2. 2
Disclaimer
The stand-alone and consolidated financial statements were prepared in accordance with the accounting
principles adopted in Brazil, which include corporation law, the pronouncements, instructions and
interpretations issued by the Accounting Pronouncements Committee (CPC) and the regulations of the
Securities and Exchange Commission of Brazil (CVM), combined with specific legislation issued by the
National Electric Power Agency (ANEEL). As the industry regulator, ANEEL has powers to regulate the
concessions. The results are usually presented in both IFRS and former formats in order to permit
comparisons with other periods. However, the results presented in “Regulatory” format are not audited.
ALUPAR uses the audited results based on the IFRS principles to declare dividends.
The forward-looking statements contained in this document relating to the business outlook, projections of
operational and financial results and the growth prospects of ALUPAR are merely projections, and as such
are based exclusively on management’s expectations for the future of the business. These expectations
depend materially on changes in market conditions and the performance of the Brazilian economy, the
sector and international markets and therefore are subject to change without prior notice.
According to the Offering Commencement Notice published on April 23, 2013, the Company carried out a
public offering for the distribution of Units. Because we are undergoing a stabilization process and
because we did not publish an Offering Conclusion Notice, we are in the quiet period, and the conference
call is being organized solely for the presentation of our 1Q13. results.
3. 3
RS
SC
PR
SP
MG
GO
MT
AC
AM
RR
RO
BA
PI
MA
PA
AP
TO
CE RN
PE
AL
SE
MS
RJ
ES
DF
PB
Colômbia
Brasil
Chile
Alupar at a Glance
Alupar is the only listed company in Brazil operating in transmission and generation segments
Geographic Footprint of the Assets
Operational Under construction
Portfolio of 27 long-term
concessions, starting to expire
in 2030 (transmission) and
2034 (generation)
Transmission
Generation
Begin Concession End
2000
2001
2001
2002
2002
2004
2004
2005
2005
2004
2006
2007
2005
2008
2009
2010
2010
2009
2012
2012
2004
2004
2006
2006
2010
2011
2012
2030
2031
2031
2032
2032
2034
2034
2035
2035
2034
2036
2037
2038
2039
2040
2040
2039
2042
2042
2034
2034
2041
2041
2047
TypeAsset
Alupar Concession – Transmission and Generation
Today
Lifetime
Lifetime
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Transmission
Generation
Generation
Generation
Generation
Generation
Generation
Generation
Transchile
Operating Under Construction
2045
4. 4
Alupar is a holding Company with a portfolio of 27 long-term concessions
V 50.01%
T 35.01%
100%
50.01%V 50.02%
T 50.02%
V 100%
T 50.01%
70.02%
V 50.01%
T 35.01%
99.70%
41.00%
41.00%
41.00%
Transminas
Lavrinhas
45.01%
51.00%
V 50.02%
T 50.02%
51.00%
80.00%15.00% 80.00% 20.00%
Transirapé
Transleste
Rio Claro
Ijuí
Queluz
STC
EBTE
Transudeste
Lumitrans
ETES
50.01%
V 100%
T 50.01%
STN ENTEEATE
ECTE
ERTE
ETEP
ETEM
62.06%
ETVG
ESDE Ferreira Gomes
100%
TNE
51.00%
Risaralda
99.86%
100%
ETSE
100%
46.00%
TME
51.00%
Energia dos Ventos
51.00%
Transmission
Generation
Under Construction
Transchile
Company’s Assets
TBE
TBE
TBE
TBE
TBE TBE TBE
TBE TBE
TBE
TBE TBE group’s assets
5. 5
Successful Track-Record
Transmission lines Extension (Km) Generation capacity (MW)
24%
CAGR
02A-12A
46%
CAGR
10A-16E
0
576
1.500
1.679
2.293
2.834
3.285 3.392 3.392
3.592
4.950 4.950 4.950 4.950
5.665 5.665
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
68
179 179 179 179
459
663
Since 2000, Alupar is one of the main transmission bidding winner, with 22.6% of all auctioned lines, in terms of RAP. It is
also one of the companies with the fastest growth in generation segment.
Financial Discipline and focus on value creation
Technical Know-how and engineering
Develops all project phases: since conception,
construction, start-up and operation
6. 6
Alupar’s Business Culture
Financial Discipline
Responsible and Sustainable Growth
Efficient Capital Structure
Corporate Governance and Transparency
Skilled and Motivated Team
7. 7
Material Fact – 28th March, 2013
Credit Rating upgraded by Fitch Rating Services
From AA (bra) to AA+ (bra) with stable perspective
“The upgrade reflects the sustainable growth of Alupar business and its ability to manage its consolidated
financial profile, in line with the new rating classification, even considering the Company’s growth
prospect for next 2 years. The moderate consolidated financial leverage to be achieved it is consistent
with the low risk profile of its business, which it is characterized by foreseeable operating cash
generation... ...The Company’s capacity to develop projects and turn them into operational assets was
also considered in the rating upgrade”
Free translation from Fitch Rating Report – available at Alupar’s IR website
Alupar – Corporate AA+(bra)
Alupar – Corporate (Brazilian National Scale) Aa2.br
Alupar – Corporate (Global Scale) Ba1
Moody’s Investors Service
8. 8
Notice to the Market – 9th, may 2013
Transirapé reinforcement authorization
Concession
Extension
50% RAP
Reduction
RAP RBNI
New
RAP + RBNIGrant End
March - 2005 March - 2035 65 Km Yes R$ 16.8 mm R$ 5.5 mm R$ 22.1mm
Line Characteristic
9. 9
Notice to the Market – 9th May, 2013
SHPP Morro Azul (Colombia) change in Environmental License
SHPP
Effective
Installed
Capacity
Average
Generation
Morro Azul 16 MW 84,096MWh
Morro Azul Project Characteristics
RS
MT
AC
AM
RR
RO
PA
MS
Colômbia
Chile
SHPPs
Effective
Installed
Capacity
Average
Generation
Morro Azul 19.9 MW 120,947MWh
Morro Azul Project Characteristics
OLD NEW
10. 10
0,00
10,00
20,00
30,00
40,00
50,00
60,00
70,00
80,00
90,00
Jan Fev Mar Abr Mai Jun Jul Ago Set Out Nov Dez
2011 2012 2013
Energy Price Hike
0
50
100
150
200
250
300
350
400
450
jan/10
abr/10
jul/10
out/10
jan/11
abr/11
jul/11
out/11
jan/12
abr/12
jul/12
out/12
jan/13
abr/13
SE/CO Regions Reservoirs - %
Energy Spot Prices – R$