Corporate Presentation

1. Corporate
Presentation
April 2019
1

2. 2 1) On April 5, 2019; 2) Considering CPFL’s stake on each generation project.
Company Overview
 One of the largest private players in the Brazilian electricity sector
 Market Cap of R$ 30.0 billion1, listed on B3’s Novo Mercado
and on NYSE (ADR Level III)
 In 2018, EBITDA of R$ 5,637 million and Net Income of R$ 2,166 million
 Presence concentrated in the most developed regions of Brazil
 2nd largest player in the Distribution segment, through
4 distributors, and a market share of 14%
 3rd largest private generator with 3,272 MW2 of installed capacity,
of which 95% from renewable sources
 Leader in Renewable Energy in Brazil, with the largest
installed capacity in operation
 Outstanding performance in the Commercialization
segment with free consumers, focusing
on special consumers

3. 33 1) 51.54% stake of the availability of power and energy of Serra da Mesa HPP, regarding the Power Purchase Agreement between CPFL Geração and Furnas; 2) RGE is controlled by
CPFL Energia (89.0107%) and by CPFL Brasil (10.9893%).
Company Profile
Lajeado HPP
5.94%
Nect / Authi
CPFL Centrais
Geradoras
DISTRIBUTION
100%
SERVICES
100%
RENEWABLES
51.56%
65% 48.72% 51%
25.01%
Serra da Mesa
HPP
51.54%1
53.34%
GENERATION
100%
COMMERCIALIZATION
100%
Commercialization,
Services & Others
152
CPFL Energia - Consolidated | 5,637
2018 EBITDA Breakdown | R$ million Concession’s expiration
2045
CPFL Santa
Cruz
Free Float
5.25%
53%
23%
21%
3%
Conventional
Generation
1,272
Distribution
3,004
Renewable
Generation
1,209
94.75%
2
CPFL GD
2027 2028 2032 2035 2036
CPFL
Paulista
CPFL
Piratininga
Luis Eduardo
Magalhães
HPP
Campos
Novos HPP
Foz do
Chapecó HPP
RGE
Serra da
Mesa HPP2
Barra
Grande HPP
Castro Alves
HPP
Monte Claro
HPP
14 de Julho
HPP
48.39%

4. 43%
37%
14%
6%
29% 37%
16%
17%
Distribution Segment
• 9.6 million customers
• 687 municipalities
• Presence in the most developed regions
• High potential in per capita consumption
• Market Size: 67.2 TWh/year
2st
Market share: 14%
Industrial
Commercial
Residential
Others
1) Source: EPE.4
CPFL
Santa Cruz
CPFL
Piratininga
RGE
2018 EBITDA
Breakdown
R$ million
CPFL
Paulista
Tariff Review Comparison by Region1 |
Sales in the concession area |
20185th
Tariff Review Cycle
CPFL Piratininga Oct-19
CPFL Santa Cruz Mar-21
CPFL Paulista Apr-23
New RGE Jun-23
2018 Sales
Breakdown
GWh

5. 55
Generation Segment
• 3,272 MW of installed capacity
• 1,532 avgMW of physical guarantee
• Long Term Concessions
• Largest portfolio in Renewable Energy
• Renewable Sources: 95%
3rd
Market share: 2% Installed Capacity | %
• Contracted portfolio in the long term with
low risk exposure
• Agreements average price: R$ 227/MWh
Contract Profile
61%
5%
7%
6%
21%
HPP
TPP
SHPP
BIO
WIND
Contracting Level | %
Total: 3,272 MW
2019 2020 2021 2022 2023
100% 99% 94% 94% 92%
1.2% 5.8% 6.0% 8.4%
Contract Energy Available Energy

6. 1998 2004 2005 2007 2001 2008 2008 2010 2010-11
1,275.0 130.0 690.0 880.0 902.5 130.0 100.0 855.0 341.6
637.5 56.1 372.7 379.7 505.1 61.8 47.5 427.2 247.6
51.54% 65.00% 25.01% 48.72% 4.15% 65.00% 65.00% 51.00% 53.34%
657.1 84.5 172.6 428.7 37.5 84.5 65.0 436.1 182.2
328.6 36.5 93.2 185.0 21.0 40.2 30.9 217.9 132.1
1.784 1.4 95.0 32.9 630 5.0 5.0 80.0 -
0.7 92.9 7.3 26.7 1.4 26.0 20.0 10.7 -
2039 2036 2036 2035 2032 2036 2036 2036 2042
Conventional Generation | 2,173 MW of installed capacity
CPFL Energia’s Power Plants – state-of-the-art environmental efficiency
6

7. (MW)
CPFL Renováveis (Aug-11) 652
2Q12 25 Free Market
2Q12 70 Reserve Auction
2Q12 155 PROINFA
3Q12 188 Reserve Auction
4Q12 40 Auction and Free Market
4Q12 1 Free Market
4Q12 20 Alternative Sources Auction
3Q13 50 Free Market
4Q13 30 Reserve Auction
4Q13 50 Free Market
1Q14 14 PROINFA
1Q14 120 Alternative Sources Auction
2Q14 78 Alternative Sources Auction
3Q14 278 -
2Q15 29 Reserve Auction
2Q16 24 Free Market
4Q161 231 Free Market
2Q17 48 Alternative Sources Auction
4Q18 30 Alternative Sources Auction
Current Portfolio 2,133
CPFL Renováveis | Track Record
Installed Capacity of 2,133 MW
7 1) Gradual commercial start-up since 2Q16.

8. Boa Vista II SHPP | Commercial Start-up
8
1) The energy generated will be injected into the system and sold on the free Market until the beginning of the energy sales agreement in Jan-20; the beginning of the construction of
this SHPP was in Feb-17; 2) Constant currency (Dec-18); 3) 14.0 average-MW of energy contracted in the 2015 A-5 Auction.
Commercial
Start-up
Installed
Capacity
Physical Guarantee PPA2
Location Financing
Nov-18 29.9 MW
15.2
average-MW3
21st LEN 2015
R$ 240.47/MWh
until 2049
Minas Gerais BNDES
CPFL Renováveis
anticipated in more
than 1 year the
commercial start-up1

9. Commercial
start-up in
2024(e)
97.3 MW
of installed
capacity
Renewable Generation | Greenfield projects
9
1) Constant currency (Dec-18); 2) It comprises the following wind farms: Costa das Dunas, Figueira Branca, Farol de Touros and Gameleira; 3) 12.0 average-MW of energy contracted in
the 2018 A-6 Auction; the remaining energy was sold in the free market.
Cherobim SHPP Gameleira Wind Complex2
Commercial Start-up 2024 2024
Installed Capacity 28.0 MW 69.3 MW
Physical Guarantee 16.6 average-MW 39.4 average-MW3
PPA
28th LEN 2018
R$ 189.95/MWh1 until 2053
28th LEN 2018
R$ 89.89/MWh1 until 2043
Financing To be structured To be structured
2018
A-6 Auction
Winner
2018
A-6 Auction
Winner
Photo: Mata Velha SHPP Photo: Pedra Cheirosa Wind Complex

10. Transmission Auctions in 2018
10
Auction of Dec 20Auction of Jun 28
• Transmission Auction nr. 04/2018
• CPFL Geração won the Lots 5 and 11 -
substations and transmission lines in Santa
Catarina and in Rio Grande do Sul,
respectively
• Lot 5 (SC) - main characteristics:
 Construction term:
 Contracted RAP:
 Investment estimated by Aneel:
• Lot 11 (RS) - main characteristics:
 Construction term:
 Contracted RAP:
 Investment estimated by ANEEL:
• Transmission Auction nr. 02/2018
• CPFL Geração won the Lot 9 - Maracanaú -
State of Ceará
• Main characteristics of the project:
 Construction term:
 Contracted RAP:
 Investment estimated by Aneel:

11. CPFL Soluções & ENVO | Commercialization and Services
11
Launch: 2018
Foundation:
2003
New brand was launched to meet the strategic
decision to bring customers energy solutions
through the products offered under the brands
CPFL Brasil, CPFL Serviços and CPFL Eficiência.
Acting throughout Brazil.
The solutions go through:
• Energy commercialization
• Energy efficiency
• Distributed generation
• Energy infrastructure
• Power management
 1,562 free customers, of which 1,440 special
customers (Jan-19)
 Special customer market: current ~ 4.3 avgGW
 Free customer market: current ~ 12.7 avgGW
Commercialization and
power management
Foundation:
2013
Energy efficiency,
distributed generation
Brand
launch:
2017
Distributed generation
for residential customers
and small businesses
Foundation:
2006
Energy infrastructure in
transmission and distribution,
maintenance and recovery of
equipment
 Start of operations with self-production, passing
through air conditioning, cogeneration and
distributed generation
 90 customers served in 2018
 R$ 33.4 MM invested in projects with customers,
in 2018
 275 transmission contracts in 2018, being:
 127 contracts for works on transmission
lines/substations
 148 O&M contracts
 Acting in the state of São Paulo
 Commercialized more than 1.6 Mwp in
photovoltaic energy in 2018
 More than 150 thousand people impacted monthly
by the disclosure actions

12. CPFL Atende & CPFL Total
12
 Foundation: 2012
 With expertise in offering financial products, CPFL
Total enables the operation of contracted partners
that use energy bills as a means of payment for
transactional operations.
 Among the main products offered by the company are
the collection of services in energy bills, such as mass
insurance, discount cards, courses, health plans, dental
plans, various services, among others.
 Recently it also initiated the agency of advertisers
to advertise on the back of the energy bill or
electronic media of the CPFL Group.
 20 million people in 9 million residences and 687
municipalities
- 42 partners companies
- 10 million collection
- R$ 210 million - fin. vol. captured/passed on
 Foundation: 2008
 Contact center and customer relationship
company, created to provide services both for
companies within our group and for other
companies. Among these services provided
are:
 Back office services
 Credit recovery
 Toll free customer support
 Ombudsman services
 Service Desks
 Sales
20182018
- 8.6 million phone calls received
- 8.2 million phone calls answered
- 38 million speaking time minutes

13. CPFL Energia Strategy
13
• Be the leader in operating
efficiency by investing in
technology, automation and
innovation
• Act on both institutional and
regulatory fronts to ensure
sustainability of the sector
• Offer integrated portfolio,
adding technical and financial
solutions to increase the
competitiveness of our customers
• Search for new distribution
channels, products and markets
for the supply of distributed
generation in retail
• Operating Efficiency with
Innovation & Technology
• Act in both institutional and
regulatory levels
• Strategic growth with value
creation
Distribution
Generation, Transmission
and Renewable
Solutions
• To us, safety is a nonnegotiable commitment
• Our strength comes from collaboration among
people
• We innovate to deliver the best solutions to our
customers
• We strive to evolve always in the pursuit of
excellence
• We are ethical and responsible in all we do to
deliver sustainable results

14. Energy Sales - Distribution | TWh
1414 1) EBITDA is calculated from the sum of net income, taxes, financial result, depreciation/amortization, as CVM Instruction no. 527/12.
CPFL Energia | Operational and Financial figures
Key Financial Figures | R$ million
2013 2014 2015 2016 2017 2018
CAGR
2013-2018
2018 vs. 2017
TOTAL 58.5 60.0 57.6 57.0 65.6 67.2 2.8% 2.5%
Captive 41.1 43.2 41.7 41.3 45.4 45.6 2.1% 0.5%
TUSD 17.3 16.8 15.8 15.7 20.2 21.6 4.5% 7.0%
2013 2014 2015 2016 2017 2018
CAGR
2013-2018
2018 vs. 2017
NET REVENUE 14,634 17,306 20,599 19,112 26,745 28,137 14.0% 5.2%
Distribution 11,568 13,665 16,968 15,040 21,077 22,467 14.2% 6.6%
Generation 1,943 2,437 2,582 2,676 3,149 3,081 9.7% -2.2%
Trading & Services 2,031 2,498 2,143 2,487 3,900 4,029 14.7% 3.3%
EBITDA¹ 3,547 3,761 4,143 4,126 4,864 5,637 9.7% 15.9%
Distribution 2,115 2,180 2,144 1,845 2,234 3,004 7.3% 34.5%
Generation 1,378 1,343 1,894 2,103 2,421 2,481 12.5% 2.5%
Trading & Services 74 263 134 241 258 192 20.9% -25.8%
NET INCOME 949 886 875 879 1,243 2,166 17.9% 74.2%
Distribution 853 948 626 407 665 1,432 10.9% 115.5%
Generation 261 48- 226 364 674 889 27.8% 31.9%
Trading & Services 52 168 87 166 145 96 13.2% -33.8%

15. 1515
Indebtedness | Financial Covenants Management
 Leverage l Financial covenants criteria | R$ billion
 Gross debt cost3 l IFRS | end of period  Gross debt breakdown by
indexer3 | IFRS | 2018
1) LTM EBITDA; 2) Adjusted by the proportional consolidation; 3) Financial debt (-) hedge.
Adjusted EBITDA1,2
R$ million
Adjusted Net Debt1
/Adjusted EBITDA2
2014 2015 2016 2017 1Q18 2Q18 3Q18 4Q18
13.0 12.2
13.2
14.5
15.6 15.7 15.5 16.3
3.49 3.41
3.21 3.20 3.31
3.11
2.92 3.05
3,736 3,584 4,117 4,531 4,708 5,041 5,306 5,342
Nominal
Real

16. 1616
1) Constant currency; 2) Investment plan disclosed in 4Q18/2018 Earnings Release, in March 2019; 3) Disregard investments in Special Obligations on Distribution
segment (among other items financed by consumers); 4) Conventional + Renewable.
Capex(e)1,2 2019-2023 | R$ Million
Total:
R$ 11,938 million
Distribution3:
R$ 10,094 million
Generation4:
R$ 1,028 million
Trading & Services:
R$ 175 million
Transmission:
R$ 642 million
2,066
2,174
2,565
2,447 2,410
2,341

17. 1717
Distribution | Grouping of RGE and RGE Sul
381
municipalities
182.904 km²
of concession
area
4,386 km of
transmission
network
2.9 million
clients
19,629 GWh
sales within
the concession
area
151.899 km of
distribution
network

18. Annex
18

19. Energy Sector in Brazil: Business segments
Consumers
1) Source: ANEEL/BIG - Dec-18; 2) Source: EPE; 3) Source: CCEE; 4) Source: EPE - Oct-17-Sep-18 (consumption of electricity in the grid).
Free Market
Captive Market
12,185 Consumers3
155 TWh of billed energy4
80 MM Consumers2
316 TWh of billed energy4
Transmission
• 141,576 km of
transmission lines2
• Eletrobrás: ~51%
of total line
extension
Distribution
• 55 Companies
• 471 TWh of billed
energy4
• Top 5: ~58% of
the market
Competitive Power Supply
Generation
• 162.9 GW of
installed capacity1
• 82% Renewable
Energy2
• Eletrobrás: ~30%
of total assets
19

20. Brazilian electricity matrix
1) Source: 10-Year Energy Expansion Plan - PDE 2017-2026; 2) Others: considers coal, oil, diesel and process gas
Brazil’s electricity matrix is predominantly renewable, with hydro installed capacity totaling 61% of the
total supply, while biomass, wind, SHPPs and solar account for 16%. In the next years, it is expected that
other sources will grow, mainly wind and solar, reaching 9% and 2% respectively of total installed
capacity in 2026.
Brazilian Electricity Matrix
148 GW 176 GW
2017 2026
20
Wind
 Potential: 350 GW3
 Instal. capacity: 3.8 GW
3%
SHPP
 Potential: 17.5 GW
 Instal. capacity: 5.8 GW
33%
Biomass  Potential: 17.2GW
 Instal. capacity: 12.9 GW
75%
Potential Realized
Potential to be Explored in Brazil
Evolution of Installed Capacity (GW) 2017-20261

21. Sustainability at CPFL: Incorporation of strategic guidelines
21
SUSTAINABILITY
PLATFORM
Built in 2014 with the objectives of
defining the relevant themes to
the sustainability strategy
business and managing our
performance on these issues
through indicators and targets.
Currently part of the CPFL
Energia's Strategic Plan,
incorporates the United Nations
Sustainable Development Goals
(SDGs) and is made up of
indicators, monitored monthly,
with goals for the short and
medium term linked to the
variable remuneration of
executives.
• We provide sustainable, accessible and reliable energy to all walks of life, and enhance
a safer, healthier and prosperous life of people in regions where we operate.
• We propel our business growth in a more strategic and competitive way, keep its
dynamics and vitality, and create a more standardized, diversified and international
corporate culture, while nurturing its legacy.
• We protect the level playing field for each employee’s growth and attract all talents to
join CPFL.
• We pursue to be the leading power utility in South
America that supplies reliable electric energy and
credible services.
• We pledge to forge the prolonged strength in
developing business and innovation as well as
culture.
• To us, safety is a nonnegotiable commitment
• Our strength comes from collaboration among people
• We innovate to deliver the best solutions to our customers
• We strive to evolve always in the pursuit of excellence
• We are ethical and responsible in all we do to deliver sustainable results
MISSION
VISION
VALUES

22. CPFL Energia | Sustainability
Actions and Results 2018/2019 Recognitions 2018/2019
Assistance
until 1999
Social
Responsibility
2000 to 2006
Increasingly comprehensive responsibility concept
Level of
incorporation
of Sustainability
theme
Note 1: Brazilian Association of Electric Energy Distributors recognized, in the category above 500 thousand consumers, RGE as the best Distributor of the South and RGE Sul for Best Evaluation
by the Client and, in the category up to 500 thousand consumers, CPFL Santa Cruz as Best in Social and Environmental Responsibility | Note 2: Finalist of the Award (disclosure of results in
December / 2018) | Note 3: Greenhouse Gases
Corporate Sustainability
Added to business from 2007
• ABRADEE 2018 Award1, categories
Socio-Environmental Responsibility,
Customer Evaluation and South Region
• Cases recognized in SDG in Brazil -
The role of the private sector (NY)
and SDG Brazil Award2
• ECO Brasil Award - companies that
adopt the best practices for
sustainable business development in
the country
• Among the leaders in the CDP
Supplier Engagement 2018 and
Transparency on strategy and
information related to climate change
and GHG emissions3
22
More information: Annual Report
Sustainable Business
Focus on low-carbon
from 2011
Advocacy and strengthening commitments related to the
Sustainable Development Goals (SDG), and acting in
management and incentive to the carbon market
Sustainability Platform Matrix structure, with value drivers
(material topics) and key business stakeholders, resulting in 13
levers, 58 indicators and targets monitored in 2018