Energias do Brasil reported third quarter 2006 results. Distributed energy volume grew 3.6% year-over-year. EBITDA declined 6.9% due to non-recurring effects in 2006 and 2005. Generation increased significantly due to the conclusion of the Peixe Angical project. Financial performance was positive with net income declining 15.7% and net debt/EBITDA ratio improving. The company also provided updates on projects, costs, debt, and capex.

1. Conference Call
3Q06 Earnings Results
António Martins da Costa
CEO
Antonio José Sellare
CFO
Vasco Barcellos
Investor Relations Officer
October 26, 2006

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. Distribution
Energy Distributed Volume (GWh)
3.6%
17,283 17,910
2,336 2,312
3.1% 6,045
5,690
5,794 5,972
737 756
1,915 2,017 9,257 9,553
3,143 3,199
3Q05 3Q06 9M05 9M06
Bandeirante Escelsa Enersul
EBITDA (R$ MM)
-6.9%
631
587
53% • Distributed volume: growth between 2006 and 2005
254
166
• Higher participation of free customers
3Q05 3Q06 9M05 9M06
Losses * • Non-recurring effects in 2006 and 2005
13.2% 12.8% 13.1%
12.6%
4.1% 3.9% 3.8% 4.1% • Quarterly EBITDA: normalized growth of 29%
8.5% 9.3% 9.0% 9.0%
• Efficiency programs in progress
Jun 2005 Mar 2006 Jun 2006 Sep 2006
Tec hnic al
* Average of the last 12 months
Commerc ial
• Tariff readjustment and RAB revision at Bandeirante
3

4. Generation
Energy Produced Volume (GWh)
16.2% UHE Peixe Angical UHE Mascarenhas
2,435
2,097
87.1%
950
507
3Q05 3Q06 9M05 9M06
EBITDA (R$ MM)
149.5%
185
59.1%
84 74
53
3Q05 3Q06
Project in Progress (MW)
9M05 9M06
• Peixe Angical: project concluded in Sep/06
30 1,073
25
452 50 1,018
4Q06 2008
55
• Mascarenhas’ 4th Engine: start-up on Oct. 03, 2006
Expected
516 Conclusion
1,018 • Santa Fé construction start-up : pending licence
2005 Peixe 4th engi- Current PCH
Angi- ne Mas- São
PCH
Santa
Total • Growth strategy: new energy auctions and
cal carenhas João Fé acquisitions
Legends: Concluded Projects Projects in Progress
4

5. Commercialization
Energy Commercialized Volume (GWh)
9.5%
5,132
4,688
972
8.0% 1,977
1,629 53.4%
1,509 4,160
223 2,711
579 51.2%
930 1,406
3Q05 3Q06 9M05 9M06
Others Energias do Brasil´s discos
Number of Customers
67.5%
67
40
• Lower self-dealing: offset by growth in the free market
3Q05 3Q06
EBITDA (R$ MM)
-23.5%
• New website: closer to the customers
46
-4.8%
35 • Risks: clear policy for commercial and energy risks
8.0 7.6
• Free market: developed
3Q05 3Q06 9M05 9M06
5

6. Financial Performance
Net Revenues (R$ MM) EBITDA (R$ MM)
1.2% 9.2%
3,283 3,322 784
718
10% 4%
9% 6%
3% 9% 69.6%
10% 23%
3.8%
339
1,101 1,143
88% 81% 200 2%
9% 10% 24% 84% 73%
10% 4%
6%
23%
85% 80% 74%
73%
3Q05 3Q06 9M05 9M06 3Q05 3Q06 9M05 9M06
Distribution Generation Commercialization Distribution Generation Commercialization
Net Income (R$ MM) Net Debt/EBITDA *
-15.7%
284 3.0x
239
2.3x
1.9x 2.0x
108.7%
114
55
3Q05 3Q06 9M05 9M06 Dec/04 Dec/05 Jun/06 Sep/06
* EBITDA of the last 12 months
6

7. Operating Expenditures
Costs and Manageable Expenses
Costs and Expenses Breakdown1 – 3Q06 Breakdown
R$ million 3Q06 3Q05 Var.%
Personnel 67 67 -0.1%
Non- Material 8 8 0.4%
manageable Manageable
costs Costs Third-party 74 65 13.8%
R$624 million R$179 million Provisions 15 15 -0.9%
(78%) (22%)
Others 16 44 -63.4%
Total 179 198 -9.5%
R$803 million
Manageable Costs (Corporate Programs)
- Program to Contain Losses – R$ 4.0 million
- Consultancy – R$ 1.9 million
Note:
1 Excludes depreciation and amortization
7

8. Debt and Capex
Net Debt (R$ MM) Gross Debt Index Breakdown
Sep/06
(458) 3%
(725)
32%
3,180
1,997 1,923
61%
4%
Gross Debt (-) Cash and (-) Regulatory Net Debt Net Debt
Sep.06 Marktable Assets Sep.06 Jun.06 US$ TJLP
Securities
Fixed Rate Floating Rates*
* Includes Selic, CDI, IGP-M and INPC
Capex* – does not include LFA “Light for All” Program (LFA)
(R$ MM)
577 2007 Capex* (estimated) 177
Distribution: ~R$ 400 million
212 412 125
Generation: ~R$ 100 million
165
LFA: from R$150 to R$ 200 million
365
247
2006 (E) 9M06 2006 (E) 9M06
Distribution Generation
* Does not include interests and/or new projetcs
8

9. Vanguard Project
RP - Trend in the capture of accumulated Productivity (Customer/Employee)
annualized savings (R$MM/year)*
68.4
168% 97%
93%
40.8 1,220
60.0 1,071 990
28.8 890 890
19.2
17.2 35.6
776 762
24.8
654 585
17.2 502
14.8 456 462
2.4 2.0 4.0 5.2 8.4
Jun/06 Accomplished Dec/06 Jun/07 Dec/07
till Sep/06
Indirect Personnel Cost (Estimated) Direct Personnel Cost (Estimated)
Indirect Personnel Cost (Accomplished) Direct Personnel Cost (Accomplished) Bandeirante Escelsa Enersul
* 2006 figures 1998 2001 2005 3Q06
Information Technology Projects
Schedule
2005 2006 2007 2008
SIT-Brasil
Integration
9

10. Awards and Recognitions
2005 Best Listed Honorable #1 Corp. Governance
Finalist
Company Mention Listed Company
Volume
R$ th.
190 70,000
180
60,000
170 +61%
160 50,000
150
+61%
40,000
140 +60%
30,000
130
120
+55%
20,000
110
10,000
100
90 0
7/12/2005 8/16/2005 9/21/2005 10/27/2005 12/5/2005 1/10/2006 2/15/2006 3/24/2006 5/3/2006 6/7/2006 7/13/2006 8/17/2006 9/22/2006
Volume R$ ENBR3 ENBR3 Ibovespa IEE IBX
Updated until October 24, 2006
10

11. Conference Call
3Q06 Earnings Results
www.energiasdobrasil.com.br