 78.5 37.0 41.5 112.1%
Other 54.3 40.1 14.3 35.6%
Total 471.7 430.4 41.2 9.6%
1,621.1
Provisions
+ R$ 30.5 MM: allowance for bad debt (including R$
11.7 MM due to the non-transfer of revenues from a
Non-manageable expenses collection agent and R$ 6.0 MM in receivables from
Manageable expenses Ampla)
Note: Depreciation and amortization were excluded
+ R$ 11.0 MM: civil and labor contingencies
33

34. Financial Result
█ The decrease in financial revenues reflects mainly the reduction in the
return on regulatory assets due to the fall in SELIC interest rate
R$ million 1H07 1H06 Chg.%
Financial Revenues 119.3 137.5 -13%
Financial Expenses (189.3) (188.8) 0%
Net FX Result (28.9) (34.5) -16%
Net Result from Swap Operations (77.9) (73.4) 6%
FX gains (loss) 49.1 38.9 26%
TOTAL (98.9) (85.8) 15%
34

35. Indebtedness
Indebtedness – 1H07 Total Debt Index (Jun/07)
(Net Debt Evolution - R$ MM) 2% 5%
Floating rates ***
Average Long Term Basic
3,012 Interest Rate (TJLP)
Cost of Debt 34%
2Q07: 11.3% 59%
Short US$
Term (698)
726
Fixed rate
(425)
*** Includes Selic, CDI, IGP-M and INPC
Long
Term Net Debt / Ebitda
1,889
2,286 1,850 (Jun/07)
2,345
1,879 1,889
1,702 1,850
3.0
Gross Debt (-) Cash (-) Regulatory Net Debt Net Debt
Jun/07 and Assets and Jun/07 Mar/07 1.9 1.8
Marketable Liabilities 1.6 1.5
Securities *
2004 2005 2006 Mar/07 Jun/07
* Includes R$ 5.5 million of deposits related to debt with BNDES
** Ratio: Net Debt / EBITDA 12 months Net Debt (R$ MM) Net Debt / Ebitda (x) **
35

36. Debt Maturity Schedule
Jun/07 vs Jul/07*
█ Escelsa: Debentures Issuance in Jul/07
– R$250 Million Decrease in short-term debt
– Term: 7 years Extension of average term
– Interest and Principal grace period: 5 years
Decrease in average cost
– Rate: 105% of CDI
Debt Maturity Schedule
(R$ MM)
As of June 30, 2007 After Debentures issuance and Senior Notes repayment
698
583
529 512 529 512
491 491
307 307
262
220 241
179 207
158
124 131 131
Cash 2007 2008 2009 2010 2011 2012 2013 2014 After 2014 2007 2008 2009 2010 2011 2012 2013 2014 After 2014
Jun/07
* Debentures issuance was concluded on July, 2007
36

37. Capex
Capex Breakdown*
(R$ MM)
658
592
192
217
192
466
375 19
173
2006 2007E 1H07
Distribution Generation
* Does not include Universalization Program
37

38. Stock Performance in 2007
Market Capitalization: R$ 5.7 billion
(ENBR3 x Indexes Performance)*
140
130 ENBR3 = 8.5%
120
IBOV = 21.8%
110
IEE = 21.9%
100
90 IBX = 21.5%
80
12/28/2006 1/22/2007 2/16/2007 3/13/2007 4/7/2007 5/2/2007 5/27/2007 6/21/2007 7/16/2007
* Updated until July 31, 2007
Daily Average Volume
(R$ MM)
15.4 13.8
13.5
8.3 10.4
7.2
5.5
Jan 07 Feb 07 Mar 07 Apr 07 May 07 Jun 07 Jul 07
38

39. September 2007
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