REGISTER

In 1Q22, gross debt totaled R$ 7,599.5 million and the cash position totaled R$ 1,463.3 million, resulting in a net debt of R$ 6,136.1 million. The 14.9% increase in gross debt in the period is basically due to the 11th issue of debentures by TAESA, concluded in February of this year.

The 270.7% increase in Cash and Cash Equivalents in the quarter is mainly explained by the funds raised from the 11th issuance of debentures and the operating cash flow in the period.

By proportionally consolidating the jointly-controlled and affiliated companies, the total gross debt is R$ 9,667.4 million and the cash position is R$ 1,694.3 million, considering the following amounts: (i) TBE’s debts in the amount of R$ 963.2 million and cash/applications of R$ 106.9 million; (ii) ETAU’s debt in the amount of R$ 3.7 million and
cash/investments of R$ 6.3 million; (iii) Transmineiras’ debt in the amount of R$ 48.6 million and cash/investments of R$ 10.5 million; and (iv) AIE’s debt (Aimorés, Paraguaçu and Ivaí) of R$ 1,052.4 million and cash/investments of R$ 107.2 million.

Considering the proportional net debt of jointly-controlled and affiliated companies, the net debt to EBITDA ratio was 3.8x in 1Q22, lower than in 4Q21 (4.2x). Excluding the results of jointly-controlled and affiliated companies, this ratio would be 3.7x in 1Q22 vs. 4.1x recorded in 4Q21.

¹For analysis of the Company’s cash flow, it is more appropriate to use the Regulatory Result that reliably reflects its operations.

Debt Profile

Term of Debt

Capital Structure (BV)