Rio de Janeiro, August 10, 2012 BM&FBOVESPA: LIGT3 OTC: LGSXY Total shares: 203,934,060 shares Free Float:

97,629,463 shares (47.87%) Market Cap (08/09/12): R$5,235 million IR Contacts Joo Batista Zolini Carneiro CFO and IRO Gustavo Werneck IR Manager Tel: +55 (21) 2211-2828 Fax: +55 (21) 2211-2787 www.light.com.br E-mail: ri@light.com.br Conference Call Date: 08/13/2012 Time: 4:00 p.m. (Brazil) 3:00 p.m. (US ET) Phone numbers: Brazil: +55 (11) 4688-6361 USA: +1 (888) 700 0802 Other countries: +1 (786) 924 6977 Simultaneous translation into English Webcast: www.light.com.br (Portuguese and English)

EBITDA reaches R$690 million and net income totals R$180 million in 1H12
Total energy consumption in 2Q12 was 1.5% higher than in 2Q11, totaling 5,754 GWh, driven by the 8.4% increase in commercial consumption; In the quarter, consolidated net revenue, excluding revenue from construction, came to R$1,635.7 million, 12.1% up on 2Q11. All the Companys business segments recorded a revenue upturn, led by generation, which increased by 48.3%;1 Consolidated EBITDA amounted to R$255.8 million in 2Q12, 6.2% up on 2Q11, fueled by the excellent performance of the generation segment, with an EBITDA margin of 15.6%, versus 16.5% in 2Q11; Net income totaled R$39.8 million, 12.3% down on the R$45.3 million reported in 2Q11, chiefly due to the increase in the net financial expense; Collections came to 98.2% of billed consumption in the last twelve months, 0.7 p.p. more than in June 2011. Non-technical energy losses closed the quarter at 42.3% of billed energy in the low-voltage market (ANEEL criterion), 1.0 p.p. up on March 2012, impacted by the change in the treatment of clients with long-term default; The Company closed 2Q12 with net debt of R$3,516.6 million, 2.3% up on March 2012. The net debt/EBITDA ratio stood at 2.8x.
Operational Highlights (GWh) Grid Load* Billed Energy - Captive Market Consumption in the concession area Transported Energy - TUSD Sold Energy - Generation Commercializated Energy (Esco) Financial Highlights (R$ MN) Net Revenue** EBITDA EBITDA Margin** Net Income Net Debt***
* Captive market + losses + netw ork use ** Does not consider construction revenue *** Financial Debt - Cash
1 1

2Q12 8.600 4.916 5.754 837 1.298 381 1.636 256 15,6% 40 3.517

2Q11 8.335 4.880 5.669 789 1.345 456 1.459 241 16,5% 45 2.549

Var. % 3,2% 0,7% 1,5% 6,2% -3,5% - 16,3% 12,1% 6,2% - 12,3% 37,9%

1H12 18.283 10.295 11.934 1.639 2.819 776 3.403 690 20,3% 180 3.517

1H11 18.191 10.413 11.960 1.547 2.829 763 3.146 676 21,5% 212 2.549

Var. % 0,5% -1,1% -0,2% 6,0% -0,3% 1,7% 8,1% 2,0% -15,0% 37,9%

To preserve comparability with the market approved by ANEEL in the tariff adjustment process, the billed energy of the free consumer CSN was excluded, in view of this clients then planned migration to the core network. Energy consumption by CSN totaled 407 GWh in 2Q12 and 367 GWh in 2Q11.

Table of Contents Operating Performance................................................................................... 4 Distribution ................................................................................................ 4 Energy Balance ..................................................................................... 7 Energy Losses ....................................................................................... 8 Energy Losses ....................................................................................... 8 Communities ........................................................................................ 9 Collection ............................................................................................10 Operating Quality .................................................................................11 Generation ................................................................................................12 Commercialization and Services ...................................................................12 Financial Performance ...................................................................................13 Net Revenue .............................................................................................13 Consolidated ........................................................................................13 Distribution .........................................................................................14 Generation ..........................................................................................14 Commercialization and Services .............................................................14 Costs and Expenses ...................................................................................15 Consolidated ........................................................................................15 Distribution .........................................................................................15 Generation ..........................................................................................17 Commercialization and Services .............................................................18 EBITDA.....................................................................................................18 Consolidated ........................................................................................18 Distribution .........................................................................................19 Generation ..........................................................................................20 Commercialization and Services .............................................................20 Consolidated Financial Result ......................................................................21 Indebtedness ............................................................................................22 Net Income ...............................................................................................24 Capital Expenditures ..................................................................................25 Generation Capacity Expansion Projects ..................................................25 Cash Flow .................................................................................................28 Corporate Governance ..................................................................................29 Capital Market ..............................................................................................31 Dividends .................................................................................................32 Recent Events ..............................................................................................33 Disclosure Program .......................................................................................34

Release Segmentation Light S.A. is a holding company that controls subsidiaries and affiliated companies in three main business segments: electricity distribution, electricity generation and electricity

commercialization/services. To increase the transparency of its results and to provide investors with a better basis for evaluation, Light also presents its results by business segment. The Companys organizational chart in June 2012 is presented below:

Light S.A. (Holding)

100% Light Servios de Eletricidade S.A.

100% Light Energia S.A.

51% Lightger S.A.

100% Itaocara Energia Ltda.

25.5% Amaznia Energia S.A.

100% Light Esco Prestao de Servios S.A.

100% Lightcom

100%

100% Instituto Light

51%

20% CR Zongshen E-Power

Fabricadora de Veculos Ltda.

Comercializadora

de Energia S.A.

Light Solues em Eletricidade Ltda.

Axxiom Solues Tecnolgicas S.A.

Renova Energia S.A.

25.82%

Central Elica Fontainha Ltda.

100%

Central Elica So Judas TadeuLtda. 100%

Norte Energia S.A.

9.77%

EBL Cia. de Eficincia Energtica S.A

33%

Distribution

Generation

Commercialization and Service

Institutional

System

Electric Vehicles

TOTAL ENERGY CONSUMPTION (GWh) (CAPTIVE + FREE) - QUARTER

1.5%

-3.6% 8.4%

5,669 789

5,754 837

2,043

1,969 -1.8% 1,000 574 426 982 609 373

1,866 1,721 167 180 905 1,554 1,685 48 857

3.5% 937 48 889 4,880 4,916

2Q11

2Q12

2Q11

2Q12

2Q11

2Q12

2Q11

2Q12 Others

2Q11

2Q12 Total

Residential

Industrial

Com m ercial

Captive

Free

Operating Performance
Distribution Total energy consumption in Light SESAs concession area (captive clients + transport of free clients2) came to 5,754 GWh in 2Q12, 1.5% up on 2Q11, chiefly due to the increase in commercial consumption. If consumption of the free client CSN is taken into account, total consumption came to 6,161 GWh in 2Q12, versus 6,036 GWh in 2Q11. Residential consumption totaled 1,969 GWh in the quarter, accounting for 34.2% of the total, 3.6% down on 2Q11, chiefly due to two combined effects: (i) the termination of clients with long-term default, and (ii) the reclassification of house and apartment buildings complex from the residential to the commercial segment pursuant to an ANEEL resolution. Excluding these effects, residential consumption increased by 0.5%. The number of billed residential clients fell by 1.8% to 3,722,000 in June 2012, with an average monthly consumption of 173.5 kWh in 2Q12, versus 179.9 kWh in 2Q11. Commercial clients consumed 1,866 GWh, 8.4% more than in 2Q11, accounting for 32.4% of the total. Excluding the reclassification of house and apartment buildings complex, commercial consumption moved up by 5.2%. Another 22 clients joined the free market in 2Q12, having been recorded under captive clients in 2Q11, resulting in a 15 GWh period increase in free market consumption.
2 To preserve comparability with the market approved by ANEEL in the tariff adjustment process, the billed energy of the free consumer CSN was excluded, in view of this clients then planned migration to the core network. Energy consumption by CSN totaled 407 GWh in 2Q12 and 367 GWh in 2Q11.

Industrial consumption amounted to 982 GWh, equivalent to 17.1% of the total market, 1.8% down on the second quarter of 2011. Seven clients in this segment, whose consumption totaled 46 GWh, migrated from the captive market to the free market. The other consumption segments, which accounted for 16.3% of the total market, posted an upturn of 3.5% over 2Q11, with the rural, government and public utilities categories, which represented 0.2%, 6.9% and 5.9% of the total market, respectively, recording a reduction of 0.1% and increases of 4.2% and 5.7%, respectively. Pursuant to ANEEL Resolution 414, Light changed its policy towards clients with long-term default, and began terminating their contracts. Between February and June, 164,000 clients located in areas where traditional collection initiatives are not effective were suspended. This measure also reduced billed consumption by approximately 60 GWh in 2Q12 and was reflected in energy losses, although there was no negative impact on cash generation. If the consumption that was unbilled due to the change in the policy is included, total consumption increased by 2.6% over 2Q11.

TOTAL ENERGY CONSUMPTION (GWh) (CAPTIVE + FREE) - HALF

-0.2%

11,960 -4.7% 5.1% 1,547

11,934 1,639

4,531

4,317

-1.1%

3,621 337

3,805 371

1.4%

10,413 1,868 98 1,771

10,295

1,966 1,114 852

1,944 1,170 774 3,284 3,434

1,843 95 1,748

1H11

1H12

1H11

1H12

1H11

1H12

1H11

1H12

1H11

1H12

Captive

Free

Total energy consumption in Light SESAs concession area (captive clients + transport of free clients3) came to 11,934 GWh in 1H12, 0.2% less than in 1H11, jeopardized by the suspension of clients with long-term default, which reduced 1H12 billed consumption by 102 GWh. Excluding this effect, consumption increased by 0.6% between the periods. The low temperatures recorded this year,
3 To preserve comparability with the market approved by ANEEL in the tariff adjustment process, the billed energy of the free consumers CSN and CSA was excluded, in view of these clients then planned migration to the core network. Energy consumption by these clients totaled 754 GWh in 1H12 (Only CSN) and 969 GWh in 1H11 (CSN + CSA).

especially in the summer, which were 1.6C lower on average in January and February than in the same months last year, also impacted market performance. If consumption of the free clients CSN and CSA (the latter in 1Q11 only) is taken into account, total consumption came to 12,687 GWh in 1H12, versus 12,929 GWh in 1H11. Residential consumption totaled 4,317 GWh in 1H12, 4.7% down on 1H11, chiefly due to the impact of the termination of contracts with clients with long-term default and the reclassification of condominiums from the residential to the commercial segment. Excluding these effects, residential consumption decreased by 1.7%. Average monthly consumption fell from 200.2 kWh in 1H11 to 188.9 kWh in 1H12. Commercial clients consumed 3,805 GWh, accounting for 31.9% of the total. The retail, building service, and health-related services did particularly well, with respective increases of 3.1%, 20.1%, and 4.5% and corresponding shares of 22.8%, 12.2% and 3.9%. In 1H12, industrial consumption amounted to 1,944 GWh, 1.1% down on 1H11. Seven clients in this segment, whose consumption totaled 80 GWh, migrated from the captive market to the free market, while one client, with average monthly consumption of 1.5 GWh, migrated from the free market to the captive market in June 2012.

Energy Balance
DISTRIBUTION ENERGETIC BALANCE - GWh Position: January - June 2012

PROINFA 253.1

1.7% Residential 4,316.8 70.8% 98.0% Own load Light 14,542.5 Billed Energy 10,294.9 Industrial 773.7 Commercial 3,433.6 Losses + Non Billed Energy 4,247.6 Others 1,770.8
41.9%

CCEAR 1.1% Light Energia 156.4 ITAIPU (CCEE) 2,653.0 AUCTIONS (CCEE) 8,437.2 NORTE FLU (CCEE) 3,167.5 OTHERS(*) (CCEE) 171.7 21.3% 56.9% 17.9% Required E. (CCEE) 14,838.9

7.5%

33.4%

17.2%

29.2% Basic netw. losses 2.0% Adjustment (**)

296.3 0.1

1.2%

(*) Others = Purchase in Spot - Sale in Spot. Note: 1) At Light S.A., there is intercompany power purchase/sale elimination

2) Power purchase data as of 07/09/2012 (subject to change)

Energy Balance (GWh) = Grid Load - Energy transported to utilities - Energy transported to free customers* = Own Load - Captive market consumption Low Voltage Market Medium Voltage Market - Losses + Non Billed Energy
*Including CSN and CSA

2Q12 8,600 664 1,223 6,712 4,916 3,211 1,706 1,796

2Q11 Var.% 8,335 3.2% 738 -9.9% 1,117 9.5% 6,480 3.6% 4,880 0.7% 3,174 1.2% 1,706 0.0% 1,600 12.3%

1H12 18,283 1,314 2,427 14,543 10,295 6,823 3,472 4,248

1H11 Var.% 18,191 0.5% 1,480 -11.2% 2,379 2.0% 14,332 1.5% 10,413 -1.1% 6,896 -1.1% 3,518 -1.3% 3,918 8.4%

Energy Losses Light SESAs total energy losses amounted to 7,839 GWh, or 22.3% of the grid load, in the 12 months ended June 2012, 0.9 p.p. and 0.3 p.p. up on June 2011 and March 2012, respectively. Non-technical losses totaled 5,466 GWh in June 2012, representing 42.3% of billed energy in the low-voltage market (ANEEL criterion), or 15.6% of the grid load, 1.0 p.p. up on March 2012 and June 2011. The increase in non-technical losses as a percentage of the low-voltage market reflected the decision at the beginning of 2012 to terminate contracts with clients exhibiting long-term default in areas where traditional collection initiatives are not effective, pursuant to ANEEL Resolution 414. There was no adverse impact on cash generation, however.
Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 41.3% 40.7% 41.3% 40.4%
7,619 21.4%

Light Losses Evolution 12 months

7,627 21.5% 15.0%

7,582 21.7%

7,665 22.0% 15.3%

7,839 22.3%

15.0%

15.0%

15.6%

Jun-11
Losses (GWh)

Sep-11

Dec-11

Mar-12

Jun-12

Losses / Grid Load %

Non-Technical Losses % Grid Load

Non tecnical losses / Low Voltage market 12 months

5,326

5,299

5,247

5,316

5,466 42.3%

Losses (GWh)

Non-Technical Losses % Low Voltage Mkt

In regard to the program of new technologies to reduce losses, the installation pace accelerated at the beginning of the year, reaching 250,000 electronic meters installed and 243,000 clients with a protected network in June 2012. The Company plans to close the year with 318,000 electronic meters installed. Conventional energy recovery processes, such as the

Electronic Meters Installed (thousand units)

250

63.4%
153

negotiation of amounts owed by clients where fraud has been detected, resulted in the recovery of 56.7 GWh in 1H12, 31.0% down on the same period last year. Fraud regularization programs yielded a total of 24,770 normalized clients, 39.1% less than in 1H11. Despite the decline in both indices, the new strategy increased incorporated energy by 16.9% to 43.1 GWh, underlining the effectiveness of the regularization and inspection procedures.
Energy Incorporation (GW)

1H11

Recovered Energy (GW)

1H12

82.3 -31.0% 56.7

1H11

1H12

Normalized Costumers

43.1 36.8

40,668

16.9%

-39.1%
24,770

1H11

1H12

1H11

1H12

Communities The program to improve energy supply quality and reduce losses in the communities remains one of the Companys priorities and has shown good results. Since the beginning of the program, the Company has connected 22,983 to the network and equipped them with meters, 116% more than before the program. In the first half of 2012, 1,418 refrigerators and 25,902 bulbs were replaced as part of the energy efficiency program and 71 km of cable were replaced by a stronger and protected network, thus preventing energy theft and outages. The Company is present in fourteen communities, four of which it has entered this year. By the end of 2012, the Company plans to have completed its investments in five more communities.

Collection The 2Q12 collection rate totaled 103.9% of billed consumption, 1.9 p.p. up on 2Q11. In the last 12 months, the collection rate stood at 98.2% of billed consumption, 0.7 p.p. up on the 12 months ended June 2011 and 0.5 p.p. more than in the 12 months ended March 2012. Retail, Government and major client
Collection Rate 12 m onths moving average
98.2%

Colletion rate R$ MN Billing* Collection Collection Tax

*C ommercial Billing

2Q12 2,353 2,444 103.9%

2Q11 2,190 2,233 102.0%

1H12 4,913 4,878 99.3%

1H11 4,708 4,600 97.7%

segments recorded collection rates of more than 100%. The first-half collection rate came to 99.3%, 1.6 p.p. higher than the 97.7% reported in the same period last year. The improvement can be explained by certain defaultcombating activities, including: (i) the change in the criterion for treating clients with long-term default as of March 2012; (ii) the campaign at the end of 2011, with massive collection initiatives; (iii) the ongoing installation of electronic meters; and (iv) the 20.2% increase in the
105.0%

97.5%

97.7%

Jun-11

Mar-12

Jun-12

Collection Rate per Segment Quarter

108.3% 100.7% 101.4% 100.1%

107.4%

number of disconnections and the 90.7% upturn in the registration of clients with past due bills within the credit protection service between the quarters. In 2Q12, provisions for past due accounts (PCLD) totaled R$72.2 million, representing 3.4% of gross billed energy. In the six-monthly comparison, the PDLC fell from 3.3% of gross billed energy, in 1H10 and 1H11, to 3.0% in 1H12, totaling R$133.9 million, thanks to the change in the criterion for treating clients with long-term default as of March 2012 and by the default-combating activities throughout 2012.

Retail

Large Custom ers

2Q11 2Q12

Public Sector

PCLD/Gross Revenue (Billed Sales)

3.3%

3.3% 3.0%

1H10

1H11

1H12

Provisions for Past Due Accounts

R$ Million PCLD 2Q12 72.2 2Q11 79.5 Var. R$ (7.3) 1H12 133.9 1H11 143.9 Var. R$ (10.0)

10

Operating Quality Light is fully committed to maintaining the supply of high-quality electricity. In 1H12, it invested R$100.2 million to improve the quality of its supply and increase the capacity of its distribution network. In addition to improving relations between the distributor and its clients, quality levels will be of major importance in the regulatory model, given the rules that have already been approved for the 3rd tariff revision cycle. Companies will be encouraged to improve their quality standards, which will be recognized through the X factor. In 2Q12, 28.5 km of low-voltage cable in the distribution network were replaced by multiplex cable, and 47.8 km of medium-voltage open network were replaced with spacer cable. A total of 419 mediumvoltage circuits were inspected/maintained, 1,500 transformers were replaced and 33,678 trees were pruned. In the underground distribution network, 5,331 transformer vaults and 12,810 manholes were inspected. In addition, 32 transformers and 662 protectors were maintained. In the 12 months through June 2012, the equivalent length of interruption indicator (ELC), expressed in time, registered 16.32 hours, while the equivalent frequency of interruption indicator (EFC), expressed in occurrences, stood at 7.78 times. The worsening of these indicators can be explained by the higher number of occurrence removals in 2011 years, due to the so-called critical days", calculated in accordance with ANEELs methodology. If we compare them with no removals, i.e. in terms of what consumers actually experienced, the DEC fell from 3.29 hours in 2Q11 to 2.74 hours in 2Q12, while the FEC improved from 1.68 times to 1.40 times in the same period.

ELC / EFC - 12 Months

11.59 14.63 16.32 6.06 7.03 7.78

ELC and EFC - Without Purge Quarter

ELC

3.29 2.74 1.68 1.40

EFC

ELC

EFC

Jun/10*

Jun/11

Jun/12

2Q11

2Q12

* Does not include the effects of the 11/10/2009 occurrence in the national interconnected system.

11

Generation In 2Q12, energy sold on the captive market (ACR) totaled 977.2 GWh, 3.6% down year-on-year due to contract seasonality and, especially, returns from the Mechanism for the Offsetting of Surpluses and Deficits (MCSD), while energy sold on the free market (ACL) amounted to 186.9 GWh, up by 24.7% due to the higher volume of energy contracted for 2012, including the ACR returns, and the sale of subsidized energy from the Paracambi SHP. Spot market sales declined by 26.4%, chiefly due to the reduction in hydro generation in the interconnected system and the seasonality of assured energy. First-half energy sales totaled 2,819.5 GWh, 0.3% less than in 1H11, due to contract seasonality.

LIGHT ENERGIA (GWh) Regulated Contracting Environment Sales Free Contracting Environment Sales Spot Sales (CCEE) Total

2Q12 977.2 186.9 133.6 1,297.7

2Q11 1,014.0 149.9 181.5 1,345.3

% -3.6% 24.7% -26.4%

2H12 2,029.1 325.6 464.8

2H11 2,069.6 280.9 478.3 2,828.8

% -2.0% 15.9% -2.8% -0.3%

-3.5% 2,819.5

Commercialization and Services In the second quarter of 2012, direct energy sales from Light Esco and LightCom, from conventional and subsidized sources, totaled 381.4 GWh, 16.3% less than the 455.7 GWh recorded in the same period last year, primarily due to the high difference settlement price (PLD), the spot market reference price, which averaged R$115.15 in 1H12, a hefty 322% more than the R$27.27 average in the same period last year.

Volume (GWh) Trading

2Q12 381.4

2Q11 455.7

Var.% -16.3%

1H12 775.7

1H11 762.8

Var.% 1.7%

In 1H12, two new projects were contracted for remodeling and expanding the chilled water plants of large shopping malls, in addition to the installation of a solar power plant on the roof of the Maracan soccer stadium. Projects to construct substations and increase the load were also contracted. Currently, Light Esco is responsible for seven service provision projects, including a co-generation project for a soft drinks factory in Rio de Janeiro, which, on conclusion, will result in a series of industrial utilities, including electricity, chilled water, steam, thermal energy and industrial gases.

12

Financial Performance
Net Revenue Consolidated Consolidated net operating revenue totaled 1,797.9 million in 2Q12, 9.8% up on 2Q11. Excluding revenue from construction, which has a neutral effect on net income, consolidated net revenue increased by 12.1% to 1,635.7 million. All of the Companys operational segments recorded growth, led by generation, whose net revenue increased by 42.9% year-on-year. Excluding revenue from construction, consolidated net revenue totaled R$3,402.5 million in 1H12, 8.1% higher than in 1H11.

Net Revenue (R$ MN) Distribution Billed consumption Non billed energy Network use (TUSD) Short-Term (Spot) Others Subtotal (a) Construction Revenue Subtotal (a') Generation Generation Sale (ACR+ACL) Short-Term Others Subtotal (b) Commercialization and Services Energy Sales Others Subtotal (c) Others and Eliminations (d) Total w/out construction revenue (a+b+c+d) Total (a'+b+c+d)
1

2Q12 1,319.5 (22.5) 143.2 16.9 15.2 1,472.3 162.2 1,634.5

2Q11 1,253.1 (44.6) 120.4 9.7 6.4 1,345.1 179.2 1,524.3

Var. % 5.3% -49.5% 19.0% 73.6% 136.4% 9.5% -9.5% 7.2%

1H12 2,768.0 3.0 280.8 17.6 42.0 3,111.4 299.7 3,411.1

1H11 2,683.6 (31.1) 255.7 12.7 10.3 2,931.2 326.3 3,257.5

Var. % 3.1% 9.8% 38.3% 308.6% 6.1% -8.2% 4.7%

89.1 21.6 4.2 114.9

74.9 0.6 1.9 77.5

18.9% 3245.4% 48.3%

170.8 34.4 8.3 213.6

153.6 5.0 3.6 162.2

11.2% 594.7% 129.1% 31.7%

57.9 11.9 69.8 (21.3) 1,635.7

44.5 12.2 56.7 (20.5) 1,458.7

30.3% -2.9% 23.1% 3.8% 12.1%

105.3 13.0 118.2 (40.8) 3,402.5

80.9 16.9 97.8 (44.9) 3,146.3

30.1% -23.2% 20.9% -9.3% 8.1%

1,797.9 1,637.9 9.8% 3,702.2 3,472.6 6.6% Balance of the settlement on the CCEE The subsidiary Light SESA counts revenues and costs, w ith zero margin, related to services of construction or improvement in
infrastructure used in services of electricity distribution.

13

Distribution Net revenue from distribution came to R$1,634.5 million in 2Q12, 7.2% more than in 2Q11. Excluding revenue from construction, net revenue from distribution totaled R$1,472.3 million, up by 9.5%. The improvement was mainly due to the average energy tariff increase of 7.82% as of November 7, 2011 and the 1.5% growth in the total market. The residential and commercial segments accounted for 78% of captive market revenue. Excluding revenue from construction, net revenue from
Net Revenue by Class- Captive R$ MN - 2Q12
Others 15% 191 444 Com m ercial 34% 586 98 Industrial 7% Residential 44%
Com m ercial 34% Others 18% 889 1,685 1,969 373 Residential 40%

Electric Energy Consumption (GWh) - Captive 2Q12

Industrial 8%

distribution came to R$3,111.4 million in the first half, 6.1% upon the same period last year, mainly due to the 6.0% increase in free market consumption and the November 2011 tariff adjustment.

Generation Net revenue from generation totaled R$114.9 million in 2Q12, 48.3% more than in 2Q11, chiefly due to the substantial period increase in the average spot market price (R$164.0/MWh in 2Q12, versus R$20.5/MWh in 2Q11) and of the 24.7% upturn in free market energy sales volume, together with higher contracting prices in that market. First-half net revenue totaled R$213.6 million, 31.7% up on 1H11, mainly due to the higher price and volume of energy contracts traded on the free market, as well as the increase in the average spot market price.

Commercialization and Services Net revenue from commercialization and services stood at R$69.8 million in 2Q12, 23.1% up on 2Q11, primarily due to the higher energy commercialization price, in turn impacted by the period upturn in the spot market price. First-half net revenue totaled R$118.2 million, 20.9% up on the same period last year.

14

Costs and Expenses Consolidated Consolidated Operating Costs and Expenses In 2Q12, operating costs and expenses totaled R$1,624.7 million, 9.1% up year-on-year. Excluding construction costs, consolidated costs and expenses climbed by 11.6% over 2Q11, led by the distribution segment, which moved up by 10.7%, fueled by the 18.9% upturn in non-manageable costs. In 1H12, consolidated costs and expenses, excluding construction costs, totaled R$2,885.6 million, 8.7% more than in 1H11.

Operating Costs and Expenses* (R$ MM) Distribution Distribution w/out Construction Revenue Generation Commercialization Others and Eliminations Consolidated w/out Construction Revenue Consolidated
*Does not include other operating expenses/incomes

2Q12 (1,537.0) (1,374.8) (42.3) (62.3) 16.9 (1,462.4) (1,624.7)

2Q11 Var. % (1,421.3) 8.1% (1,242.1) 10.7% (35.3) 19.8% (50.6) 23.2% 22.0 -23.3% (1,310.3) 11.6% (1,489.5) 9.1%

1H12 (3,030.5) (2,730.9) (80.5) (107.2) 33.0 (2,885.6) (3,185.3)

1H11 Var. % (2,858.3) 6.0% (2,532.1) 7.9% (71.8) 12.1% (89.6) 19.7% 39.6 -16.7% (2,653.8) 8.7% (2,980.1) 6.9%

Distribution In 2Q12, distribution costs and expenses moved up by 8.1% over 2Q11. Excluding construction costs, total costs and expenses grew by 10.7%, mainly due to the 18.9% increase in non-manageable costs and expenses, partially offset by the 9.8% decline in manageable costs and expenses.

Custos e Despesas (R$ MM) Custos e Despesas No Gerenciveis Custos de Compra de Energia Custos com Encargos e Transmisso Outros (Custos Obrigatrios) Custos e Despesas Gerenciveis PMSO Pessoal Material Servio de Terceiros Outros Provises Depreciao e Amortizao Custo de Construo Custos Totais s/Custo de Construo Custos Totais

2T12 (1,053.0) (852.7) (196.2) (4.1) (321.8) (169.9) (61.7) (3.8) (89.2) (15.2) (84.0) (67.9) (162.2) (1,374.8) (1,537.0)

2T11 Var. % (885.3) 18.9% (714.7) 19.3% (166.3) 18.0% (4.4) -5.2% (356.8) -9.8% (179.4) -5.3% (66.0) -6.5% (5.9) -34.7% (90.8) -1.8% (16.7) -9.4% (99.3) -15.4% (78.0) -13.0% (179.2) -9.5% (1,242.1) 10.7% (1,421.3) 8.1%

1S12 (2,079.2) (1,682.2) (388.7) (8.3) (651.6) (337.6) (126.5) (7.4) (174.4) (29.3) (170.5) (143.6) (299.7) (2,730.9) (3,030.5)

1S11 Var. % (1,870.6) 11.2% (1,511.1) 11.3% (350.8) 10.8% (8.7) -5.1% (661.5) -1.5% (348.0) -3.0% (120.4) 5.1% (11.6) -36.2% (186.5) -6.5% (29.5) -0.7% (159.6) 6.8% (153.9) -6.7% (326.3) -8.2% (2,532.1) 7.9% (2,858.3) 6.0%

15

Non-Manageable Costs and Expenses In 2Q12, non-manageable costs and expenses came to R$1,053.0 million, 18.9% up on the same period in 2011. Purchased energy costs increased by 19.3% over 2Q11, chiefly due to the exchange variation, which affected the costs of energy purchased from Itaipu and Norte Fluminense, and the upturn in the PLD, which drove up the cost of thermal plant availability. Further upward pressure came from the entry of products contracted in new energy auctions at higher prices and adjustments to existing contracts. Part of this increase had already been considered in the 2011 tariff adjustment and the other part comprises regulatory assets and liabilities (CVA), which will be considered in the next tariff adjustment, but are not recorded in the income
55.9% 56.0% 1.7%
1.1% 17.1% 30.3% 51.5% 2Q11
AUCTIONS NORTE FLU

Purchased Energy - R$ MN Quarter

714.7

852.7
19.1% 27.6% 51.0%

2.3%

2Q12
ITAIPU SPOT

Purchased Energy - GWh Quarter

6,966
0.3% 19.3% 22.7%

6,936
0.1% 19.3% 22.8% 1.8%

statement in accordance with International Financial Reporting Standards (IFRS). Costs with charges and transmission increased by 18.0% in 2Q12, chiefly due to the upturn in reserve energy and the annual adjustment of connection and transmission charges. These were partially offset by the decline in System Service Charges (ESS) thanks to fewer thermal plant activations in 2Q11 due to operational restrictions. The average purchased energy cost, excluding spot market purchases, amounted to R$116.2/MWh in 2Q12, 12.3% up on the R$103.6/MWh recorded in 2Q11. In the first half, non-manageable costs and expenses totaled R$2,079.2 million, 11.2% up year-onyear. Purchased energy costs increased by 11.3%, driven by the exchange variation, which affected the costs of Itaipu and Norte Fluminense, and the upturn in the PLD. Costs with charges climbed by 10.8%, chiefly due to the upturn in reserve energy and the annual adjustment of connection and transmission charges.
2Q11
AUCTIONS NORTE FLU ITAIPU

2Q12
SPOT PROINFA

16

Manageable Costs and Expenses In 2Q12, manageable operating costs and expenses, comprising personnel, materials, outsourced services, provisions, depreciation and others, totaled R$321.8 million, 9.8% down on 2Q11. Costs and expenses from personnel, materials, services and others (PMSO) totaled R$169.9 million, 5.3% less than in 2Q11. The 6.5% reduction in the personnel line was mainly due to higher labor capitalization for investments effected in the quarter. The provisions line fell by 15.4% in relation to 2Q11. There was a reversal of approximately R$10 million due to recalculations of provisions for several labor lawsuits, while the constitution of R$722 million under provisions for past due accounts (PCLD) in 2Q12, represented 3.4% of gross billed energy, 0.5 p.p. down on the 3.9% of gross billed energy recorded in 2Q11, when the PCLD totaled R$79.5 million. The 13.0% decline in depreciation and amortization can be explained by the reduction in the average depreciation rate, in effect since the beginning of the year, as determined by ANEEL Resolution 474/2012. Consequently, there was a positive effect this quarter, equivalent to a reversal of R$4.1 million over 1Q12 and a reduction of R$4.1 million over 2Q12. Manageable costs and expenses in the first six months came to R$651.6 million, 1.5% down on 1H11. PMSO totaled R$337.6 million, down by 3.0%. Provisions for past due loans amounted to R$133.9 million, a 7.0% year-on-year reduction, representing 3.0% of gross billed energy, down by 0.3 p.p. Despite the improvement in this item, the provisions line still moved up by 6.8%, chiefly due to reversals in 1H11, related to: (i) municipal property tax (IPTU) levied on various properties, totaling R$18 million; and (ii) the peremption of charges related to the Contribution on Economic Activity (CIDE), totaling R$5 million.

Generation

Generation Operating Costs and Expenses - R$ MN Personnel Material and Outsourced Services Purchased Energy (CUSD) Depreciation Others (includes provisions) Total

2Q12 (5.7) (5.2) (7.8) (14.6) (9.0) (42.3)

2Q11 Var. % (6.1) -6.8% (4.0) 30.3% (4.2) 86.8% (14.2) 2.8% (6.8) 32.1% (35.3) 19.8%

1H12 (11.4) (9.3) (13.3) (28.7) (17.8) (80.5)

1H11 Var. % (11.9) -4.2% (7.5) 24.1% (8.4) 57.6% (28.9) -1.0% (15.0) 18.8% (71.8) 12.1%

In 2Q12, Light Energias costs and expenses amounted to R$42.3 million, an increase of 19.8% over 2Q11, mainly due to the consolidation of Renovas costs as of September 2011, totaling R$2.9 million, and the purchase of energy generated by the Paracambi SHP totaling R$2.9 million.

17

Second-quarter costs and expenses were broken down as follows: personnel (13.5%), materials and outsourced services (12.2%), CUSD/CUST distribution/transmission system usage (18.5%), and depreciation and others (55.7%). PMSO per MWh in the quarter came to R$16.52/MWh, versus R$14.20/MWh in 2Q11. In 1H12, Light Energias costs and expenses came to R$80.5 million, 12.1% more than in 1H11, mainly due to the consolidation of Renovas costs, which represented R$5.7 million, and energy purchases from the Paracambi SHP totaling R$2.9 million.

Commercialization and Services

Comercialization Operating Costs and Expenses - R$ MN Personnel Material and Outsourced Services Purchased Energy Depreciation Others (includes provisions) Total

2Q12 (1.5) (6.8) (53.1) (0.1) (0.6) (62.3)

2Q11 (1.3) (10.7) (37.9) (0.2) (0.4) (50.6)

Var. % 18.6% -36.3% 40.1% -18.3% 45.8% 23.2%

1H12 (2.6) (7.7) (95.6) (0.4) (0.9) (107.2)

1H11 Var. % (2.3) 15.5% (14.0) -45.1% (72.2) 32.5% (0.3) 30.7% (0.8) 9.5% (89.6) 19.7%

In 2Q12, costs and expenses totaled R$62.3 million, 23.2% higher than in the first quarter of 2011, chiefly due to purchased energy costs, which increased by 40.1% as a result of higher spot market prices. In 1H12, costs and expenses totaled 107.2 million, 19.7% up on 1H11, also driven by higher spot market prices.

EBITDA Consolidated Consolidated EBITDA amounted to R$255.8 million in 2Q12, 6.2% up on 2Q11, mainly as a result of the 12.1% increase in net revenue, with growth in all operational segments, together with higher purchased energy costs, chiefly due to adjustments to existing contracts, the variation in the exchange rate, which affected the costs from energy purchased from Itaipu, and the upturn in the PLD, which impacted the cost of thermal plant availability. Part of this increase had already been considered in the 2011 tariff adjustment and the other part comprises regulatory assets and liabilities (CVA), which will be considered in the next tariff adjustment, but are not recorded in the income statement. Including the CVA, adjusted EBITDA came to R$331.5 million, 34.5% up on 2Q11.

18

EBITDA - 2Q11/2Q12- R$ Millions

+34,5% +6,2%

177 246 6 241

(186) 76 8 15 256 332

Adjusted Regulatory Adjusted Net Revenue EBITDA - 2Q11 Assets and EBITDA - 2Q11 Liabilities

NonManagable Costs

Managable Costs (PMSO)

Provisions

EBITDA - 2Q12 Regulatory Assets and Liabilities

Adjusted EBITDA - 2Q12

The EBITDA margin4 stood at 15.6% in 2Q12. The strong growth of EBITDA from generation
Distribution 63.7%

EBITDA per segment* 2Q12

increased this segments share of consolidated EBITDA to 33.4%, while distribution and

commercialization accounted for 63.7% and 2.9%, respectively.

Commercialization 2.9%

Generation 33.4%

*Does not consider eliminations

Consolidated EBITDA- R$ MM Distribution Generation Commercialization Others and eliminations Total EBITDA Margin (%)

2Q12 166.2 87.2 7.6 (5.3) 255.8 15.6%

2Q11 Var.% 179.6 -7.5% 56.4 54.7% 6.3 21.4% (1.5) 254.6% 240.8 6.2% 16.5% -

1H12 528.2 161.8 11.4 (11.8) 689.6 20.3%

1H11 Var.% 551.8 -4.3% 120.4 34.4% 8.6 33.6% (5.0) 136.6% 675.7 2.0% 21.5% -

First-half EBITDA totaled R$689.6 million, 2.0% up on 1H11, accompanied by an EBITDA margin of 20.3%. Including the CVA, EBITDA came to R$763.2 million in 1H12, 23.9% up year-on-year. Distribution The distribution companys EBITDA totaled R$166.2 million in 2Q12, 7.5% down on 2Q11, mainly due to the upturn in purchased energy costs, fueled by higher spot market prices and the period exchange
Revenue from construction was not considered in the calculation of the consolidated and distribution EBITDA margins, due to the booking of revenues and costs with a zero margin.
4

19

variation. Part of the cost upturn comprised regulatory assets and liabilities (CVA), which will be considered in the next tariff adjustment. If these are included, EBITDA came to R$241.9 million, 30.6% up on 2Q11. The 2Q12 EBITDA margin5 stood at 11.3%, 2.1 p.p. less than in the same period last year. In the first half, the distribution company posted EBITDA of R$528.2 million, 4.3% down on 1H11, also impacted by the upturn in purchased energy costs. Including the CVA, 1H12 EBITDA came to R$601.8 million, a 22.3% year-on-year improvement. The EBITDA margin was 17.0%, down by 1.8 p.p. on 1H11.

Generation Light Energia recorded 2Q12 EBITDA of R$87.2 million, 54.7% up on 2Q11, mainly due to the increase in short-term energy sales revenue, as a result of the increase in the average period spot market price (R$164.0/MWh in 2Q12, versus R$20.5/MWh in 2Q11) and the 24.7% upturn in free market energy sales volume, together with higher contracting prices in that market. The EBITDA margin came to 75.9%, 3.1 p.p. up on 2Q11. First-half EBITDA totaled R$161.8 million, 34.4% higher than in 1H11, with an EBITDA margin of 75.7%, up by 1.5 p.p.

Commercialization and Services EBITDA totaled R$7.6 million in 2Q12, 21.4% more than in 2Q11, thanks to the significant increase in the PLD, which offset the 16% period reduction in the volume of energy sold. The EBITDA margin came to 10.9%, 0.2 p.p. down on 2Q11. EBITDA in the first six months came to R$11.4 million, 33.6% up on 1H11, with an EBITDA margin of 9.7%, up by 1.0 p.p.

Revenue from construction was not considered in the calculation of the consolidated and distribution EBITDA margins, due to the booking of revenues and costs with a zero margin.

20

Consolidated Financial Result

Financial Result - R$ MN Financial Revenues Income from financ ial investments Monetary and Exchange variation Swap Operations Moratory Increase / Debts Penalty Others Financ ial Revenues Financial Expenses Debt Expenses Monetary and Exchange variation Swap Operations Restatement of provision for contingenc ies Restatement of R&D/PEE/FNDCT Interest and fines on taxes Installment payment - fines and interest rates Law 11.941/09 (REFIS) Present value adjustment DIC/FIC Compensation Other Financial Expenses (Inc ludes IOF) Braslight (private pension fund) Charges Monetary and Exc hange Variation Total 2Q12 68.3 10.1 0.5 19.5 23.5 14.8 (186.9) (85.2) (20.3) (4.7) (1.8) (0.5) (4.0) (30.0) (9.9) (2.2) (28.5) (15.6) (12.9) (118.6) 2Q11 57.9 16.1 0.4 35.7 5.7 (146.8) (86.0) 2.9 (1.7) (4.0) 0.0 (8.6) (6.3) 1.4 (7.0) (1.3) (36.1) (15.2) (21.0) (88.9) Var. % 18.0% -37.1% 21.8% -34.2% 158.0% 27.4% -1.0% 16.1% -9378.9% -93.9% -36.8% 40.3% -21.0% 3.0% -38.4% 33.5% 1H12 101.7 23.5 2.2 17.6 42.1 16.3 (348.3) (179.9) (16.0) (15.9) (4.0) (0.7) (8.5) (29.1) (25.8) (8.3) (60.2) (31.3) (28.9) (246.6) 1H11 94.4 27.0 1.4 55.4 10.5 (279.9) (154.2) 3.4 (3.2) (19.0) (2.1) (11.5) (11.0) 5.8 (16.8) 3.0 (74.2) (30.2) (44.0) (185.5) (%) 7.8% -13.0% 52.4% -24.0% 55.4% 24.5% 16.7% -16.4% 90.5% -93.7% -22.6% 53.7% -18.8% 3.7% -34.3% 33.0%

The 2Q12 financial result was a negative R$118.6 million, 33.5% higher than the negative result recorded in 2Q11. Financial revenues totaled R$68.3 million, 18.0% up on the same period last year, mainly due to financial gains of R$19.5 million from hedge operations (swaps), due to devaluation of the real against the U.S. dollar. Financial expenses came to R$186.9 million in 2Q11, 27.4% more than in 2Q11, largely due to: (i) the upturn in expenses with the monetary and exchange variation totaling R$20.3 million, due to the devaluation of the real against the dollar (offsetting net financial revenues from swaps), (ii) the adjustment to present value of R$31.0 million in 2Q12 related to the advanced payment of a clients debt with Light, (iii) offset by the R$8.1 million reduction in the monetary restatement of the debt with Braslight, due to the difference in the indexing agents between the periods (1.21% in 2Q12, versus 2.04% in 2Q11). The first-half financial result was a negative R$246.6 million, 32.9% higher than the negative result in 1H11 for the same reasons mentioned above, plus increased expenses with fines, totaling R$9.0 million, due to the breach of continuity indicators.

21

Indebtedness

R$ MM Brazilian Currency Light SESA Debenture 4th Issue Debenture 5th Issue Debenture 7th Issue Eletrobrs CCB Bradesco Working Capital - Santander BNDES (CAPEX) BNDES FINEM Others Light Energia Debenture 1st Issue (Light Energia) Debenture 2st Issue (Light Energia) BNDES FINEM (CAPEX) Renova Energia BNDES FINEM (CAPEX) Banco do Nordeste Light ESCO BNDES - PROESCO Light GER BNDES - Lightger AXXIOM Banco Ita Foreing Currency Light SESA National Treasury Merril Lynch BNP Gross Debt Cash Net Debt (a) Braslight (b) Adjusted Net Debt (a+b)

Short Term 554.8 521.6 0.0 223.3 10.2 0.6 108.8 7.6 19.8 150.7 0.6 24.8 3.8 15.1 5.9 1.6 1.4 0.2 2.2 2.2 4.3 4.3 0.3 0.3 9.4 9.4 8.4 0.3 0.7 564.2

% 13.7% 12.9% 0.0% 5.5% 0.3% 0.0% 2.7% 0.2% 0.5% 3.7% 0.0% 0.6% 0.1% 0.4% 0.1% 0.0% 0.0% 0.0% 0.1% 0.1% 0.1% 0.1% 0.0% 0.0% 0.2% 0.2% 0.2% 0.0% 0.0% 13.9%

Long Term 3,258.7 2,344.4 0.0 426.3 648.2 1.2 375.0 80.0 420.9 392.7 611.6 171.2 423.3 17.1 235.4 208.3 27.1 5.6 5.6 61.8 61.8 232.1 232.1 40.4 101.1 90.6 3,490.8

% 80.4% 57.8% 0.0% 10.5% 16.0% 0.0% 9.2% 2.0% 10.4% 9.7% 15.1% 4.2% 10.4% 0.0 5.8% 5.1% 0.0 0.1% 0.1% 1.5% 1.5% 1.0% 5.7% 1.0% 2.5% 2.2% 86.1%

Total 3,813.5 2,866.0 0.1 649.6 658.4 1.8 483.8 87.6 440.8 543.4 0.6 636.3 175.0 438.4 23.0 237.0 209.7 27.3 7.8 7.8 66.2 66.2 0.3 0.3 241.5 241.5 48.8 101.4 91.3 4,055.0 538.4 3,516.6 1,092.4 4,609.0

% 94.0% 70.7% 0.0% 16.0% 16.2% 0.0% 11.9% 2.2% 10.9% 13.4% 0.0% 15.7% 4.3% 10.8% 0.6% 5.8% 5.2% 0.7% 0.2% 0.2% 1.6% 1.6% 0.0% 0.0% 6.0% 6.0% 1.2% 2.5% 2.3% 100.0%

113.0

979.4

The Company closed 2Q12 with gross debt of 4,055.0 million, 1.3% lower than at end of 1Q12 and 35.3% up year-on-year due to the increase in long-term real-denominated debt at the end of last year. This upturn was mainly a result of investments and acquisitions of participations in other companies. The main fund raisings came from : (i) Light SESAs 7th debenture issue, amounting to R$650 million; (ii) Light Energias 1st and 2nd debenture issues, totaling R$170 million and R$425 million,
Net Debt (ex-Braslight) (R$ m illion) 3,516.6

respectively; and (iii) the release of funds from the BNDES to Light SESA in the amount of R$490 million, along with the consolidation of Renova Energia S.A.s debt, of R$237.0 million.
Jun-11 2,549.3

3,439.2

Mar-12

Jun-12

22

Net debt came to R$3,516.6 million, 2.3% up on March 2012, mainly due to variations in cash. At the end of June 2012, the 12-month net
2.2% 5.6% 6.0% Indebtedness (Brazilian Currency x Foreign)

debt/EBITDA ratio stood at 2.8x. The Companys debt has an average term to maturity of 3.5 years. The average cost of realdenominated debt was 9.3% p.a., 0.8 p.p. down on the end-of-March figure, while the average cost of foreign-currency debt (US$ + 3.5% p.a.) was in line with the average cost in March 2012.

97.8%

94.4%

94.0%

Jun-11

Mar-12
Brazilian Currency

Jun-12
Foreign Currency

At the end of June, only 6.0% of total debt was denominated in foreign currency and, considering the FX hedge horizon, only 0.6% of the total was exposed to foreign currency risk, in line with March 2012. Lights hedge policy consists of protecting cash flow falling due within the next 24 months (principal and interest) through the use of non-cash swap instruments with premier financial institutions.

23

Net Income Light posted net income of R$39.8 million in 2Q12, 12.3% down on 2Q11, due to the increase in the net financial expense, in turn caused by higher debt expenses arising from the Companys growthdriven increase in leverage, and the adjustment to present value of the advanced payment of a clients debt with Light. Further downward pressure came from the upturn in purchased energy costs, although part of this will be offset in the next tariff adjustment through the formation of regulatory assets and liabilities (CVA) not recorded in the income statement. Including the CVA, adjusted net income came to R$89.8 million, 83.0% up on 2Q11.

Net Income - 2Q11/2Q12 R$ Million

83.0% 50 90

-12.3% 15 49 4 45 10 40

(30)

(1)

Adjusted NI Regulatory 2Q11 Assets and Liabilities

2Q11

EBITDA

Financial Result

Taxes

Others

2Q12

Regulatory Adjusted NI Assets and 2Q12 Liabilities

First-half net income amounted to R$179.8 million, 15.0% down on 1H11 (or R$228.4 million adjusted for the CVA, up by 32.7%).

24

Capital Expenditures Light invested R$328.4 million in 1H12, 2.6% less than in the same half last year. The distribution segment absorbed most of the total R$302.3 million 3.5% up on 1H11. Of this total, R$98.4 million went to the development of distribution networks (new connections, capacity increases and repairs) to keep pace with market growth and strengthen the network; R$52.7
1H11
Distribution Administration 292,0 302,3 337,1 32,4 12,5 -2,6% 328,4 14,8 2,7 8,5

CAPEX (R$ MM)

1H12
Generation Commercial

million to network quality improvements and preventive maintenance, in order to

avoid power outages and accidents involving the public; and R$106.6 million to the energy loss project (network protection, electronic meters and fraud regularization). Investments in the underground network are recorded under distribution network and quality improvement investments. Generation investments totaled R$8.5 million in 1H12, R$7.2 million of which went to upgrading and maintaining existing generating facilities.

Generation Capacity Expansion Projects One of the pillars of Light's Strategic Plan is to increase the share of energy generation in its results. With this in mind, it has announced several projects to boost installed generating capacity, which now totals 955 MW following the start-up of the Paracambi SHP and Renovas first wind farm, as well as Renovas two operational SHPs. Given the ongoing projects, installed generating capacity will increase by a further 61.6% in the coming years, from 955 MW to 1,543 MW.

The second quarter of 2012 was marked by the following events related to projects for expanding Lights generating capacity:

25

Generation Expansion (MW) 280 87 955 200 9 77 1,040 1,240 1,520 22 1,543

61.6%

855

13 855

868
Existing Capacity

955

963

Previous Capacity

(+) PCH (+) Renova Paracambi

(+) Lajes (+) Itaocara (+) Renova

(+) Belo Monte

(+) Guanhes

Capacity after expansion

Paracambi SHP The Paracambi SHP was officially inaugurated on May 31, 2012, although the first turbine had

begun commercial operations on May 18. The second 12.5 MW turbine will start up on July 16. The Paracambi SHP has an installed capacity of 25 MW and assured energy of 19.53 average-MW. The project is being developed by Lightger S.A., a company in which Light S.A. holds a 51% interest and CEMIG Gerao e Transmisso S.A. retains the remaining 49%.

Lajes SHP At the end of June 2012, the Lajes SHP received a Report of Access, an in-depth technical study that is a pre-requirement for approval of the basic project. Following the latters approval by ANEEL, it will be possible to begin the works in 2013, with start-up scheduled for 2014, given that the project has already been granted an installation license. The 17 MW unit will be installed in the powerhouse of the Fontes Velha hydropower plant. In addition to increasing generating capacity, the project also brings certain other benefits, such as increasing operational flexibility, upgrading supply of CEDAEs water main, controlling Pira Rivers water level, and improving the quality of the water of the Lajes Reservoir.

26

Renova Energia (Renova) Reserve Energy Auction (LER) 2009: In July 2012, the Alto Serto I wind farm complex was inaugurated in Bahia. It is the largest in Latin America, comprising 14 wind farms, with a total of 184 wind turbines and a total installed capacity of 294.4 MW. Investments amounted around R$1.2 billion and annual revenue is estimated at R$187.2 million based on the current tariff of R$168.28/MWh, adjusted by the IPCA consumer price index on an annual basis. A-3 2012 and A-5 2012 energy auctions: Twelve wind farms with a total installed capacity of 270.4 MW have obtained technical qualification to participate in the A-3 and A-5 energy auctions scheduled for October 3 and 26, 2012, respectively, as part of the Companys growth plan.

27

Cash Flow
R$ MM Cash in the Beginning of the Period (1) Net Income Social Contributions & Income Tax Net Income before Social Contributions & Income Tax Provision for Delinquency Depreciation and Amortization Loss (gain) on intangible sales / Residual value of disposals fixed asset Losses (gains) on financing exchange activities Net Interests and Monetary Variations Braslight Atualization / provisions reversal Others Earning Before Taxes - Cash Basis Working Capital Contingencies Deferred Taxes Braslight Others Taxes Paid Interest Paid Cash from Operating Activities (2) Finance Obtained Dividends Loans and financing payments Financing Activities (3) Disposal of Assets Fixed Assets/Intangible/Financial Assets Acquisitions Investment Activities (4) Cash in the End of the Period (1+2+3+4) Cash Generation (2+3+4) 2Q12 662.6 39.8 (13.9) 53.7 72.2 89.6 0.7 18.7 124.0 28.5 11.7 399.1 39.5 (19.9) (50.3) (27.7) (47.2) (7.0) (95.4) 191.2 19.5 (73.7) (84.5) (138.8) 0.7 (192.8) (192.1) 523.0 (139.7) 2Q11 372.7 45.3 (12.8) 58.1 79.5 92.4 1.4 (0.9) 86.7 36.1 15.7 (1.9) 367.3 (7.4) (30.5) (27.0) (25.7) (24.4) (23.3) (72.1) 156.9 823.7 (351.0) (354.8) 117.9 1.6 (206.5) (5.8) (210.7) 436.9 64.2 1H12 772.5 179.8 (88.3) 268.1 133.9 172.7 2.2 15.8 234.5 60.2 37.2 924.5 (167.2) (38.2) (15.7) (64.0) (61.2) (60.4) (150.7) 367.2 46.5 (73.7) (208.3) (235.6) 1.7 (383.0) (381.2) 523.0 (249.6) 1H11 514.1 211.7 (95.0) 306.7 143.9 183.2 0.4 0.3 166.8 74.2 11.8 887.2 (209.2) (49.4) (143.5) (51.0) (36.8) (117.8) (112.6) 167.0 875.2 (351.0) (391.8) 132.5 4.7 (375.6) (5.8) (376.7) 436.9 (77.2)

The Company closed 2Q12 with a cash position of R$523.0 million. Operating cash flow totaled R$191.2 million in 2Q12, an improvement over the R$156.9 million recorded in 2Q11, mainly due to higher net income on a cash basis, arising from working capital, due to the upturn in collection. The Company recorded a negative cash variation of R$139.7 million in 2Q12, versus a positive R$64.2 million in 2Q11, chiefly due to the financing variation, given the lower volume of loans in the quarter.

28

Corporate Governance On June 30, 2012, the capital stock of Light S.A. comprised 203,934,060 common shares, 97,629,463 of which were outstanding. The following chart shows Lights current shareholding structure:

BTG PACTUAL

14.24% 2.74%

28.59%

SANTANDER

5.50%

FIP REDENTOR
28.59%

CEMIG
25% 6.41%

VOTORANTIM

5.50%

75%

19.23%

BANCO DO BRASIL

28.59% 5.50%

PARATI
100% 25.64%*

MINORITY
3.20% 0.42% 96.80%

100%

REDENTOR ENERGIA
100% 13.03%

FIP LUCE
100% 13.03%

FOREIGN
61.7%

NATIONAL
38.3%

CEMIG
26.06%

RME
13.03%

LEPSA
13.03%

BNDESPAR
13.46%

MARKET
34.41%

Controlling Shareholders 52.1%

Free Float 47.9%

LIGHT S.A. (Holding)

Percentage in blue: indirect stake in Light *12.61% (RME) + 13.03%(LEPSA)

The Annual Shareholders Meeting (ASM) of April 11, 2012 resolved on the following matters: (i) allocation of net income for the fiscal year ended December 31, 2011; and (ii) election of the Board of Directors sitting and alternate members, including independent members and the employees representative, all of whom with a unified two-year term of office, ending on the date of the Annual Shareholders' Meeting that resolves on the financial statements for the fiscal year ending December 31, 2013. The Extraordinary Shareholders Meeting (ESM) of April 25, 2012 resolved to amend the Company's bylaws as follows: increasing membership of the Board of Executive Officers, from eight (8) to nine (9)

29

Officers, creating the position of Communications Officer and changing the title New Business and Institutional Officer to Business Development Officer. On May 18, 2012, the Company announced that it had been notified by Parati on that date of the dissolution of its subsidiary Luce LLC (Luce). Luce held of seventy-five percent (75%) of FIP Luce, which holds an indirect interest of thirteen point zero three percent (13.03%) of the Companys total capital through LEPSA. Thus Parati, which held twenty-five percent (25%) of FIP Luce, according to the Material Fact published on July 18, 2011, now holds a 100% direct interest in FIP Luce and a 100% indirect interest in LEPSA. Thus Paratis interest in the Company remains unchanged. On June 22, 2012, the Company announced the signing of the Private Agreement for Subscription to Share Deposit Certificates (Units) Issued by Renova Energia S.A. and Other Covenants (Agreement), between BNDES Participaes S.A. BNDESPAR (BNDESPAR), Renova Energia S.A. (Renova), Light S.A., Light Energia S.A. (Light Energia), RR Participaes S.A. (RR), Ricardo Lopes Delneri and Renato do Amaral Figueiredo. Funds from the Investment will be allocated to sustain the implementation of Renovas business plan, both towards ongoing and future wind and solar power projects, as well as small hydroelectric power plants. The Agreement envisages a capital increase in Renova, to be resolved at an opportune moment, of up to three hundred fourteen million, seven hundred thousand, four hundred and seven reais and eightyfive centavos (R$314,700,407.85), at the price per share (common or preferred) of nine point three three three four reais (R$9.3334). BNDESPAR, in turn, undertook to subscribe to and pay the Units issued under the Capital Increase in the minimum amount of two hundred fifty million and nine reais and seventy centavos

(R$250,000,009.70). Apart from this minimum subscription, BNDESPAR will be entitled to the apportionment: (i) of the Units remaining unsubscribed after the period for exercising the preemptive rights of other shareholders of Renova has elapsed; and (ii) of the Units not subscribed by other shareholders of Renova and which are sold at an auction to be held at the BM&FBOVESPA S.A. Securities, Commodities and Futures Exchange. Consequent to the Investment, RR, Light Energia and BNDESPAR undertook to sign a shareholders' agreement to assure BNDESPAR the following rights: (i) election of one (1) member of the Board of Directors of Renova; (ii) tag-along rights in case of the direct or indirect sale of the shares of Renova held by RR or Light Energia; and (iii) the right to be included in secondary public offerings of Renova.

30

Capital Market Lights shares have been listed in the BM&FBovespas Novo Mercado trading segment since July 2005, therefore adhering to the best corporate governance practices and the principles of transparency and equity, in addition to granting special rights to minority shareholders. Light S.A.s shares are included in the following indices: Ibovespa, IGC (Corporate Governance Index), IEE (Electric Power Index), IBrX (Brazil Index), ISE (Corporate Sustainability Index), ITAG (Special Tag Along Stock Index) and IDIV (Dividend Index). Lights shares are also traded on the U.S. over-the-counter (OTC) market as Level 1ADRs, under the ticker LGSXY. At the end of June, Light S.A.s shares (LIGT3) were priced at R$24.80 (adjusted for shareholder payments). The Companys market cap (no. of shares x share price) closed the quarter at R$5,058 million.

BM&F BOVESPA (spot market) - LIGT3 Daily Average 2Q12 2Q11 1H12 1H11 Number of shares traded (Thousand) 643.8 653.7 727.1 806.4 Number of Transactions 2,621 1,950 2,554 2,206 Traded Volume (R$ Million) 15.8 18.5 19.1 22.2 Quotation per shares: (Closing)* R$ 24.80 R$ 27.33 R$ 24.80 R$ 27.33 Share Valuing (Quarter) -0.8% 10.9% -10.6% 22.9% IEE Valuing (Quarter) 0.4% 0.6% 8.6% 16.2% Ibovespa Valuing (Quarter) -15.7% -9.0% -4.2% -6.6%
*Ajusted by earnings.

The charts below give a breakdown of the Companys free float.

Breakdown of Free Float*

Foreign

National Legal Entities 17.9%

Europe 19.5%

Asia 13.1%

Oceania 1.7%

Foreign 62.4%

Individual 19.7%

America w/out USA 3.5% USA 62.3%

* Excludes participation of BNDESPAR.

31

The chart below shows the performance of Lights stock between January 1, 2011 and July 31, 2012.
Light x Ibovespa x IEE Base jan/11 = 100 until 07/31/2012

160

2011 IEE IBOV LIGT3

20% -18% 25%

2012 IEE IBOV LIGT3

8% 1% -10%

140

28% IEE
120

13% Light

100

80

-19% Ibovespa R$/ao 01/03/11 07/31/12 22.38 25.08

60

40

Feb-11

Apr-11

Oct-11

Feb-12

May-11

Apr-12

Jul-11

May-12

Dec-10

Jan-11

Jun-11

Aug-11

Sep-11

Nov-11

Dec-11

Jan-12

Mar-11

Dividends Lights dividend payment policy establishes a minimum payout equivalent to 50% of adjusted net income, calculated in compliance with article 189 of Brazilian Corporate Law and pursuant to Brazilian accounting practices and the regulations of the Brazilian Securities and Exchange Commission (CVM). The payment of interest on equity approved by the Board of Directors Meeting of December 16, 2011 was effected on April 27, 2012, totaling R$86,753,549.12, or R$0.4254 per share. Shareholders registered as such on December 16, 2011 were entitled to this payment.

Dividends paid, dividend yield and payout

8.2% 4.2%

Mar-12

9.9% 1.7%
408

Jun-12

Jul-12
8.1%

8.1% 6.1% 3.4% 3.3%

432 363 351

100%

100% 76.3% 81.0%

100.0%

351

203

187

205 87 118

182

50%

2007

2008

2009

2010

2011

1H08

2H08

1H09

2H09

1H10

2H10

1H11

2H11

1H12

Payout

Minim um Dividends Policy

Dividends

Interest on Equity

Dividend Yeld*

* Based on the closing price of the day before of the announcement.

32

Recent Events On July 12, 2012, the Company announced the hiring of Deloitte Touche Tohmatsu Auditores Independentes (Deloitte) to conduct the independent external audit of the Company and its subsidiaries, replacing KPMG Auditores Independentes (KPMG). Deloitte began its activities with the review of the quarterly information (ITR) for the second quarter of fiscal year 2012.

The Board of Directors meeting of July 13, 2012, approved and instructed the Companys representatives at the Extraordinary Shareholders Meeting of the subsidiaries Light Energia S.A. and Light Servios de Eletricidade S.A. to vote in favor of the latters 3rd and 8th issues, respectively, of unsecured, simple, non-convertible debentures, totaling up to thirty million reais (R$30,000,000.00) for the former and four hundred seventy million reais (R$470,000,000.00) for the latter. Both issues will be the object of a private offering.

The Board of Directors, in an extraordinary meeting held on August 07, approved the appointment of Paulo Roberto Ribeiro Pinto, current Business Development Officer, to succeed Jerson Kelman as Chief Executive Officer for the Company, in light of the end of his term of office. At the same meeting, all the other members of the Executive Board were reelected for a new 3-year term of office. The current Energy Officer, Evandro Leite Vasconcelos, was elected, also, to take office, temporarily and cumulatively, as Business Development Officer.

On August 07, the Federal Administrative Council of Tax Appeals (Carf) judged the case related to the foreign subsidiaries Light Overseas Investment Limited (LOI) and LIR Energy Limited (LIR), liquidated in 2008 and 2010, respectively. With a favorable judgment to the subsidiary Light Servios de Eletricidade (Light SESA), the tax assessment in the adjusted amount of R$529.4 million was dismissed, including fine and monetary restatement.

33

Disclosure Program

Schedule Teleconference 08/13/2012, Monday, at 4:00 p.m. (Brazilian Time) and at 3:00 p.m. (NY Time), with simultaneous translation to English Access conditions: Webcast: link on site www.light.com.br (portuguese and english) Conference Call - Dial number: Brazil: (55) 11 - 4688-6361 Other countries: +1 (786) 924 6977 Access code: Light

Disclaimer
The information on the Companys operations and its Managements expectations regarding its future performance has not been reviewed by the independent auditors. Forward-looking statements are subject to risks and uncertainties. These statements are based on beliefs and assumptions of our Management and on information currently available to the Company. Statements about future events include information about our intentions, beliefs or current expectations, as well as those of the Company's Board of Directors and Officers. Reservations related to statements and information about the future also include information about operating results, likely or presumed, as well as statements that are preceded by, followed by, or include words such as "believes," "might," "will," "continues," "expects," "estimates," "intends," "anticipates," or similar expressions. Statements and information about the future are not a guarantee of performance. They involve risks, uncertainties and assumptions because they refer to future events, thus depending on circumstances that might or might not occur. Future results and creation of value to shareholders might significantly differ from the ones expressed or suggested by forward-looking statements. Many of the factors that will determine these results and values are beyond LIGHT S.A.'s control or forecast capacity.

34

APPENDIX I Statement of Income by Company - R$ Million

LIGHT SESA Net operating revenue Operating expense Operating result EBITDA Financial Result Other Operating Incomes/Expenses Result before taxes and interest Net Income EBITDA Margin*
* Doesn't consider C onstruction Revenue.

2Q12 1,634.5 (1,537.0) 97.5 166.2 (102.9) (0.8) (6.2) 1.1 11.3%

2Q11 1,524.3 (1,421.3) 103.0 179.6 (81.9) (1.4) 19.7 18.9 13.4%

Var. % 7.2% 8.1% -5.3% -7.5% 25.6% -39.1% -94.3% -

1H12 3,411.1 (3,030.5) 380.5 528.2 (212.3) (4.1) 164.2 113.7 17.0%

1H11 3,257.5 (2,858.3) 399.1 551.8 (172.2) (1.3) 225.6 158.0 18.8%

% 4.7% 6.0% -4.7% -4.3% 23.3% 210.7% -27.2% -28.0% -

LIGHT ENERGIA Net operating revenue Operating expense Operating result EBITDA Financial Result Other Operating Incomes/Expenses Result before taxes and interest Net Income EBITDA Margin COMMERCIALIZATION Net operating revenue Operating expense Operating result EBITDA Financial Result Other Operating Incomes/Expenses Result before taxes and interest Net Income EBITDA Margin

2Q12 114.9 (42.3) 72.6 87.2 (19.3) (0.1) 53.3 36.0 75.9% 2Q12 69.8 (62.3) 7.5 7.6 0.0 7.5 5.1 10.9%

2Q11 77.5 (35.3) 42.2 56.4 (7.2) 35.0 21.5 72.8% 2Q11 56.7 (50.6) 6.1 6.3 0.4 17.1 4.4 11.1%

Var. % 48.3% 19.8% 72.1% 54.7% 167.5% 52.3% 67.2% Var. % 23.1% 23.2% 22.4% 21.4% -96.0% -56.1% 16.9% -

1H12 213.6 (80.5) 135.0 161.8 (39.9) 1.8 96.8 63.4 75.7% 1H12 118.2 (107.2) 11.0 11.4 0.1 11.1 7.4 9.7%

1H11 162.2 (71.8) 90.5 120.4 (18.2) (0.9) 71.3 49.0 74.2% 1H11 97.8 (89.6) 8.2 8.6 0.5 8.7 5.8 8.7%

% 31.7% 12.1% 49.1% 34.4% 119.3% 35.7% 29.4% % 20.9% 19.7% 33.7% 33.6% -87.9% 27.1% 27.7% -

35

APPENDIX II Statement of Consolidated Income

Consolidated - R$ MM NET OPERATING REVENUE OPERATING EXPENSE Personnel Material Outsourced Services Purchased Energy Depreciation Provisions Construction Revenue Others OPERATING RESULT() EBITDA () FINANCIAL RESULT Financial Income Financial Expenses Other Operating Incomes/Expenses RESULT BEFORE TAXES AND INTEREST SOCIAL CONTRIBUTIONS & INCOME TAX DEFERRED INCOME TAX

2Q12 1,797.9 (1,624.7) (70.5) (5.0) (104.9) (1,086.4) (82.6) (84.0) (162.2) (29.0) 173.2 255.8 (118.6) 68.3 (186.9) (0.9) 53.7 (33.6) 19.7

2Q11 1,637.9 (1,489.5) (75.4) (6.1) (107.6) (900.7) (92.4) (99.3) (179.2) (28.7) 148.4 240.8 (88.9) 57.9 (146.8) (1.4) 58.1 (23.7) 10.9

Var. % 9.8% 9.1% -6.5% -18.2% -2.5% 20.6% -10.6% -15.4% -9.5% 0.8% 16.7% 6.2% 33.5% 18.0% 27.4% -34.8% -7.6% 41.9% 80.6%

1H12 3,702.2 (3,185.3) (143.0) (8.9) (200.1) (2,133.9) (172.7) (171.0) (299.7) (56.0) 516.9 689.6 (246.6) 101.7 (348.3) (2.2) 268.1 (63.2) (25.0)

1H11 3,472.6 (2,980.1) (137.6) (12.4) (212.1) (1,894.3) (183.2) (160.6) (326.3) (53.6) 492.5 675.7 (185.5) 94.4 (279.9) (0.4) 306.7 (92.8) (2.2)

Var. % 6.6% 6.9% 3.9% -28.3% -5.6% 12.6% -5.8% 6.5% -8.2% 4.3% 5.0% 2.0% 33.0% 7.8% 24.5% 517.4% -12.6% -31.9% 1028.2%

NET INCOME 39.8 45.3 -12.3% 179.8 211.7 -15.0% () Operation Result, Administration vision = Operating Result, accounting norms (Item 1.9.7 of Notice CVM 01/2007) + financials (net financial expenses + equity pick-up). () EBITDA = Operating Result, Administration vision + depreciation and amortization. Not reviewable by the external audit. (*) The consolidated financial statements include the Light S.A. and its subsidiaries and affiliates. These financial statements were eliminated from equity consolidated companies, the balances of receivables and payables, revenues and expenses between the companies.

36

APPENDIX III Consolidated Balance Sheet

Consolidated Balance Sheet - R$ MM ASSETS Circulating Cash & Cash Equivalents Receivable Accounts Inventories Recoverable Taxes Prepaid Expenses Other Current Assets Non Circulating Receivable Accounts Deferred Taxes Prepaid Expenses Others Non-current Assets Investiments Fixed Assets Intangible Total Assets LIABILITIES Circulating Suppliers Fiscal obligations Loans and Financing Debentures Others Obligations Provisions Dividends and interest on equity to be paid Non Circulating Loans and Financing Debentures Others Obligations Deferred Taxes Provisions Shareholders' Equity Realized Joint Stock Profit Reserves Legal Reserve Profits Retention Additional Proposed Dividend Asset Valuation Adjustments Accumulated Profit/Loss of Exercise Total Liabilities 06/30/2012 2,447.3 538.4 1,300.8 29.3 261.2 13.5 304.0 8,474.2 242.7 781.7 0.0 1,221.1 59.5 2,091.2 4,077.9 10,921.5 6/30/2012 2,107.5 731.1 148.6 311.8 252.4 316.5 165.7 181.5 5,594.3 1,821.8 1,669.0 1,333.0 238.6 531.8 3,219.7 2,225.8 341.7 178.3 163.4 0.0 461.9 190.3 10,921.5 12/31/2011 2,726.9 780.7 1,383.6 27.4 270.6 2.2 262.3 8,254.8 298.5 811.5 0.3 1,029.3 54.1 1,985.8 4,075.3 10,981.7 12/31/2011 1,987.1 757.2 169.7 305.3 213.7 307.7 159.7 73.7 5,773.2 1,854.7 1,790.1 1,369.3 243.3 515.7 3,221.4 2,225.8 341.7 178.3 163.4 181.5 472.4 0.0 10,981.7

37

APPENDIX IV Regulatory Assets and Liabilities

R$ Million TOTAL ASSET TOTAL LIABILITIES TOTAL DIFFERENCE Net differenc e (period) Net differenc e (accumulated)

Jun-12 Mar-12 dec/11 174.4 (76.0) 98.4 75.7 73.6 177.8 (155.1) 22.7 (2.1) 185.3 (160.6) 24.8 32.1 87.2

Sep/11 151.2 (158.6) (7.4) 114.9 55.0

Jun-11 Mar-11 134.3 (256.6) (122.2) 5.6 (59.8) 149.8 (277.7) (127.8) (65.4) -

Light by Numbers

OPERATING INDICATORS N of Consumers (thousand) N of Employees Average provision tariff - R$/MWh Average provision tariff - R$/MWh (w/out taxes) Average energy purchase cost - R$/MWh Installed generation capacity (MW) Assured energy (Average MW)) Pumping and internal losses (Average MW) Available energy (Average MW) Net Generation (GWh) Load Factor Does not include purchase on spot.

2Q12 4,059 4,209 444.4 307.2 116.2 879 653 87 566 1,170 65.3%

2Q11 4,069 3,825 418.8 283.2 103.6 855 637 87 550 1,240 64.6%

Var. % -0.2% 10.0% 6.1% 8.5% 12.3% 3.0% -5.6% -

38

LIGHT S.A.
BALANCE SHEETS (In Thousands of Reais)

ASSETS Cash and cash equivalents Short-tem investment Investments valued at fair value Consumers, concessionaires, permissionaires and clients Inventories Taxes and contributions Income tax and social contribution Prepaid expenses Dividends and interest on own equity receivable Services receivable Receivables from swap Other receivables TOTAL CURRENT ASSETS Consumers, concessionaires, permissionaires and clients Taxes and contributions Deferred taxes Prepaid expenses Financial assets from concessions Escrow deposits Receivables from swap Other receivables Investments Interest in Subsidiaries and joint ventures Other Shareholding Property, plant and equipment Assets in operation Construction in progress Intangible assets Concession agreement Other TOTAL NON-CURRENT ASSETS TOTAL ASSETS

Notes 4 5 6 7 8

Parent Company 6/30/2012 12/31/2011 35,182 1,446 63 115,771 150 5,967 158,579 55,057 3,395 182 78,510 150 13,763 151,057 215 3,155,002 3,152,914 2,088 672 672 3,155,889 3,306,946

Consolidated 6/30/2012 12/31/2011 522,960 15,479 15,479 1,300,798 29,258 83,523 3,854 13,539 121,267 5,036 177,716 2,273,430 242,733 192,350 781,742 38 817,967 282,066 22,623 2,806 59,470 59,470 2,091,213 1,568,448 522,765 4,077,934 3,763,853 314,081 8,570,942 10,844,372 772,548 8,171 8,171 1,383,620 27,430 158,962 111,649 2,180 84,964 3,801 173,550 2,726,875 298,538 95,622 811,464 263 656,473 268,505 754 7,979 54,086 54,086 1,985,833 1,395,320 590,513 4,075,268 3,751,772 323,496 8,254,785 10,981,660

31 11

6 7 9 10 19 31 11 12

13

14

266 3,244,857 3,242,769 2,088 672 672 3,245,795 3,404,374

The notes are an integral part of the financial statements.

39

LIGHT S.A.
BALANCE SHEETS

(In Thousands of Reais)

Parent Company 6/30/2012 12/31/2011 Consolidated 6/30/2012 12/31/2011

Notes LIABILITIES Suppliers Taxes and contributions Income tax and social contribution Loans, financing and financial charges In local currency In foreign currency Debentures and financial charges Swap payables Dividends and interest on own equity payable Estimated liabilities Regulatory charges Post-employment benefits Other liabilities TOTAL CURRENT LIABILITIES Loans, financing and financial charges In local currency In foreign currency Debentures and financial charges Swap payables Taxes and contributions Deferred taxes Provision for contingencies Tax provisions Social security and labor provisions Civil provisions Other provisions Post-employment benefits Other liabilities TOTAL NON-CURRENT LIABILITIES SHAREHOLDERS' EQUITY Capital Profit reserves Legal reserve Profit retention Additional proposed dividends Equity valuation adjustments Retained earnings TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 24 16

15 7 8 16

17 31 24 18 21 22

290 82 5 181,501 254 2,535 184,667 -

197 8,911 2 73,741 233 2,488 85,572 -

731,080 41,605 29,863 311,772 302,377 9,395 252,423 181,501 49,501 116,165 112,975 203,480 2,030,365 1,821,840 1,589,766 232,074 1,668,981 199,189 238,618 531,826 193,993 132,738 175,256 29,839 979,424 154,422 5,594,300

757,158 108,760 60,974 304,554 292,241 12,313 213,740 787 73,741 47,379 112,356 80,525 227,154 1,987,128 1,853,748 1,634,052 219,696 1,790,132 976 200,263 243,335 515,678 186,478 150,121 163,572 15,507 1,015,615 153,411 5,773,158

17 31 7 9 19

21 22

2,225,822 178,288 163,407 461,929 190,261 3,219,707 3,404,374

2,225,822 178,288 163,407 181,501 472,356 3,221,374 3,306,946

2,225,822 178,288 163,407 461,929 190,261 3,219,707 10,844,372

2,225,822 178,288 163,407 181,501 472,356 3,221,374 10,981,660

The notes are an integral part of the financial statements.

40

LIGHT S.A. STATEMENT OF INCOME PERIODS ENDED JUNE 30 (In thousands of reais)
Parent Company 4/1/2012 to 6/30/2012 Net Operating Revenue Cost of Operation Gross Profit Expenses/Operating Income Selling Expenses General and Administrative Expenses Other Operating Income Other Operating Expenses 38,551 (3,607) 1/1/2012 to 6/30/2012 177,578 (6,740) 4/1/2011 to 6/30/2011 42,489 (2,876) 4/1/2011 to 6/30/2011 207,333 (5,422) 4/1/2012 to 6/30/2012 1,797,890 (1,421,450) 376,440 (204,114) (101,200) (102,007) (907) Consolidated 1/1/2012 to 6/30/2012 3,702,183 (2,781,544) 920,639 (405,960) (189,684) (214,041) (2,235) 4/1/2011 to 6/30/2011 1,637,924 (1,266,950) 370,974 (223,957) (109,715) (112,851) (1,391) 1/1/2011 to 6/30/2011 3,472,601 (2,582,058) 890,543 (398,372) (202,250) (195,760) (362)

Equity pickup in The Earnings of Subsidiaries and Joint Ventures Earnings Before Financial Result and Taxes Financial Financial Income Financial Expenses Income before taxes on income Income Tax and Social Contribution on Profit Current Deferred Net Income from Continuing Operations Profit / Loss for the Period Attributed to controlling shareholders Earnings per share(Real / Share ) Basic earnings per share ON Diluted earnings per share ON

42,158 38,551 1,221 1,249 (28) 39,772 39,772 39,772 39,772

184,318 177,578 2,256 2,353 (97) 179,834 179,834 179,834 179,834

45,365 42,489 2,851 2,925 (74) 45,340 45,340 45,340 45,340

212,755 207,333 4,332 4,540 (208) 211,665 211,665 211,665 211,665

172,326 (118,609) 68,338 (186,947) 53,717 (13,945) (33,930) 19,985 39,772 39,772 39,772

514,679 (246,590) 101,728 (348,318) 268,089 (88,255) (63,231) (25,024) 179,834 179,834 179,834

147,017 (88,876) 57,908 (146,784) 58,141 (12,801) (23,723) 10,922 45,340 45,340 45,340

492,171 (185,473) 94,391 (279,864) 306,698 (95,033) (92,836) (2,197) 211,665 211,665 211,665

0.195 0.195

0.882 0.882

0.222 0.222

1.038 1.038

0.195 0.195

0.882 0.882

0.222 0.222

1.038 1.038

The notes are an integral part of the financial statements.

LIGHT S.A. STATEMENT OF COMPREHENSIVE INCOME SIX- MONTH PERIOD ENDED JUNE 30 (In thousands of reais)

4/1/2012 to 6/30/2012
Net income for the period Other comprehensive income 39,772 -

Parent Company 1/1/2012 to 4/1/2011 to 6/30/2012 6/30/2011

179,834 45,340 -

4/1/2011 to 6/30/2011
211,665 -

4/1/2012 to 6/30/2012
39,772 -

Consolidated 1/1/2012 to 4/1/2011 to 6/30/2012 6/30/2011

179,834 45,340 -

1/1/2011 to 6/30/2011
211,665 -

TOTAL COMPREHENSIVE INCOME Attributed to controlling shareholders

39,772 39,772

179,834 179,834

45,340 45,340

211,665 211,665

39,772 39,772

179,834 179,834

45,340 45,340

211,665 211,665

The notes are an integral part of the financial statements.

41

LIGHT S.A. STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - PARENT COMPANY AND CONSOLIDATED SIX-MONTH PERIOD ENDED JUNE 30 (In thousands of reais)

PROFIT RESERVES

BALANCE ON DECEMBER 31, 2011

Equity valuation adjustment Net income for the period Dividends aproved at the Annual Shareholders' Meeting

CAPITAL STOCK 2,225,822

-

LEGAL RESERVE 178,288

-

PROFIT RETENTION 163,407

-

ADDITIONAL DIVIDENDS PROPOSED 181,501

(181,501)

EQUITY RETAINED EARNINGS/ VALUATION (ACCUMULATED) ADJUSTMENT LOSSES 472,356 (10,427) 10,427 179,834 -

TOTAL 3,221,374
179,834 (181,501)

BALANCE ON JUNE 30, 2012

2,225,822

178,288

163,407

461,929

190,261

3,219,707

The notes are an integral part of the financial statements.

LIGHT S.A. STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - PARENT COMPANY AND CONSOLIDATED SIX-MONTH PERIOD ENDED JUNE 30 (In thousands of reais)

PROFIT RESERVES CAPITAL STOCK 2,225,822

-

BALANCE ON DECEMBER 31, 2010

Dividends paid - profits reserve Realization of revaluation reserve Net income for the year

LEGAL RESERVE 162,756

-

PROFIT RETENTION 233,083

11,207 -

ADDITIONAL DIVIDENDS PROPOSED 214,381

(214,381) -

EQUITY RETAINED EARNINGS/ VALUATION (ACCUMULATED) ADJUSTMENT LOSSES 494,102 (11,207) 211,665

TOTAL 3,330,144
(214,381) 211,665

BALANCE ON JUNE 30, 2011 The notes are an integral part of the financial statements.

2,225,822

162,756

244,290

482,895

211,665

3,327,428

42

LIGHT S.A. STATEMENT OF CASH FLOWS SIX- MONTH PERIOD ENDED JUNE 30 (In thousands of reais) Parent Company 1/1/2012 to 1/1/2011 to 6/30/2012 6/30/2011 Net income before income and social contribution taxes Adjustments of expenses/ (revenues) not affecting cash Allowance for doubtful accounts Depreciation and amortization Loss (gain) from the sale of intangible assets/Property, plant and equipment Exchange losses (gains) from financial activities Restatement of contingencies Adjustment of receivables to present value Interest expenses over loans Charges and monetary variation on post-employment liabilities Provision for / (Reversal of ) contingencies - liabilities Equity pickup in The Earnings of Subsidiaries and Joint Ventures (Increase)/Decrease in Assets Securities Consumers, concessionaires, permissionaires and clients Dividends received Deferred taxes and contributions Inventories Receivables from services rendered Prepaid expenses Escrow deposits Dividends received Other Increase/(Decrease) in liabilities Suppliers Estimated liabilities Deferred taxes and contributions Sector charges Provisions Post-employment benefits Other liabilities Interests paid Income and social contribution taxes paid Net cash from operating activities Cash flow from investment activities Receivables from the sale of property, plant and equipment Acquisition of property, plant and equipment Acquisition of intangible assets Additions to/acquisition of investment Net cash used in investment activities Cash flow from financing activities Dividends and interest on equity paid Loans and borrowings Amortization of loans and borrowings Net cash used in financing activities Increase (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of year Cash and cash equivalents at the end of year Changes in cash and cash equivalents 179,834 211,665 Consolidated 1/1/2012 to 1/1/2011 to 6/30/2012 6/30/2011 268,089 306,698

(184,318)

(212,755)

133,855 172,678 2,235 15,769 15,853 29,054 189,596 60,226 37,178 -

143,882 183,214 362 276 18,968 (5,769) 153,610 74,181 11,783 -

74,686 2,702 119 (51) 7,697

420,473 (350) 102 (14) (16,073)

(7,308) (24,282) (49,172) (1,828) (36,302) (11,134) (13,561) (27,480)

(45) (71,547) 4,331 (2,818) (17,681) (11,325) (14,787) (16,632)

93 19 (8,826) 53 72,008

(184) 9 29 1,130 404,032

(88,455) 2,120 33,477 3,809 (38,202) (63,967) (23,965) (150,708) (60,389) 367,186

(109,007) 3,257 (147,807) 1,865 (49,383) (50,964) (7,261) (112,570) (117,828) 167,003

(17,486) (17,486)

(11,020) (11,020)

1,743 (147,352) (235,609) (381,218)

4,652 (42,916) (332,665) (5,777) (376,706)

(74,397) (74,397) (19,875) 55,057 35,182 (19,875)

(350,979) (350,979) 42,033 38,295 80,328 42,033

(73,741) 46,453 (208,268) (235,556) (249,588) 772,548 522,960 (249,588)

(350,979) 875,224 (391,786) 132,459 (77,244) 514,109 436,865 (77,244)

The notes are an integral part of the financial statements.

43

LIGHT S.A. STATEMENT OF VALUE ADDED SIX-MONTH PERIOD ENDED JUNE 30 (In thousands of reais) Parent Company 1/1/2012 to 1/1/2011 yo 6/30/2012 6/30/2011 Revenues
Sales of goods, products and services Revenues from construction of infrastructure Allowance/Reversal for doubtful accounts

Consolidated 1/1/2012 to 1/1/2011 yo 6/30/2012 6/30/2011 5,493,143

5,327,327 299,671 (133,855)

5,138,473
4,956,088 326,267 (143,882)

Input acquired from third parties

Costs of products, goods and services sold Material energy outsourced services other Infrastructure construction costs

(4,743)
(4,743) -

(3,268)
(3,268) -

(2,688,407)
(2,133,925) (261,491) (292,991)

(2,477,457)
(1,894,299) (256,891) (326,267)

Gross value added Retentions

Depreciation and amortization

(4,743) -

(3,268) -

2,804,736 (172,678)
(172,678)

2,661,016 (183,184)
(183,184)

Net value added produced Value added received in transfers

Equity in the earnings of subsidiaries Financial income

(4,743) 186,671
184,318 2,353

(3,268) 217,294
212,755 4,539

2,632,058 105,660
105,660

2,477,832 94,746
94,746

Total value added to distribute Distribution of value added Personnel

Direct compensation Benefits Government Severance Fund for Employees (FGTS) Other

181,928 181,928 1,887

1,793 52 42 -

214,026 214,026 2,065

1,889 57 119 -

2,737,718 2,737,718 121,485

89,675 21,195 7,745 2,870

2,572,578 2,572,578 118,605

91,295 17,702 7,821 1,787

Taxes, fees and contributions

Federal State Municipal

122
122 -

86
86 -

2,044,799
826,033 1,214,049 4,717

1,935,485
731,136 1,200,115 4,234

Value distributed to providers of capital

Interest Rental Other

85
85 -

210
208 2 -

391,600
358,703 21,512 11,385

306,823
279,237 16,653 10,933

Value distributed to shareholders

Retained earnings

179,834
179,834

211,665
211,665

179,834
179,834

211,665
211,665

The notes are an integral part of the financial statements.

44

TABLE OF CONTENTS 1. OPERATIONS 2. GROUP'S ENTITIES 3. APPROVAL AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICES APPLIED IN PREPARINGTHE QUARTERLY INFORMATION - ITR 4. CASH AND CASH EQUIVALENTS 5. SHORT-TERM INVESTMENTS 6. CONSUMERS, CONCESSIONAIRES, PERMISSIONAIRES AND CLIENTS 7. TAXES AND CONTRIBUTIONS 8. INCOME TAX AND SOCIAL CONTRIBUTION 9. DEFERRED TAXES 10. CONCESSIONS FINANCIAL ASSETS 11. OTHER RECEIVABLES 12. INVESTMENTS 13. PROPERTY, PLANT AND EQUIPMENT 14. INTANGIBLE ASSETS 15. SUPPLIERS 16. LOANS FINANCING AND FINANCIAL CHARGES 17. DEBENTURES AND FINANCIAL CHARGES 18. REGULATORY CHARGES 19. PROVISIONS 20. CONTINGENCIES 21. POST-EMPLOYMENT BENEFITS 22. OTHER PAYABLES 23. RELATED-PARTY TRANSACTIONS 24. SHAREHOLDERS' EQUITY 25. EARNINGS PER SHARE 26. NET OPERATING REVENUE 27. ELECTRIC POWER SUPPLY 28. OPERATING COSTS AND EXPENSES 29. ELECTRIC POWER PURCHASED FOR RESALE 30. FINANCIAL INCOME 31. FINANCIAL INSTRUMENTS AND RISK MANAGMENT 32. INSURANCE 33. REPORTABLE SEGMENT 34. LONG-TERM INCENTIVE PLAN 35. SUBSEQUENT EVENTS

45

NOTES TO THE QUARTERLY INFORMATION ENDED JUNE 30th, 2012 (In thousands of Brazilinan Reais - R$ unless otherwise stated)

1. OPERATIONS The corporate purpose of Light S.A. (Company), a publicly-held company headquartered in the City of Rio de Janeiro/RJ - Brazil, is to hold equity investments in other companies, as partner or shareholder, and is involved in the direct or indirect exploration, as applicable, of electric power services, including electric power generation, transmission, sale and distribution systems, as well as other related services. The Company is listed in the New Market (Novo Mercado) of the So Paulo Stock Exchange (BM & F Bovespa) under the ticker LIGT3 and in the U.S. over-thecounter market under the ticker LGSXY. Light Groups concessions and authorizations effective on June 30th, 2012 as follows:
Concessions / grants Generation, Transmission and Distribution PCH Paracambi Itaocara Hydroelectric Power Plant Wind Power Plants - Renova Wind Power Plants - Renova Wind Power Plants - Renova Date Jul/1996 Feb/2001 Mar/2001 Aug/2011 Mar/2011 to May/2011 Apr/2012 Expiration Jun/2026 Feb/2031 Mar/2036 Aug/2045 Mar/2046 to May/2046 Apr/2047

2. GROUP ENTITIES a) Direct Subsidiaries Light Servios de Eletricidade S.A. (Light SESA 100%) - Publicly-held corporation engaged in the distribution of electric power, with a concession area comprising 31 cities in the State of Rio de Janeiro, including its capital. Light Energia S.A. - (Light Energia 100%) - Privately-held corporation, headquartered in the city of Rio de Janeiro, whose main activity is to (a) study, plan, construct, operate and exploit systems of electric power generation, transmission, sales, and related services that have been legally granted or to be granted or authorized or to companies with which it holds or to hold controlling interest; (b) to hold investments in other companies as a partner, shareholder or quotaholder. It comprises the Pereira Passos, Nilo Peanha, Ilha dos Pombos, Santa Branca and Fontes Nova plants, with a total installed capacity of 855 MW. Light Energia holds investments in the following subsidiaries: Central Elica So Judas Tadeu Ltda. (So Judas Tadeu 100%) - Company at a start-up stage whose main activity is the generation and sale of electric power through an wind power plant located in the State of Cear, with 18 MW nominal power. Central Elica Fontainha Ltda. (Fontainha 100%) - Company at a start-up stage whose main activity is the generation and sale of electric power

46

through an wind power plant located in the State of Cear, with 16 MW nominal power. Renova Energia S.A. (Renova Energia 25.8% interest held, joint venture) a listed corporation whose main activity is the generation of electric power through renewable alternative sources, such as, small hydroelectric power plants (PCHs) and wind power plants. Renova Energia holds direct or indirect investments totaling 42 MW in operation and 1,068 MW contracted. The companies in which Renova Energy holds investments are presented as follows:
RENOVA - Interest Enerbras Centrais Eltricas S.A. Energtica Serra da Prata S.A. Rnova PCH Ltda. Nova Renova Energia S.A. Bahia Elica Participaes S.A. Renova Elica Participaes S.A. Centrais Elicas Candiba S.A. Centrais Elicas Ilhus S.A. Centrais Elicas Igapor S.A. Centrais Elicas Licnio de Almeida S.A. Centrais Elicas N. Sra. Conceio S.A. Salvador Elica Participaes S.A. Centrais Elicas Alvorada S.A. Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Elicas Elicas Elicas Elicas Elicas Elicas Elicas Elicas Elicas Elicas Elicas Elicas Elicas Guanambi S.A. Guirp S.A. Rio Verde S.A. Serra do Salto S.A. Pinda S.A. Paje do Vento S.A. Planaltina S.A. Porto Seguro S.A. Ametista Ltda. dos Araas Ltda. Caetit Ltda. Espigo Ltda. Piles Ltda. Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Centrais Elicas So Salvador Ltda. Elicas Ventos do Nordeste Ltda. Elicas da Prata Ltda. Elicas Tanque Ltda. Elicas Serra do Espinhao Ltda. Elicas Serama Ltda. Eltricas Pelourinho Ltda. Eltricas Morro Ltda. Eltricas Maron Ltda. Eltricas Itaparica Ltda. Eltricas Dourados Ltda. Eltricas Botuquara Ltda. Eltricas Borgo Ltda.

Light Esco Prestao de Servios S.A. - (Light Esco 100%) Privately-held corporation , headquartered in the city of Rio de Janeiro - RJ, whose main activity is the purchase, sale, import, export and advisory services in the energy sector. Light Esco holds investments in the following joint venture interests: EBL Companhia de Eficincia Energtica S.A. (EBL 33.3% of the jointventure) a company engaged in providing services and energy efficiency solutions, rental of equipment and facilities at units owned or rented by Telemar Norte Leste S.A.

Lightcom Comercializadora de Energia S.A. (Lightcom 100%) Privately-held corporation, headquartered in the city of So Paulo - SP, engaged in the purchase, sale, import, export and provision of advisory services in the energy segment. Itaocara Energia Ltda. - (Itaocara Energia 100%) Company in the start-up stage, primarily engaged in the execution of project, construction, installation, operation and exploration of electric power generation plants. It holds investment in UHE Itaocara consortium for the exploration of Itaocara Hydroelectric Power Plant (51%). Light Solues em Eletricidade Ltda. (Light Solues - 100%) Limited liability company whose main activity is to provide services to clients, including assembly, improvement and maintenance of installations in general. Instituto Light para o Desenvolvimento Urbano e Social (Light Institute - 100%) Non-profit private limited company, engaged in social and cultural projects, for the development of the cities economic and social environment which reinforce the Companys ability to be socially responsible. b) Investment in Joint Ventures

47

Lightger S.A. (Lightger) A privately held company, and the main operation is is to participate in auctions for concession, authorization and permission for new power eletric plants. On December 24th, 2008, Lightger obtained the installation license that authorized the start the construction of Paracambi small hydroelectric power plant (PCH). The first turbinewill start the operation in the second quarter of 2012. The joint controlled interest owned by Light S.A is 51% and by Cemig Gerao e Transmisso S.A. - Cemig GT is 49%. Axxiom Solues Tecnolgicas S.A. (Axxiom) Privately-held corporation, headquartered in the city of Belo Horizonte MG and the purpose of Axxion is to offer technology solutions and systems for operating management of public utilities companies, including electric power, gas, water and sewage and other public utilities. It is joint controlled interest owned by Light S.A. is 51% and Companhia Energtica de Minas Gerais - CEMIG is 49%. CR Zongshen E-Power Fabricadora de Veculos S.A. (E-Power) A privately-held corporation and jointly controlled, in the start up stage, the purpose of which is to manufacture Kasinski two-wheel electric vehicles. Light S.A. and CR Zongeshen Fabricadora de Veculos S.A., referred to as Kasinski are the two shareholders of E-Power with 20% and 80% interest, respectively, registered as common shares. Amaznia Energia Participaes S.A. (Amaznia Energia) Privately-held corporation, the purpose of Amaznia Energia is to hold investments, as shareholder, of Norte Energia S.A. (NESA), which holds the concession for the use of public utiliities to explore Belo Monte Hydroelectric Power Plant, in Xingu river, in the State of Par. Amaznia Energia is a joint controlled interest owned by Light S.A. is 25.5% and by Cemig Gerao e Transmisso S.A. - Cemig GT is74.5%. Amaznia Energia holds a 9.77% interest in NESA.

c) Light Group Consolidated Entities The consolidated quarterly information includes participation in its subisitiaries as follows:
6/30/2012 Percentage of Percentage of interest (%) interest (%) Direct Indirect Light Servios de Eletricidade S.A. Light Energia S.A. Central Elica Fontainha Ltda Central Elica So Judas Tadeu Ltda Renova Energia S.A. Light Esco Prestao de Servios S.A. EBL Companhia de Eficincia Energtica S.A. Lightcom Comercializadora de Energia S.A. Light Solues em Eletricidade Ltda. Instituto Light para o Desenvolvimento Urbano e Social Itaocara Energia Ltda. Lightger S.A. Axxiom Solues Tecnolgicas S.A. Amaznia Energia Participaes S.A. CR Zongshen E-Power Fabricadora de Veculos S.A. 100.0 100.0 100.0 100.0 100.0 100.0 100.0 51.0 51.0 25.5 20.0 100.0 100.0 25.8 33.3 12/31/2011 Percentage of Percentage of interest (%) interest (%) Direct Indirect 100.0 100.0 100.0 100.0 100.0 100.0 100.0 51.0 51.0 25.5 20.0 100.0 100.0 25.9 33.3 -

48

3. APPROVAL AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES APPLIED IN THE PREPARING THE QUARTERLY INFORMATION - ITR

The approval and authorization of these quarterly financial statements was given by the Companys Board of Directors at August 9th, 2012. The Companys Quarterly Information - ITR has been prepared for the three and six- month periods ended June 30, 2012 and are prepared in accordance with IAS (International Accounting Standards) 34 which corresponds to CPC 21 under Brazilian Committee on accounting standards for interim financial statements. IAS 34 requires the use of certain accounting estimates by the Company's Management. The consolidated Quarterly Financial Information - ITR has been prepared using historical cost basis accounting, except for certain financial assets and liabilities which are measured at fair value. The parent company interim financial information was prepared in accordance with the accounting practices adopted in Brazil, CPC 21, which deals with interim financial statements. The parent company financial information is prepared for statutory purposes where investments in subsidiaries are measured by the equity method of accounting, according to Brazilian legislation. Thus, these parent company financial statements have not been prepared under the IFRS which require the evaluation oft these investments in separate financial statements of parent at fair value or cost. The parent company and consolidated Quarterly Information ITR do not include all the information or disclosures required for annual parent company and consolidated financial statements, therefore, they must be read together with the parent company and consolidated financial statements for the year ended December 31st, 2011, filed on March 9, 2012, which were prepared according to the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and also according to the accounting practices adopeted in Brazil (BR GAAP). There were no changes in the accounting practices adopted on December 31, 2011 to June 30, 2012.

49

The Company has choosen to present the parent company and consolidated interim financial information as a single set of side-by-side accounts, since there is no difference between the parent and consolidated shareholders equity and the net income.

4. CASH AND CASH EQUIVALENTS

Parent Company 6/30/2012 12/31/2011 Cash and bank deposit Short term investment Bank deposit certificate (CDB) Total 213 34,969 35,182 152 54,905 55,057 Consolidated 6/30/2012 12/31/2011 38,799 484,161 522,960 81,138 691,410 772,548

The short-term investments are highly liquid and convertible into know amounts cash and are subject a floating rate represented by transactions purchased from financial institutions trading in the domestic financial market, at regular market terms and rates. These short-term investments have a daily repurchase commitment by the counterparty financial institution (the repurchase rate is previously agreed upon by the parties), involve insignificant credit exposures, and yield according to the variation of the interbank deposit rate (CDI), without relevant loss of income in case of early redemption. The average return on these investments is 101% of CDI. The Company's exposure to interest rate risks and a sensitivity analysis of financial assets and liabilities are reported in Note 31. 5. SHORT TERM INVESTMENTS

These short-investments are subject a floating rate bank deposit certificates (CDB), for the amount of R$15,479 (R$8,171 on December 31st, 2011) in the consolidated quarterly information, forming the underlying assets of certain surety bonds pledged in power auctions, and also other proceeds from the sale of assets that were held for reinvestment in the electric network infraestructure system or investments to mature within more than three months with significant loss of income in case of early redemption. The average return on these investments is 101% of CDI.

50

6. CONSUMERS, CONCESSIONAIRES, PERMISSIONAIRES AND CLIENTS

CURRENT Billed sales Unbilled sales Debt payment by installments Other receivables

Consolidated 6/30/2012 12/31/2011 1,576,438 298,587 138,280 2,753 2,016,058 1,756,814 295,153 171,227 238 2,223,432 7,083 48,510 55,593 (895,405) 1,383,620

Sales within the scope of CCEE Supply and charges related to the use of electric network

14,835 46,720 61,555

(-) Allowance for doubtful accounts TOTAL CURRENT NON-CURRENT Debt payment by installments Other receivables TOTAL NON-CURRENT

(776,815) 1,300,798

216,052 26,681 242,733

267,530 31,008 298,538

The balances of debt payment by installments were adjusted to their present value, as applicable. The present value is determined for each relevant consumer debt renegotiation (debt repayment facilities) based on such interest rate as will reflect the term and risk associated with each individual transaction, on average 1% per month. The balance includes the present value of repayment agreement with installment antecipate options (these options, once exercised, give customers a discount on any antecipate installment). In May 2012, an option exercised resulted in financial expense of R$30,913. An allowance for doubtful accounts was set up based on certain premises and in an amount deemed sufficient by Management to meet any asset realization losses. In the second quarter of 2012, bad debts were written-off in the total amount of R$52,405 (R$252,445 in six months of 2012) mainly related to overdue bills for a long time, and within tax deductibility criteria. The write-offs were accounted for against allowance for doubtful accounts already recorded, thus, not resulting gain or loss in the net income for the quarter.

51

The receivables and overdue balances are in connection with invoiced electric power sales and also debt repayment programs that are summarized as follows:
Maturing balance 232,563 21,614 145,914 609 45,021 13,877 129,086 588,684 Matured balances Overdue up Overdue over to 90 days 90 days 138,459 11,286 42,944 342 22,854 2,168 1,031 219,084 522,770 149,696 305,743 680 111,320 24,653 8,140 1,123,002 TOTAL 6/30/2012 893,792 182,596 494,601 1,631 179,195 40,698 138,257 1,930,770 12/31/2011 1,076,732 190,982 503,736 1,668 163,060 38,713 220,680 2,195,571 Allowance for doubtful accounts 6/30/2012 (517,157) (35,332) (219,956) (585) (3,773) (12) (776,815) 12/31/2011 (615,747) (38,768) (236,649) (589) (3,642) (10) (895,405)

Billed sales and renegotiated debts Residential Industrial Commercial Rural Public sector Public lighting Public utility Total - current and non-current

Changes in consolidated allowance for doubtful accounts in the periods.

Balance on December 31, 2011 Additions/Reversals Write-offs Balance on June 30, 2012

895,405 133,855 (252,445) 776,815

Balance on December 31, 2010 Additions/Reversals Write-offs Balance on June 30, 2011

1,058,502 143,882 (2,603) 1,199,781

The Companys exposure to credit risks related to consumers, concessionaires, permissionaires and clients is reported in Note 31.

52

7. TAXES AND CONTRIBUTIONS

CURRENT PIS/COFINS payable ICMS payable Other Total

Parent Company Liabilities 6/30/2012 12/31/2011 12 70 82 8,843 12 56 8,911

CURRENT ICMS recoverable ICMS payable Installment Payments - Law 11,941/09 (a) PIS/COFINS recoverable PIS/COFINS payable Other Total NON-CURRENT Installment Payment - Law 11,941/09 (a) ICMS recoverable Total

Consolidated Assets Liabilities 6/30/2012 12/31/2011 6/30/2012 12/31/2011 61,570 2,928 19,025 83,523 107,634 33,296 18,032 158,962 4,556 17,575 6,425 13,049 41,605 13,669 16,924 63,368 14,799 108,760

192,350 192,350

95,622 95,622

199,189 199,189

200,263 200,263

The Tax Installment Payment - Law 11,941/09, as consolidated by the Federal Revenue Service on June 27, 2011, the subsidiary Light SESA has been paying monthly installments, which totaled R$8,923 in the six-month period (R$5,049 in the first six months of 2011). The installment balance is restated by SELIC rate, whose amount recorded in the income statement for the six months period is R$8,500 (R$7,898 in the six months period of 2011). 8. INCOME TAX AND SOCIAL CONTRIBUTION
Parent Company Assets Liabilities 6/30/2012 12/31/2011 6/30/2012 12/31/2011 1,446 1,446 3,380 15 3,395 5 5 2 2

CURRENT Tax credits IRPJ and CSLL IRRF (Withholding Income Tax) payable Prepaid IRPJ/CSLL Total

CURRENT Tax credits IRPJ and CSLL IRRF (Withholding Income Tax) payable Prepaid IRPJ/CSLL Provision for IRPJ/CSLL Total

Consolidated Assets Liabilities 6/30/2012 12/31/2011 6/30/2012 12/31/2011 3,854 3,854 13,606 98,043 111,649 437 29,426 29,863 620 60,354 60,974

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9. DEFERRED TAXES

Consolidated 6/30/2012 ASSETS Income Tax Tax losses Temporary differences Social Contribution Tax loss carryforward Temporary differences Total non-current assets Basis of calculation Deferred tax 12/31/2011 Basis of calculation Deferred tax

881,525 1,408,815 915,158 1,408,815

220,381 352,203 82,364 126,794 781,742

894,750 1,483,008 928,383 1,483,008

223,688 370,752 83,553 133,471 811,464

Consolidated 6/30/2012 LIABILITIES Income Tax Temporary differences Social Contribution Temporary differences Total non-current liabilities Basis of calculation Deferred tax 12/31/2011 Basis of calculation Deferred tax

701,818 701,818

175,454 63,164 238,618

715,692 715,692

178,923 64,412 243,335

The temporary non-deductable differences basis breakdown is as follows:

Consolidated 6/30/2012 12/31/2011 IR / CSLL IR / CSLL 739,032 15,021 131,442 194,451 197,905 125,610 5,354 1,408,815 874,785 18,749 148,641 185,981 186,731 53,829 14,292 1,483,008

ASSETS Allowance for doubtful accounts Provision for bonus Provision for labor contingencies Provision for tax contingencies Provision for civil contingencies Impacts resulting from the adoption of the new CPCs Other provisions TOTAL - ASSETS LIABILITIES Deemed cost - Light Energia TOTAL - LIABILITIES

701,818 701,818

715,692 715,692

54

Reconciliation of effective and nominal rates in the provision for income tax and social contribution:
Consolidated 6/30/2012 6/30/2011 Earnings before income and social contribution taxes (LAIR) Combined rate of income and social contribution taxes Income and social contribution taxes to the tax rates under current regulation Effect of income and social contribution taxes over permanent additions and exclusions Unrecognized deferred tax credits CVM n 371/02 - Light S.A. Income and social contribution taxes - Lightger - presumed profit Tax incentives Other Income and social contribution taxes Current income and social contribution taxes in profit and loss Deferred income and social contribution taxes in profit and loss 268,089 34% (91,150) 4,425 (1,524) (1,227) 1,455 (234) (88,255) (63,231) (25,024) (88,255) Effective income and social contribution tax rates 32.9% 306,698 34% (104,277) 8,162 (512) 1,545 49 (95,033) (92,836) (2,197) (95,033) 31.0%

10. CONCESSIONS FINANCIAL ASSETS These represent the amounts receivable at the end of concession from the granting authority, or any of its agents, by way of compensation for investments made and not recovered through services rendered related to subsidiary Light SESA's concession. ANEEL Normative Resolution No. 474 of February 7th, 2012, established new depreciation rates for assets in service granted in the electricity sector, effective as of January 1st, 2012, determining the change in the economic useful life of assets composing the distribution infrastructure. Considering that this change implied, on average, in lengthening the useful life of assets and the consequence is a decrease in the amortization of intangible assets and an increase in the residual amount of infrastructure that the Company expects to receive as indemnity at the end of the concession period. Consequently, infrastructure was redistributed which is classified in intangible assets and financial assets, as a result of the adoption of IFRIC 12/OCPC 5 Concession Agreements. The Company made calculations to determine the new estimate of indemnity for reversible assets at the expiration of the concession term in 2026 and the amount imputable to intangible assets. Considering economic, regulatory aspects and a better accounting expertise, on March 31st, 2012, this re-measurement of infrastructure resulted in the reclassification of R$118,288 of intangible assets account to financial assets, without changing other accounting procedures resulting from the adoption of IFRIC 12/OCPC 5 Concession Agreements.

55

Changes in financial concession assets:

Balance on December 31, 2011 Additions Reclassification of ANEEL Resolution 474/12 Balance on June 30, 2012

656,473 43,206 118,288 817,967

Balance on December 31, 2010 Additions Write-offs Balance on June 30, 2011

469,030 39,830 (261) 508,599

11. OTHER RECEIVABLES

Parent Company 6/30/2012 12/31/2011 149 5,818 5,967 156 11,606 2,001 13,763 Consolidated 6/30/2012 12/31/2011 31,504 208 13,049 50,457 30,328 10,274 41,896 177,716 32,915 12,130 54,999 23,484 12,654 37,368 173,550

CURRENT Advances to suppliers and employees Property rental Account receivable from the sale of property Public lighting fee Expenditures to refund Subsidy to low-income segment Loan receivables from with Lightger Other Total NON-CURRENT Assets and rights for disposal Other Total

2,147 659 2,806

7,213 766 7,979

56

12. INVESTMENTS
Parent Company 6/30/2012 12/31/2011 2,360,804 688,640 76,581 7,794 1,414 40,466 24,645 4,845 37,046 534 3,242,769 2,088 2,088 3,244,857 2,314,175 670,064 55,072 5,821 1,520 40,678 23,472 4,427 37,545 140 3,152,914 2,088 2,088 3,155,002 Consolidated 6/30/2012 12/31/2011 59,470 59,470 59,470 54,086 54,086 54,086

Accounted for under the equity method: Light SESA Light Energia Light Esco LightCom Light Solues Lightger Itaocara Energia (a) Axxiom Amaznia Energia (a) E-Power (a) Subtotal Goodwill from future profitability Other permanent investments Subtotal TOTAL INVESTMENTS (a) Pre-operating companies

Information on subsidiary and joint ventures entities

6/30/2012 Light SESA Light Energia Light Esco LightCom Light Solues Instituto Light Lightger Itaocara Energia Axxiom Amaznia Energia E-Power
12/31/2011 Light SESA Light Energia Light Esco LightCom Light Solues Instituto Light Lightger Itaocara Energia Axxiom Amaznia Energia E-Power

Ownership interest (%) 100.0 100.0 100.0 100.0 100.0 100.0 51.0 100.0 51.0 25.5 20.0
Ownership interest (%) 100.0 100.0 100.0 100.0 100.0 100.0 51.0 100.0 51.0 25.5 20.0

Paid-up capital 2,082,365 77,422 54,584 4,500 1,350 300 40,408 29,562 4,692 37,740 830
Paid-up capital 2,082,365 77,422 17,584 1,000 1,350 300 40,408 29,562 4,692 37,740 376

Shareholders' equity 2,360,804 688,640 76,581 7,794 1,414 40,466 24,645 4,845 37,046 534
Shareholders' equity 2,314,175 670,064 55,072 5,821 1,520 40,678 23,472 4,427 37,545 140

Mandatory dividends and interest on Dividends and interest equity on equity paid (69,948) (4,738) Mandatory dividends and interest on Dividends and interest equity on equity paid
(84,453) (5,574) (2,269) (962) (259,534) (230,704) -

Income(loss) for the period 113,729 63,424 5,048 2,362 59 (212) 1,890 418 (499) (94)
Income(loss) for the year 215,729 90,750 9,554 4,050 223 (754) 136 1,103 (195) (196)

Total assets 8,481,723 2,166,222 110,598 27,568 1,585 1 112,733 93,090 7,563 37,046 908
Total assets 8,699,821 2,098,802 83,972 25,399 1,752 2 104,462 86,525 6,526 37,545 317

6/30/2011 Light SESA Light Energia Light Esco LightCom Light Solues Instituto Light Lightger Itaocara Energia Axxiom

Ownership interest (%) 100.0 100.0 100.0 100.0 100.0 100.0 51.0 100.0 51.0

Paid-up capital 2,082,365 77,422 17,584 1,000 300 300 35,743 22,294 4,692

Shareholders' equity 2,394,272 694,682 51,205 5,115 245 36,352 16,123 3,703

Dividends paid (206,146) (169,915) -

Income(loss) for the period 157,985 49,003 3,420 2,381 (53) (415) 55 379

Total assets 8,104,590 1,521,468 80,175 20,249 245 2 69,098 149,136 5,278

57

Changes in subsidiaries and joint ventures

12/31/2011 Light SESA Light Energia Light Esco LightCom Light Solues Lightger Itaocara Energia Axxiom Amaznia Energia E-Power 2,314,175 670,064 55,072 5,821 1,520 40,678 23,472 4,427 37,545 140 Capital increase 37,000 3,500 486 Additional dividends proposed (67,100) (44,847) (20,000) (3,500) Other (1) (539) (389) (165) (717) 2 Shares of results 113,729 63,424 5,048 2,362 59 (212) 1,890 418 (499) (94) 6/30/2012 2,360,804 688,640 76,581 7,794 1,414 40,466 24,645 4,845 37,046 534

12/31/2010 Light SESA Light Energia Light Esco LightCom Light Solues Lightger Itaocara Energia Axxiom 2,442,433 815,593 37,787 2,733 50 36,767 16,067 2,304

Capital increase 10,000 250 1,020

Dividends paid (206,146) (169,914) -

Other (2) 1 (2) 1 -

Shares of results 157,985 49,003 3,420 2,381 (53) (415) 55 379

6/30/2011 2,394,272 694,682 51,205 5,115 245 36,352 16,123 3,703

The joint ventures balances on June 30, 2012 which the proportionate consolidation method is applied as follows:
AXXIOM ASSETS Current Non-current Total assets LIABILITIES Current Non-current Shareholders' equity Total liabilities 5,016 317 9,497 14,830 1,580 2,960 4,540 145,277 145,277 20,440 121,262 79,343 221,045 9,930 4,900 14,830 2,660 1,880 4,540 145,277 145,277 36,587 184,458 221,045 E-POWER AMAZNIA LIGHTGER

STATEMENT OF INCOME Net revenue from sales Cost of sales Gross profit General and administrative expenses Net financial income Income before income and social contribution taxes Income and social contribution taxes Net income for the period 9,537 9,537 (8,639) 98 996 (176) 820 (460) (460) (460) (1,957) (1,957) (1,957) 6,733 (7,163) (430) (2,150) 5,593 3,013 (3,431) (418)

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13. PROPERTY, PLANT AND EQUIPMENT

Historical cost Generation Transmission Distribution Administration Trading In service Generation Administration In progress TOTAL OF PROPERTY, PLANT AND EQUIPMENT 2,954,765 57,601 34,266 298,332 13,802 3,358,766 417,759 105,006 522,765

Consolidated 6/30/2012 Accumulated Carrying depreciation amount (1,524,372) (42,505) (28,496) (186,521) (8,424) (1,790,318) 1,430,393 15,096 5,770 111,811 5,378 1,568,448 417,759 105,006 522,765

12/31/2011 Carrying amount 1,247,770 15,429 9,913 119,477 2,731 1,395,320 496,135 94,378 590,513

3,881,531

(1,790,318)

2,091,213

1,985,833

Changes in property, plant and equipment:

Consolidated Balance on 12/31/2011 PROPERTY, PLANT AND EQUIPMENT IN SERVICE Cost Land Reservoir, dams and water mains Buildings, works and improvements Machinery and equipment Vehicles Fixtures and furnishings Total Property, Plant and Equipment in Service - Cost (-) Depreciation Reservoir, dams and water mains Buildings, works and improvements Machinery and equipment Vehicles Fixtures and furnishings Total Property, Plant and Equipment in Service - Depreciation PROPERTY, PLANT AND EQUIPMENT IN PROGRESS Land Reservoir, dams and water mains Buildings, works and improvements Machinery and equipment Vehicles Fixtures and furnishings Studies and projects Total Property, Plant and Equipment in Progress TOTAL PROPERTY, PLANT AND EQUIPMENT 1,517 126,373 88,985 254,285 898 28,726 89,729 590,513 1,985,833 677 10,494 26,088 69,504 146 39,765 146,674 108,065 (3,363) 3 2,167 (203,176) (64) (13,352) (214,422) 678 2,197 136,867 117,240 120,613 898 28,808 116,142 522,765 2,091,213 105,130 1,278,923 270,244 1,337,104 29,849 134,993 3,156,243 (3) (33) (4) (12,526) (11) (12,577) 110 539 214,409 42 215,100 105,240 1,278,920 270,750 1,551,509 17,323 135,024 3,358,766 Additions Write offs Inter-account transfers Balance on 6/30/2012

(779,535) (157,208) (690,487) (23,547) (110,146) (1,760,923)

(10,820) (3,344) (20,007) (971) (3,467) (38,609)

9,211 3 9,214

(10) 276 (263) (3) -

(790,365) (160,276) (710,757) (15,307) (113,613) (1,790,318)

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Consolidated Balance on 12/31/2010 PROPERTY, PLANT AND EQUIPMENT IN SERVICE Cost Land Reservoir, dams and water mains Buildings, works and improvements Machinery and equipment Vehicles Fixtures and furnishings Total Property, Plant and Equipment in Service - Cost (-) Depreciation Reservoir, dams and water mains Buildings, works and improvements Machinery and equipment Vehicles Fixtures and furnishings Total Property, Plant and Equipment in Service - Depreciation PROPERTY, PLANT AND EQUIPMENT IN PROGRESS Reservoir, dams and water mains Buildings, works and improvements Machinery and equipment Vehicles Fixtures and furnishings Studies and projects Total Property, Plant and Equipment in Progress TOTAL PROPERTY, PLANT AND EQUIPMENT 77,614 44,511 118,790 10,055 13,589 36,398 300,957 1,628,893 15,989 3,541 10,970 29 12,077 242 42,848 5,128 (377) (2,132) (2,916) (9,276) (163) (14,487) 68 93,603 45,920 126,844 808 25,666 36,477 329,318 1,633,712 105,026 1,250,703 255,954 1,245,946 32,491 127,073 3,017,193 (323) (54) (595) (972) 135 3,323 9,276 1,821 14,555 104,703 1,250,703 256,035 1,249,269 41,172 128,894 3,030,776 Additions Write offs Inter-account transfers Balance on 6/30/2011

(756,181) (149,576) (654,084) (27,898) (101,518) (1,689,257)

(10,810) (3,341) (17,970) (1,197) (4,402) (37,720)

595 595

(766,991) (152,917) (672,054) (28,500) (105,920) (1,726,382)

(i) Annual depreciation rates: Main depreciation rates, according to Aneel Resolution No. 474 dated February 7th, 2012, are as follows:
GENERATION Bus Circuit breaker Buildings Water intake equipment Water intake structure Generator Reservoirs, dams and water mains Local communication system Water turbine % 2.50 3.03 3.33 3.70 2.86 3.33 2.00 6.67 2.50 SELLING Buildings Equipment in general Vehicles % 3.33 6.25 14.29 ADMINISTRATION Buildings Equipment in general Vehicles % 3.33 6.25 14.29 TRANSMISSION System conductor Equipment in general System structure Recloser % 2.70 6.25 2.70 4.00

The Company did not identify evidence impairment of its property, plant and equipament. The concession agreements of Light Energia subsidiary provide that at the end of each concessions term, the granting authority will determine the amount to be indemnified to the Company, so that the Management understands that the book value of fixed assets not depreciated at the end of concession and will be reimbursable by the granting authority. (ii) Consortium The Company participates in electric power generation concession consortium to which no companies were organized on an independent legal basis in order to manage of the concession and maintaining appropriated controls for fixed assets, according to Aneel Order n 3.467 of September 18th, 2008. The Company, through

60

the subsidiary Itaocara Energia, holds 51% interest in UHE Itaocara consortium and Cemig Gerao e Transmisso S.A. Cemig GT holds 49.0% interest. The consortium aims the exploration of Itaocara hydroelectric power plant. Assets and liabilities balances referring to the participation in the Consortium are incorporated into the balances of the subsidiary. 14. INTANGIBLE ASSETS

Historical cost Intangible Concession right of use Goodwill from future profitability Other In Service Concession right of use Other In progress TOTAL INTANGIBLE (a) 6,331,748 2,092 498,240 6,832,080 1,008,024 228,070 1,236,094 8,068,174

Consolidated 6/30/2012 Accumulated amortization Net value (3,575,919) (414,321) (3,990,240) (3,990,240) 2,755,829 2,092 83,919 2,841,840 1,008,024 228,070 1,236,094 4,077,934

12/31/2011 Net value 2,952,408 2,092 94,655 3,049,155 799,364 226,749 1,026,113 4,075,268

a)

Net of special obligations comprising contributions made by the federal government, states, municipalities and consumers, as well as donations not subjected to any return in favor of the donor and subsidy intended as investments to be made toward concession of the electric power distribution utility. The balance of special obligations on June 30th, 2012 amounted to R$150,776 (R$150,892 at December 31st, 2011).

Intangible in progress includes inventories of materials in the amount of R$71,590 as of June 30th, 2012 (R$81,444 as of December 31st, 2011), as well as a provision for inventory devaluation in the amount of R$5,749 (R$5,749 as of December 31st, 2011). The Company has not identified evidence of impairment of its other intangible assets. A total amount of R$7,576 (R$4,952 in six months period of 2011) was carried over to intangible assets in the first six months of 2012 by way of interest capitalization, recorded by transfer and against financial result. The infrastructure used by subsidiary Light SESA is associated with the distribution service, and therefore cannot be removed, disposed of, assigned, conveyed, or encumbered as mortgage collateral without the prior written authorization of the granting authority, which authorization, if given, is regulated by Aneel Resolution No. 20/99.

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Changes in the intangible assets:

Consolidated Balance on 12/31/2011 In Service Concession right of use Goodwill from future profitability Other Total Intangible in Service (-) Amortization Concession right of use Other Total Intangible in Service - Depreciation In Progress Concession right of use Other Total Intangible in Progress TOTAL INTANGIBLE ASSETS 6,411,030 2,092 495,302 6,908,424 Additions Write offs * (121,143) (121,143) Inter-account transfers 41,861 2,938 44,799 Balance on 6/30/2012 6,331,748 2,092 498,240 6,832,080

(3,458,622) (400,647) (3,859,269)

(119,537) (13,674) (133,211)

2,240 2,240

(3,575,919) (414,321) (3,990,240)

799,364 226,749 1,026,113 4,075,268

293,761 4,903 298,664 165,453

(118,903)

(85,101) (3,582) (88,683) (43,884)

1,008,024 228,070 1,236,094 4,077,934

* Includes a reclassification for the amount of R$118,288 referring to Aneel Normative Resolution No. 474/12 (see Note 10).
Consolidated Balance on 12/31/2010 In Service Concession right of use Goodwill from future profitability Other Total Intangible in Service (-) Depreciation Concession right of use Other Total Intangible in Service - Depreciation In Progress Concession right of use Other Total Intangible in Progress TOTAL INTANGIBLE ASSETS 5,897,129 2,034 450,714 6,349,877 Additions Write offs (2,504) (2,504) Inter-account transfers 116,857 426 117,283 Balance on 6/30/2011 6,011,482 2,034 451,140 6,464,656

(3,218,801) (367,943) (3,586,744)

(125,669) (18,830) (144,499)

1,729 1,729

(3,342,741) (386,773) (3,729,514)

788,111 62,528 850,639 3,613,772

323,598 11,370 334,968 190,469

(775)

(159,328) (88) (159,416) (42,133)

952,381 73,810 1,026,191 3,761,333

It is the responsibility of Aneel in its capacity as regulatory agency to determine the estimated economic useful lives of each piece of distribution infrastructure assets for pricing purposes, as well as for the purpose of calculating the amount of the relevant compensation payable upon expiration of the concession term. This estimate is revised from time to time, represents the best estimate concerning the assets' useful lives, and is accepted in the market as appropriate for accounting and regulatory purposes. The Management understands that amortization of the concession's right of use must be consistent with the return expected on each infrastructure asset, via the applicable rates. Thus, intangible assets are amortized over the expected length of such return, limited to the term of the concession.

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As mentioned in Note 10, the main depreciation rates, based on assets useful lives estimate were modified by Normative Resolution No. 474, which resulted in the reclassification of R$118,288 of the intangible assets account to financial assets on March 31st, 2012, without changing other accounting procedures deriving from the adoption of IFRIC 12/OCPC 5 Concession Agreements. Below, the comparative chart of amortization rates pursuant to Aneel Resolution No. 474 of February 7, 2012:

DISTRIBUTION Bank of capacitors Distribution key System conductor Circuit breaker Buildings System structure Meter Voltage regulator Recloser Transformer
Use of Public Utilities (UPU)

% 6.67 6.67 3.57 3.03 3.33 3.57 6.77 4.35 4.00 4.00

In accordance with OCPC 05, the power electric generation concession agreements understand that the right and corresponding liability simultaneously rely on concessionaire upon the signature of the concession agreement (authorization), the intangible asset is initially measured at cost (in the instrument of ownership). In case of fixed granting, the cost corresponding to the amount already expensed and to be expensed shall be recognized at present value, as per Accounting Pronouncement CPC 12 Present Value Adjustment. The Company has onerous concession agreement in Itaocara consortium. The UPU balance recorded on June 30th, 2012 is R$61,607 (R$60,317 on December 31st, 2011). 15. SUPPLIERS
Parent Company 6/30/2012 12/31/2011 290 290 197 197 Consolidated 6/30/2012 12/31/2011 33,674 55,724 2,216 55,741 154,462 152,217 117,592 159,454 731,080 20,066 55,580 2,216 53,266 196,789 110,165 118,226 200,850 757,158

CURRENT Sales within the scope of CCEE Electric network usage charges System service charges Free energy refund to generation companies (a) Electric power auctions Itaipu binational UTE Norte Fluminense Supplies and services Total

a) Free Energy Reimbursement to Power Generation Companies

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Aneel Resolution No. 387 as of December 15th, 2009, published on January 12th, 2010, concluded the process of calculating the Revenue Loss and Free Energy closing balances after the conclusion of the Extraordinary Tariff Review - RTE, and also determined the amounts of any reimbursement operators should pay each other, as applicable, and payments shall be made on April 9, 2011. However, said reimbursements are suspended according to injunction filed by the Brazilian Association of Electricity Distribution Operators (ABRADEE) on April 7th, 2011. The balance was ratified at R$48,985 and the variation, from ratification, results from adjustment by SELIC (overnight lending rate) variation, in the amount of R$6,756. During the period ended June 30th, 2012, the Company purchased assets for the maintenance and expansion of the concession for the amount of R$62,377. These were directly recorded by suppliers and did not affect the cash balance. The Companys exposure to credit risks related to suppliers is reported in Note 31. 16. LOANS, FINANCING AND FINANCIAL CHARGES
Current Financing Entity TN - Par Bond TN - Surety - Par Bond TN - Discount Bond TN - Surety - Discount Bond TN - C. Bond TN - Debit. Conv. TN - Bib Merril Lynch BNP TOTAL FOREIGN CURRENCY Eletrobrs CCB Bradesco Wordking Capital - Santander BNDES - FINEM BNDES - FINEM direct BNDES - FINEM + 1 BNDES - FINEM direct PSI BNDES - Capex 11/12 Subcredit 2 BNDES - Capex 11/12 Subcredit 3 BNDES - Capex 11/12 Subcredit 4 BNDES - Light Ger BNDES - PROESCO 1 funding BNDES - PROESCO 2 funding BNDES - PROESCO 3 funding BNDES - PROESCO 4 funding BNDES - PROESCO 5 funding BNDES - PROESCO 6 funding BNDES - PROESCO 7 funding Renova Energia - NP Renova Energia - BNDES Renova Energia - Bco do Nordeste RGR Sundry bank guarantees Banco Ita S.A - Axxiom TOTAL DOMESTIC CURRENCY Overall total
th th th th rd nd st

Consolidated Non-current Total 1,016 190 6,916 249 343 681 9,395 573 108,822 7,570 83,376 30,144 30,200 12,849 4,482 7,643 7,708 4,334 36 41 102 302 445 557 717 1,401 224 246 350 255 302,377 311,772 Principal 78,668 (58,764) 54,892 (41,196) 6,686 122 101,065 90,601 232,074 1,232 375,000 80,000 103,270 113,664 113,664 79,251 95,665 162,631 162,631 61,844 130 145 232 753 1,125 1,279 1,894 197,124 27,064 1,578,598 1,810,672 Charges 11,168 11,168 11,168 Total 78,668 (58,764) 54,892 (41,196) 6,686 122 101,065 90,601 232,074 1,232 375,000 80,000 103,270 113,664 113,664 79,251 95,665 162,631 162,631 61,844 130 145 232 753 1,125 1,279 1,894 208,292 27,064 1,589,766 1,821,840 6/30/2012

Total 12/31/2011 73,948 (54,533) 51,105 (38,231) 15,779 3,486 460 94,135 85,860 232,009 2,033 461,352 83,158 228,185 158,722 158,787 98,465 100,007 170,029 170,068 51,613 339 770 372 1,910 4,529 516 377 38,835 167,080 28,766 246 134 1,926,293 2,158,302

Principal 6,687 243 6,930 564 75,000 82,615 29,651 29,651 12,680 4,168 7,083 7,083 4,123 35 40 101 299 440 551 710 1,401 255 256,450 263,380

Charges 1,016 190 229 6 343 681 2,465 9 33,822 7,570 761 493 549 169 314 560 625 211 1 1 1 3 5 6 7 224 246 350 45,927 48,392

79,684 (58,764) 55,082 (41,196) 13,602 371 101,408 91,282 241,469 1,805 483,822 87,570 186,646 143,808 143,864 92,100 100,147 170,274 170,339 66,178 166 186 334 1,055 1,570 1,836 2,611 209,693 27,288 246 350 255 1,892,143 2,133,612

The statement below summarizes the contractual terms and conditions applicable to our loans and financings as of June 30th, 2012:

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Principal Amortization Financing Entity TN - Par Bond TN - Surety - Par Bond TN - Discount Bond TN - Surety - Discount Bond TN - C. Bond TN - Bib Merril Lynch BNP Eletrobrs CCB Bradesco Working capital - Santander BNDES - FINEM BNDES - FINEM direct BNDES - FINEM + 1 BNDES - FINEM direct PSI BNDES - Capex 11/12 Subcredit 2 BNDES - Capex 11/12 Subcredit 3 BNDES - Capex 11/12 Subcredit 4 BNDES - Light Ger BNDES - PROESCO 1st funding BNDES - PROESCO 2nd funding BNDES - PROESCO 3rd funding BNDES - PROESCO 4th funding BNDES - PROESCO 5th funding BNDES - PROESCO 6th funding BNDES - PROESCO 7th funding Renova Energia - BNDES TJLP+1.92% Renova Energia - BNDES TJLP+2.18% Renova Energia - Banco do Nordeste Banco Ita S.A - Axxiom Date of signature 4/29/1996 4/29/1996 4/29/1996 4/29/1996 4/29/1996 4/29/1996 11/7/2011 10/17/2011 Sundry 10/18/2007 09/03/2010 11/5/2007 11/30/2009 11/30/2009 11/30/2009 6/12/2011 6/12/2011 6/12/2011 9/27/2011 9/16/2008 4/17/2009 4/12/2010 9/15/2010 11/16/2010 7/29/2011 9/27/2011 05/05/2011 05/05/2011 6/30/2006 05/04/2012 Currency US$ US$ US$ US$ US$ US$ US$ EURO UFIR CDI CDI TJLP TJLP TJLP R$ TJLP TJLP TJLP TJLP TJLP TJLP TJLP TJLP TJLP TJLP TJLP TJLP TJLP R$ CDI Interest Rate p.a. 6% U$ Trtondtosury Libor + 13/16 U$ Trtondtosury 8% 6% Libor+2.5294% 4% 5% CDI + 0.85% CDI + 1.4% TJLP + 4.3% TJLP + 2.58% TJLP + 1% + 2.58% 4.5% TJLP + 1.81% TJLP + 2.21% TJLP + 2.21% TJLP + 1.97% TJLP + 2.5% TJLP + 2.51% TJLP + 2.18% and 4.5% TJLP + 2.05% and 5.5% TJLP + 2.05% and 5.5% TJLP + 1.81% TJLP + 1.81% TJLP + 1.92% TJLP + 2.18% 8.08% to 9.5% CDI + 1.865% Beginning 2024 2024 2024 2024 2004 1999 2014 2014 1988 2012 2010 2009 2011 2011 2011 2013 2013 2013 2012 2009 2009 2010 2010 2011 2012 2012 2013 2013 2006 2012 Payment Lump sum Lump sum Lump sum Lump sum Half-yearly Half-yearly Half-yearly Lump sum Monthly and Quarterly Anual Anual Monthly Monthly Monthly Monthly Quarterly Quarterly Quarterly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly Lump sum Remaining Installments 1 1 1 1 4 3 6 1 42 6 1 30 61 61 90 72 72 72 189 33 39 40 49 49 57 57 192 192 171 1 End 2024 2024 2024 2024 2014 2013 2016 2014 2015 2017 2014 2014 2017 2017 2019 2019 2019 2019 2028 2014 2015 2015 2016 2016 2017 2017 2029 2029 2026 2012

In addition to the collateral indicated above, loans are guaranteed by receivables in the approximate amount of R$70,287 (R$88,609 on December 31st, 2011). The principal of non-current consolidated loans and financing matures as follows (excluding financial charges) on June 30th, 2012:

Local Currency 2013 2014 2015 2016 after 2016 Total 208,492 382,674 240,365 239,057 508,010 1,578,598

Consolidated Foreign Currency 3,465 119,716 38,910 36,383 33,600 232,074

Total 211,957 502,390 279,275 275,440 541,610 1,810,672

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Changes in consolidated loans and financings:

Principal Balance on December 31, 2011 Additions loans and financing Monetary restatement Foreign exchange variation Accrued financial charges Financial charges paid Financing paid Funding cost transactions Amortization cost transactions Capitalized financial charges Financial charges of property, plant and equipment Balance on June 30, 2012 2,133,673 47,775 (166) 15,935 (124,323) (1,322) 366 2,114 2,074,052

Charges 24,629 86,242 (56,064) (2,114) 6,867 59,560

Total 2,158,302 47,775 (166) 15,935 86,242 (56,064) (124,323) (1,322) 366 6,867 2,133,612

Principal Balance on December 31, 2010 Additions loans and financing Foreign exchange variation Accrued financial charges Financial charges paid Financing paid Amortization cost transactions Balance on June 30, 2011 1,335,183 52,456 (3,406) (59,974) 73 1,324,332

Charges 22,900 72,972 (42,484) 53,388

Total 1,358,083 52,456 (3,406) 72,972 (42,484) (59,974) 73 1,377,720

Total principal amount is stated net of funding costs transactions of BNDES, as provided per CVM Rule No. 556/08. The Companys exposure to interest rate, foreign currency and liquidity risks related to loans and financings is reported in Note 31.

Covenants Bradescos bank credit certificates, loans with Banco Santander and with BNDES, classified as current and non-current, requires that the Company maintain certain debt ratios and covenants. In the second quarter of 2012, the Company was in conformity with all required debt covenants.

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17. DEBENTURES AND FINANCIAL CHARGES

Financing Entity Debentures 4th Issue (Light SESA) Debentures 5th Issue (Light SESA) Debentures 7th Issue (Light SESA) Debentures 1st Issue (Light Energia) Debentures 2nd Issue (Light Energia) Local currency - Total

Principal 20 211,621 211,641

Current Charges 1 11,709 10,186 3,816 15,070 40,782

Total 21 223,330 10,186 3,816 15,070 252,423

Consolidated Non Current Principal Total 39 426,299 648,194 171,152 423,297 1,668,981 39 426,299 648,194 171,152 423,297 1,668,981

Total 6/30/2012 60 649,629 658,380 174,968 438,367 1,921,404 12/31/2011 69 744,463 660,217 175,751 423,372 2,003,872

Below, contractual conditions of debentures on a consolidated basis as of June 30th, 2012:

Date of Signature 6/30/2005 1/22/2007 5/2/2011 4/10/2011 12/29/2011 Interest Rate p.a. TJLP + 4% CDI + 1.50% CDI + 1.35% CDI + 1.45% CDI + 1.18% Principal Amortization Remaining Payment Installments Monthly Quarterly Yearly Yearly Yearly 36 7 2 2 4

Financing Entity Debentures 4th Issue (Light SESA) Debentures 5th Issue (Light SESA) Debentures 7th Issue (Light SESA) Debentures 1st Issue (Light Energia) Debentures 2nd Issue (Light Energia)

Currency TJLP CDI CDI CDI CDI

Beginning 2009 2012 2015 2015 2016

Expiration 2015 2014 2016 2016 2019

Total principal amount is reported net of debenture issue costs, as provided for in CVM Resolution No. 556/08. Installments related to principal of non-current debentures have the following maturities (excluding financial charges) on June 30th, 2012:

6/30/2012 2013 2014 2015 2016 after 2016 Total

Changes in debentures on a consolidated basis:

121,722 304,607 408,262 516,267 318,123 1,668,981

Principal Balance on December 31, 2011 Accrued financial charges Financial charges paid Financing paid Funding cost paid Balance on June 30, 2012 1,969,973 (90,812) 1,461 1,880,622

Charges 33,899 101,527 (94,644) 40,782

Total 2,003,872 101,527 (94,644) (90,812) 1,461 1,921,404

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Principal Balance on December 31, 2010 Additons loans and financing Accrued financial charges Financial charges paid Financing paid Funding cost transactions Funding cost paid Balance on June 30, 2011 1,088,402 822,768 (331,812) (4,472) 2,378 1,577,264

Charges 20,821 82,661 (66,386) 37,096

Total 1,109,223 822,768 82,661 (66,386) (331,812) (4,472) 2,378 1,614,360

Companys exposure to interest rate, foreign currency and liquidity risks related to debentures is reported in Note 31. Covenants The 5th and 7th issue of Debentures of Light SESA and the 1st and 2nd issue of Debentures of Light Energia require the maintenance of indebtedness indexes and coverage of interest rates. In the second quarter of 2012, the Companies complied with all the covenants required.

18. REGULATORY CHARGES

Consolidated 6/30/2012 12/31/2011 27,308 21,029 11,699 56,129 116,165 25,472 19,266 11,490 56,128 112,356

CURRENT Fuel usage account quota CCC Energy development account quota CDE Global reversal reserve quota RGR Charges for capacity and emergency acquisition Total

19. PROVISIONS The Company is party in tax, labor and civil lawsuits and regulatory proceedings in several courts. Management periodically assesses the risks of contingencies related to these proceedings, and based on its legal counsels opinion, it records a provision when unfavorable decisions are probable and whose amounts are quantifiable.

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Changes in provisions:
NO CIRCULANTE Labor Balance on December 31, 2011 Additions Adjustments Write-offs/payments Write-offs/reversals Balance on June 30, 2012 Scrow deposits Balance on June 30, 2012
(*)

Consolidated Civil 163,572 30,524 6,867 (25,707) 175,256 Tax 186,478 7,515 193,993 Other 15,507 12,861 1,471 29,839 Total 515,678 49,360 15,853 (38,202) (10,863) 531,826

150,121 5,975 (12,495) (10,863) 132,738

47,140

9,342

4,375

60,857

* The total amount of R$282,066 is recorded under scrow deposits on June 30, 2012 (R$268,505 on December 31st, 2011), of which R$60,857 (R$53,982 on December 31st, 2011) refers to claims with recorded provision. Provision for labor proceedings: These labor proceedings mainly involve the following matters: overtime; hazardous work wage premium; equal pay; pain and suffering; subsidiary-joint liability of employees from outsourced companies; difference of 40% fine of FGTS (Government Severance Indemnity Fund for Employees) derived from the adjustment due to understated inflation and occupational accident civil liability. Provision for civil proceedings:

Civil

Accrued Value (probable loss) 6/30/2012 12/31/2011 101,875 18,035 43,662 163,572

Civil proceedings (a) Special civil court (b) "Cruzado" Plan Total

113,289 15,394 46,573 175,256

a) The Provision for civil proceedings comprises lawsuits in which the Company and its subsidiaries are defendants and it is probable the claim will result in a loss in the opinion of the respective attorneys. The claims mainly involve alleged moral and property damage due to the Company's ostensive behavior fighting irregularities in the network, as well as consumers challenging the amounts paid.

b) Lawsuits in the Special Civil Court are mostly related to matters regarding consumer relations, such as improper collection, undue power cut, power cut due to delinquency, network electric usage problems, various irregularities,

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bill complaints, meter complaints and problems with ownership transfer. There is a limit of 40 minimum monthly wages for claims under procedural progress at the Special Civil Court. Accruals are based on the average of the last 12 months of condemnation amount.

Provision for tax proceedings:

Tax

Accrued Value (probable loss) 6/30/2012 12/31/2011 8,561 42,942 23,876 104,938 6,161 186,478

PIS/COFINS RGR and CCC INSS tax deficiency notice INSS quarterly ICMS (a) Other Total

8,561 43,917 24,520 110,724 6,271 193,993

a) The provision recorded mainly refers to litigation on the application of State Law n 3,188/99, which restricted the appropriation of ICMS credits incurred on the acquisition of assets destined to fixed assets, requiring that credit occurs by installments, while this restriction was not provided for in the Supplementary Law n 87/96. This provision is yearly adjusted in January by UFIR (Fiscal Reference Unit). Administrative Regulatory Provisions and Others: The Company will now discuss regulatory contingencies of its subsidiaries in connection with administrative issues pending with Aneel: Deficiency Notice Aneel No. 082/2010-SFE This deficiency notice was issued on June 18, 2010, was imposed in the amount of R$16,052 under the allegation that the subsidiary Light SESA would have failed to comply with continuity metrics DEC and FEC for 65 groups during 2009. The incident occurred on November 10, 2009 (the Furnas Blackout) and was taken into consideration to calculate relevant metrics. Light SESA filed a deficiency notice on July 8, 2010, and pleaded to reduce penalty so that the shortage occurred on November 10, 2009 is not considered for the purposes of calculating DEC and FEC metrics. According to the Order No. 2049, published by the Federal Official Gazette (DOU) on July 2nd, 2012, the Managing Officer of Aneel, resolved to: (i) take cognizance and grant partial relief to the appeal filed by subsidiary Light SESA and (ii) amend the Order no. 1285, dated April 19th, 2012, to define the fine at R$4,773. Light SESA had already set up a provision of R$4,947 and paid the fine on July 4th, 2012; Deficiency Notice Aneel No. 071/2011 - SFE This deficiency notice was issued on November 30th, 2011 under the argument that any failure to comply with Module 8 PRODIST (Procedures for the Distribution of Electric Power at the National Electric System), more specifically referring to the

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process of data collection and calculation of individual and collective continuity indicators, as well as financial indemnity owed to consumers whose individual continuity indicators were infringed. Aneel applied a fine in the relevant amount of R$17,719. Subsidiary Light SESA filed an appeal on February 6, 2012, in view of excessive penalty applied, contesting among the facts, lack of reasoning and proportionality of dosimetry applied when calculating the fine. In view of excessive penalty applied and the chances of partial success of appeal filed, Light SESA accrued R$5,533, through report of its legal counsels and awaits decision of Aneel. Deficiency Notice ANEEL No. 102/2012-SFE (proceeding 48500.005091/2011-26). The Deficiency Notice was received by the subsidiary Light SESA on June 28, 2012, under the allegation of noncompliance detected by Aneel in August 2011 through an inspection of the subsidiary's underground network. The fine is R$7,438. The appeal was sent by Light SESA on July 6th, 2012 and is awaiting Aneels judgment. Given the excessive penalty imposed and the chances of partial success of this appeal, the subsidiary accrued R$4,813, based on the opinion of its legal counsels and Aneels decision is pending.

20. CONTINGENCIES The Company is party in lawsuits that Management believes that risk of loss are less than probable, based on the opinion of its legal counsels. Therefore, no provision was recorded. Contingencies with possible loss are broken down as follows:

Consolidated Nature Civil Labor Tax Total 6/30/2012 Number of Balance proceedings 183,183 303,542 3,372,700 3,859,425 13,733 1,159 224 15,116 12/31/2011 Number of Balance proceedings 155,476 317,524 2,882,800 3,355,800 13,658 1,166 302 15,126

The main reasons for litigations are listed below: a) Civil Irregularities Subsidiary Light SESA has several lawsuits where irregularities are discussed, arising from commercial losses due to irregular connections, clandestine connections, meters alteration and equipment theft, known in Portuguese as gatos. Most of the litigations are based on the evidence of irregularity and amounts charged by the concessionaire in view of such evidence. The amount currently assessed represented by these claims is R$50,440. Amounts charged and bills Several litigations are currently in progress and discuss amounts charged by the subsidiary Light SESA for services provided, such as demand amounts, consumption amounts, financial charges, rates,

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insurances, among other. The amount currently assessed represented by these claims is R$31,800. Accidents Subsidiary Light SESA is defendant in lawsuits filed by victims and/or their successors, regarding accidents with Lights electric power grid and/or service provision for several causes. The amount currently assessed represented by these claims is R$26,839. Discontinuance and suspension There are several lawsuits in progress to discuss service discontinuance, whether by fortuitous cases or events of force majeure, or for purposes of intervention in the electrical system, among other reasons, and also service suspension, whether for indebtedness, denied access or meters replacement, among other facts for suspension. The amount currently assessed represented by these claims is R$15,078. Equipment and network Subsidiary Light SESA has litigations due to electronic meters used to measure energy consumption. Litigations address several themes, such as meter functionality, approval by metrological agency, among others and, also, litigations about its network, due to its extension, removal or even financial contribution of the client to install the network. The amount currently assessed represented by these claims is R$8,532. Regarding civil litigations, we point out the lawsuit filed in the first quarter of 2012 by Companhia Siderrgica Nacional - CSN against subsidiary Light SESA, where CSN claims approximately R$100,000 as indemnity for service discontinuance occurred at its Consumer Unit of Volta Redonda. We point out that out of amount claimed, R$88,000 only refer to the service discontinuance occurred on November 10th, 2009, affecting 40% of Brazilian territory and over 90% of Paraguay, which only evidences that causes go beyond Light SESAs scope of operation, as electric power distribution company. Moreover, the ONS report concluded that the origin and causes of this service discontinuance was Furnas responsibility. Thus, the chances of losses in this lawsuit are possible. The amount currently assessed represented by these claims is R$35,531.

b) Tax LIR/LOI - IRPJ/CSLL - Subsidiary Light SESA filed writ of mandamus No. 2003.51.01.005514-8 (Proceedings 16682.720216/2010-83, 15374001.757/2008-13 and 16682.721091/2011-90) to challenge an assessment of corporate income tax (IRPJ) and social contribution (CSLL) on income earned by its overseas subsidiaries LIR and LOI since 1996 that was allegedly not offered to taxation, as well as the demand for including equity pickup income in the assessment of the IRPJ and CSLL for calendar years up to 2002 and subsequent years. Light SESA attempted to partially discontinue this writ of mandamus to include the tax debts in the installment payment program created by Law No. 11,941/09, and continuing discussing the assessment in connection with the equity accounting method. However, the tax authority did not accept this partial discontinuance, nor did the competent court. As a result, Light SESA fully discontinued this writ of mandamus, thus, changed the assessment methodology for the IRPJ/CSLL, which had previously been done based on the income, to use the equity method of accounting. The tax authorities disallowed this change and

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assessed Light SESA in relation to 2005. Light SESA filed a challenge in response to this assessment, which was deemed groundless. The voluntary appeal lodged by Light SESA is pending judgment. Referring to 2004, the tax authorities disregarded the information contained in the DIPJ (corporate income tax return) and based on non-rectified DCTF (Statement of Federal Tax Debts and Credits), sent a letter to collect the taxes. Light SESA filed a writ of mandamus. Nevertheless, as the injunction pleaded was rejected, then the company filed Provisional Remedy Anticipating Tax Foreclosure to post bond with letter of guarantee. Light SESA pleaded the discontinuance of the writ of mandamus and will discuss the merit of the case in the respective tax foreclosure records, through motion to stay execution already filed. In the last quarter of 2011, Light SESA was also assessed in relation to 2006 and 2008 fiscal years, an objection was filed and is pending judgment. The amounts involved on June 30, 2012 are: R$141,200 referring to 2005 tax assessment, referring to the 2006 to 2008 tax assessment is R$191,200 and R$74,500 referring to 2004 lawsuit. IRRF Disallowance of tax offset LIR/LOI (Proceeding 10768.002.435/2004-11) - There is no confirmation from Brazilian Tax Authority regarding the tax offsets related to withholding income tax credits on financial investments and withholding income tax credits on the payment of energy accounts by government bodies, offset due to outstanding balance of Corporate Income Tax in the reference year of 2002. The motion to disagree filed by Light SESA subsidiary was deemed groundless. The voluntary appeal lodged by Light SESA is pending judgment. The amount currently assessed represented by this claim on June 30th, 2012 is R$201,700. Normative Instruction (NI) No. 86 (Proceeding 10707000751/2007-15 (2003 through 2005) - This deficiency notice was issued to assess a fine on the Company for alleged failure to make electronic filings as required by NI. No. 86/2001, for calendar years 2003 through 2005. The voluntary appeal filed by subsidiary Light SESA was dismissed, upon which a special appeal was filed and also deemed groundless. Motion for clarification of judgment is pending. The amount currently assessed represented by this claim on June 30th, 2012 is R$287,600. ICMS on low-income subsidy (Proceedings E-34/059.150/2004 and E04/054.753/2011) - Tax Deficiency Notices drawn up to charge ICMS (State VAT) on amounts of economic subsidy to low-income consumers of electric power arising from Global Reversal Reserve Funding. In the first case, Light SESA's objection was deemed groundless. An appeal was lodged by subsidiary Light SESA with the Taxpayers Council, which decided this appeal shall return to the administrative lower court for due diligence. Currently, the proceeding is under expert examination. In the second case, the Company filed objection, which was deemed groundless. Voluntary Appeal filed is pending judgment. The amount currently assessed represented by first case on June 30th, 2012 is R$85,900 and R$30,700 in the second case. ICMS Commercial Losses (Tax Deficiency Notices ns 03326780-8, 04011949-7 and 04.028.752-6) - These refer to tax deficiency notices aiming at collecting ICMS, Government Fund to Combat Poverty - FECP and penalty (from Jan/99 to Dec/2003 and Jan/06 to Dec/10) as Light SESA failed to pay deferred ICMS and FECP in operations preceding the distribution of electric power, i.e., in operations carried out between generation and distribution company, in view of commercial losses. The

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subsidiary Light SESA objected these tax assessments which are pending judgment. The amount currently assessed represented by these claims on June 30th, 2012 is R$1,227,700. Inspection Fee for Occupancy and Permanence in Zones, Routes and Public Areas (TFOP) The subsidiary Light SESA has several lawsuits discussing TFOP, levied by the municipality of Barra Mansa. Light SESA filed motion to dismiss the execution of these lawsuits and at the Federal Supreme Court STF, obtained injunction sentencing the suspension of collections until judgment of Extraordinary Appeal n 640286. The amount currently assessed represented by this claim on June 30th, 2012, is R$179,309. IRRF (withholding income tax over dividends) (Proceedings 16682.721195/2011-02 and 16682.720657/2012-47) In the last quarter of 2011, Light received a tax deficiency notice aiming the collection of withholding income tax (IRRF) over amounts paid by the Company in 2007 as dividends, under the allegation that these derived from no profit, originated from recording of deferred tax assets in the income statement, then, characterized as payments without cause subject to tax levy. In view of absolute regular standing of accounting, corporate and tax procedures adopted, the Company filed objection, which was deemed groundless. We are awaiting notice of the decision to file a Voluntary Appeal. On July 6th, 2012, Light received another tax deficiency notice on this matter, now concerning the amounts paid in 2008, against which will submit a statement of discontentment, under the alleged defense of previous deficiency notice. The amount currently assessed represented by first deficiency notice on June 30th 2012 is R$353,400 and R$224,200 for the second deficiency notice. ICMS Rheem (Proceeding E-04/892.090/99) - This is a tax deficiency notice to collect ICMS (State VAT), in view of subsidiary Light SESA's utilization of ICMS accumulated credits of Rheem Embalagens Ltda. to acquire inputs and raw material in the State of Rio de Janeiro. Objection was deemed groundless. Voluntary Appeal was filed which was rejected. Light's appeal is pending judgment. The amount currently assessed represented by this claim on June 30th, 2012 is R$137,900. COFINS (Proceeding 10768.020294/99-72) It refers to the Offset Disallowance made by the Company, which applied income tax outstanding balance, calculated in the 1998 calendar year, for the purposes of paying COFINS debts. Objection was filed which was deemed groundless. The Company filed Voluntary Appeal which was accepted. The amount currently assessed represented by this claim on June 30th, 2012 is R$71,300.

Below, we point out lawsuits in progress, whose chances of losses are remote, with relevant amounts under dispute, which, in case of unfavorable decision, may impact the Company: IRRF Interest remitted abroad (Proceeding 18471002113/2004-09) Collection of withholding income tax on interest paid to its subsidiaries LIR and LOI, resulting from securities issued benefited with zero tax rate of withholding income tax. On August 7th, 2012 the Administrative Tax Appeals Council - Carf cancelled the tax deficiency notice, and the amount currently assessed represented by this claim is R$529,400. Publication of decision is pending.

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PASEP/PIS (Proceeding 15374002130/2006-18) It refers to the Offset Disallowance made by the Company of PASEP credits with PIS debts. The Companys objection was deemed groundless. Voluntary Appeal was filed. CARF rendered decision sentencing the case should remand to the lower court to determine the credit in dispute. The amount currently assessed represented by this claim on June 30th, 2012 is R$262,900.

21. POST-EMPLOYMENT BENEFITS Below, a summary of the Company's liabilities involving pension plan benefits as stated in the Companys balance sheet:
Current Contractual debt with pension fund Supplementary actuarial liabilities CVM 600 Accounts payable - Braslight Other Total 111,806 1,169 112,975 6/30/2012 Non-current 955,706 23,718 979,424 Total 1,067,512 23,718 1,169 1,092,399 Current 70,697 8,865 963 80,525 12/31/2011 Non-current 991,897 23,718 1,015,615 Total 1,062,594 23,718 8,865 963 1,096,140

Below, contractual liabilities breakdown in thesix months period of 2012:

Balance on December 31, 2011 Payment in the period Interest in the period Transfer to current Balance on June 30, 2012

Total Consolidated 1,062,594 (55,308) 60,226 1,067,512

Current 70,697 (55,308) 60,226 36,191 111,806

Non-current 991,897 (36,191) 955,706

22. OTHER PAYABLES

CURRENT Advances from clients Compensation for use of water resources Energy Research Company EPE National Scientific and Technological Development Fund FNDCT Energy Efficiency Program PEE Research and Development Program R&D Public lighting fee Provision for voluntary redundancy Other Total NON-CURRENT Provision for success fees Reversal reserve Use of public asset - UBP Other Total 22,649 69,933 61,607 233 154,422 23,161 69,933 60,317 153,411 Parent Company 6/30/2012 12/31/2011 1,855 680 2,535 1,822 666 2,488 Consolidated 6/30/2012 12/31/2011 3,032 4,059 2,758 475 61,847 27,280 72,626 1,826 29,577 203,480 3,557 4,205 1,124 2,248 51,452 30,139 81,362 2,000 51,067 227,154

23. RELATED-PARTY TRANSACTIONS

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On June 30th, 2012, Light S.A. pertained to the controlling group Companhia Energtica de Minas Gerais CEMIG, Luce Empreendimentos e Participaes S.A. and Rio Minas Energia Participaes S.A (RME) company controlled by Redentor Energia S.A. Interest in subsidiaries and joint ventures is outlined in the Note 2. Below, a summary of related-party transactions occurred in the six months period of 2012 and in the year ended 2011:
Consolidated Groups Balance Sheet Supplier Contracts with the same group (Agreement objectives and characteristics) Strategic agreement Purchase agreement of electric power between Light SESA and CEMIG Strategic agreement Purchase agreement of electric power between Light SESA and CEMIG Strategic agreement Sale agreement of electric power between Light Energia and CEMIG Strategic agreement Collection of distribution system usage charges between Light SESA and CEMIG Strategic agreement Commitment to the basic electric network usage charges between Light Energia and CEMIG Strategic agreement Commitment to the basic electric network usage charges between Light Energia and CEMIG Strategic agreement Sale agreement of electric power between Lighter and Light Energia Strategic agreement Sale agreement of electric power between Lighter and CEMIG Relationship with a Light S.A. CEMIG (party of the controlling group) CEMIG (party of the controlling group) CEMIG (party of the controlling group) CEMIG (party of the controlling group) CEMIG (party of the controlling group) CEMIG (party of the controlling group) Lightger (jointly-owned subsidiary) CEMIG (party of the controlling group) ASSETS 6/30/2012 12/31/2011 LIABILITIES 6/30/2012 12/31/2011 6,201 9,091 REVENUE 6/30/2012 6/30/2011 EXPENSES 6/30/2012 6/30/2011 38,818 34,615

Supplier

135

178

738

675

Supplier

2,225

2,278

10,151

9,662

Supplier

159

213

1,068

1,134

Supplier

1,677

1,701

7,605

7,222

Supplier

12

11

72

61

Supplier

2,435

Supplier

2,270

Strategic agreement Other Receivables/ Loan agreement with Light S.A., which holds Other Payables 51% in Lightger, in order to honor financial commitments related to the implementation of the Pacambi small hydroelectric power plant (PCH) Post-employment Pension Plan benefit Fundao de Seguridade Social (Social Security Foundation) - BRASLIGHT

Lightger (jointly-owned subsidiary)

11,606

227

1,431

BRASLIGHT

1,092,399

1,096,140

60,226

74,181

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Below, a summary of agreements executed with related parties:

Groups Balance Sheet Supplier Contracts with the same group (Agreement objectives and characteristics) Strategic agreement Purchase agreement of electric power between Light SESA and CEMIG Strategic agreement Purchase agreement of electric power between Light SESA and CEMIG Strategic agreement Sale agreement of electric power between Light SESA and CEMIG Strategic agreement Collection of distribution system usage charges between Light SESA and CEMIG Strategic agreement Commitment to the basic electric network usage charges between Light Energia and CEMIG Strategic agreement Commitment to the basic electric network usage charges between Light Energia and CEMIG Strategic agreement Sale agreement of electric power between Lighter and Light Energia Strategic agreement Sale agreement of electric power between Lighter and CEMIG Strategic agreement Loan agreement with Light S.A., which holds 51% in Lightger, in order to honor financial commitments related to the implementation of the Pacambi small hydroelectric power plant (PCH) Pension Plan Fundao de Seguridade Social (Social Security Foundation) - BRASLIGHT Relationship with Light S.A. CEMIG (Party of the controlling group) CEMIG (Party of the controlling group) CEMIG (Party of the controlling group) CEMIG (Party of the controlling group) CEMIG (Party of the controlling group) CEMIG (Party of the controlling group) Lightger (Jointly-owned subsidiary) CEMIG (Party of the controlling group) Lightger (Jointly-owned subsidiary) Original amount Date Maturity date or term Conditions for termination or expiration 30% of remaining balance 30% of remaining balance Remaining balance 6/30/2012 Agreements conditions Price established in the regulated market Price established in the regulated market

614,049

Jan / 2006

Dec/2038

404,462

Supplier

37,600

Jan / 2010

Dec/2039

40,708

Supplier

156,239

Jan / 2005

Dec/2013

N/A

40,884

Price established in the regulated market

Supplier

Nov / 2003

Undetermined

N/A

159

Price established in the regulated market

Supplier

Dec / 2002

Undetermined

N/A

1,677

Price established in the regulated market

Supplier

Dec / 2002

Undetermined

N/A

12

Price established in the regulated market

Supplier

217,213

Dec / 2010

Jun / 2028

N/A

214,778

Price established in the regulated market

Supplier

208,818

Dec / 2010

Jun / 2028

N/A

206,548

Price established in the regulated market

Other Receivables/ Other Payables

35,586

Jan/11 to Sep/11

Sep/2012

N/A

CDI + 0.9% p.a.

Post-employment Benefit

BRASLIGHT

535,052

Jun / 2001

Jun/2026

N/A

1,092,399

IPCA+ 6% p.a.

Related-party transactions are under usual market conditions. MANAGEMENT REMUNERATION

Policy regarding remuneration of the Board of Directors, Executive Board, Fiscal Council and board committees. Pro-rata share of each component to the aggregate remuneration for the six months period of 2012.

Board of Directors Fixed Compensation: Board of Executive Officers Fixed Compensation: Variable Compensation: Outher: Fiscal Council Fixed Compensation:

100% 43% 52% 5% 100%

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Remuneration paid by the Company to the Board of Directors, Executive Board, and Fiscal Council in the first six months of 2012:
Board of Directors 21 601 601 601 Consolidated Statutory Board of Fiscal Council Executive Offcers 10 280 280 280 8.33 2,901 2,322 579 3,481 3,481 371 6,753

2012 Number of members (*) Fixed compensation in the six-month period Salary or pro-labore Direct and indirect benefits Variable compensation in the six-month period Bonus Severance pay Total compensation per body

Total 39.33 3,782 3,203 579 3,481 3,481 371 7,634

Average remuneration due to the Board of Directors, Executive Board, and Fiscal Council in the first six months of 2012:
Consolidated 2012 Number of members (*) Highest individual compensation Lowest individual compensation Average individual compensation Board of Directors 21 51 26 29 Fiscal Council 10 41 20 28 Statutory Board of Executive Offcers 8.33 1,099 465 811

*number of members calculated through the weighted average in the six-month period. 24. SHAREHOLDERS' EQUITY a) Capital There are 203,934,060 non-par and book-entry common shares of Light S.A. (203,934,060 on December 31st, 2011) as of June 30th, 2012 recorded as Capital Stock in the total amount of R$2,225,822 (R$2,225,822 on December 31st, 2011), as follows:
6/30/2012 SHAREHOLDERS Controlling Group RME Rio Minas Energia Participaes S.A. Companhia Energtica de Minas Gerais S.A. Luce Empreendimentos e Participaes S.A. Other BNDES Participaes S.A. - BNDESPAR Public Overall Total Number of Shares 106,304,597 26,576,150 53,152,298 26,576,149 97,629,463 27,453,983 70,175,480 203,934,060 % Interest 52.12 13.03 26.06 13.03 47.88 13.46 34.42 100 12/31/2011 Number of Shares 106,304,597 26,576,150 53,152,298 26,576,149 97,629,463 30,631,782 66,997,681 203,934,060 % Interest 52.12 13.03 26.06 13.03 47.88 15.03 32.85 100

Light S.A. is authorized to increase its capital up to the limit of 203,965,072 common shares through resolution of the Board of Directors, regardless of amendments to the bylaws. However, this increase is to occur exclusively upon the

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exercise of the warrants issued, strictly pursuant to the conditions of the warrants (Bylaws, Article 5, Paragraph 2). The Annual Shareholders Meeting held on April 11, 2012 approved the payment of additional dividends proposed based on the income recorded at December 31st, 2011 and profit reserves verified in the balance sheet at December 31, 2011, amounting to R$181,501 to be paid by October 31st, 2012. 25. EARNINGS PER SHARE Pursuant to the requirements of CPC 41 and the IAS 33 (Earnings per Share), the statement below reconciles the income for the year with the amounts used to calculate the basic and diluted earnings per share.

6/30/2012 NUMERATOR Net income for the period (R$) DENOMINATOR Weighted average number of common shares Basic and diluted earnings per common share 203,934,060 0.882 179,834

6/30/2011 211,665

203,934,060 1.038

There were no significant differences between the basic and diluted earnings per share as of June 30th, 2012 and 2011.

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26. NET OPERATING REVENUE

Consolidated April 1 to June 30 Supply to consumers/distributors (Note 27) Leases, rentals and other Revenue from network usage Revenue from construction Revenue from services rendered Taxed service fee GROSS REVENUE ICMS PIS/COFINS Other REVENUE TAXES 2012 2,319,848 12,719 201,655 162,222 21,254 992 2,718,690 (577,636) (139,357) (1,231) (718,224) 2011 2,092,856 438 170,425 179,234 30,924 960 2,474,837 (549,633) (125,513) (1,231) (676,377)

Fuel Consumption Account - CCC Energy Development Account - CDE Global Reversal Reserve - RGR Energy Research Company - EPE National Technological Development Fund - FNDCT Energy Efficiency Program - PEE Research and Development -R&D Other charges - ex-isolated Other charges - Proinfa CONSUMER CHARGES TOTAL DEDUCTIONS NET REVENUE

(81,924) (63,087) (35,097) (1,621) (3,246) (6,992) (3,246) (4,195) (3,168) (202,576) (920,800) 1,797,890

(76,416) (57,798) (3,519) (1,530) (3,062) (6,881) (3,061) (4,128) (4,141) (160,536) (836,913) 1,637,924

Consolidated January 1 to June 30 Supply to consumers/distributors (Note 27) Leases, rentals and other Revenue from network usage Revenue from construction Revenue from services rendered Taxed service fee GROSS REVENUE ICMS PIS / COFINS Other REVENUE TAXES 2012 4,861,610 25,032 393,742 299,671 44,888 2,055 5,626,998 (1,213,679) (299,054) (2,470) (1,515,203) 2011 4,534,968 6,575 367,031 326,267 45,920 1,594 5,282,355 (1,199,653) (283,608) (1,779) (1,485,040)

Fuel Consumption Account - CCC Energy Development Account - CDE Global Reversal Reserve - RGR Energy Research Company - EPE National Technological Development Fund - FNDCT Energy Efficiency Program - PEE Research and Development -R&D Other charges - ex-isolated Other charges - Proinfa CONSUMER CHARGES TOTAL DEDUCTIONS NET REVENUE

(165,684) (126,174) (70,194) (3,420) (6,843) (15,028) (6,843) (6,410) (9,016) (409,612) (1,924,815) 3,702,183

(152,832) (115,596) (7,038) (3,292) (6,586) (14,843) (6,585) (8,905) (9,037) (324,714) (1,809,754) 3,472,601

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27. REVENUE FROM ELECTRIC ENERGY OPERATIONS

Consolidated April 1 to June 30 Residential Industrial Commerce, services and other Rural Public sector Public lighting Public utility Own consumption Billed sales ICMS (State VAT) Unbilled sales TOTAL SUPPLY
(3)

Number of billed sales 2012 2011 3,722,349 10,726 301,073 11,437 11,189 729 1,464 432 4,059,399 4,059,399 4,059,399

(1) (2)

GWh 2012 1,969 373 1,685 13 395 169 290 22 4,916 4,916 1,172 235 1,407 6,323

(1)

R$ 2011 2,043 426 1,554 13 379 172 272 21 4,880 4,880 1,163 513 1,676 6,556 2012 717,186 84,416 551,647 2,802 136,390 28,316 63,284 1,584,041 568,143 (23,895) 2,128,289 149,940 41,619 191,559 2,319,848 2011 689,217 94,861 478,043 2,605 123,062 26,834 56,840 1,471,462 542,942 (47,524) 1,966,880 114,927 11,049 125,976 2,092,856

3,790,212 11,181 276,383 11,225 10,598 731 1,337 350 4,102,017 4,102,017 4,102,017

Electric power auction Short-term energy TOTAL SUPPLY OVERALL TOTAL

Consolidated January 1 to June 30 Residential Industrial Commerce, services and other Rural Public sector Public lighting Public utility Own consumption Billed sales ICMS (State VAT) Unbilled sales TOTAL SUPPLY
(3)

Number of billed sales 2012 2011 3,722,349 10,726 301,073 11,437 11,189 729 1,464 432 4,059,399 4,059,399 4,059,399

(1) (2)

GWh 2012 4,317 774 3,434 27 804 335 561 44 10,296 10,296 2,355 657 3,012 13,308

(1)

R$ 2011 4,530 852 3,284 27 789 340 548 43 10,413 10,413 2,350 837 3,187 13,600 2012 1,584,045 175,126 1,110,539 5,895 273,709 55,936 119,847 3,325,097 1,196,451 3,434 4,524,982 280,248 56,380 336,628 4,861,610 2011 1,533,689 193,580 986,778 5,535 251,550 52,982 112,626 3,136,740 1,186,540 (33,073) 4,290,207 225,793 18,968 244,761 4,534,968

3,790,212 11,181 276,383 11,225 10,598 731 1,337 350 4,102,017 4,102,017 4,102,017

Electric power auction Short-term energy TOTAL SUPPLY OVERALL TOTAL

(1) Unaudited by independent auditors (2) Number of billed sales in June 2012, with and without consumption (3) Light SESA

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28. OPERATING COSTS AND EXPENSES

April 1 to June 30 Nature of the expense Personnel and management Material Outsourced services Electricity purchased for resale (Note 29) Depreciation and amortization Allowance for doubtful accounts Provision for contingencies Cost of construction Other Total

Cost of Service Electric Power (1,086,411) (1,086,411) Operation (44,673) (4,093) (45,703) (72,920) (162,222) (5,428) (335,039) Selling (4,684) (326) (23,371) (273) (72,227) (319) (101,200)

Consolidated Operating Expenses General and Adm (21,183) (575) (35,870) (9,389) (11,775) (23,215) (102,007) Other Operating Revenues (Expenses) (907) (907) 2012 (70,540) (4,994) (104,944) (1,086,411) (82,582) (72,227) (11,775) (162,222) (29,869) (1,625,564) 2011 (75,758) (6,105) (108,422) (900,749) (92,424) (79,531) (19,776) (179,234) (28,908) (1,490,907)

January 1 to June 30 Nature of the expense Personnel and management Material Outsourced services Electricity purchased for resale (Note 29) Depreciation and amortization Allowance for doubtful accounts Provision for contingencies Cost of construction Other Total

Cost of Service Electric Power (2,133,925) (2,133,925) Operation (90,549) (7,278) (87,157) (152,475) (299,671) (10,489) (647,619) Selling (9,494) (580) (44,569) (570) (133,855) (616) (189,684)

Consolidated Operating Expenses General and Adm (42,937) (1,021) (68,405) (19,633) (37,178) (44,867) (214,041) Other Operating Revenues (Expenses) (2,235) (2,235) 2012 (142,980) (8,879) (200,131) (2,133,925) (172,678) (133,855) (37,178) (299,671) (58,207) (3,187,504) 2011 (137,630) (12,382) (212,056) (1,894,299) (183,214) (143,882) (16,695) (326,267) (54,005) (2,980,430)

29. ELECTRIC POWER PURCHASED FOR RESALE

Consolidated GWh April 1 to June 30 Connection charges Spot market energy Network usage charges UTE Norte Fluminense Itaipu - binational Energy transportation - Itaipu National Electric System Operator (O.N.S.) PROINFA ESS Other contracts and electric power auctions Backup power Total 2012 7 1,583 1,338 125 3,883 6,936 2011 23 1,583 1,343 122 3,889 6,960 2012 (7,464) (10,913) (117,919) (235,183) (151,291) (11,575) (5,439) (29,173) (22,502) (481,825) (13,127) (1,086,411) R$ 2011 (7,053) 167 (104,016) (216,261) (113,554) (8,885) (4,683) (22,317) (27,617) (396,530) (900,749)

Consolidated GWh January 1 to June 30 Connection charges Spot market energy Network usage charges UTE Norte Fluminense Itaipu - binational Energy transportation - Itaipu National Electric System Operator (O.N.S.) PROINFA ESS Other contracts and electric power auctions Backup power Total 2012 364 3,168 2,653 253 8,594 15,032 2011 772 3,150 2,666 233 8,263 15,084 2012 (14,907) (38,073) (236,849) (470,573) (274,115) (22,987) (10,368) (58,271) (45,992) (940,984) (20,806) (2,133,925) R$ 2011 (14,106) (27,071) (208,969) (430,134) (232,686) (18,343) (8,922) (43,879) (70,760) (836,516) (2,913) (1,894,299)

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30. FINANCIAL RESULT

Consolidated April 1 to June 30 REVENUES Default charges on electricity bills and debts paid by installments Income from investments Swap operations Other financial income EXPENSES Restatement of provision for contingencies Expenses with tax liabilities Debt charges Foreign exchange variation Swap operations Advance payment of accounts receivable Other financial expenses (4,702) (4,485) (113,702) (20,273) (30,913) (12,872) (186,947) FINANCIAL RESULT (118,609) (4,049) (14,837) (122,185) 2,935 (1,697) (6,951) (146,784) (88,876) 23,468 10,108 19,485 15,277 68,338 35,689 16,075 6,144 57,908 2012 2011

Consolidated January 1 to June 30 REVENUES Default charges on electricity bills and debts paid by installments Income from investments Swap operations Other financial income EXPENSES Restatement of provision for contingencies Expenses with tax liabilities Debt charges Foreign exchange variation Swap operations Advance payment of accounts receivable Other financial expenses (15,853) (7,630) (240,185) (15,935) (30,913) (37,802) (348,318) FINANCIAL RESULT (246,590) (18,968) (22,554) (228,406) 3,403 (3,225) (10,114) (279,864) (185,473) 42,138 23,521 17,600 18,469 101,728 55,442 27,035 11,914 94,391 2012 2011

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31. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT The statement below reconciles the carrying and fair values of assets and liabilities related to our financial instruments:
Parent Company 6/30/2012 12/31/2011 Book value Fair Value Book value Fair Value 35,182 5,967 41,149 35,182 5,967 41,149 55,057 13,763 68,820 55,057 13,763 68,820

ASSETS Cash and cash equivalents (Note 4) Other receivables (Note 11) Total LIABILITIES Suppliers (Note 15) Other payables (Note 22) Total

290 2,535 2,825

290 2,535 2,825

197 2,488 2,685

197 2,488 2,685

ASSETS Cash and cash equivalents (Note 4) Short-term investments (Note 5) Concessionaires and permissionaires (Note 6) Swaps Concession financial assets (Note 10) Other receivables (Note 11) Total LIABILITIES Suppliers (Note 15) Loans and financing (Note 16) Debentures (Note 17) Swaps Other payables (Note 22) Total

Consolidated 6/30/2012 12/31/2011 Book value Fair Value Book value Fair Value 522,960 15,479 1,543,531 27,659 817,967 180,522 3,108,118 522,960 15,479 1,543,531 27,659 817,967 180,522 3,108,118 772,548 8,171 1,682,158 4,555 656,473 181,529 3,305,434 772,548 8,171 1,682,158 4,555 656,473 181,529 3,305,434

731,080 2,074,052 1,880,622 357,902 5,043,656

731,080 2,351,948 1,880,934 357,902 5,321,864

757,158 2,133,673 1,969,973 1,763 380,565 5,243,132

757,158 2,074,450 1,970,360 1,763 380,565 5,184,296

In compliance with CVM Rule No. 475/2008 and CVM Resolution No. 604/2009, which revoked Resolution No. 566/2008, the description of accounting balances and fair values of financial instruments stated in the balance sheet as of June 30th, 2012 are identified as follows:

Cash and cash equivalents Cash equivalents are represented byu short term investments in bank deposit certificates are measured at their fair value duly on the balance sheet date.

Short-term investments Represented bubank deposit certificates are measured at their fair value on the balance sheet date.

Consumers, concessionaries and permissionaires and clients These are classified as loans and receivables, measured at the amortized cost, being recorded at their original values and subject to a provision for losses and adjustments to their present values, where applicable.

84

Financial concession assets These are classified as loans and receivables, measured at the amortized cost, being recorded at their original values and subject to a provision for losses, where applicable.

Suppliers Accounts payable to suppliers of materials and services required in the operations of the Company, the amounts of which are known or easily determinable, added, where applicable, of relevant charges, escalation and/or exchange costs incurred as of the balance sheet date. These balances are classified as financial liability not measured at fair value and were recognized at their amortized cost, which is not significantly different from their fair value.

Loans, financings and debentures These are measured by the amortized cost method. Fair value was calculated at interest rates applicable to instruments with similar nature, maturities and risks, or based on market quotations of these securities. The fair value for BNDES financing is identical to the accounting balance, since there are no similar instruments, with comparable maturities and interest rates. These financial instruments are classified as financial liabilities not measured at the fair value.

Other assets and liabilities They are classified as "loans and receivables", measured at amortized cost and stated at their original values, accrued of, where applicable, corresponding charges, monetary and/or currency variations incurred up to the balance sheet date or subject to a provision for losses, where applicable.

Swaps These are measured at fair value. A determination of fair value used available information on the market and usual pricing methodology: the face value (notional) evaluation for long position (in U.S. dollars) until maturity date and discounted at present value of clean coupon rates, published in bulletins of Securities, Commodities and Futures Exchange BM&FBovespa. The estimated fair value of financial assets and liabilities was determined by means of information available on the market and appropriate valuation methodologies. Nevertheless, meaningful judgment was required when interpreting market data to produce the most appropriate fair value estimate. As a result, estimates used and presented below do not necessarily indicate the amounts that may be realized in current exchange market.

85

a) Financial Instruments by category:

Parent Company 6/30/2012 Loans and receivables 213 5,967 6,180 Fair value though profit and loss 34,969 34,969 Loans and receivables 38,799 1,543,531 817,967 180,522 2,580,819 Consolidated 6/30/2012 Fair value though profit and loss 484,161 15,479 27,659 527,299

ASSETS Cash and cash equivalents (Note 4) Short-term investments (Note 5) Concessionaires and permissionaires (Note 6) Swaps Concession financial assets (Note 10) Other receivables (Note 11) Total

Total 35,182 5,967 41,149

Total 522,960 15,479 1,543,531 27,659 817,967 180,522 3,108,118

LIABILITIES Suppliers (Note 15) Loans and financing (Note 16) Debentures (Note 17) Other payables (Note 22) Total

Amortized cost 290 2,535 2,825

Fair value though profit and loss -

Total 290 2,535 2,825

Amortized cost 731,080 2,074,052 1,880,622 357,902 5,043,656

Fair value though profit and loss -

Total 731,080 2,074,052 1,880,622 357,902 5,043,656

b) Policy concerning derivative instruments The Company has a policy of using derivative instruments which has been approved by its Board of Directors. According to this policy, the debt service (principal plus interest and charges) denominated in foreign currency maturing within 24 months is to be hedged, except no speculative transaction is allowed, whether using derivatives or any other risky asset. In line with the policy standards, the Company does not have any options, swaptions, callable swaps, flexible options, derivatives embedded in other products, derivative-structured transactions and so-called exotic derivatives. Furthermore, the statement above denotes that the Company use cashless exchange rate swaps (US$ vs. CDI), of which the Notional Contract Value is equal to the amount of the debt service denominated in foreign currency maturing in 24 months. c) Risk management and goals achieved Management of derivative instruments is achieved through operating strategies with a view to liquidity, profitability and safety. Our control policy consists of ongoing enforcement of policy standards concerning the use of derivative instruments, as well as continued monitoring of agreed upon rates versus market rates. d) Market Risk During the normal course of its businesses, the Company and its subsidiaries are exposed to the market risks related to currency variations and interest rates, as evidenced in the chart below:

86

Debt breakdown (excluding financial charges):

Consolidated 6/30/2012 R$ USD EUR Foreign currency (current and noncurrent) CDI TJLP Other Local currency (current and noncurrent) Overall total (current and noncurrent) 148,403 90,601 239,004 2,410,818 1,184,062 120,790 3,715,670 3,954,674 % 3.7 2.3 6.0 61.0 29.9 3.1 94.0 100.0 R$ 144,412 85,191 229,603 2,538,473 1,206,499 129,071 3,874,043 4,103,646 12/31/2011 % 3.5 2.1 5.6 61.9 29.4 3.1 94.4 100.0

On June 30th, 2012, according to the chart above, the foreign currencydenominated debt is R$239,004, or 6.00% of total debt (R$229,603, corresponding to 5.6% on December 31st, 2011). Financial derivative instruments were contracted for the amount of foreign currency-denominated debt service to expire within 24 months, in the swap modality, whose notional value on June 30th, 2012 stood at US$64,437 (US$66,804 on December 31st, 2011) and 34,969 (34,969 on December 31st, 2011), according to the policy for utilization of derivative instruments approved by the Board of Directors. Thus, if we deduct this amount from total foreign currencydenominated debt, the foreign exchange exposure represents 0.60% of total debt (0.57% on December 31st, 2011). Below, is provided a few considerations and analyses on risk factors impacting on business of Light Groups companies: Exchange rate risk

Considering that a portion of the subsidiary Light SESAs loans and financings are denominated in foreign currency, the company uses derivative financial instruments (swap operations) to hedge against service associated with these debts (principal plus interest and commissions) to expire within 24 months in addition to the swap of previously mentioned rates.

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Derivative operations, comprising currency swaps and interest, the latter reported below, resulted in an R$19,485 gain in the second quarter of 2012 (loss of R$1,697 in the second quarter of 2011). The net amount of swap operations as of June 30th, 2012, considering the fair value, is positive at R$27,659 (positive at R$2,792 on December 31st, 2011), as shown below:
Currency Sw ap Notional Value Contracted (US$ thousand) 2,970 5,010 63 3,211 61 3,064 58 50,000 Fair Value Jun/12 (R$) Assets 361 5,138 3 313 13 1,051 16 11,525 Fair Value Jun/12 (R$) Liabilities Fair Value Jun/12 (R$) Balance 361 5,138 3 313 13 1,051 16 11,525

Institution

Light's Receivable

Light's Payable

Starting Date Maturity Date

Banco Itau Banco Itau Bradesco HSBC Bradesco HSBC HSBC

US$+3.07% US$+2.82% US$+2.50% US$+2.20% US$+2.72% US$+3.58% US$+2.95%

100% CDI 100% CDI 100% CDI 100% CDI 100% CDI 100% CDI 100% CDI 100%CDI+0.65%

12/28/2011 4/11/2012 9/10/2010 10/11/2010 3/10/2011 4/12/2011 9/12/2011 11/10/2011

10/10/2013 4/10/2014 9/12/2012 10/9/2012 3/12/2013 4/10/2013 9/12/2013 11/10/2016

Merilin Lynch Libor+2.5294%

Institution

Light's Receivable

Light's Payable

Starting Date Maturity Date

Notional Value Contracted (EURO thousand) 34,969 99,406

Notional Value Contracted (US$ thousand) 5,273 64 5,010 63 3,211 61 3,064 58 50,000

Fair Value Jun/12 (R$) Assets 5,582 24,002

Fair Value Jun/12 (R$) Liabilities -

Fair Value Jun/12 (R$) Balance 5,582 24,002

BNP

Euro+4.6823%

100%CDI+1.30%

10/21/2011

10/21/2014 Total

Currency Sw ap Light's Receivable Fair Value Dec/11 (R$) Assets 46 2 6 693 9 3,609 Fair Value Dec/11 (R$) Liabilities (11) (773) (3) Fair Value Dec/11 (R$) Balance 46 (11) (773) (3) 2 6 693 9 3,609

Institution

Light's Payable

Starting Date Maturity Date

Banco Itau Citibank Banco Itau Bradesco HSBC Bradesco HSBC HSBC

US$+2.79% US$+3.20% US$+2.82% US$+2.50% US$+2.20% US$+2.72% US$+3.58% US$+2.95%

100% CDI 100% CDI 100% CDI 100% CDI 100% CDI 100% CDI 100% CDI 100% CDI 100%CDI+0.65%

10/9/2009 3/10/2010 4/12/2010 9/10/2010 10/11/2010 3/10/2011 4/12/2011 9/12/2011 11/10/2011

10/11/2011 3/12/2012 4/10/2014 9/12/2012 10/9/2012 3/12/2013 4/10/2013 9/12/2013 11/10/2016

Merilin Lynch Libor+2.5294%

Institution

Light's Receivable

Light's Payable

Starting Date Maturity Date

BNP

Euro+4.6823%

100%CDI+1.30%

10/21/2011

10/21/2014 Total

Notional Value Contracted (EURO thousand) 34,969 101,773

Fair Value Dec/11 (R$) Assets 4,365

Fair Value Dec/11 (R$) Liabilities (976) (1,763)

Fair Value Dec/11 (R$) Balance (976) 2,602

The amount recorded was measured by its fair value on June 30th, 2012. All operations with derivative financial instruments are registered in clearing houses for the custody and financial settlement of securities and there is no margin deposited in guarantee. Operations have no initial cost. Below, the sensitivity analysis for foreign exchange rates fluctuations, showing eventual impacts on financial result of the Company and its subsidiaries.

88

The methodology used in the Probable Scenario considered the foreign exchange rate on June 30th, 2013. It is worth highlighting that, as this refers to a sensitivity analysis of the impact on the financial result for the next 12 months, debt balances on June 30th, 2012 were considered. It is worth mentioning that the behavior of debt and derivatives balances will observe their respective contracts, and the balance of temporary cash investments will fluctuate according to the need or available funds of the Company and its subsidiaries. Exchange Rate Sensitivity Analysis:

R$ Operation FINANCIAL LIABILITIES Par Bond Discount Bond C. Bond Debit. Conv. Bib Merril Lynch BNP (EURO) DERIVATIVES Swaps TOTAL Reference for financial assets and liabilities R$/US$ exchange rate (end of the period) R$/EURO exchange rate (end of the period) 2.0213 2.5606 USD USD USD USD USD USD EURO USD / EURO 69,271 20,382 115,291 63,834 +25% 2.5266 3.2008 178,749 124,724 +50% 3.0320 3.8409 Risk Scenario (I): Probable (48,889) (17,869) (3,058) (4,266) (57) (88) (9,839) (13,712) Scenario (II) (51,457) (18,819) (3,203) (4,481) (58) (91) (10,367) (14,438) Scenario (III) (54,025) (19,769) (3,348) (4,696) (58) (96) (10,894) (15,164)

With the chart above, it is possible to identify that the partial hedge against foreign currency-denominated debt (only limited to debt service to expire within 24 months), as when R$/US$ quote increases, liabilities financial expense also increases but financial income of derivatives also partially offset this negative impact and vice-versa. Thus, cash is partially hedged thanks to the derivatives policy of the Company. Interest rate risk

This risk derives from impact of interest rates fluctuation not only over financial expense associated with loans and borrowings of the Company, but also over financial income deriving from temporary cash investments. The policy for utilization of derivatives approved by the Board of Directors does not comprise the contracting of instruments against such risk. Nevertheless, the Company continuously monitors interest rates so that to evaluate eventual need of contracting derivatives to hedge against interest rates volatility risk.

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As at June 30th, 2012, the interest rate swap operation associated with the maturity of Bradesco CCB with notional value of R$150,000 (R$150,000 on December 31st, 2011), duly authorized by the Management, stated a gain of R$3,657 (R$190 on December 31st, 2011), considering the fair value, according to the following table:
Interest rate sw ap Light's Receivable Notional Value Contracted (R$ thousand) 150,000 Fair Value Jun/12 (R$) Assets 3,657 Fair Value Jun/12 (R$) Liabilities Fair Value Jun/12 (R$) Balance 3,657

Institution

Light's Payable

Starting Date Maturity Date

HSBC

CDI+0.85%

101.9%CDI+(TJLP6%)

10/11/2010

10/9/2012

Total

150,000

3,657

3,657

Interest rate sw ap Light's Receivable Notional Value Contracted (EURO thousand) 150,000 Fair Value Dec/11 (R$) Assets 190 Fair Value Dec/11 (R$) Liabilities Fair Value Dec/11 (R$) Balance 190

Institution

Light's Payable

Starting Date Maturity Date

HSBC

CDI+0.85%

101.9%CDI+(TJLP6%)

10/11/2010

10/9/2012

Total

150,000

190

190

Below, the sensitivity analysis for interest rates fluctuations, showing possible impacts on the financial result of the Company. The methodology used in the Probable Scenario considered the foreign exchange rate on June 30th, 2013. It is worth highlighting that, as this refers to a sensitivity analysis of the impact on the 2012 financial result, debt and investment balances on June 30th, 2012 were considered. It is worth mentioning that the behavior of debt and derivatives balances will observe their respective contracts, and the balance of investments will fluctuate according to the need or available funds of the Company.

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Risk of Interest Rate Increase:

R$ Operation FINANCIAL ASSETS Temporary cash investments FINANCIAL LIABILITIES Debentures 5th issue CCB Bradesco CCB Bco Santander Debentures 4th issue FINEM BNDES 2006-2008 FINEM BNDES 2009-2010 FINEM BNDES 2009-2010 TJLP+1 PROESCO Debentures 7th issue Debentures 1st issue Light Energia Debentures 2nd issue Light Energia BNDES Light Ger BNDES - Capex 11/12 Subcred.2 BNDES - Capex 11/12 Subcred.3 BNDES - Capex 11/12 Subcred.4 DERIVATIVES Currency swaps Interest rate swaps Interest rate swaps TOTAL Reference for FINANCIAL ASSETS CDI (% end of the year) Reference for FINANCIAL LIABILITIES CDI (% end of the period) TJLP (% end of the period) CDI CDI TJLP 69,271 975 975 (219,894) 38,275 663 316 (275,417) +25% 10.48% +25% 10.48% 6.88% 23,937 587 336 (313,417) +50% 12.57% +50% 12.57% 8.25% CDI CDI CDI TJLP TJLP TJLP TJLP TJLP CDI CDI CDI TJLP TJLP TJLP TJLP CDI 22,286 (313,401) (64,187) (40,812) (7,898) (8) (12,757) (12,162) (13,631) (607) (62,721) (16,686) (39,945) (5,791) (7,537) (13,488) (15,171) 27,722 (342,393) (70,043) (44,913) (8,629) (8) (14,067) (13,166) (14,639) (661) (68,667) (18,256) (43,824) (6,251) (8,233) (14,673) (16,363) 33,108 (371,385) (75,899) (49,013) (9,360) (9) (15,377) (14,169) (15,648) (714) (74,614) (19,826) (47,703) (6,711) (8,928) (15,860) (17,554) Risk Scenario (I): Probable Scenario (II) Scenario (III)

8.38% 8.38% 5.50%

Credit risk

It refers to the Company eventually suffering losses deriving from default of counterparties or financial institutions depositary of funds or temporary cash investments. To mitigate these risks, the Company uses all collection tools allowed by the regulatory body, such as disconnection for delinquency, debit losses and permanent monitoring and negotiation of outstanding positions. Item "a" of this note contains a summary of the financial instruments broken down by category, including the Company's maximum credit risk. Concerning financial institutions, the Company only carries out low-risk operations, classified by rating agencies. The Company has a policy of not concentrating its portfolio in certain financial institution. Therefore, the policys principle is to control the portfolio concentration through limits imposed to the Groups and monitoring financial institutions through their shareholders equity and ratings.

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Through its policy, the Company will be able to invest in fixed income products and Interbank Deposit Rate (CDI)-indexed floating income and floating government bonds. The definition of the groups for allocation of resources is described below, as well as the percentage of current share in the Companys portfolio: Group 1 federal banks; shareholders equity: not applicable; minimum rating: Not applicable; percentage in the portfolio: 7.4%. Group 2 Financial Institutions with Shareholders Equity higher than or equal to 7 billion; Minimum Rating: AA (S&P and Fitch) or Aaa (Moodys). Percentage in the portfolio: 74.2%. Group 3 Financial institutions with Shareholders Equity between 1 to 7 billion; Minimum Rating: AA (S&P and Fitch) or Aaa (Moody's). Percentage in the Portfolio: 13.7%. Group 4 Financial Institutions with Shareholders Equity between 500 million and 1 billion; Minimum Rating: A (S&P and Fitch) or A2 (Moodys). Percentage in the portfolio: 4.6%. Group 5 - Only Financial Institutions with restricted court deposits. Percentage in the portfolio: 0.1%. Liquidity risk

Liquidity risk relates to the Company's ability to settle its liabilities. In order to determine the ability to satisfactorily meet its financial liabilities, the streams of maturities for funds raised and other liabilities are reported with the Company's statements. Further information on the loans can be found in detail in Notes 16 and 17. The Company has raised funds through its operations, from financial market transactions and from affiliate companies. These funds are allocated primarily to support its investment plan and in managing its cash for working capital and liability management purposes. Management of temporary cash investments focuses on short-term instruments in an attempt to achieve maximum liquidity and satisfy our expenditure requirements. The Company's cash-generation ability and low volatility concerning receivables and accounts payable over the year provide cash flow stability and thus reduce its liquidity exposure.

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The cash flows concerning for the future liabilities as per the relevant terms and conditions is summarized in the statement below:
Consolidated Interest rate instruments: Floating Loans, financing and debentures Fixed rate Loans, financing and debentures 1,606 20,450 145,216 199,036 366,308 204,675 731,883 4,071,322 1,188,603 6,196,483 1 to 3 months 3 months to 1 year 1 to 5 years More than 5 years Total

a)

Capital Management The Company manages its capital with the purpose of safeguarding its capacity to continuously offer return to shareholders and benefits to other stakeholders, in addition to maintaining the ideal capital structure to reduce costs. In order to maintain or adjust its capital structure, the Company reviews the dividend payment policy, returns capital to shareholders or issues new shares and sells assets to reduce the indebtedness level, for instance.

b)

Hierarchical Fair Value There are three types of classification levels for the fair value of financial instruments. This hierarchy prioritizes unadjusted prices quoted in an active market for financial assets or liabilities. The classification of hierarchical levels can be presented as follows: Level 1 - Data originating from an active market (unadjusted quoted price) that can be accessed on a daily basis, including on the date of fair value measurement. Level 2 - Different data originating from the active market (unadjusted quoted price) included in Level 1, extracted from a pricing model based on data observable in the market. Level 3 - Data extracted from a pricing model based on data that are not observable in the market.
Consolidated Measurement of Fair Value 6/30/2012 Identical markets Level 1 Similar markets Level 2 484,161 15,479 27,659 527,299 Without active market Level 3 -

ASSETS Cash and cash equivalents (Note 4) Short-term investments (Note 5) Swaps Total 484,161 15,479 27,659 527,299

No financial instrument classified as Level 1 or 3 was observed in the analysis period, and there was no transfer from one level to another in the same period.

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32.

INSURANCE

Below, a breakdown of main insurance considered sufficient by Management on June 30th, 2012 is summarized as follows:
Effectiveness Term From To 8/10/2011 9/25/2011 10/31/2011 8/10/2012 9/25/2012 10/31/2012 Insured Amount US$20,000 R$20,000 R$ 3,673,828 Gross Premium (including cost of insurance policy + IOF) US$121 R$902 R$1,539

RISKS Directors & Officers (D&O) Civil and general liability Operating risks* * Maximum Limit of Liability (LMR) is R$300,000 - Indemnity * Total Value at Risk of R$3,673,828

The assumptions of risks adopted, given their nature, are not included within the scope of a review and, therefore, were unaudited by independent auditors. 33. REPORTABLE SEGMENT

Segment reporting was prepared according to CPC 22 (Operating Segment), equivalent to IFRS 8, and is reported in relation to the business of the Company, identified based on their management structure and internal management information. The Company's Management considers the following segments: power distribution, power generation, power trading and others (including the holding). The Company is segmented according to its operation, which has different risks and compensation. Segment reporting for the six month-period ended June 30th, 2012 and the year ended December 31st, 2011 are presented below:

Distribution Current assets Non-current assets Investments Property, plant and equipment Intangible assets Current liabilities Non-current liabilities Shareholders' equity 1,993,503 2,443,289 20,304 209,738 3,814,889 1,762,137 4,358,782 2,360,804 -

Generation 228,883 5,845 37,092 1,871,353 261,173 249,941 1,363,608 790,797 -

Trading 95,187 26,711 8,018 39,984 5,557 84,375 -

Other 165,306 288 3,244,861 2,104 1,872 187,752 161 3,226,518 -

Eliminations (209,449) (133,808) (3,242,787) (209,449) (133,808) (3,242,787)

Consolidated 6/30/2012 2,273,430 2,342,325 59,470 2,091,213 4,077,934 2,030,365 5,594,300 3,219,707

Distribution Current assets Non-current assets Investments Property, plant and equipment Intangible assets Current liabilities Non-current liabilities Shareholders' equity 2,401,047 2,257,722 16,374 209,720 3,814,959 1,802,777 4,582,870 2,314,175

Generation 259,582 5,847 36,231 1,767,482 258,192 216,638 1,338,937 771,759

Trading 61,432 31,050 6,589 28,302 6,645 64,124

Other 153,432 273 3,146,008 2,042 3,598 88,029 3,217,324

Eliminations (148,618) (155,294) (3,144,527) (1,481) (148,618) (155,294) (3,146,008)

Consolidated 12/31/2011 2,726,875 2,139,598 54,086 1,985,833 4,075,268 1,987,128 5,773,158 3,221,374

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Income segment reporting:

January 1 to June 30 OPERATIONAL REVENUE Billed supplies Unbilled supplies Supply - Electric Power Construction revenue Other REVENUE DEDUCTIONS Billed sales - ICMS (State VAT) Consumer charges PIS (Tax on Revenues) COFINS (Tax on Revenues) Other NET OPERATING REVENUE OPERATING EXPENSES AND COSTS Personnel Material Outsourced services Energy purchased Depreciation Provisions Construction cost Other Equity method FINANCIAL RESULT Financial income Financial expenses INCOME BEFORE TAXES Social Contribution Income tax NET INCOME Distribution 5,290,128 4,521,548 3,434 18,708 299,671 446,767 (1,879,039) (1,196,451) (402,919) (49,568) (228,308) (1,793) 3,411,089 (3,034,596) (126,524) (7,374) (174,354) (2,070,980) (143,563) (170,518) (299,671) (41,612) (212,284) 95,854 (308,138) 164,209 (13,567) (36,913) 113,729 Generation 242,585 233,546 9,039 (25,548) (6,693) (3,362) (15,481) (12) 217,037 (83,583) (11,799) (609) (9,522) (16,935) (28,670) (515) (15,533) (34,863) 13,388 (48,251) 98,591 (9,358) (24,631) 64,602 Trading 187,631 173,887 13,744 (19,751) (17,228) (367) (1,692) (464) 167,880 (156,855) (2,602) (869) (6,839) (145,277) (400) (868) 57 787 (730) 11,082 (992) (2,680) 7,410 Other 6,113 6,113 (477) (93) (183) (201) 5,636 (11,929) (2,055) (27) (9,416) (45) (386) 184,318 2,306 2,412 (106) 180,331 (38) (76) 180,217 Eliminations (99,459) (89,513) (9,946) (99,459) 99,459 99,267 192 (184,318) (1,806) (10,713) 8,907 (186,124) (186,124) Consolidated 2012 5,626,998 4,521,548 3,434 336,628 299,671 465,717 (1,924,815) (1,213,679) (409,612) (53,390) (245,664) (2,470) 3,702,183 (3,187,504) (142,980) (8,879) (200,131) (2,133,925) (172,678) (171,033) (299,671) (58,207) (246,590) 101,728 (348,318) 268,089 (23,955) (64,300) 179,834 Consolidated 2011 5,282,355 4,323,280 (33,073) 244,761 326,267 421,120 (1,809,754) (1,199,653) (324,714) (50,621) (232,987) (1,779) 3,472,601 (2,980,430) (137,630) (12,382) (212,056) (1,894,299) (183,214) (160,577) (326,267) (54,005) (185,473) 94,391 (279,864) 306,698 (27,928) (67,105) 211,665

34. LONG-TERM INCENTIVE PLAN Phantom Share Option Plan The Phantom Share Option Plan was offered to eligible executives appointed by the Board of Directors and is directly related to creating value for Light, measured by Light's Value Unit (UVL) variation. The UVL calculation results from the following weighted factors: 1. Market value of Light S.A. shares; 2. Economic value (a multiple of EBITDA); 3. Amount of dividends distributed. The difference between the UVL estimated in the Program for the grant year and the UVL verified in the year of option exercise multiplied by the number of options exercised by participant will sum up the total long-term bonus payable to each participant. The Company made the calculations referring to the UVL as of June 30th, 2012, as this amount was lower than the UVL in the grant year, no liability was recorded on June 30th, 2012.

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35. SUBSEQUENT EVENTS a) BNDESPAR entered into the Share Capital of Renova Energia On July 13th, 2012, Renova Energia and BNDES Participaes S.A. (BNDESPAR), a wholly-owned subsidiary of the Brazilian Development Bank (BNDES), signed an agreement whereby BNDESPAR would hold interest in the capital of Renova Energia through an investment of up to R$314,700 and shall be entitled to elect a member on the Board of Directors, but it will not compose Renova Energias controlling interest. On August 2nd, 2012, BNDESPAR paid-up capital of R$250,000, corresponding to 22,673,874 common shares and 4,111,649 preferred shares. b) Approval of debenture issue The Board of Directors approved the 8th issue of non-convertible unsecured debentures, in single series for the subsidiary Light SESA, totaling R$470,000, which will be purpose of a private offering. The issue date will be set by September 30, 2012. The Board of Directors approved the 3rd issue of non-convertible unsecured debentures, in single series for the subsidiary Light Energia, totaling R$30,000, which will be the purpose of a private offering. The issue date will be set by September 30, 2012.

BOARD OF DIRECTORS SITTING MEMBERS Srgio Alair Barroso Humberto Eustquio Csar Mota Raul Belens Jungmann Pinto Cristiano Corra de Barros Djalma Bastos de Morais Jos Carlos Aleluia Costa Rutelly Marques da Silva Andr Fernandes Berenguer Gilherme Narciso de Lacerda David Zylberstajn Carlos Alberto da Cruz ALTERNATES Luiz Fernando Rolla Csar Vaz de Melo Fernandes Fernando Henrique Schuffner Neto Carmen Lcia Claussen Kanter Wilson Borrajo Cid Jos Augusto Gomes Campos Mrcio Lus Domingues da Silva Marcelo Pedreira de Oliveira Vacant position Almir Jos dos Santos Magno dos Santos Filho

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FISCAL COUNCIL SITTING MEMBERS Marcelo Lignani Siqueira Aristteles Luiz Menezes Vasconcellos Drummond Eduardo Grande Bittencourt Rogrio Fernando Lot Ernesto Costa Pierobon ALTERNATES Francisco Luiz Moreira Penna Ari Barcelos da Silva Ronald Gasto Andrade Reis Francisco Vicente Santana Silva Telles Raphael Manhes Martins

BOARD OF EXECUTIVE OFFICERS Paulo Roberto Ribeiro Pinto Chief Executive Officer Joo Batista Zolini Carneiro Chief Financial and Investor Relations Officer Andreia Ribeiro Junqueira e Souza Personnel Officer Paulo Carvalho Filho Corporate Management Officer

Evandro Leite Vasconcelos Energy Officer and Business Development Officer (ad interim) Jos Humberto Castro Distribution Officer Fernando Antnio Fagundes Reis Legal Officer Luiz Otvio Ziza Mota Valadares Communication Officer

CONTROLLERSHIP SUPERINTENDENCE Roberto Caixeta Barroso Controllership Superintendent CPF 013.011.556-83 CRC-MG 078086/O-8 Suzanne Lloyd Gasparini Accountant Accounting Manager CPF 081.425.517-56 CRC-RJ 107359-0

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Deloitte Touche Tohmatsu Av. Presidente Wilson, 231 - 22 Rio de Janeiro - RJ - 20030-905 Brasil Tel: + 55 (21) 3981-0500 Fax:+ 55 (21) 3981-0600 www.deloitte.com.br

(Convenience Translation into English from the Original Previously Issued in Portuguese) REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION To the Shareholders, Board of Directors and Management of Light S.A. Rio de Janeiro - RJ Introduction We have reviewed the accompanying individual and consolidated interim financial information of Light S.A. (the Company), included in the Interim Financial Information Form (ITR), for the quarter ended June 30, 2012, which comprises the balance sheets as of June 30, 2012 and the related income statements for the three and six-month periods then ended and the statements of changes in equity and statements of cash flows for the six-month period then ended, including the explanatory notes. Management is responsible for the preparation of the individual interim financial information in accordance with CPC 21 - Interim Financial Reporting and the consolidated interim financial information in accordance with CPC 21 and IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board (IASB), as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities Commission (CVM), applicable to the preparation of Interim Financial Information (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review. Scope of review We conducted our review in accordance with Brazilian and international standards on review of interim financial information (NBC TR 2410 and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the standards on auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion on the individual interim financial information Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual interim financial information included in the ITR referred to above is not prepared, in all material respects, in accordance with CPC 21 applicable to the preparation of Interim Financial Information (ITR) and presented in accordance with the standards issued by the Brazilian Securities Commission.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Deloitte Touche Tohmatsu. All rights reserved.

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Deloitte Touche Tohmatsu Av. Presidente Wilson, 231 - 22 Rio de Janeiro - RJ - 20030-905 Brasil Tel: + 55 (21) 3981-0500 Fax:+ 55 (21) 3981-0600 www.deloitte.com.br

Conclusion on the consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial information included in the ITR referred to above is not prepared, in all material respects, in accordance with CPC 21 and IAS 34 applicable to the preparation of Interim Financial Information (ITR) and presented in accordance with the standards issued by the Brazilian Securities Commission. Other matters Statements of value added We have also reviewed the individual and consolidated interim statements of value added (DVA), for the six-month period ended June 30, 2012, prepared under the responsibility of the Company's management, the presentation of which is required by the standards issued by the Brazilian Securities Commission (CVM) applicable to the preparation of Interim Financial Information (ITR), and considered as supplemental information for IFRS that does not require the presentation of DVA. These statements were subject to the same review procedures described above and, based on our review, nothing has come to our attention that causes us to believe that they are not prepared, in all material respects, in relation to the individual and consolidated interim financial information taken as a whole. Review of individual and consolidated interim financial information for the quarter ended June 30, 2011, and audit of individual and consolidated financial statements for the year ended December 31, 2011 Information and amounts related to the quarter and six-month periods ended June 30, 2011, presented for comparative purposes, were reviewed by other independent auditors, who issued their report on August 05, 2011, which did not contain any changes. Information and amounts related to the year ended December 31, 2011, presented for comparative purposes, were audited by other independent auditors, who issued their report on March 02, 2012 which did not contain any changes, except for the emphasis of matters paragraph related to the individual interim financial information was prepared in accordance with the accounting practices adopted in Brazil and in the case of Light S.A. theses accounting practices differ from the International Financial Reporting Standards (IFRS) issued by International Accounting Standard Board IASB applicable to separate financial statements, only with respect to the measurement of investments in subsidiaries, associates and joint ventures by the equity method of accounting, which, for purposes of IFRS, would be measured at cost or fair value. The accompanying interim financial information has been translated into English for the convenience of readers outside Brazil. Rio de Janeiro, August 9, 2012

DELOITTE TOUCHE TOHMATSU Auditores Independentes

Antnio Carlos Brando de Sousa Engagement Partner

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Deloitte Touche Tohmatsu. All rights reserved.

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