# EDGAR Filing Document

**Accession Number:** 0001157557
**File Stem:** 0001292814-26-001797
**Filing Date:** 2026-3
**Character Count:** 128517
**Document Hash:** 1eea7c93fb49992f5eba6ab96815e7d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001292814-26-001797.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0001292814-26-001797

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260326

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ENERGY CO OF MINAS GERAIS
- **CENTRAL INDEX KEY:** 0001157557
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-15224
- **FILM NUMBER:** 26800348

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** C/O SUPER. RELACOES INVESTIDORES - RI
- **STREET 2:** 1200 AVENIDA BARBACENA
- **CITY:** BELO HORIZONTE
- **NON US STATE TERRITORY:** MINAS GERAIS
- **PROVINCE COUNTRY:** D5
- **ZIP:** 30190-131
- **BUSINESS PHONE:** 55-31-35065024

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** C/O SUPER. RELACOES INVESTIDORES - RI
- **STREET 2:** 1200 AVENIDA BARBACENA
- **CITY:** BELO HORIZONTE
- **NON US STATE TERRITORY:** MINAS GERAIS
- **PROVINCE COUNTRY:** D5
- **ZIP:** 30190-131

United States

Securities and exchange commission<br>washington, d.c. 20549

**FORM 6-K**

report of foreign private issuer<br>pursuant to rule 13a-16 or 15d-16 of<br>the securities exchange act of 1934

For the month of March 2026

Commission File Number 1-15224

Energy Company of Minas Gerais

(Translation of Registrant's Name into English)

Avenida Barbacena, 1200

30190-131 Belo Horizonte, Minas Gerais, Brazil

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ✔ Form 40-F ___

Index

<u>Item</u>Description of Items

[1.](#a_001) [Notice to Shareholders dated December 18, 2025 – Declaration of Interest on Equity](#a_001)

[2.](#a_002) [Notice to Shareholders dated December 17, 2025 – Declaration of Dividends](#a_002)

[3.](#a_003) [Notice to Shareholders dated December 12, 2025 – Second Payout Installment](#a_003)

[4.](#a_004) [Notice to Shareholders dated January 14, 2026 Expected date for the Annual Shareholders' Meeting](#a_004)

[5.](#a_005) [Notice to the Market dated January 14, 2026 – Change in relevant shareholding](#a_005)

[6.](#a_006) [Notice to the Market dated December 2, 2025 – Conclusion of corporate reorganization of 11 Cemig SIM photovoltaic power plants (UFVs)](#a_006)

[7.](#a_007) [Notice to the Market dated January 21, 2026 – Acquisition of 51% of the shares of Hidrelétrica Pipoca S.A.](#a_007)

[8.](#a_008) [Notice to the Market dated January 29, 2026 – Completion of the acquisition of Empresa de Transmissão Timóteo-Mesquita S.A.](#a_008)

[9.](#a_009) [Notice to the Market dated February 20, 2026 – Cemig is once again included in the S&P Global Sustainability Yearbook and the Clean200™, maintains its "A List" classification in the CDP, and is recognized as one of the 10 most sustainable corporations in Latin America by Corporate Knights](#a_009)

[10.](#a_010) [Earnings Release – 4Q2025](#a_010)

**Forward-Looking Statements**

This report contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Actual results could differ materially from those predicted in such forward-looking statements. Factors which may cause actual results to differ materially from those discussed herein include those risk factors set forth in our most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. CEMIG undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

By: <u>/s/ Andrea Marques de Almeida .</u> 

Name: Andrea Marques de Almeida

Title: Vice President of Finance and Investor Relations

Date: March 26, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Notice to Shareholders dated December 18, 2025 – Declaration of Interest on Equity

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**B3 (CMIG3, CMIG4)** 

**NYSE (CIG, CIGC)**

**NOTICE TO SHAREHOLDERS**

**Declaration of Interest on Equity** 

We hereby inform our shareholders that the Executive Board approved the declaration of **Interest on Equity (IoE) of R$677,417,000.00 (six hundred and seventy-seven million, four hundred and seventeen thousand reais).** Detailed information about the payment is as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**IOE** | &nbsp;&nbsp;**IOE** |
| &nbsp;&nbsp;**Gross amount per share** | &nbsp;&nbsp;R$0.23680263228 |
| &nbsp;&nbsp;**Date "with rights"** (**<sup>1</sup>**) | &nbsp;&nbsp;12/23/2025 |
| &nbsp;&nbsp;**Date "ex-rights"** | &nbsp;&nbsp;12/26/2025 |
| &nbsp;&nbsp;**Payment date** | &nbsp;&nbsp; 2 (two) equal installments:<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the first by 06/30/2026 and<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the second by 12/30/2026 |

---

**<sup>(1)</sup>** Common and preferred shareholders of record will be entitled to the payment.

Shareholders whose shares are not held in custody at CBLC and whose registration data is outdated are advised to go to a branch of Banco Itaú Unibanco S.A. (the institution managing CEMIG's Registered Share System) bearing their personal documents for the due update of their registration data.

Belo Horizonte, December 18, 2025.

**Andrea Marques de Almeida**

**Vice President of Finance and Investor Relations**

![](cig202603266k_001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Notice to Shareholders dated December 17, 2025 – Declaration of Dividends

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**B3 (CMIG3, CMIG4)** 

**NYSE (CIG, CIGC)**

**NOTICE TO SHAREHOLDERS**

**Declaration of Dividends** 

We hereby inform our shareholders that the Board of Directors approved today the declaration of **Dividends** in the gross amount of **R$417,301,487.95 (four hundred and seventeen million, three hundred and one thousand, four hundred and eighty-seven reais, and ninety-five centavos)** by using the realizable Profit Reserve account, arising from mandatory dividends not distributed, as detailed below:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Dividends** | &nbsp;&nbsp;**Dividends** |
| &nbsp;&nbsp;**Gross amount per share** | &nbsp;&nbsp;R$0.14587483160 |
| &nbsp;&nbsp;**Date "with rights"** (**<sup>1</sup>**) | &nbsp;&nbsp;12/22/2025 |
| &nbsp;&nbsp;**Date "ex-rights"** | &nbsp;&nbsp;12/23/2025 |
| &nbsp;&nbsp;**Payment date** | &nbsp;&nbsp;12/30/2025 |

---

**<sup>(1)</sup>** Common and preferred shareholders of record will be entitled to the payment

Shareholders whose shares are not held in custody at CBLC and whose registration data is outdated are advised to go to a branch of Banco Itaú Unibanco S.A. (the institution managing CEMIG's Registered Share System) bearing their personal documents for the due update of their registration data.

Belo Horizonte, December 17, 2025.

**Andrea Marques de Almeida**

**Vice President of Finance and Investor Relations**

![](cig202603266k_002.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Notice to Shareholders dated December 12, 2025 – Second Payout Installment

![](cig202603266k_003.jpg)

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**NOTICE TO SHAREHOLDERS**

**Second Payout Installment**

We hereby inform our shareholders that CEMIG will pay the second payout installment related to **fiscal year 2024** on **December 30, 2025**, as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Payout** | **Approval Date** | **Date "with rights"** | **Date "ex-rights"** | **Per common/preferred share (R$)** | **Total** <br> **Amount<br> (R$ thousand)** |
| **Payout** | **Approval Date** | **Date "with rights"** | **Date "ex-rights"** | **Per common/preferred share (R$)** | **Total** <br> **Amount<br> (R$ thousand)** |
| **Payout** | **Approval Date** | **Date "with rights"** | **Date "ex-rights"** | **Per common/preferred share (R$)** | **Total** <br> **Amount<br> (R$ thousand)** |
| Interest on Equity | 03/21/2024 | 03/26/2024 | 03/27/2024 | 0.087782934 | 193169 |
| Interest on Equity | 06/18/2024 | 06/21/2024 | 06/24/2024 | 0.075106044 | 214855 |
| Interest on Equity | 09/17/2024 | 09/23/2024 | 09/24/2024 | 0.082601110 | 236296 |
| Interest on Equity | 12/17/2024 | 12/23/2024 | 12/26/2024 | 0.097903756 | 280072 |
| Dividends | 04/30/2025 | 04/30/2025 | 05/02/2025 | 0.329405903 | 942326 |
| **TOTAL** | **TOTAL** | **TOTAL** | **TOTAL** | **0.672799748** | **1866716** |

---

Regarding the payment of Interest on Equity (IoE), a 15% income tax will be withheld, except for shareholders exempt from said withholding, as provided for in the legislation in force.

Shareholders whose bank details are updated with Banco Itaú Unibanco S.A., the custodian institution of CEMIG's registered shares, will have their credits automatically made on the payment day.

If the shareholder does not receive the aforementioned credit, they should go to a branch of Banco Itaú Unibanco S.A. to update their registration data.

The payout related to the shares held in custody with Companhia Brasileira de Liquidação e Custódia (CBLC) will be directly credited to such entity, and the Depository Brokers will be responsible for transferring them to the respective shareholders.

Belo Horizonte, December 12, 2025.

**Andrea Marques de Almeida**

**Vice President of Finance and Investor Relations**

![](cig202603266k_004.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Notice to Shareholders dated January 14, 2026 Expected date for the Annual Shareholders' Meeting

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**NOTICE TO SHAREHOLDERS**

**Expected date for the Annual Shareholders' Meeting**

**COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG** ("**CEMIG**"), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, in accordance with the provisions of Paragraph 2 of Article 37 of CVM Resolution 81/22, as amended, hereby informs its shareholders and the market in general that the Company's Annual Shareholders' Meeting is scheduled to be held on April 30, 2026.

The guidelines regarding shareholders' participation, as well as the call notice and the Management's Proposal, will be made available in due course.

Belo Horizonte, January 14, 2026.

**Luis Cláudio Correa Villani**

**Acting Vice President of Finance and Investor Relations**

![](cig202603266k_006.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Notice to the Market dated January 14, 2026 – Change in relevant shareholding

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**NOTICE TO THE MARKET**

**Change in relevant shareholding**

**COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG** ("**CEMIG**"), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, in compliance with the provisions of Article 12 of CVM Resolution 44/2021, dated August 23, 2021, as amended, hereby informs its shareholders and the market in general that it has received correspondence from Banco de Investimentos UBS (Brasil) S.A., a financial institution enrolled under Corporate Taxpayer's ID (CNPJ/MF) number 33.987.793/0001-33, acting as the leading institution of the prudential conglomerate of the Grupo UBS in Brazil ("**Investors**"), informing a reduction in its relevant interest in derivative instruments.

According to the information provided, the new position corresponds to derivatives with financial settlement equivalent to 182,867,928 preferred shares issued by the Company, representing 9.60% of CEMIG's preferred shares, as detailed in the attached correspondence.

The Investors further state that the transactions carried out do not aim to change the Company's control or management structure, and that they are not party to any agreements or contracts that regulate voting rights or the purchase and acquisition of securities issued by the Company.

Belo Horizonte, January 14, 2026.

**Luis Cláudio Correa Villani**

**Acting Vice President of Finance and Investor Relations**

![](cig202603266k_008.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Notice to the Market dated December 2, 2025 – Conclusion of corporate reorganization of 11 Cemig SIM photovoltaic
power plants (UFVs)

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**NOTICE TO THE MARKET**

**Conclusion of corporate reorganization of 11 Cemig SIM photovoltaic power plants (UFVs)**

**COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG ("CEMIG")**, a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, hereby informs its shareholders and the market in general that its wholly-owned subsidiary **CEMIG SOLUÇÕES INTELIGENTES EM ENERGIA S.A. ("Cemig SIM")**, has, on this date, concluded a corporate reorganization with a wholly-owned subsidiary of **COMERC ENERGIA S.A.** ("**COMERC**"), with which it jointly held a 49% equity interest in 11 distributed generation photovoltaic power plants ("**UFVs**"), with total installed capacity of 53.7 MWp.

Upon completion of the transaction, CEMIG SIM now holds a 100% equity interest in 6 UFVs, totaling 27.0 MWp of installed capacity, while COMERC will indirectly hold a 100% equity interest in 5 UFVs, totaling 26.7 MWp.

This corporate reorganization is aligned with CEMIG's Strategic Plan, which provides for the optimization of its asset portfolio with wholly-owned interests and the enhancement of operational efficiency through the capture of commercial, administrative, and operational synergies.

CEMIG reaffirms its commitment to keep its shareholders, the market in general, and other stakeholders duly and timely informed, in accordance with CVM regulations and applicable legislation.

Belo Horizonte, December 02, 2025.

**Andrea Marques de Almeida**

**Vice President of Finance and Investor Relations**

![](cig202603266k_010.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Notice to the Market dated January 21, 2026 – Acquisition of 51% of the shares of Hidrelétrica Pipoca S.A.

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**B3 (CMIG3, CMIG4)** 

**NYSE (CIG, CIGC)**

**CEMIG GERAÇÃO E TRANSMISSÃO S.A.**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 06.981.176/0001-58**

**COMPANY REGISTRY (NIRE): 31300020550**

**NOTICE TO THE MARKET**

**Acquisition of 51% of the shares of Hidrelétrica Pipoca S.A.** 

**COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG ("CEMIG" or "Company"),** a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, and **CEMIG GERAÇÃO E TRANSMISSÃO S.A. ("CEMIG GT")**, a publicly-held company and the wholly-owned subsidiary of CEMIG, hereby inform their shareholders and the market in general that, on August 14, 2025, the Company exercise its Preemptive Rights to acquire 51% of the shares of Hidrelétrica Pipoca S.A. ("PCH Pipoca") held by Serena Geração S.A. ("Serena Geração"), a wholly-owned subsidiary of Serena Energia S.A. ("Serena Energia").

The aforementioned Preemptive Right, as regulated under the Shareholders' Agreement, arises from the transfer of indirect control of PCH Pipoca, completed on November 04, 2025. The effectiveness of the transaction is subject to the fulfillment of customary conditions precedent applicable to transactions of this nature, including approvals from CADE (the Brazilian antitrust authority) and ANEEL, all of which are currently in progress.

CEMIG GT currently holds 49% of the shares of PCH Pipoca, which is located in the eastern region of the State of Minas Gerais. The acquisition of the remaining 51% will result in full ownership of the asset, which has 20 MW of installed capacity and 11.9 average MW of firm energy.

The transaction value totals R$36.33 million and will be adjusted by 100% of the CDI from May 15, 2025 until the date of the auction of the Public Tender Offer ("Tender Offer") of Serena Energia.

CEMIG and CEMIG GT reiterate their commitment to keeping shareholders and the market duly informed about this matter, in accordance with CVM regulations and applicable legislation.

Belo Horizonte - January 21, 2026.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

![](cig202603266k_010.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Notice to the Market dated January 29, 2026 – Completion of the acquisition of Empresa de Transmissão Timóteo-Mesquita
S.A.

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**B3 (CMIG3, CMIG4)** 

**NYSE (CIG, CIGC)**

**CEMIG GERAÇÃO E TRANSMISSÃO S.A.**

**PUBLICLY-HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 06.981.176/0001-58**

**COMPANY REGISTRY (NIRE): 31300020550**

**Notice to the Market - Completion of the acquisition of Empresa de Transmissão Timóteo-Mesquita S.A. – ("ETTM")**

**COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG** ("CEMIG or Company"), a publicly-held company, with shares traded on the stock exchanges of São Paulo and New York, hereby informs its shareholders and the market in general, further to the Notice to the Market disclosed by the Company on February 26, 2025, that **CEMIG GERAÇÃO E TRANSMISSÃO S.A. - ("CEMIG GT"),** a wholly-owned subsidiary of CEMIG, concluded, on January 29, 2026, the acquisition of all of the share capital of Empresa de Transmissão Timóteo-Mesquita S.A. – ("ETTM"), formerly owned by Grupo Fram Capital.

The agreed purchase price was R$30.0 million, and the Annual Permitted Revenue ("RAP") of the assets amounts to R$6 million. ETTM's transmission assets are connected to the 230 kV Basic Network owned by CEMIG and comprise the Mesquita-Timóteo 2 Transmission Line (24km) and the Timóteo 2 Substation, which sections the Ipatinga 1-Timóteo 1 Transmission Line, all located in the Vale do Aço region, in the State of Minas Gerais.

The acquisition is in line with the Company's Strategic Planning, which provides for investments in transmission assets in the State of Minas Gerais.

CEMIG reaffirms its commitment to keep shareholders, the market in general, and other stakeholders duly and timely informed, in accordance with CVM regulations and applicable legislation.

Belo Horizonte, January 29, 2026.

**Andrea Marques de Almeida**

**Vice President of Finance and Investor Relations**

![](cig202603266k_010.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Notice to the Market dated February 20, 2026 – Cemig is once again included in the S&P Global Sustainability
Yearbook and the Clean200™, maintains its "A List" classification in the CDP, and is recognized as one of the 10 most
sustainable corporations in Latin America by Corporate Knights

**COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG**

**PUBLICLY HELD COMPANY**

**CORPORATE TAXPAYER'S ID (CNPJ): 17.155.730/0001-64**

**COMPANY REGISTRY (NIRE): 31300040127**

**NOTICE TO THE MARKET**

**Cemig is once again included in the S&P Global Sustainability Yearbook and the Clean200™, maintains its "A List" classification in the CDP, and is recognized as one of the 10 most sustainable corporations in Latin America by Corporate Knights**

**COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG ("CEMIG or Company")**, a publicly held company with shares traded on the stock exchanges of São Paulo and New York, in line with its commitment to adopting best practices in climate action and sustainability, hereby announces that it has received the following recognitions:

- **CDP Climate 2025 - A List**

CEMIG remains on the CDP - Carbon Disclosure Project "A List", reaffirming its commitment to disclosure, transparency, and environmental action.

CEMIG achieved the highest score in 10 out of 16 criteria, standing out for its action plan with concrete initiatives to meet its public commitment to become net zero by 2040.

The Company was also recognized for the development of new low-carbon products through its wholly owned subsidiary, Cemig Sim, in renewable energy, with projects focused on GHG emissions mitigation, as well as for investments in distribution grid modernization aimed at improving customer service, enhancing service quality, and reducing electricity losses.

CDP is a renowned international organization responsible for environmental disclosure on a global scale.

Further details on CEMIG's climate management practices are available in its sustainability reports at www.cemig.com.br and on the website of CDP https://classic.cdp.net/en.

**- Standard & Poor's Global Sustainability Award**

CEMIG was included in The Sustainability Yearbook 2026, which highlights 848 sustainability leaders across 59 sectors worldwide. The position of each company in the ranking is based on performance in the S&P Global ESG Scores, calculated through the Corporate Sustainability Assessment (CSA). Within the global electric utilities sector, CEMIG ranked among the top 10%.

The Company's continued presence in the Yearbook reinforces CEMIG's ongoing commitment to ESG best practices, which are essential for sustainable growth and long-term value creation for its shareholders, employees, suppliers, and society.

![](cig202603266k_014.jpg)

**- One of the 10 most sustainable corporations in Latin America by Corporate Knights**

CEMIG was selected by Corporate Knights as one of the "10 Most Sustainable Corporations in Latin America", featured in the inaugural ranking released by the Canadian Organization in 2026. The list, which highlights companies with the strongest environmental, social, and governance performance, assessed 343 Latin American companies using the same methodology applied in the prestigious Global 100 ranking.

Only the 10 companies with the highest consolidated scores were included in the final selection. The result underscores CEMIG's consistent progress in initiatives related to energy transition, environmental impact reduction, innovation, governance, and social responsibility.

**- Clean200™ 2026 Global Ranking**

CEMIG achieved 63<sup>rd</sup> place in the Clean200™ 2026 ranking, prepared by the U.S.-based organization As You Sow, in partnership with Corporate Knights.

The Clean200™ lists the 200 publicly held companies generating the highest revenues from products and services aligned with the clean economy, among more than 8,000 companies analyzed worldwide. The study considers indicators related to renewable energy, energy efficiency, sustainable technologies, environmental impact, and social criteria.

CEMIG's performance in the ranking highlights the relevance of its predominantly renewable matrix, its continuous investments in clean innovation, and its commitment to responsible practices aligned with the energy transition, as well as the steady advancement of ESG as a strategic pillar of the Company.

Belo Horizonte, February 20, 2026.

**Andrea Marques de Almeida**

**Vice President of Finance and Investor Relations**

![](cig202603266k_014.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Earnings Release – 4Q2025

![](cig202603266k_015.jpg)

![](cig202603266k_016.jpg)

![](cig202603266k_017.jpg)

![](cig202603266k_018.jpg)

---

| | |
|:---|:---|
| **CONTENTS** |  |
| **4Q25: Ebitda and NET profit by company** | **5** |
| **P&L** | **6** |
| **Results by business segment** | **7** |
| **CEMIG'S CONSOLIDATED ELECTRICITY MARKET** | **8** |
| **Cemig D** | **9** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Billed electricity market** | **9** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Energy distributed, by segment (%)** | **10** |
| &nbsp;&nbsp;&nbsp;&nbsp;**By sector** | **10** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Sources and uses of electricity – MWh** | **11** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Client base** | **11** |
| &nbsp;&nbsp;&nbsp;&nbsp;**The 2025 Annual Tariff Adjustment** | **11** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Five-year Tariff Reviews compared** | **12** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Opex and Ebitda: realized vs. Regulatory** | **12** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Indicators of supply quality – DEC and FEC** | **13** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Combating default** | **13** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Losses** | **13** |
| **Cemig GT and Cemig Holding Company** | **15** |
| &nbsp;&nbsp;&nbsp;&nbsp;**The electricity market** | **15** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Sources and uses of electricity** | **15** |
| **Gasmig** | **16** |
| **Consolidated results** | **17** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net profit** | **17** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Operational revenue** | **18** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Operational costs and expenses** | **21** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Finance income and expenses** | **25** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Gain (loss) in non-consolidated investees (Equity income)** | **25** |
| **CONSOLIDATED EBITDA – 2025 and 4Q25 (IFRS, and Adjusted)** | **26** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Ebitda of Cemig D** | **28** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Ebitda of Cemig GT** | **29** |
| **Investments** | **30** |
| **Evolution of Cemig's Credit Ratings** | **33** |
| **ESG – Report on performance** | **34** |
| **Performance of Cemig's shares** | **38** |
| **Cemig's generation plants** | **39** |
| **RAP: July 2025 – June 2026 cycle** | **40** |
| **Transmission: Regulatory Revenue and Ebitda** | **41** |
| **Complementary information** | **41** |
| **Disclaimer** | **42** |

---

**4Q25: Ebitda and NET profit by company**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** | **4Q25** | **4Q24** | **Change %** |
| **(R$ million)** | **Ebitda (IFRS)** | **Ebitda (IFRS)** | **Ebitda (IFRS)** | **Adjusted Ebitda** | **Adjusted Ebitda** | **Adjusted Ebitda** |
| Cemig D | 1700 | 958 | 77.5% | 974 | 958 | 1.7% |
| Cemig GT | 803 | 528 | 52.1% | 478 | 551 | -13.2% |
| Gasmig | 184 | 179 | 2.8% | 184 | 179 | 2.8% |
| Others | 260 | 249 | 4.4% | 175 | 249 | -29.7% |
| **Consolidated** | **2947** | **1914** | **54.0%** | **1811** | **1937** | **-6.5%** |
| New replacement value (VNR) | 16 | 35 | -54.3% | 16 | 35 | -54.3% |
| Gain (loss) in non-consolidated investees | 41 | 33 | 24.2% | 41 | 33 | 24.2% |
|  Regulatory difference, T\*<br> (Transmission IFRS/Regulatory) | 104 | 56 | 85.7% | 104 | 56 | 85,7% |
|  **Consolidated, less (VNR and** <br> **equity income), plus (T)** | **2994** | **1902** | **57.4%** | **1858** | **1925** | **-3.5%** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** | **4Q25** | **4Q24** | **Change %** |
| **(R$ million)** | **Profit (IFRS)** | **Profit (IFRS)** | **Profit (IFRS)** | **Adjusted profit** | **Adjusted profit** | **Adjusted profit** |
| Cemig D | 977 | 452 | 116.2% | 394 | 452 | -12.8% |
| Cemig GT | 547 | 241 | 127.0% | 333 | 409 | -18.6% |
| Gasmig | 139 | 112 | 24.1% | 139 | 112 | 24.1% |
| Others | 213 | 193 | 10.4% | 157 | 193 | -18.7% |
| **Consolidated** | **1876** | **998** | **88.0%** | **1023** | **1166** | **-12.3%** |

---

 

\* For details of the regulatory result in Transmission, see the topic *Transmission Regulatory Revenue and Ebitda.*

![](cig202603266k_019.jpg)

**P&L**

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change, %** |
| **PROFIT AND LOSS ACCOUNTS (R$ '000)** | | | |
| **NET REVENUE** | **11501016** | **11176877** | **2.9%** |
| **COSTS** |  |  |  |
| Cost of electricity and gas | -6178821 | -6178273 | 0.0% |
| Infrastructure construction costs | -1835609 | -1518396 | 20.9% |
| Costs of operation | -1840694 | -1443503 | 27.5% |
| **Total costs** | **-9855124** | **-9140172** | **7.8%** |
| **GROSS PROFIT** | **1645892** | **2036705** | **-19.2%** |
| **EXPENSES / OTHER REVENUES** |  |  |  |
| Client default provision | -47391 | -72204 | -34.4% |
| General and administrative expenses | -259964 | -213548 | 21.7% |
| Other expenses | 970038 | -233528 | -515.4% |
| Other revenues | 174008 | 1 | - |
| **Total expenses** | **836691** | **-519279** | **-261.1%** |
| Share of gain (loss) in non-consolidated investees | 40687 | 32845 | 23.9% |
| **Profit before Finance income (expenses) and taxes on profit** | **2523270** | **1550271** | **62.8%** |
| Finance income | 250258 | 283578 | -11.7% |
| Finance expenses | -540689 | -679958 | -20.5% |
| **Net finance income (expense)** | **-290431** | **-396380** | **-26.7%** |
| **Profit before income tax and Social Contribution tax** | **2232839** | **1153891** | **93.5%** |
| Income tax and Social Contribution tax | 86782 | -308974 | -128.1% |
| Deferred income tax and Social Contribution tax | -443767 | 152696 | -390.6% |
| **Total income tax and Social Contribution tax including deferred** | **-356985** | **-156278** | **128.4%** |
| **NET PROFIT FOR THE PERIOD** | **1875854** | **997613** | **88.0%** |

---

**Results by business segment**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** | **INFORMATION BY SEGMENT, 4Q25** |
| **Item** | **Electricity** | **Electricity** | **Electricity** | **Electricity** | **Gas** | &nbsp;&nbsp;**Equity interests / Holding co.** | **Total** | &nbsp;&nbsp;**Eliminations** | **Consolidated** |
| **Item** | &nbsp;&nbsp;**Generation** | &nbsp;&nbsp;**Transmission** | &nbsp;&nbsp;**Trading** | &nbsp;&nbsp;**Distribution** | **Gas** | &nbsp;&nbsp;**Equity interests / Holding co.** | **Total** | &nbsp;&nbsp;**Eliminations** | **Consolidated** |
| **NET REVENUE** | **771298** | **393476** | **2329850** | **7983155** | **518151** | **46796** | **12042726** | **-541710** | **11501016** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inter-segment | 356783 | 147761 | &nbsp;&nbsp;0 | 37166 | 0 | 0 | 541710 | -541710 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;External | 414515 | 245715 | &nbsp;&nbsp;2329850 | 7945989 | 518151 | 46796 | 11501016 | 0 | 11501016 |
| **COST OF ELECTRICITY AND GAS** | **-190459** | **-87** | &nbsp;&nbsp;**-2208143** | **-4083405** | **-227205** | **-765** | **-6710064** | **531243** | **-6178821** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inter-segment | -35243 | -39 | &nbsp;&nbsp;-331260 | -163412 | 0 | -1289 | -531243 | 531243 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;External | -155216 | -48 | &nbsp;&nbsp;-1876883 | -3919993 | -227205 | 524 | -6178821 | 0 | -6178821 |
| **COSTS, EXPENSES, OTHER REVENUES** | **-187855** | **-182924** | **-11769** | **-2490161** | **-133666** | **156296** | **-2850079** | **10467** | **-2839612** |
| People | -36412 | -40965 | -8964 | -270101 | -17749 | -7344 | -381535 | 0 | -381535 |
| Employees' and managers' profit shares | -7122 | -6145 | 1125 | -58575 | -4427 | -3033 | -78177 | 0 | -78177 |
| Post-employment liabilities | 107692 | 66552 | 15251 | 780469 | 0 | 97452 | 1067416 | 0 | 1067416 |
| Materials, Outsourced services and Other expenses, net | -117652 | -30172 | -15023 | -789218 | -29841 | -25990 | -1007896 | 10467 | -997429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inter-segment | -8640 | -668 | 0 | -1080 | -53 | -26 | -10467 | 10467 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;External | -109012 | -29504 | -15023 | -788138 | -29788 | -25964 | -997429 | 0 | -997429 |
| Depreciation and amortization | -92232 | -3977 | -3 | -290458 | -26029 | -10545 | -423244 | 0 | -423244 |
| Operational provisions / adjustments for losses | -42129 | -9890 | -4155 | -281820 | 908 | -27956 | -365042 | 0 | -365042 |
| Infrastructure construction costs | 0 | -158327 | 0 | -1620754 | -56528 | 0 | -1835609 | 0 | -1835609 |
| Other revenues | 0 | 0 | 0 | 40296 | 0 | 133712 | 174008 | 0 | 174008 |
| **COSTS, EXPENSES AND OTHER REVENUES** | **-378314** | **-183011** | &nbsp;&nbsp;**-2219912** | **-6573566** | **-360871** | **155531** | **-9560143** | **541710** | **-9018433** |
| Share of gain (loss) in non-consolidated investees | 0 | 0 | 0 | 0 | 0 | 40687 | 40687 | 0 | 40687 |
| **PROFIT BEFORE FINANCE INCOME (EXPENSES) AND TAXES ON PROFIT** | **392984** | **210465** | **109938** | **1409589** | **157280** | **243014** | **2523270** | **0** | **2523270** |
| Net finance income (expenses) | -5713 | -9235 | 4532 | -218302 | -19646 | -42067 | -290431 | 0 | -290431 |
| **PROFIT (LOSS) BEFORE TAXES ON PROFIT** | **387271** | **201230** | **114470** | **1191287** | **137634** | **200947** | **2232839** | **0** | **2232839** |
| Income tax and Social Contribution tax | -67572 | -20572 | -10118 | -213926 | 349 | -45146 | -356985 | 0 | -356985 |
| **NET PROFIT FOR THE YEAR** | **319699** | **180658** | **104352** | **977361** | **137983** | **155801** | **1875854** | **0** | **1875854** |

---

**CEMIG'S CONSOLIDATED ELECTRICITY MARKET**

**In December 2025 Cemig Group invoiced approximately 9.60 million clients** – an addition of 192,000 clients, equivalent to 2.0% increase in its consumer base from December 2024.

Of this total number of consumers, 9,598,709 are final consumers, and/or represent Cemig's own consumption; and 715 are other agents in the Brazilian electricity sector.

Cemig Group sales to final consumers by user type:

![](cig202603266k_020.jpg)

![](cig202603266k_021.jpg)

**ENERGY SALES, BY COMPANY**

**Cemig D**

**Billed electricity market**

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | | |
| **Captive clients + Transmission for clients (MWh)** | **Captive clients + Transmission for clients (MWh)** | | |
| **Residential** | **3291587** | **4Q24**<br>**3269139** | **Change %**<br>**0.7%** |
| **Industrial** | **5331927** | **5777187** | **–7.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Captive market | 154034 | 230020 | –33.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transport | 5177893 | 5547167 | –6.7% |
| **Commercial, services and Others** | **1604852** | **1634659** | **–1.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Captive market | 842576 | 967083 | –12.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transport | 762276 | 667576 | 14.2% |
| **Rural** | **767080** | **705045** | **8.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Captive market | 726882 | 678416 | 7.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transport | 40198 | 26629 | 51.0% |
| **Public services** | **796414** | **835511** | **–4.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Captive market | 539949 | 659449 | –18.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transport | 256465 | 176062 | 45.7% |
| **Concession holders** | **82383** | **87742** | **–6.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transport | 82383 | 87742 | –6.1% |
| **Own consumption** | **7396** | **7678** | **–3.7%** |
| **Total without distributed generation (GD)** | **11881638** | **12316961** | **–3.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total, captive market** | **5562423** | **5811785** | **–4.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total, energy transported for Free Clients** | **6319215** | **6505176** | **–2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GD1 offset | **1465028** | **1343549** | 9.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GD2 offset | **240954** | **122598** | 96.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GD3 offset | **1613** | **594** | 171.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total, Cemig GD** | **1707596** | **1466741** | **16.4%** |
| **Total with GD offset** | **13589234** | **13783702** | **–1.4%** |

---

For supply to captive clients plus transport of energy for Free Clients and distributors (excluding offset distributed generation), in 4Q25 Cemig billed a total of 11,882 GWh, a decline of 3.5% from 4Q24. This mainly reflected lower consumption by *industrial* clients (down 445.3 GWh, or 7.7%, YoY), *public services* (down 39.1 GWh, or 4.7%) and *commercial* clients (down 29.8 GWh, 1.8%), which was mainly explained by the migration of clients to distributed generation, and to the Free Market. On the other hand, consumption by *residential* consumers was up 22.5 GWh (0.7%) YoY, reflecting higher number of clients; and consumption by *rural* consumers was up 62.0 GWh (8.8%), reflecting lower rainfall in 4Q25, causing greater need for irrigation.

The 3.5% year-on-year reduction in total energy distributed – excluding DG – comprised: a decline of 4.3% (249.4 GWh) in consumption by the captive market, and a reduction of 2.9% (186.0 GWh) in use of the network by Free Clients.

Including offset distributed generation, the total energy distributed was 1.4% lower than in 4Q24.

**Energy distributed, by segment (%)**<br>

![](cig202603266k_022.jpg)

**By sector**

**Industrial** **:** Energy distributed to industrial clients, representing 44.9%\* of Cemig D's total distribution, was 7.7%\* below 4Q24. The majority was energy transported for industrial Free Clients (43.6%), which was 6.7% lower in volume than in 4Q24. Within this total, energy billed to captive industrial clients was 1.3% of the total distributed, and 33.0% below the volume in 4Q24 – mainly due to migration of clients to the Free Market.

There was a strong impact on this reduction in industrial consumption from migration of two major clients to the Free Market. Excluding this effect the year-on-year reduction in total energy distributed would have been 2.7%. Sectors with lower consumption in 4Q25 were led by: steel, down 36.2%YoY, chemicals (down 33.6%), and ferro alloys (down 13.6%). Consumption was higher, YoY, in extractive industries (up +9.4%), cement production (up +4.6%) and foods and beverages (up +3.0%).

**Residential** consumption, which was 27.7%\* of the energy distributed by Cemig D, was 0.7% higher than in 4Q24, mainly due to the year-on-year growth of 3.1% in the number of residential clients (addition of 246,600 clients), while average consumption per client was lower.

**Commercial and services** **:** Energy distributed to these consumers, 13.5%\* of the total distributed by Cemig D in the quarter, was 1.8% lower by volume than in 4Q24. The variation comprises: supply billed to captive clients 12.9% lower, and volume transported for Free Clients 14.2% higher – reflecting migration of clients to the Free Market. The lower figure for total consumption mainly reflects migration of clients to Distributed Generation.

**Rural:** Consumption by rural clients, 6.5%\* of total energy distributed, was 8.8% higher in total than in 4Q24, mainly due to the lower rainfall in 4Q25, causing increased need for irrigation.

**Public services:** consumed 6.7%\* of the energy distributed in 4Q25, 4.7% less by volume than in 4Q24.

\* Excludes DG offset supply.

**Sources and uses of electricity – MWh**

---

| | | | |
|:---|:---|:---|:---|
| <br>**Metered market – MWh**<br>**Transported for distributors** | **4Q25**<br>**82383** | **4Q24**<br>**87742** | **Change %**<br>**–6.1%** |
| **Transported for Free Clients** | **6309528** | **6457709** | **–2.3%** |
| **Own load + Distributed generation** | **8868018** | **8773661** | **1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumption by captive market | 5671458 | 5924306 | –4.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributed Generation market | 1754170 | 1466740 | 19.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Losses in distribution network | 1442391 | 1382615 | 4.3% |
| **Total volume carried** | **15259929** | **15319112** | **–0.4%** |

---

**Client base**

In December 2025 Cemig D billed 9.6 million consumers, a 2.0% increase in the total number of consumers since December 2024. Of this total, 6,135 were Free Clients using the distribution network of Cemig D.

---

| | | | |
|:---|:---|:---|:---|
|  | **Dec. 2025** | **Dec. 2024** | **Change %** |
| **NUMBER OF CAPTIVE CLIENTS** |  |  |  |
| Residential | 8206751 | 7960300 | 3.1% |
| Industrial | 22847 | 23807 | –4.0% |
| Commercial, services and Others | 884430 | 916307 | –3.5% |
| Rural | 379481 | 405953 | –6.5% |
| Public authorities | 75326 | 72681 | 3.6% |
| Public lighting | 8001 | 7209 | 11.0% |
| Public services | 13271 | 13688 | -3.0% |
| Own consumption | 863 | 789 | 9.4% |
|  **Total, captive clients** | **9590970** | **9400734** | **2.0%** |
| **NUMBER OF FREE CLIENTS** |  |  |  |
| Industrial | 2452 | 1865 | 31.5% |
| Commercial | 3214 | 2377 | 35.2% |
| Rural | 159 | 84 | 89.3% |
| Public authorities | 61 | 12 | 408.3% |
| Public services | 241 | 68 | 254.4% |
| Concession holders | 8 | 8 | 0.0% |
|  **Total, Free Clients** | **6135** | **4414** | **39.0%** |
| **Total, Captive market + Free Clients** | **9597105** | **9405148** | **2.0%** |

---

**The 2025 Annual Tariff Adjustment**

**Cemig D** tariffs are adjusted each year, in May; and are subject to a Periodic Tariff Review every five year, also in May. The purpose of the Annual Adjustment is: (i) to pass on to the client, in full, changes in the costs defined as "non-manageable"; and (ii) to provide inflation adjustment for the costs which are specified in the Tariff Review as "manageable". Manageable costs are adjusted by the IPCA inflation index, less a factor known as the 'X Factor', designed to capture productivity, under a system using the price-cap regulatory model.

In May 20, 2025, Aneel ratified Cemig D's last annual Tariff Adjustment effective from May 28, 2025 to May 27, 2026. It resulted in an average increase for consumers of 7.78%. The average effect for low-voltage consumers as a whole was an increase of 7.03%, and for residential consumers an increase of 6.86%. The component percentage of the increase corresponding to manageable costs (referred to as 'Portion B') was 1.36%. The increase relating to non-manageable costs ('Portion A') – comprising purchase of energy, transmission, sector charges and non-recoverable revenues) – was 6.12%. The increase in the financial

components of the tariff contributed 0.30 percentage points. The item with the greatest impact on the tariff increase was sector charges, which contributed an effect of 4.63%, reflecting an increase in the CDE (the 'Energy Development Account').

---

| | |
|:---|:---|
| **Average effects of the Tariff Adjustment** | **Average effects of the Tariff Adjustment** |
| High voltage – average | &nbsp;&nbsp;&nbsp;&nbsp;9.45% |
| Low voltage – average | &nbsp;&nbsp;&nbsp;&nbsp;7.03% |
| **Average effect** | &nbsp;&nbsp;&nbsp;&nbsp;**7.78%** |

---

More details at this link: https://www2.aneel.gov.br/aplicacoes/tarifa/arquivo/SEI_0111327_Nota_Tecnica_116_Cemig.pdf

**Five-year Tariff Reviews compared**

Comparison of the Tariff Reviews made in 2023 and in the previous cycle (2018):

---

| | | |
|:---|:---|:---|
| **Five-year Tariff Reviews** | **2018** | **2023** |
| **Gross Remuneration Base – R$ million** | **20490** | **25587** |
| **Net Remuneration Base – R$ million** | **8906** | **15200** |
| **Average depreciation rate:** | **3.84%** | **3.95%** |
| **WACC (after taxes)** | **8.09%** | **7.43%** |
| **Remuneration of 'Special Obligations' – R$ mn** | **149** | **272** |
| **CAIMI\* R$ mn** | **333** | **484** |
| **QRR\*\* – Depreciation R$ mn** | **787** | **1007** |

---

*\** CAIMI: (*Cobertura Anual de Instalações Móveis e Imóveis*) – Annual support for facilities.

*\* QRR: 'Regulatory Reintegration Quota': Gross base x annual depreciation rate.*

More details at this link:

https://www2.aneel.gov.br/aplicacoes/tarifa/arquivo/NT%2012%202023%20RTP%20Cemig.pdf

**Opex and Ebitda: realized vs. Regulatory**

Cemig's Opex and Ebitda both outperformed regulatory levels in 2025.

![](cig202603266k_023.jpg)

Regulatory Ebitda is calculated by reference to: (i) remuneration of capital; (ii) the QRR quota (Gross base x annual depreciation rate); and (iii) a percentage of the Annual Cost of Facilities and Real Estate, published in Aneel Technical Notes at the times of Tariff Reviews and Tariff Adjustments.

**Indicators of supply quality – DEC and FEC**

Cemig's DEC (*Duração Equivalente de Interrupções por Consumidor –* average consumer outage time), measured over a 12-month moving window, was 8.97 hours in 2025, lower than the specified regulatory threshold of 9.48 hours. In the 12 months ending September 2025, DEC was 9.34 hours.

Cemig's FEC (Average Outage Frequency indicator), at 5.14 per year for the 12 months to end-December, remained within the regulatory limit of 5.83 per year. At end of September 2025, FEC was 5.25.

![](cig202603266k_024.jpg)

**Combating default**

Cemig has maintained a high level of collection actions, helping to keep its *Receivables Collection Index* high – it was 99.51% in December 2025.

Collection via digital channels (PIX, automatic debit, card, app, etc) was 70.51% of the total collected – up from 67.02% in 2024. Brazil's PIX instant payment system was the method most used by customers – representing 37% of the total of all collection – providing savings of R$39.0 million in collection expenses since it was established in 2021.

![](cig202603266k_025.jpg)

**Losses**

Energy losses in the 12 months ending December 2025 totaled 11.42%, below the regulatory target level of 11.46%. Aneel Technical Note 53/2025 specified an updated method for calculation of non-technical losses, in effect from May 28, 2025 (date of the most recent tariff adjustment). The method now includes the metered total of Distributed Generation supply, as well as directly billed supply, thus widening the scope of calculation of energy losses.

Highlights of our combat of energy losses in 2025 include: approximately 370,000 inspections; replacement of more than 386,000 obsolete meters; replacement of 220,000 conventional meters by smart meters (bringing the total of smart meters installed since the project began in September 2021 to 619,000); and regularization of 4,900 clandestine connections made by families living in 'invaded' and low-income areas, through our

 

*Energia Legal* program, which uses 'bulletproofed' networks (bringing the total of connections regularized since the start of the project, in February 2023, to 27,700).

Planned for 2026 are: 358,000 inspections; installation of 400,000 smart meters; and regularization of 25,000 families in low-income communities (using *BT Zero* and '*Bulletproofed Meter Panel*' technologies). Other structuring initiatives include expanding the use of capacitor banks to strengthen the control of technical losses.

**Energy losses: regulatory limit vs realized**<br>

![](cig202603266k_026.jpg)

**Actual energy losses: total, technical and non-technical**<br>

![](cig202603266k_027.jpg)

**Regulatory limits**<br>

![](cig202603266k_028.jpg)

**Cemig GT and Cemig Holding Company**

**The electricity market**

In 4Q25 **Cemig GT** and the holding company (**'Cemig H'**) sold a total volume of energy – excluding transactions on the CCEE (wholesale power exchange) – 12.8% above 4Q24.

**Cemig GT** billed 6,746 GWh (including quota sales), 22.1% more than in 4Q24, and the **holding company** sold 5,253 GWh, 2.9% more than in 4Q24.

Migration of purchase contracts from Cemig GT to the holding company began in 3Q21, and has been gradually increasing since then. So far approximately 61% of the contracts have now migrated.

Sales in the 'retail market' totaled 424.2 GWh of the total sold by Cemig GT and the holding company in 4Q25.

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** |
| **Cemig GT – MWh** | **Cemig GT – MWh** | **Cemig GT – MWh** | **Cemig GT – MWh** |
| **Free Clients** | **3780707** | **3218766** | **17.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial | 2492668 | 2246043 | 11.0% |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial | 1231932 | 954791 | 29.0% |
| &nbsp;&nbsp;&nbsp;&nbsp; Rural | 26997 | 16834 | 60.4% |
| &nbsp;&nbsp;&nbsp;&nbsp; Public authorities | 29110 | 1098 | 2,552.1% |
| **Free Market – Traders and Cooperatives** | **1791584** | **1140822** | **57.0%** |
| **Quota supply** | **566666** | **574432** | **–1.4%** |
| **Regulated Market** | **573711** | **559016** | **2.6%** |
| **Regulated Market – Cemig D** | **33068** | **33253** | **–0.6%** |
| **Total, Cemig GT** | **6745737** | **5526289** | **22.1%** |
| **Cemig H – MWh** |  |  |  |
| **Free Clients** | **2509080** | **2564269** | **–2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial | 2013426 | 2067268 | –2.6% |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial | 419091 | 458409 | –8.6% |
| &nbsp;&nbsp;&nbsp;&nbsp; Rural | 51299 | 38592 | 32.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Public services | 25264 | 0 | – |
| **Free Market – Traders and Cooperatives** | **2744164** | **2543342** | **7.9%** |
| **Total Cemig H** | **5253244** | **5107611** | **2.9%** |
| **Cemig GT + H** | **11998981** | **10633900** | **12.8%** |

---

**Sources and uses of electricity**

![](cig202603266k_029.jpg)

**Gasmig**

**Gasmig,** 99.57% owned by Cemig, is the exclusive distributor of piped natural gas for the state of Minas Gerais. With the concession expiring in January 2053, it supplies industrial, commercial and residential users, users of compressed natural gas and vehicle natural gas, and gas as fuel for thermoelectric generation plants.

Gasmig's last Tariff Review was completed in April 2022. Highlights of that Review were:

&nbsp;&nbsp;&nbsp;&nbsp;▪ The WACC used
(real, after taxes) was reduced from 10.02% p.a. to 8.71% p.a.

&nbsp;&nbsp;&nbsp;&nbsp;▪ The Net Remuneration
Base was increased significantly, to R$3.48 billion.

&nbsp;&nbsp;&nbsp;&nbsp;▪ The regulator
recognized the costs of PMSO (Personnel, Materials, outsourced Services and Other expenses) in full.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Gasmig – sales volume ('000 m<sup>3</sup>)** | **2023** | **2024** | **2025** | **4Q24** | **4Q25** | **4Q25** | **Change, 4Q24–4Q25** |
| Automotive | 31907 | 22511 | 19216 | 5435 | 4396 | –19.1% | –19.1% |
| Compressed vehicle natural gas | 541 | 630 | 417 | 161 | 99 | –38.5% | –38.5% |
| Industrial | 830943 | 786363 | 513509 | 194862 | 81837 | –58.0% | –58.0% |
| Industrial compressed natural gas | 12473 | 10275 | 8938 | 2650 | 1832 | –30.9% | –30.9% |
| Residential | 11912 | 12095 | 13194 | 3073 | 3141 | 2.2% | 2.2% |
| Co-generation | 12075 | 12164 | 10108 | 2575 | 92 | –96.4% | –96.4% |
| Commercial | 21964 | 23203 | 24598 | 6073 | 6351 | 4.6% | 4.6% |
| **Subtotal – captive market** | **921815** | **867241** | **589980** | **214829** | **97748** | **–54.5%** | **–54.5%** |
| Industrial – Free Market | 92362 | 107723 | 364178 | 45217 | 133015 | 194.2% | 194.2% |
|  Industrial compressed natural gas<br> – Free Market | – | 7699 | 10145 | – | 2613 | – | – |
| Co–generation – Free Market | – | – | 3763 | – | 3763 | – | – |
| Thermoelectric generation – Free Market | 19050 | 58046 | 66919 | 16677 | 6404 | –61.6% | –61.6% |
| **Subtotal – Free Market** | **111412** | **173468** | **445005** | **61894** | **145795** | **135.6%** | **135.6%** |
| **Total, Captive market + Free Clients** | **1033227** | **1040709** | **1034985** | **276723** | **243543** | **–12.0%** | **–12.0%** |

---

---

| | | |
|:---|:---|:---|
| **Gasmig: Ebitda (R$ '000)** | **4Q25** | **4Q24** |
| Profit (loss) for the period | 139490 | 112101 |
| Income tax and Social Contribution tax | 529 | 28498 |
| Net finance income (expenses) | 19646 | 15189 |
| Depreciation and amortization | 24326 | 23363 |
| **Ebitda per CVM Resolution 156** | **183991** | **179151** |

---

Total volume of gas distributed in 4Q25 was 12.0% below 4Q24, explained by lower captive market sales of 54.5% (117,100 m³) compared to 4Q24, and volume distributed to industrial and thermoelectric generation free clients was 135.6% (83,900 m³) higher. The main factor in these changes was migration of industrial clients to the Free Market, increasing the volume distributed to that market. Considering the total volume distributed, the industrial segment was the main contributor to the decline, with a reduction of approximately 22.6 thousand m³ compared to 4Q24.

Gasmig **net profit** in 4Q25 was 24.4% above 4Q24, mainly reflecting a lower rate of corporate income tax as a result of distribution of a higher amount of Interest on Equity: R$91.7 million in 4Q25, vs. R$59.1 million in 4Q24.

Gasmig's total number of clients increased by 5.8% from December 4Q24, to a total of 109,931 – mainly reflecting expansion of the residential client base by addition of a total of 5,900 consumers.

**Consolidated results**

**Net profit**

**Cemig** 4Q25 net profit totaled R$1,875.9 million, which compares to net profit of R$997.6 million in 4Q24. Adjusted profit was R$1,022.7 million, 12.3% below 4Q24. Among the key factors explaining this result are:

▪ A positive effect
of R$788.1 million, related to the agreement to end the post-employment obligation of the Company's health plan and dental
plan.

▪ Negative effect
from the lower GSF (generation scaling factor): 0.67 in 4Q25, vs 0.80 in 4Q24 – increasing the need for purchase of energy, in a
scenario of higher spot prices. This resulted in the total cost of acquisition of energy, in the generation activity, for management of
hydrological risk being R$81 million higher.

▪ Cemig SIM: Elimination
of crossover holdings of assets with Comerc, and acquisition of 3 photovoltaic solar plants, resulted in an accounting gain of R$88.2
million in 4Q25 (gain on disposal; advantageous purchase; and revaluation of prior holding).

&nbsp;&nbsp;&nbsp;&nbsp;▪ Profit from the
trading activity was lower, explained by higher costs of acquisition of energy – in a period of higher prices – due to the
need to close open positions in the quarter, augmented by the effect of non-compliance with contracts by some traders in difficulties.

▪ Negative effect
from a tax provision of R$127.8 million, arising from reassessment, from "possible" to "probable", of chances
of loss in a legal action on application of corporate income tax to indemnity paid, in 2006, for acquisition of employees' future
time-of-service-related benefits ()"*anuênios* ").

▪ Net finance expenses
in 4Q25, at R$290.4 million, were lower than in 4Q24 (R$396.4 million), reflecting the finance expense in 4Q24 of R$211.4
million related to the Eurobonds debt (which was fully settled in December 2024). Excluding this effect, the financial result was R$105.4
million below in 4Q25, reflecting both higher debt and also the higher Selic rate (which ranged from 10.75% to 12.25% in 4Q24 and was
15.00% in 4Q25).

&nbsp;&nbsp;&nbsp;&nbsp;▪ A revision of
the tax treatment, to include regulatory offsetting expenses as deductible, resulted in the income tax provision being R$103.6 million
lower.

<u>Non-recurring events in 4Q24</u>

▪ In 4Q24, there
was a negative effect of R$40.7 million related to impairment of the entire goodwill carried for the investment in **Norte Energia;** and

▪ As a result of
the successful auction sale of the Small Hydro Plants (PCHs) held in December 2024, there was a R$11.7 million reversal of an impairment
provision recorded in 1Q24.

More details on these variations are given below.

---

| | | |
|:---|:---|:---|
| **Cemig – Recurring profit: reconciliation**<br>**R$ mn**<br>**Net profit – IFRS** | <br>**4Q25**<br>**1875854** | <br>**4Q24**<br>**997613** |
| Remeasurement of post-employment liabilities | -788148 | 0 |
| Voluntary severance program | -606 | 0 |
| Gain on disposal of investments | -39283 | 0 |
| Advantageous purchase | -8214 | 0 |
| Gain on the remeasurement of prior stockholding | -40752 | 0 |
| Tax provisions – *Anuênio* indemnity | 127841 | 0 |
| Impairment (*Belo Monte* – goodwill) | 0 | 40745 |
| Reversal of impairment (Small hydro plants) | 0 | -11716 |
| Inclusion of regulatory offset expenses as deductible | -103600 | 0 |
| FX exposure – Eurobond hedge | 0 | 139000 |
| **Recurring net profit** | **1022691** | **1165642** |

---

More details on these variations are given below.

**Operational revenue**

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** |
|  **R$ '000** |  |  |  |
| Revenue from supply of electricity (a) | 9761949 | 9621909 | 1.5% |
| Revenue from use of distribution systems (TUSD charge) | 1549020 | 1375131 | 12.6% |
| *CVA* and *Other financial components* in tariff adjustments | 195023 | 46797 | 316.7% |
| Operation and maintenance revenue –Transmission | 75196 | –20355 | –469.4% |
| Transmission construction revenue | 199730 | 144472 | 38.2% |
| Financial remuneration of transmission contractual assets | 69134 | 219467 | –68.5% |
| Generation capital reimbursement | 34767 | 23232 | 49.7% |
| Distribution – construction revenue | 1677282 | 1402318 | 19.6% |
| Adjustment to expectation of cash flow from reimbursable distribution concession financial assets (VNR – new replacement value) | 15929 | 34754 | –54.2% |
| Gain on financial updating of Concession Grant Fee | 101989 | 117770 | –13.4% |
| Settlements on CCEE | 170757 | 10078 | 1594.4% |
| Retail supply of gas | 581286 | 988396 | –41.2% |
| Fine for continuity indicator shortfall | –35447 | –45311 | –21.8% |
| Other revenues | 1193921 | 843978 | 41.5% |
| Taxes, and charges reported as deductions from revenue | –4089520 | –3585759 | 14.0% |
| **Net revenue** | **11501016** | **11176877** | **2.9%** |

---

![](cig202603266k_030.jpg)

**Revenue from supply of electricity**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **4Q25** | **4Q25** | **4Q25** | **4Q24** | **4Q24** | **4Q24** | **Change, %** | **Change, %** |
|  | **MWh** | **R$ '000** | **Average price billed – R$/MWh (1)** | **MWh** | **R$ '000** | **Average price billed – R$/MWh (1)** | **MWh** | **R$ '000** |
| Residential | &nbsp;&nbsp;3917894 | &nbsp;&nbsp;3908144 | &nbsp;&nbsp;997.51 | &nbsp;&nbsp;3759818 | &nbsp;&nbsp;3654240 | &nbsp;&nbsp;971.92 | &nbsp;&nbsp;4.2% | &nbsp;&nbsp;6.95% |
| Industrial | &nbsp;&nbsp;4743870 | &nbsp;&nbsp;1300465 | &nbsp;&nbsp;274.14 | &nbsp;&nbsp;4596957 | &nbsp;&nbsp;1372739 | &nbsp;&nbsp;298.62 | &nbsp;&nbsp;3.2% | &nbsp;&nbsp;–5.3% |
| Commercial, services and Others | &nbsp;&nbsp;3093052 | &nbsp;&nbsp;1823222 | &nbsp;&nbsp;589.46 | &nbsp;&nbsp;2808877 | &nbsp;&nbsp;1752088 | &nbsp;&nbsp;623.77 | &nbsp;&nbsp;10.1% | &nbsp;&nbsp;4.1% |
| Rural | &nbsp;&nbsp;941584 | &nbsp;&nbsp;737698 | &nbsp;&nbsp;783.46 | &nbsp;&nbsp;783160 | &nbsp;&nbsp;659721 | &nbsp;&nbsp;842.38 | &nbsp;&nbsp;20.2% | &nbsp;&nbsp;11.8% |
| Public authorities | &nbsp;&nbsp;268623 | &nbsp;&nbsp;272083 | &nbsp;&nbsp;1012.88 | &nbsp;&nbsp;263884 | &nbsp;&nbsp;261667 | &nbsp;&nbsp;991.6 | &nbsp;&nbsp;1.8% | &nbsp;&nbsp;4.0% |
| Public lighting | &nbsp;&nbsp;237614 | &nbsp;&nbsp;157822 | &nbsp;&nbsp;664.19 | &nbsp;&nbsp;237575 | &nbsp;&nbsp;141545 | &nbsp;&nbsp;595.79 | &nbsp;&nbsp;0.0% | &nbsp;&nbsp;11.5% |
| Public services | &nbsp;&nbsp;273212 | &nbsp;&nbsp;139171 | &nbsp;&nbsp;509.39 | &nbsp;&nbsp;203044 | &nbsp;&nbsp;184125 | &nbsp;&nbsp;906.82 | &nbsp;&nbsp;34.6% | &nbsp;&nbsp;–24.4% |
| **Subtotal** | &nbsp;&nbsp;**13475849** | &nbsp;&nbsp;**8338605** | &nbsp;&nbsp;**618.78** | &nbsp;&nbsp;**12653315** | &nbsp;&nbsp;**8026125** | &nbsp;&nbsp;**634.31** | &nbsp;&nbsp;**6.5%** | &nbsp;&nbsp;**3.9%** |
| Own consumption | &nbsp;&nbsp;7396 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;7678 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;–3.7% | &nbsp;&nbsp;- |
| Retail supply not yet invoiced, net | &nbsp;&nbsp;- | &nbsp;&nbsp;27228 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;224546 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
|  | &nbsp;&nbsp;**13483245** | &nbsp;&nbsp;**8365833** | &nbsp;&nbsp;**618.78** | &nbsp;&nbsp;**12660993** | &nbsp;&nbsp;**8250671** | &nbsp;&nbsp;**634.31** | &nbsp;&nbsp;**6.5%** | &nbsp;&nbsp;**1.4%** |
| Wholesale supply to other concession holders | &nbsp;&nbsp;5605547 | &nbsp;&nbsp;1352620 | &nbsp;&nbsp;241.3 | &nbsp;&nbsp;4762961 | &nbsp;&nbsp;1338863 | &nbsp;&nbsp;281.1 | &nbsp;&nbsp;17.7% | &nbsp;&nbsp;1.0% |
| Wholesale supply not yet invoiced, net | &nbsp;&nbsp;- | &nbsp;&nbsp;43496 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;32375 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;34.4% |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;**19088792** | &nbsp;&nbsp;**9761949** | &nbsp;&nbsp;**507.89** | &nbsp;&nbsp;**17423954** | &nbsp;&nbsp;**9621909** | &nbsp;&nbsp;**537.71** | &nbsp;&nbsp;**9.6%** | &nbsp;&nbsp;**1.5%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Calculation of average price does
not include revenue from supply not yet billed.

**Consolidated volume of energy sold\*: +9.7%**

![](cig202603266k_031.jpg)

\* Includes offset DG supply.

***Energy sold to final consumers***

Gross revenue from energy sold to final consumers in 4Q25 was R$8,365.8 million, which compares with R$8,250.7 million in 4Q24, a year-on-year increase of 1.4% – resulting from volume sold 6.5% higher, and average price 2.4% lower.

***Wholesale supply***

Revenue from wholesale supply in 4Q25 was R$1,396.1 million, up 1.8% from R$1,371.2 million in 4Q24; volume of energy invoiced was 17.7% higher, led by sales to Traders, while average price was 14.2% lower.

***Transmission***

The Company's transmission revenue comprises: (i) operating and maintenance revenue, (ii) Construction Revenue, and (iii) financial compensation of the contractual asset. Transmission revenue in 4Q25 totaled R$344.1 million, 0.1% higher than in 4Q24. Construction Revenue was R$55.3 million higher, reflecting higher investment; and the aggregate of O&M revenue and financial remuneration of the contractual asset was R$54.8 million lower.

***Gas***

Gross revenue from supply of gas in 4Q25 was R$581.3 million, vs. R$988.4 million in 4Q24. The reduction mainly reflects lower volume sold due to migration of industrial clients to the Free Market.

**Revenue from Use of Distribution Systems – The TUSD charge**

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** |
| **TUSD (R$ '000)** | **TUSD (R$ '000)** | **TUSD (R$ '000)** | **TUSD (R$ '000)** |
| Use of the Electricity Distribution System | 1549020 | 1375131 | 12.6% |

---

In 4Q25 revenue from the TUSD – charged to Free Consumers for distribution of their energy – was R$173.9 million higher than in 4Q24. This reflects Cemig D's annual tariff adjustment, in effect from May 2025, and thus with full effect in this quarter, with higher charges paid by consumers, while total volume transported for Free Clients was lower.

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** |
| **POWER TRANSPORTED – MWh** | **POWER TRANSPORTED – MWh** | **POWER TRANSPORTED – MWh** | **POWER TRANSPORTED – MWh** |
| Industrial | 5177893 | 5547167 | -6.7% |
| Commercial | 762276 | 667576 | 14.2% |
| Rural | 40198 | 26629 | 51.0% |
| Public services | 256465 | 176062 | 45.7% |
| Concession holders | 82383 | 87742 | -6.1% |
| **Total energy transported** | **6319215** | **6505176** | **-2.9%** |

---

**Operational costs and expenses**

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | &nbsp;&nbsp;&nbsp;**4Q24** | **Change %** |
| **CONSOLIDATED (R$ '000)** |  |  |  |
| Electricity bought for resale | 5200988 | 4922913 | 5.6% |
| Charges for use of national grid | 750628 | 691644 | 8.5% |
| Gas purchased for resale | 227205 | 563716 | -59.7% |
| Construction cost | 1835609 | 1518396 | 20.9% |
| People | 381535 | 332460 | 14.8% |
| Employees' and managers' profit shares | 78177 | 48902 | 59.9% |
| Post-employment liabilities | -1067416 | 121809 | -976.3% |
| Materials | 65218 | 36933 | 76.6% |
| Outsourced services | 704541 | 618024 | 14.0% |
| Depreciation and amortization | 423244 | 363965 | 16.3% |
| Provisions (reversals) | 302155 | 160189 | 88.6% |
| Client default provision | 47391 | 72204 | -34.4% |
| Impairment | 0 | 17087 |  |
| Provision for loss on other credits | 15496 | 9661 | 60.4% |
| Other costs and expenses | 227669 | 181548 | 25.4% |
| **Total costs and expenses** | **9192440** | **9659451** | **-4.8%** |
| Gain on disposal of PPE | –40296 | 0 |  |
| Gain on disposal of investments | –59520 | 0 | - |
| Gains on purchase | –12446 | 0 | - |
| Capital gains | –61746 | 0 | - |
| **Total, other revenues (/ reduction of expenses)** | **-174008** | **0** | **-** |
| **Overall total** | **9018432** | **9659451** | **-6.6%** |

---

The Other revenues line, R$174.0 million, comprises a gain of R$133.7 million from elimination of crossover holdings, and purchase of solar plants, in Cemig SIM, and a gain of R$40.3 million on sales of real estate. Excluding these items, **operational costs and expenses** in 4Q25 totaled R$9.19 billion, or R$467.0 million less than in 4Q24. This reflects:

(i) a gain of R$1,194.2 million – reduction of post-employment expenses – from the agreement to terminate the post-employment
obligation of the existing health plan;

(ii) cost of gas purchased for resale R$336.5 million lower, due to the migration of Gasmig's industrial clients to the Free Market;

(iii) Construction cost R$317.2 million higher;

(iv) energy purchased for resale R$187.0 million higher, and

(v) contingency provisions R$142.0 million higher, on a R$193.7 tax provision for the legal action on social security contributions
for payment for employees' future time-of-service entitlements ("anuênios").

There are more details on costs and expenses in the following pages.

***Electricity purchased for resale***

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** |
| **CONSOLIDATED (R$ '000)** |  |  |  |
| Electricity acquired in Free Market | 2140044 | 1573303 | 36.0% |
| Electricity acquired in Regulated Market auctions | 1312185 | 1302137 | 0.8% |
| Distributed generation | 1097774 | 1038791 | 5.7% |
| Spot market | 338171 | 523810 | –35.4% |
| Supply from Itaipu Binacional | 279057 | 312780 | –10.8% |
| Physical guarantee quota contracts | 204116 | 215798 | –5.4% |
| Individual ('bilateral') contracts | 26922 | 124309 | –78.3% |
| Proinfa | 126027 | 122333 | 3.0% |
| Quotas of *Angra I* and *II* nuclear plants | 83446 | 92453 | –9.7% |
| Credits of PIS, Pasep and Cofins taxes | –406754 | –382801 | 6.3% |
|  | **5200988** | **4922913** | **5.6%** |

---

The consolidated expense of R$5.20 billion on electricity bought for resale in 4Q25, an increase of R$278.1 million from 4Q24, mainly reflects:

&nbsp;&nbsp;&nbsp;&nbsp;▪ Cost of energy
acquired in the Free Market is the largest item in energy costs. At R$2.140 billion in 4Q25 it was 36.0% (R$566.7 million) higher than
in 4Q24, due to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) purchases to supply the higher volume sold by the Trading activity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) purchases to cover hydrological risk and shortfalls in relation to commitments signed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) higher prices in the market in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;▪ Cost of distributed
generation R$59.0 million (5.7%) higher reflects the increase in the number of distributed generation facilities (from 301,804 in 4Q24
to 372,932 in 4Q25), and the related increase in the energy injected by them (from 1,666 GWh in 4Q24 to 2,251 GWh in 4Q25).

&nbsp;&nbsp;&nbsp;&nbsp;▪ Cost of energy
acquired in the spot market 35.4% (R$185.6 million) lower was mainly due to lower exposure to the spot market – the result of the
advance purchases made to meet this need.

For Cemig D, purchased energy is a non-manageable cost: the difference between the amounts used as a reference for calculation of tariffs and the costs actually incurred is compensated for in the next tariff adjustment.

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** |
| **Cemig D (R$ '000)** |  |  |  |
| Supply acquired at Regulated Market auctions | 1323883 | 1313284 | 0.8% |
| Distributed generation | 1097774 | 1038791 | 5.7% |
| Spot supply – CCEE (wholesale power exchange) | 291471 | 355623 | –18.0% |
| Supply from Itaipu Binacional | 279058 | 312780 | –10.8% |
| Physical guarantee quota contracts | 208734 | 220087 | –5.2% |
| Individual ('bilateral') contracts | 26922 | 124309 | –78.3% |
| Proinfa | 126027 | 122333 | 3.0% |
| Quotas of Angra I and II nuclear plants | 83446 | 92453 | –9.7% |
| Credits of PIS, Pasep and Cofins taxes | –205020 | –223600 | –8.3% |
|  | **3232295** | **3356060** | **–3.7%** |

---

***Charges for use of the transmission network and other system charges***

 ****

Charges for the use of the transmission network totaled R$750.6 million in 4Q25, an increase of 8% from 4Q24, mainly due to the increase in the Tariff for Use of the Transmission System (TUST) in the annual tariff adjustment.

This is a non-manageable cost in the distribution business: the difference between the amounts used as a reference for calculation of tariffs and the costs actually incurred is compensated for in the next tariff adjustment.

***Gas purchased for resale***

The expense on acquisition of gas in 4Q25 was R$227.2 million, 59.7% lower than in 4Q24 – reflecting lower total volume of gas purchased to meet demand from the regulated market, due to migration of important industrial customers to purchasing in the Free Market.

***Outsourced services***

Expenditure on outsourced services was 14.0% (R$86.5 million) higher than in 4Q24, the main factors being: R$38.3 million spent on maintenance, mainly preventive maintenance (an increase of 16.6%); R$14.5 million (+38.7%) on cleaning of power line pathways, and R$9.4 million (+44.7%) on conservation and cleaning of buildings.

***Client default allowance***

The provisioned allowance for client default was R$47.4 million in 4Q25, or R$24.8 million less than in 4Q24.

***Provisions***

 ****

Provisions for contingencies totaled R$302.2 million, R$142.0 million higher than in 4Q24. The main factor is a tax provision of R$193.7 million in 4Q25 for reassessment, from "possible" to "probable", of the chances of loss in the legal action concerning applicability of income tax in relation to payments which the company made to employees in 2006 as an indemnity in exchange for time-of-service-related amounts ('*anuênios*') to be incorporated into future salary payments.

***Employees' and managers' profit shares***

 ****

The expenditure on profit shares in 4Q25 was R$78.2 million. The increase from R$48.9 million in 4Q24 was due to the agreement for the retroactive payment of R$31.2 million for employees who had not received the payment in 2022.

***Post-employment liabilities***

 ****

In 4Q25 the Company made a reversal of R$1,067.4 million in post-retirement liabilities – which compares to an expense of R$121.8 million in 4Q24. This is due to the agreement between the Company and the unions, ratified by the 3<sup>rd</sup> Regional Employment-Law Tribunal, for discontinuation of Cemig's contributions to the *ProSaúde Integrado* health plan, and the *Dental Plan for former employees who have retired*. The total of the obligation (approximately R$2.5 billion) was written off, in exchange for an indemnity payment of R$1.28 billion.

See more details about this agreement at this link:

https://ri.cemig.com.br/docs/Fato-Relevante-Cemig-2025-12-12-TWQzJn7M.pdf

Evolution of post-employment obligations over the last two years.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated** | **Pension plans and retirement supplement plans** | **Health Plan** | **Dental Plan** | **Total** |
| **Net liability on December 31, 2023** | **2356542** | **3005748** | **54306** | **5416596** |
| Expense recognized in Profit and Loss | 213952 | 268870 | 4852 | 487674 |
| Contributions paid | –239184 | –196610 | –3517 | –439311 |
| Actuarial losses (gains) | –630086 | –518980 | –10387 | –1159453 |
| **Net liability on December 31, 2024** | **1701224** | **2559028** | **45254** | **4305506** |
| Expense recognized in Profit and Loss | 210093 | 299903 | 5209 | 515205 |
| Cost of past service | – | –2501123 | –44470 | –2545593 |
| Contributions paid | –184100 | –178419 | –2406 | –364925 |
| Actuarial losses (gains) | 75352 | –179389 | –3587 | –107624 |
| **Net liability on December 31, 2025** | **1802569** | **–** | **–** | **1802569** |

---

 **

***People***

 **

The expense on personnel in 4Q25 was R$381.5 million, or R$49.1 million higher than in 4Q24 – reflecting: (i) a 5.8% increase in the number of employees; (ii) a salary increase of 4.49% in November 2025 for employees represented by three unions (Sindieletro, Juiz de Fora and Sintec); and (iii) a salary increase of 3.68%, in June 2025, for all other employees.

**Cost of personnel**

**R$ million, excluding the voluntary severance program ('PDVP').**

![](cig202603266k_032.jpg)

**Number of employees – by company**

![](cig202603266k_033.jpg)

**Finance income and expenses**

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** |
| **(R$ '000)** |  |  |  |
| Finance income | 250258 | 283578 | –11.7% |
| Finance expenses | –540689 | –679958 | –20.5% |
| **Net finance income (expenses)** | –**290431** | –**396380** | **–26.7%** |

---

Cemig reports 4Q25 consolidated Net finance expenses of R$290.4 million, or R$105.9 million less than in 4Q24. The main factors in the result were:

&nbsp;&nbsp;&nbsp;&nbsp;▪ Finance expenses
in 4Q24 included a net expense of R$211.4 million related to the debt in Eurobonds, resulting from the US dollar appreciating 13.7%
against the Real in the quarter. This debt was settled in full in December 2024.

&nbsp;&nbsp;&nbsp;&nbsp;▪ The financial
expense on debentures was R$143.6 million higher, due to (i) higher gross debt, and (ii) higher Selic rate (15.00% in
4Q25, compared to variation from 10.50% to 12.25% in 4Q24).

**Gain (loss) in non-consolidated investees (Equity income)**

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change R$ '000** |
| **Gain/loss on equity in non-consolidated investees** |  |  |  |
| *Taesa* | &nbsp;&nbsp;&nbsp;&nbsp;71921 | &nbsp;&nbsp;&nbsp;&nbsp;110989 | &nbsp;&nbsp;&nbsp;&nbsp;–39068 |
| Cemig Sim (Equity interests) | &nbsp;&nbsp;&nbsp;&nbsp;4026 | &nbsp;&nbsp;&nbsp;&nbsp;5488 | &nbsp;&nbsp;&nbsp;&nbsp;–1462 |
| Paracambi | &nbsp;&nbsp;&nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;&nbsp;7877 | &nbsp;&nbsp;&nbsp;&nbsp;–5107 |
| Hidrelétrica Cachoeirão | &nbsp;&nbsp;&nbsp;&nbsp;1590 | &nbsp;&nbsp;&nbsp;&nbsp;1448 | &nbsp;&nbsp;&nbsp;&nbsp;142 |
| Hidrelétrica Pipoca | &nbsp;&nbsp;&nbsp;&nbsp;872 | &nbsp;&nbsp;&nbsp;&nbsp;2957 | &nbsp;&nbsp;&nbsp;&nbsp;–2085 |
| Guanhães Energia | &nbsp;&nbsp;&nbsp;&nbsp;–167 | &nbsp;&nbsp;&nbsp;&nbsp;5595 | &nbsp;&nbsp;&nbsp;&nbsp;–5762 |
| *Belo Monte* (Aliança Norte and Amazônia Energia) | &nbsp;&nbsp;&nbsp;&nbsp;–40325 | &nbsp;&nbsp;&nbsp;&nbsp;–101509 | &nbsp;&nbsp;&nbsp;&nbsp;61184 |
| **Total** | &nbsp;&nbsp;&nbsp;&nbsp;**40687** | &nbsp;&nbsp;&nbsp;&nbsp;**32845** | &nbsp;&nbsp;&nbsp;&nbsp;**7842** |

---

The main factor in equity income being R$7.8 million higher in 4Q25 than in 4Q24 was the improvement in *Belo Monte*, which had a higher negative component in operational cost in 4Q24, due to constitution of a contract related to the difference between volumes of energy contracted in transactions for future purchase and sale of supply. The equity gain from **Taesa** was lower year-on-year, mainly due to deflation in the IGP-M index in 4Q25, and the lower IPCA inflation index (0.60% in 4Q25, vs. 1.47% in 4Q24) – these indices adjust the value of Taesa's contractual assets.

**CONSOLIDATED EBITDA – 2025 and 4Q25 (IFRS, and Adjusted)**

(1) Ebitda is a non-accounting metric,
prepared by the Company, reconciled with its consolidated financial statements in accordance with the specifications in CVM Circular SNC/SEP
01/2007 and CVM Resolution 156 of June 23, 2022. It comprises: Net profit adjusted for the effects of: (i) Net finance income (expense),
(ii) Depreciation and amortization, and (iii) Income tax and the Social Contribution tax. Ebitda is not a metric recognized
by Brazilian GAAP nor by IFRS; it does not have a standard meaning; and it may be non-comparable with metrics with similar titles provided
by other companies. Cemig publishes Ebitda because it uses it to measure its own performance. Ebitda should not be considered in isolation
or as a substitute for net profit or operational profit, nor as an indicator of operational performance or cash flow, nor to measure liquidity,
nor capacity for payment of debt. Cemig adjusts its Ebitda (calculated in accordance with CVM Instruction 156/2022) to exclude extraordinary
items which, by their nature, do not contribute to information on the potential for gross cash flow generation.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated 2025 Ebitda** | **Consolidated 2025 Ebitda** | **Consolidated 2025 Ebitda** | **Consolidated 2025 Ebitda** | **Consolidated 2025 Ebitda** | **Consolidated 2025 Ebitda** | **Consolidated 2025 Ebitda** | **Consolidated 2025 Ebitda** |
| **2025 Ebitda – R$ '000** | &nbsp;&nbsp;**Generation** | &nbsp;&nbsp;**Transmission** | &nbsp;&nbsp;**Trading** | &nbsp;&nbsp;**Distribution** | **Gas** | &nbsp;&nbsp;**Holding and equity interests** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp;Net profit for the period | 1520779 | 451964 | 163237 | 2121172 | 513560 | 128905 | 4899617 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax and Social Contribution tax | 184582 | 45377 | -35144 | 425838 | 183103 | -32149 | 771607 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net finance income (exp.) | -2250 | 30516 | -17335 | 886301 | 49364 | 132488 | 1079084 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 329560 | 15106 | 11 | 1054325 | 102405 | 32009 | 1533416 |
| &nbsp;&nbsp;&nbsp;&nbsp;**= Ebitda (1)** | **2032671** | **542963** | **110769** | **4487636** | **848432** | **261253** | **8283724** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Non-recurring effects** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net profit attributed to non-controlling stockholders | 0 | 0 | 0 | 0 | -2208 | 0 | -2208 |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement of post-employment liabilities | -127904 | -79027 | -18105 | -921761 | 0 | -118798 | -1265595 |
| &nbsp;&nbsp;&nbsp;&nbsp;National grid remeasurement (RBSE) | 0 | 198895 | 0 | 0 | 0 | 0 | 198895 |
| &nbsp;&nbsp;&nbsp;&nbsp;Voluntary severance program | 1160 | 1336 | 229 | 18503 | 0 | 768 | 21996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposal of investments | 0 | 0 | 0 | 0 | 0 | -59520 | -59520 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advantageous purchase | 0 | 0 | 0 | 0 | 0 | -12446 | -12446 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain from remeasurement of prior holding | 0 | 0 | 0 | 0 | 0 | -61746 | -61746 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax provision – *Anuênio* | 28188 | 17416 | 3990 | 138741 | - | 5364 | 193699 |
| **Adjusted Ebitda** | **1934115** | **681583** | **96883** | **3723119** | **846224** | **14875** | **7296799** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated 2024 Ebitda** | **Consolidated 2024 Ebitda** | **Consolidated 2024 Ebitda** | **Consolidated 2024 Ebitda** | **Consolidated 2024 Ebitda** | **Consolidated 2024 Ebitda** | **Consolidated 2024 Ebitda** | **Consolidated 2024 Ebitda** |
| **2024 Ebitda – R$ '000** | &nbsp;&nbsp;**Generation** | &nbsp;&nbsp;**Transmission** | &nbsp;&nbsp;**Trading** | &nbsp;&nbsp;**Distribution** | &nbsp;&nbsp;**Gas** | &nbsp;&nbsp;**Holding co. and equity interests** | &nbsp;&nbsp;**Total** |
| Net profit for the period | &nbsp;&nbsp;1281053 | &nbsp;&nbsp;1560286 | &nbsp;&nbsp;516534 | &nbsp;&nbsp;2206253 | &nbsp;&nbsp;497906 | &nbsp;&nbsp;1057255 | &nbsp;&nbsp;7119287 |
| Income tax and Social Contribution tax | &nbsp;&nbsp;333818 | &nbsp;&nbsp;556697 | &nbsp;&nbsp;136335 | &nbsp;&nbsp;661917 | &nbsp;&nbsp;212753 | &nbsp;&nbsp;336333 | &nbsp;&nbsp;2237853 |
| Net finance income (expenses) | &nbsp;&nbsp;179933 | &nbsp;&nbsp;108322 | &nbsp;&nbsp;-23547 | &nbsp;&nbsp;16816 | &nbsp;&nbsp;52453 | &nbsp;&nbsp;186816 | &nbsp;&nbsp;520793 |
| Depreciation and amortization | &nbsp;&nbsp;324764 | &nbsp;&nbsp;8834 | &nbsp;&nbsp;15 | &nbsp;&nbsp;921920 | &nbsp;&nbsp;97621 | &nbsp;&nbsp;22873 | &nbsp;&nbsp;1376027 |
| **= Ebitda (1)** | &nbsp;&nbsp;**2119568** | &nbsp;&nbsp;**2234139** | &nbsp;&nbsp;**629337** | &nbsp;&nbsp;**3806906** | &nbsp;&nbsp;**860733** | &nbsp;&nbsp;**1603277** | &nbsp;&nbsp;**11253960** |
| **Non-recurring and non-cash effects** |  |  |  |  |  |  |  |
| Net profit attributed to non-controlling stockholders | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;–2141 | &nbsp;&nbsp;- | &nbsp;&nbsp;–2141 |
| Gain on sale of generation plants | &nbsp;&nbsp;–42989 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;–42989 |
| Impairment | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;5229 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;40745 | &nbsp;&nbsp;45974 |
|  Third party civil claims provision<br> – Power purchasing agreements | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;52647 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;52647 |
| Reversal of tax provisions – profit sharing | &nbsp;&nbsp;–30503 | &nbsp;&nbsp;–32967 | &nbsp;&nbsp;–5049 | &nbsp;&nbsp;–513331 | &nbsp;&nbsp;- | &nbsp;&nbsp;–2500 | &nbsp;&nbsp;–584350 |
| Voluntary severance program | &nbsp;&nbsp;9312 | &nbsp;&nbsp;10064 | &nbsp;&nbsp;1541 | &nbsp;&nbsp;56468 | &nbsp;&nbsp;- | &nbsp;&nbsp;763 | &nbsp;&nbsp;78148 |
| Gain on disposal of investments | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;–1616911 | &nbsp;&nbsp;–1616911 |
| Result of Periodic Tariff Review | &nbsp;&nbsp;- | &nbsp;&nbsp;–1520631 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;–1520631 |
| Reversal of provision with related party | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;–57835 | &nbsp;&nbsp;–57835 |
| **Adjusted Ebitda** | &nbsp;&nbsp;**2055388** | &nbsp;&nbsp;**690605** | &nbsp;&nbsp;**683705** | &nbsp;&nbsp;**3350043** | &nbsp;&nbsp;**858592** | &nbsp;&nbsp;–**32461** | &nbsp;&nbsp;**7605872** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated 4Q25 Ebitda** | **Consolidated 4Q25 Ebitda** | **Consolidated 4Q25 Ebitda** | **Consolidated 4Q25 Ebitda** | **Consolidated 4Q25 Ebitda** | **Consolidated 4Q25 Ebitda** | **Consolidated 4Q25 Ebitda** | **Consolidated 4Q25 Ebitda** |
| **R$ '000** | &nbsp;&nbsp;**Generation** | &nbsp;&nbsp;**Transmission** | &nbsp;&nbsp;**Trading** | &nbsp;&nbsp;**Distribution** | &nbsp;&nbsp;**Gas** | &nbsp;&nbsp;**Holding co. and equity interests** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp;Profit (loss) for the period | 319699 | 180658 | 104352 | 977361 | 137983 | 155801 | 1875854 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax and Social Contribution tax | 67572 | 20572 | 10118 | 213926 | -349 | 45146 | 356985 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net finance income (exp.) | 5713 | 9235 | -4532 | 218302 | 19646 | 42067 | 290431 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 92232 | 3977 | 3 | 290458 | 26029 | 10545 | 423244 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Ebitda (1)** | **485216** | **214442** | **109941** | **1700047** | **183309** | **253559** | **2946514** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Non-recurring and non-cash effects** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net profit attributed to non-controlling stockholders | 0 | 0 | 0 | 0 | -593 | 0 | -593 |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement of post-employment liabilities | -121104 | -74827 | -17143 | -864844 | 0 | -116246 | -1194164 |
| &nbsp;&nbsp;&nbsp;&nbsp;Voluntary severance program | -522 | 423 | 5 | -386 | 0 | -438 | -918 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on disposal of investments | 0 | 0 | 0 | 0 | 0 | -59520 | -59520 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advantageous purchase | 0 | 0 | 0 | 0 | 0 | -12446 | -12446 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain from remeasurement of prior holding | 0 | 0 | 0 | 0 | 0 | -61746 | -61746 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax provisions – *Anuênio* | 28188 | 17416 | 3990 | 138741 | - | 5364 | 193699 |
| **Adjusted Ebitda** | **391778** | **157454** | **96793** | **973558** | **182716** | **8527** | **1810826** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated 4Q24 Ebitda** | **Consolidated 4Q24 Ebitda** | **Consolidated 4Q24 Ebitda** | **Consolidated 4Q24 Ebitda** | **Consolidated 4Q24 Ebitda** | **Consolidated 4Q24 Ebitda** | **Consolidated 4Q24 Ebitda** | **Consolidated 4Q24 Ebitda** |
| **R$ '000** | **Generation** | **Transmission** | **Trading** | **Distribution** | **Gas** | &nbsp;&nbsp;**Holding co. and equity interests** | **Total** |
| Profit (loss) for the period | 327459 | 118783 | 128453 | 451757 | 112100 | –140939 | 997613 |
| Income tax and Social Cont. tax | 49915 | 6403 | 32598 | 116608 | 26795 | –76041 | 156278 |
| Net finance income (expenses) | 79355 | 68226 | -6079 | 137898 | 15190 | 101790 | 396380 |
| Depreciation and amortization | 78857 | 2626 | 3 | 251511 | 25065 | 5933 | 363995 |
| **Ebitda (1)** | **535586** | **196038** | **154975** | **957774** | **179150** | –**109257** | **1914266** |
| Net profit attributed to non-controlling stockholders | - | - | - | - | –482 | - | –482 |
| Impairment | –17751 | 0 | - | - | - | - | –17751 |
| Impairment (goodwill) | - | - | - | - | - | 40745 | 40745 |
| **Adjusted Ebitda** | **517835** | **196038** | **154975** | **957774** | **178668** | **-68512** | **1936778** |

---

4Q25 Ebitda was 53.9% higher than in 4Q24, while adjusted Ebitda was 6.5% lower. The result was mainly explained by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Positive item
of R$1,194.2 million in 4Q25, resulting from the agreement to terminate the post-employment obligation of the health plan and dental
plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Reduction of
R$126.0 million in adjusted Ebitda of Generation **–** from the effect of (i) the GSF (0.67 in 4Q25, vs.
0.80 in 4Q24); and (ii) the spot price being 11% higher.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Weaker result
from Trading, on exposure to higher prices for energy purchases to close positions, including those related to contracts signed with traders
who filed for judicial recovery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ **Cemig SIM:** elimination of crossover holdings with Comerc, and purchase of 3 photovoltaic generation plants, resulting in an accounting gain of R$133.7
million in 4Q25 (gain on disposal; advantageous purchase; and revaluation of prior holding).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Tax provision:
a negative effect of R$193.6 million, due to reassessment, from "possible" to "probable", of chances of
losing the legal action on application of corporate income tax to the indemnity paid in 2006, to acquire employees' future time-of-service-related
benefits ()"*anuênios* ").

**Ebitda of Cemig D**

---

| | | | |
|:---|:---|:---|:---|
|  | **4Q25** | **4Q24** | **Change %** |
| **Cemig D Ebitda – R$ '000** |  |  |  |
| Net profit for the period | 977362 | 451758 | 116.3 |
| Income tax and Social Contribution tax | 213926 | 116608 | 83.5 |
| Net finance income (expense) | 218302 | 137897 | 58.3 |
| Amortization | 290460 | 251511 | 15.5 |
| **Ebitda per CVM Resolution 156** | **1700050** | **957774** | **77.5** |
| Remeasurement of post-employment liabilities | –864844 | - | - |
| Tax provisions – *Anuênio* indemnity | 138741 | - | - |
| **Adjusted Ebitda** | **973947** | **957774** | **1.7** |
| New replacement value (VNR) | –15929 | –34754 | –54.2 |
| Adjusted Ebitda less VNR | 958018 | 923020 | 3.8 |

---

**Cemig D** posted a **4Q25 Ebitda** of R$1,700.1 million, 77.5% above 4Q24. **Adjusted Ebitda**, of R$973.9 million, was 1.7% higher than in 4Q24.

Among the key factors explaining the results are:

▪ Increase of R$138
million in the "Portion B" component per quarter, following the May 2025 annual tariff adjustment, offset by a reduction in
market volume compared to 4Q24.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Energy distributed (excluding
distributed generation) was 3.5% lower year-on-year (4.3% lower to the captive market, and 2.9% lower to the Free Market) – mainly
reflecting: (i) migration to DG, and (ii) industrial consumption 7.7% lower, in which a strong component was migration of two
large clients to the Free Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Total energy distributed, including
the total of offset DG supply, was 1.4% lower than in 4Q24.

&nbsp;&nbsp;&nbsp;&nbsp;▪ Provision for
expected loss on receivables R$29.0 million lower: R$45.4 million in 4Q25, vs R$74.4 million in 4Q24.

&nbsp;&nbsp;&nbsp;&nbsp;▪ Positive effect
of R$864.8 million, following the agreement to terminate the post-employment obligation of
the health plan and the dental plan.

&nbsp;&nbsp;&nbsp;&nbsp;▪ A new tax provision
of R$138.7 million, related to the reassessment, from "possible" to "probable", of chances of loss in a
legal action concerning application of corporate income tax to the indemnity paid, in 2006, for acquisition of employees' future
time-of-service-related benefits ()"*anuênios* ").

&nbsp;&nbsp;&nbsp;&nbsp;▪ Expense of R$25.1
million, related to a component of 2022 profit sharing program not paid that year to employees represented by unions that took part in
the legal action.

&nbsp;&nbsp;&nbsp;&nbsp;▪ New Replacement
Value (VNR) of R$15.9 million in 4Q25, compared to R$34.89 million in 4Q24.

**Ebitda of Cemig GT**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Cemig GT – 4Q25 Ebitda** |  |  |  |  |  |
| **R$ '000** | **Generation** | **Transmission** | **Trading** | **Equity interests** | **Total** |
| Profit (loss) for the period | 319698 | 178686 | –11887 | 60868 | 547365 |
| Income tax and Social Contribution tax | 67572 | 19569 | –15358 | 39004 | 110787 |
| Net finance income (expenses) | 5713 | 9746 | –4533 | 22899 | 33825 |
| Depreciation and amortization | 97589 | 4038 | 3 | 9292 | 110922 |
| **Ebitda per CVM Resolution 156** | **490572** | **212039** | –**31775** | **132063** | **802899** |
| Gain on disposal of investments | 0 | 0 | 0 | –59520 | –59520 |
| Advantageous purchase | 0 | 0 | 0 | –12446 | –12446 |
| Gain on remeasurement of interests | 0 | 0 | 0 | –61746 | –61746 |
| Voluntary severance program | –238 | -21 | -19 | -72 | -350 |
| Remeasurement of post-employment liability | –121254 | –74919 | –17164 | –23073 | –236410 |
| Tax provisions – *Anuênio* indemnity | 23416 | 14468 | 3314 | 4456 | 45654 |
| **Adjusted Ebitda** | **392496** | **151567** | –**45644** | –**20338** | **478081** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Cemig GT: 4Q24 Ebitda** |  |  |  |  |  |
| **R$ '000** | **Generation** | **Transmission** | **Trading** | **Equity interests** | **Total** |
| Profit (loss) for the period | 333725 | 110575 | –19571 | –183522 | 241207 |
| Income tax and Social Contribution tax | 49915 | 5519 | –33131 | –39952 | –17649 |
| Net finance income (expenses) | 79355 | 68696 | –6079 | 79677 | 221649 |
| Depreciation and amortization | 73727 | 8587 | 3 | – | 82317 |
| **Ebitda per CVM Resolution 156** | **536722** | **193377** | **–58778** | **–143797** | **527524** |
| Impairment | –17751 | **–** | **–** |  | –17751 |
| Impairment (goodwill – Aliança Norte) | – | – | – | 40745 | 40745 |
| **Adjusted Ebitda** | **518971** | **193377** | **–58778** | **–103052** | **550518** |

---

**Cemig GT** reported **4Q25 Ebitda** of R$802.9 million, 52.2% **above** 4Q24. Adjusted Ebitda in the period was R$478.1 million, 13.2% lower than in 4Q24. Among the key factors explaining the results are:

&nbsp;&nbsp;&nbsp;&nbsp;▪ Lower GSF in
the quarter (0.675 in 4Q25, vs 0.799 in 4Q24), increasing the need for energy purchase in a period of higher spot prices – generating
a negative impact of R$81 million.

&nbsp;&nbsp;&nbsp;&nbsp;▪ Positive effect
of R$236.4 million, following the agreement to terminate post-employment obligations of the health plan and dental plan.

&nbsp;&nbsp;&nbsp;&nbsp;▪ Equity income
(gain in non-consolidated investees) R$48.4 million higher, mainly from *Belo Monte*, which had a higher negative contribution
in 4Q24 due to the effect on operational cost of constitution of a contract related to the difference between volumes of energy contracted
for sale and purchase in future power purchase agreements.

&nbsp;&nbsp;&nbsp;&nbsp;▪ **Cemig SIM:** Elimination of crossover holdings with Comerc, and acquisition of 3 photovoltaic solar plants, resulted in an accounting gain of R$133.7
million in 4Q25 (gain on disposal; advantageous purchase; and revaluation of prior holding).

&nbsp;&nbsp;&nbsp;&nbsp;▪ Tax provision
of R$45.6 million, due to reassessment, from "possible" to "probable", of chances of losing the legal action
on application of corporate income tax to the indemnity paid, in 2006, to acquire of employees' future time-of-service-related benefits
(" *anuênios* ").

&nbsp;&nbsp;&nbsp;&nbsp;▪ An expense of
R$3.6 million, related to backdated payment of 2022 for profit sharing program to employees represented by unions that participated
in the legal action.

&nbsp;&nbsp;&nbsp;&nbsp;▪ Revenue from
solar generation R$35 million higher, with the conclusion of works on the *Boa Esperança* and *Jusante* plants *.* 

<u>Non-recurring effects in 4Q24</u>

&nbsp;&nbsp;&nbsp;&nbsp;▪ In 4Q24: (i) an
impairment of R$17.7 million was reversed following the successful auction sale of 4 small hydro plants, and (ii) an impairment
of R$40.7 million was recognized in the goodwill of **Aliança Norte.** 

**Investments**

**In 2025, Cemig invested a total of R$6.63 billion**, or 16.0% more than in 2024. The investment realized in **4Q25** totaled **R$1.9 billion.**

Main highlights in the year were: Investment of **R$5.1 billion** by **Cemig Distribution**, with connection of more than 203,000 new clients, 23 new substations, construction of 12,756 km of low and medium voltage networks, and installation of 220,000 smart meters; in **Transmission,** investment of R$410 million in strengthening and improvements; in **Generation,** extension of the concessions of 3 plants with purchase of credits at the GSF auction (R$199 million), and addition of 68 MWp of installed capacity in photovoltaic distributed generation; and in **Gasmig**, construction of 192 km of pipelines, including the inauguration of the Centro-Oeste gas pipeline, which marks the arrival of piped natural gas in Betim, Itaúna, Divinópolis, and the surrounding region.

This execution of the largest investment program in Cemig's history will modernize its electricity system, ensuring reliability, in line with its strategic plan of focusing on Minas Gerais and its core businesses, and providing ever-improving service to its clients. Investment totaling **R$43.7 billion** is planned for **2026 through 2030,** of which R$6.72 billion is to be invested in 2026.

![](cig202603266k_034.jpg)

**Debt**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**CONSOLIDATED (R$ '000)** | &nbsp;&nbsp;**2025** | &nbsp;&nbsp;**2024** | &nbsp;&nbsp;**Change, %** |
| &nbsp;&nbsp;Gross debt | &nbsp;&nbsp;19465331 | &nbsp;&nbsp;12279300 | &nbsp;&nbsp;58.5% |
| &nbsp;&nbsp;Cash, cash equivalents and securities | &nbsp;&nbsp;2661338 | &nbsp;&nbsp;2390743 | &nbsp;&nbsp;11.3% |
| &nbsp;&nbsp;Net debt | &nbsp;&nbsp;*16803993* | &nbsp;&nbsp;*9888557* | &nbsp;&nbsp;*69.9%* |
| &nbsp;&nbsp;**CEMIG GT (R$ '000)** |  |  |  |
| &nbsp;&nbsp;Gross debt | &nbsp;&nbsp;3155368 | &nbsp;&nbsp;1031924 | &nbsp;&nbsp;205.8% |
| &nbsp;&nbsp;Cash, cash equivalents and securities | &nbsp;&nbsp;463891 | &nbsp;&nbsp;542566 | &nbsp;&nbsp;-14.5% |
| &nbsp;&nbsp;Net debt | &nbsp;&nbsp;*2691477* | &nbsp;&nbsp;*489358* | &nbsp;&nbsp;*450.0%* |
| &nbsp;&nbsp;**CEMIG D (R$ '000)** |  |  |  |
| &nbsp;&nbsp;Gross debt | &nbsp;&nbsp;14892088 | &nbsp;&nbsp;10037621 | &nbsp;&nbsp;48.4% |
| &nbsp;&nbsp;Cash, cash equivalents and securities | &nbsp;&nbsp;1268007 | &nbsp;&nbsp;1114866 | &nbsp;&nbsp;13.7% |
| &nbsp;&nbsp;Net debt | &nbsp;&nbsp;*13624081* | &nbsp;&nbsp;*8922755* | &nbsp;&nbsp;*52.7%* |

---

**Consolidated debt: amortization timetable**

**R$ million**

![](cig202603266k_035.jpg)

In 4Q25 **Cemig GT** amortized debt amounting to R$233.3 million and debentures were issued totaling R$4.3 billion: of which R$2.5 billion were issued by **Cemig D** and R$1.5 billion by **Cemig GT** – in two series, paying IPCA inflation +6.79% for the 12-year series and IPCA+6.65% for the 15-year series; and **Gasmig** issued R$300 million, with maturity at 10 years, paying IPCA+6.50%.

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **4Q25** | &nbsp;&nbsp;**2025** |
| **DEBT AMORTIZED – R$ '000** | **DEBT AMORTIZED – R$ '000** | **DEBT AMORTIZED – R$ '000** |
| &nbsp;&nbsp;**Cemig GT** | &nbsp;&nbsp;233333 | &nbsp;&nbsp;233333 |
| &nbsp;&nbsp;**Cemig D** | &nbsp;&nbsp;0 | &nbsp;&nbsp;2368868 |
| &nbsp;&nbsp;**Others** | &nbsp;&nbsp; - | &nbsp;&nbsp;95000 |
| &nbsp;&nbsp;**Total** | &nbsp;&nbsp;233333 | &nbsp;&nbsp;2697201 |

---

In 2025, the Company maintained discipline in executing its financial strategy, prioritizing cash flow optimization, a reduction in the cost of capital, and the extension of its debt maturity profile.

As a result of the fundraisings carried out during the period, the average debt maturity increased to 6.9 years at the end of 2025 (versus 4.8 years in 2024). Additionally, 76% of total indebtedness matures from 2029 onwards, positioning the amortization schedule predominantly after the tariff review process of both the distribution and transmission businesses, thereby providing greater financial predictability and stability.

Financial Resilience and Flexibility

Considering the scenario planting and sensitivity analysis, the Company is well positioned given its high-quality ratings and the nature defensive position of the electricity sector. The capital structure is reinforced by pre-approved credit lines of quick access in case of volatility. Management is continuously monitoring funding opportunities, including multilateral institutions, development banks, receivable loans and the 4.131 loans, allowing to choose the best market opportunity. In scenarios during which the spread differences increase, and the impact of the total cost of debt is marginal, given that the current outstanding liabilities are not impacted by the volatility of secondary rates.

Covenant Structure

The company reiterates that its current covenant clauses are at appropriate levels and in line with the maturity of its project and the sector, guaranteeing stability both to investors and the sustainability of the operations.

![](cig202603266k_036.jpg)

**Evolution of Cemig's Credit Ratings**

Cemig's credit ratings have evolved consistently over recent years, currently reaching the highest level in the Company's history.

In 2025, the Company achieved an AAA rating from an additional credit rating agency, following the upgrade by Moody's, reinforcing the recognition of its financial strength, consistency of results, and discipline in capital allocation.

The trajectory of the credit rating evolution is presented in the graph below:

![](cig202603266k_038.jpg)

![](cig202603266k_039.jpg)

**ESG – Report on performance**

Cemig has assumed public commitments in terms of sustainability. To meet and execute them, it designs and executes strategic initiatives, monitored by corporate indicators and targets, in five key areas:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the energy
transition,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the environment,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) local development,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) our people
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) solid governance:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **The energy transition** | **Environment** | &nbsp;&nbsp; **Local** <br> **development** | **Our people** | **Solid governance** |
| &nbsp;&nbsp; <br> · Offset 100% of scope 1 emissions by 2026.<br> · Net zero by 2040; reduce total greenhouse gas emissions by 60% by 2030.<br> · Operate 100% renewable generation.<br> · Place a total of 37.4 million renewable energy certificates by 2030.<br> · Redundant feed supply to 100% of municipal administrations.<br> · Connect 7GW of distributed generation by 2028.<br> · Install smart meters up to 2027. | &nbsp;&nbsp;&nbsp; <br> · By 2027: <br> Recycle or reuse at least 98% of industrial waste generated.<br> · Diagnose Cemig's impact, and dependence, on ecosystem services. | &nbsp;&nbsp;&nbsp; <br> · Digitalize at least 85% of customer services by 2026.<br> · Convert <br> single-phase network to<br> three-phase – through the<br> *Minas* <br> *Three-Phase Project* – by 2027.<br> · Benefit <br> 120,000 families by regularizing their energy supply.<br> · Benefit at least<br> 60,000 people with projects for:<br> – infancy,<br> – the elderly, and<br> – sports,<br> by 2027. | &nbsp;&nbsp;&nbsp; <br> · Install<br> a culture of<br> *health and safe behavior* throughout both the Company and the value chain, by 2030.<br> · By 2030, have a culture of valuing diversity, equity and inclusion <br> fully in place. | &nbsp;&nbsp; <br> · Comply with 100% of requirements of the UN Global Compact *Transparency Movement*, by 2026.<br> · Maintain, up to 2030, zero index of personal data leaks able to cause owners material personal harm.<br> · Implement the *Program for Sustainable Management of the Value Chain* by 2027. |

---

![](cig202603266k_040.jpg)

Cemig ESG highlights

**The energy transition**

Indicating the constant, determined nature of its efforts, Cemig was able to re-emphasize its climate leadership by achieving early compliance with the requirement to offset **100% of Scope 1 emissions by 2024** (the figures for 2025 are still being collated), and will continue to offset emissions in the coming years.

**In distributed generation**, Cemig has connected capacity of more than **5.5 GWh** – more than half of its 2028 target of 7 GW.

In compliance with Aneel's Resolution 1137/2025, Cemig has developed a new **Contingency Plan**, setting directives for increasing the resilience of the distribution and transmission systems in relation to severe climate events. This document sets procedures and responsibilities to ensure efficient response to critical situations, prioritizing safety of employees and the population, and continuity of power supply.

Cemig was again selected for the **"A List" of CDP** – the Carbon Disclosure Project – earning the maximum score in 10 of the 16 criteria evaluated. The assessment highlighted:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Public commitment to zero net emissions by 2040.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Development of low carbon products.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Strong initiatives to mitigate emissions and modernize the network.

**Environment**

Cemig has fulfilled significant environmental commitments ahead of time. The **ecosystem diagnosis** – of the Company's impacts and dependence on ecosystem services, scheduled for 2026, has been completed.

**Local development**

Cemig contributes to local development, with efforts in numerous projects benefiting society. An example is its commitment to **benefit at least 60,000 people** with projects for infancy, the elderly and sport by 2027. So far in 2024 and 2025 **just under 50,000 people** have benefited from actions that expand opportunities, strengthen communities and contribute to quality of life.

**Our people**

Underlining our commitment to a healthy and inclusive work environment, we support and subscribe to the ***Mind in Focus* Program** of the UN Global Compact in Brazil – dedicated to promoting employee mental health and well-being.

**Solid governance**

Cemig complies with the targets set by the *Transparency Movement* of the UN Global Compact. (i) 30 professionals of supplier companies have been trained in the Cemig Code of Conduct; (ii) it has upheld a zero rate of cybersecurity incidents, underlining its commitment to data protection and integrity of the value chain; and (iii) in addition, the Company has now adopted the Declaration of Conformity with ISO 31000 – international recognition as a reference in risk management – for the third consecutive year.

**Sustainalytics**

Cemig improved its **Sustainalytics ESG Risk Rating** by 1.9 points, to 20.4, bringing it into the medium risk category, indicating high performance in ESG management. This recognizes and underlines Cemig's progress in management of environmental, social and governance risks, and places it among the industry leaders.

**This rating** is one of the leading global references for investors and stakeholders to assess companies' performance in sustainability. Cemig's improvement in this rating underlines its commitment to responsible practices and increases its attractiveness for investors who prioritize ESG criteria.

**Innovation and modernization of energy distribution – a town-wide pilot**

In Brazil's smallest town, Serra da Saudade in Minas Gerais (right>), Cemig has pioneered a project that places Minas and Brazil in the vanguard of the power sector. For investment of R$7 million, this pilot project serving the whole town of 856 people integrates solar generation, battery storage, smart metering and advanced automation of the distribution system – enabling outages to be reduced

![](cig202603266k_041.jpg)

to near-zero, achieving energy autonomy for up to 48 hours in emergencies, and providing improved supply quality, while keeping voltages within regulatory levels.

Cemig in the leading sustainability indices

![](cig202603266k_042.jpg)

**Indicators** 

We have reorganized our sustainability indicators to give a more accurate reflection of Cemig's new **Materiality Matrix** (pages 6-7 of the *Cemig Sustainability Report*). The matrix classifies eight themes as material – three included in two categories, four classified as financially material, and one as material for impact.

This reorganization aims to strengthen the coherence between the indicators reported and the themes that are priority for Cemig and its stakeholders.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| Index of energy losses in the national grid (%) | 8.01 | 8.01 | 8.49 | 13.41 |
| Index of total energy losses in distribution \* | 10.49 | 11.43 | 11.42 | 11.60 |
| % of generation from renewable sources | 100 | 100 | 100 | &nbsp;&nbsp;&nbsp;&nbsp;100 |
| Cemig total reforestation. hectares | 83.52 | 0 \*\* | 0 \*\* | 0\*\* |

---

\* As from 2Q25 Aneel changed the method for this measurement. Public Hearing (CP) 09/2024 specifies the metered market, not the billed market. Values are the averages for the months of each quarter.

\*\* The reforestation figures for 2Q and 3Q are zero because Cemig plants only in the rainy season.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Renewable energy** |  |  |  |  |
|  **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
|  **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| Electricity consumption per employee (MWh) | 2.08 | 1.81 | 1.69 | 1.84 |
| I–REC (renewable-source) certificates sold | 633307 | 340652 | 151655 | 42090 |
| Cemig renewable-source RECs sold | 3342179 | 611189 | 388760 | 138661 |
| Number of smart meters installed | 14670 | 41565 | 59047 | 104366 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Water resources** |  |  |  |  |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Surface Water<br> Monitoring Management Indicator (IGMAS) (%)  | 100 | 100 | 100 | 100 |
| **Personal health and safety** |  |  |  |  |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accident frequency rate – employees + outsourced<br> (year-to-end of quarter)  | 2.63 | 3.12 | 3.02 | 2.97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of fatal or non-fatal accidents affecting<br> the public (year-to- end of quarter)  | 16 | 33 | 41 | 54 |
| **Local communities** |  |  |  |  |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allocated to the<br> Children's and Adolescents' Fund (FIA) (R$) | 820320 | 475810 | 475179 | 122768 |
| Allocated to Fund for the Aged (R$) | 820320 | 475810 | 475179 | 122768 |
| Allocated via Sports Incentive Law (R$) | 8558615 | 951621 | 950358 | 245538 |
| Allocated to culture (R$) | 27321771 | 65990411 | 10251154 | 2720081 |
| **Customer satisfaction and transparency** |  |  |  |  |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| DEC = Consumer Average Outage Duration (hours) (12-month window) | 9.44 | 9.77 | 9.34 | 8.99 |
| DEC = Consumer Average Outage Duration (hours) (12-month window) | 9.44 | 9.77 | 9.34 | 8.99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FEC = Consumer Average Outage Frequency<br> (12-month window) | 5.22 | 5.36 | 5.24 | 5.16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FEC = Consumer Average Outage Frequency<br> (12-month window) | 5.22 | 5.36 | 5.24 | 5.16 |
| **Ethical conduct and integrity** |  |  |  |  |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| **Indicators** | **1Q25** | **2Q25** | **3Q25** | **4Q25** |
| Accusations received | 344 | 376 | 224 | 293 |
| Concluded cases ruled valid or partially valid | 16 | 20 | 37 | 38 |
| Number of clients, consumers and employees significantly damaged by Privacy and Personal Data Protection-related violations | 0 | 0 | 0 | 0 |
| &nbsp;&nbsp;&nbsp;Number of independent Board members | 8 | 8 | 8 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;% of shares held by members of Boards | 0 | 0 | 0 | 0 |

---

**Performance of Cemig's shares**

---

| | | | |
|:---|:---|:---|:---|
| **Security** | **2025** | **2024** | **Change, %** |
| **Prices <sup>(2)</sup>** | **Prices <sup>(2)</sup>** | **Prices <sup>(2)</sup>** | **Prices <sup>(2)</sup>** |
| CMIG4 (PN) at the close (R$/share) | 11.2 | 9.53 | 17.51% |
| CMIG3 (ON) at the close (R$/share) | 14.7 | 13.08 | 12.43% |
| CIG (ADR for PN shares), at close (US$/share) | 2.04 | 1.59 | 28.11% |
| CIG.C (ADR for ON shares) at close (US$/share) | 2.61 | 2.32 | 12.47% |
| **Average daily trading** | **Average daily trading** | **Average daily trading** | **Average daily trading** |
| CMIG4 (PN) (R$ mn) | 127.52 | 143.11 | -10.90% |
| CMIG3 (ON) (R$ mn) | 3.24 | 3.75 | -13.55% |
| CIG (ADR for PN shares) (US$ mn) | 5.49 | 4.32 | 27.12% |
| CIG.C (ADR for ON shares) (US$ mn) | 0.01 | 0.03 | -65.39% |
| **Indices** | **Indices** | **Indices** | **Indices** |
| IEE | 123056 | 77455 | 58.87% |
| IBOV | 161125 | 120283 | 33.95% |
| CDI | 10258 | 8974 | 14.31% |
| **Indicators** | **Indicators** | **Indicators** | **Indicators** |
| Market valuation at end of period, R$ mn | 35388 | 35149 | 0.68% |
| Enterprise value (EV), R$ mn (1) | 48488 | 42668 | 13.64% |
| Dividend yield of CMIG4 (PN) (%) (3) | 14.74 | 11.96 | 2.78 p.p |
| Dividend yield of CMIG3 (ON) (%) (3) | 11.23 | 9.08 | 2.14 p.p |
| (1) EV = (Market valuation [= R$/share x number of shares]) + (consolidated Net debt). | (1) EV = (Market valuation [= R$/share x number of shares]) + (consolidated Net debt). | (1) EV = (Market valuation [= R$/share x number of shares]) + (consolidated Net debt). | (1) EV = (Market valuation [= R$/share x number of shares]) + (consolidated Net debt). |
| (2) Share prices adjusted for corporate action payments, including dividends. | (2) Share prices adjusted for corporate action payments, including dividends. | (2) Share prices adjusted for corporate action payments, including dividends. | (2) Share prices adjusted for corporate action payments, including dividends. |
| (3) (Dividends distributed in last 4 quarters) / (Share price at end of period). | (3) (Dividends distributed in last 4 quarters) / (Share price at end of period). | (3) (Dividends distributed in last 4 quarters) / (Share price at end of period). |  |

---

Cemig was the fourth most liquid company in Brazil's electricity sector, by aggregate volume of common (ON) and preferred (PN) shares traded, and among the most traded of all Brazilian equities.

The ADRs for Cemig's preferred shares (CIG) traded US$1.351 billion on the New York Stock Exchange in 2025: we see this as recognition by the investor market and reaffirmation of Cemig as a global investment option.

The benchmark Ibovespa index of the São Paulo Stock Exchange rose 33.95% in the period, while the preferred shares of Cemig (PN) rose 17.51% and the common shares (ON) rose 12.43%.

In New York the ADRs for Cemig's preferred shares rose 28.11% in the period, and the ADRS for the common shares rose 12.47%.

![](cig202603266k_043.jpg)

**Cemig's generation plants**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Plant** | **Company** | **Cemig power (MW)** | **Cemig physical guarantee (MW)** | **End of concession** | **Type** | **Cemig stake** |
| **Plant** | **Company** | **Cemig power (MW)** | **Cemig physical guarantee (MW)** | **End of concession** | **Type** | **Cemig stake** |
| Emborcação | Cemig GT | 1.192 | 475 | May 2027 | Hydro | 100% |
| Nova Ponte | Cemig GT | 510 | 257 | Aug. 2027 | Hydro | 100% |
| Três Marias | Cemig GT | 396 | 227 | Jan. 2053 | Hydro | 100% |
| Irapé | Cemig GT | 399 | 198 | Oct. 2040 | Hydro | 100% |
| Salto Grande | Cemig GT | 102 | 74 | Jan. 2053 | Hydro | 100% |
| Sá Carvalho | Sá Carvalho S.A. | 78 | 54 | Aug. 2026 | Hydro | 100% |
| Rosal | Rosal Energia S.A. | 55 | 28 | Dec. 2035 | Hydro | 100% |
| Itutinga | Cemig Ger. Itutinga | 52 | 27 | Jan. 2053 | Hydro | 100% |
| Boa Esperança | Cemig GT | 85 | 25 | Aug. 2057 | Solar | 100% |
| Camargos | Cemig Ger. Camargos | 46 | 22 | Jan. 2053 | Hydro | 100% |
| Três Marias Jusante | Cemig GT | 70 | 20 | Feb. 2058 | Solar | 100% |
| Volta do Rio | Cemig GT | 42 | 18 | Dec. 2031 | Wind | 100% |
| Poço Fundo | Cemig GT | 30 | 17 | Jun. 2052 | Small Hydro | 100% |
| Pai Joaquim | Cemig PCH S.A. | 23 | 14 | Sep. 2041 | Small Hydro | 100% |
| Piau | Cemig Ger. Sul | 18 | 14 | Jan. 2053 | Hydro | 100% |
| Praias do Parajuru | Cemig GT | 29 | 8 | Sep. 2032 | Wind | 100% |
| Gafanhoto | Cemig Ger. Oeste | 14 | 7 | Jan. 2053 | Hydro | 100% |
| Peti | Cemig Ger. Leste | 9 | 6 | Jan. 2053 | Hydro | 100% |
|  Joasal | Cemig Ger. Sul | 8 | 5 | Jan. 2053 | Hydro | 100% |
| Tronqueiras | Cemig Ger. Leste | 9 | 3 | Dec. 2046 | Hydro | 100% |
| Queimado | Cemig GT | 87 | 53 | Jun. 41 | Hydro | 82.5% |
| Belo Monte | Norte | 1313 | 534 | Jul. 2046 | Hydro | 11.69% |
| Paracambi | LightGer | 12 | 10 | Jan. 2034 | Small Hydro | 49.0% |
| Cachoeirão | Hidrelétrica Cachoeirão | 13 | 8 | Jan. 2046 | Small Hydro | 49.0% |
| Pipoca | Hidrelétrica Pipoca | 10 | 6 | Dec. 2034 | Small Hydro | 49.0% |
| Others |  | 61 | 31 |  |  |  |
| **Subtotal** |  | **4663** | **2140** |  |  |  |
| **Distributed generation** | **Distributed generation** | **MWac** | **MW** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cemig GT | Cemig GT | 14.5 | 3.6 |  | Solar | 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;Cemig Sim | Cemig Sim | 99.5 | 262 |  | Solar | 100% |
| **Subtotal** |  | **114.0** | **29.8** |  |  |  |
| **Total** |  | **4777** | **2170** |  |  |  |

---

---

| | |
|:---|:---|
| Notes: | The physical guarantees given for *Boa Esperança* and *Jusante* are those certified by a certifying company but have not been approved by Aneel. For the plants of **Cemig Sim**, the installed capacity is given in MWac, and physical guarantee has been estimated in the table as being equal to the estimated generation. |

---

Cemig Sim also sells energy from leased plants, with capacity of 320 MWp.

There are details of the expansion projects of **Cemig Sim** on the next page**.**

**Expansion of solar generation**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Project** | **Company** | **Installed capacity (MW<sub>ac</sub>)** | **Capacity (MW<sub>p</sub>)** | **Expected generation (MW<sub>average</sub>)** | **Planned operational start date** |
| &nbsp;&nbsp;&nbsp;&nbsp;Ouro Solar | &nbsp;&nbsp;&nbsp;&nbsp;Cemig Sim | 16.5 | 23.5 | 4.5 | Jan.–Aug. 2026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bloco Azul | &nbsp;&nbsp;&nbsp;&nbsp;Cemig Sim | 15.0 | 21.3 | 3.8 | Jun.–Aug 2026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Solar do Cerrado | &nbsp;&nbsp;&nbsp;&nbsp;Cemig Sim | 38.5 | 53.9 | 11.0 | Jan.–Nov. 2026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cemig GT – Sol Central | &nbsp;&nbsp;&nbsp;&nbsp;Cemig GT | 17.0 | 22.1 | 4.0 | Jul. 2026 |
| &nbsp;&nbsp;&nbsp;**Total** |  | **87.0** | **120.8** | **23.3** |  |

---

**RAP: July 2025–June 2026 cycle**

The values of RAP for the 2025–2026 cycle came into effect in July 2025, including the effects for Cemig of the remeasurement of the national grid ('RBSE') financial component, as defined by Aneel.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ANEEL RATIFYING RESOLUTION (ReH) 3381/2025 (2025–2026 cycle)** | **ANEEL RATIFYING RESOLUTION (ReH) 3381/2025 (2025–2026 cycle)** | **ANEEL RATIFYING RESOLUTION (ReH) 3381/2025 (2025–2026 cycle)** | **ANEEL RATIFYING RESOLUTION (ReH) 3381/2025 (2025–2026 cycle)** | **ANEEL RATIFYING RESOLUTION (ReH) 3381/2025 (2025–2026 cycle)** |
| **R$ '000** | **RAP** | **Adjustment component** | **Total** | **Expiration** |
| **Cemig** | **1245408** | **60207** | **1305615** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cemig GT | 1164296 | 62435 | 1226731 | Dec. 2042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cemig Itajubá | 52484 | –1061 | 51423 | Oct. 2030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Centroeste | 16078 | –1017 | 15061 | Mar. 2035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sete Lagoas | 12550 | –150 | 12401 | Jun. 2041 |
| **Taesa** **(Cemig stake: 21.68%)** | **956249** | **-35288** | **920961** |  |
| **TOTAL RAP** |  |  | **2226576** |  |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RBSE\* COMPENSATION at June 2025 prices (excluding taxes, etc.)** | **RBSE\* COMPENSATION at June 2025 prices (excluding taxes, etc.)** | **RBSE\* COMPENSATION at June 2025 prices (excluding taxes, etc.)** | **RBSE\* COMPENSATION at June 2025 prices (excluding taxes, etc.)** | **RBSE\* COMPENSATION at June 2025 prices (excluding taxes, etc.)** | **RBSE\* COMPENSATION at June 2025 prices (excluding taxes, etc.)** |
| **R$ '000 – by cycle** | **2025-2026** | **2026-2027** | **2027-2028** | **2028-2029** | **2029-2033** |
| Economic | 112434 | 112434 | 112434 | 35253 | 35253 |
| Financial | 298669 | 298669 | 298669 | - | - |
| **Total** | **411102** | **411102** | **411102** | **35253** | **35253** |
| \* The figures for indemnity/reimbursement of National Grid components are included in the RAP of Cemig (first table). | \* The figures for indemnity/reimbursement of National Grid components are included in the RAP of Cemig (first table). | \* The figures for indemnity/reimbursement of National Grid components are included in the RAP of Cemig (first table). | \* The figures for indemnity/reimbursement of National Grid components are included in the RAP of Cemig (first table). | \* The figures for indemnity/reimbursement of National Grid components are included in the RAP of Cemig (first table). | \* The figures for indemnity/reimbursement of National Grid components are included in the RAP of Cemig (first table). |

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Cemig currently has approval (REA) for large-scale strengthening and enhancement works, for total capex of R$1,158.1 million, and for investments of R$231.3 million related to Lot 1 of Auction 02/2022 (completion of works planned for 2028). Note: The 2025 operational start date forecast refers to works already completed, but which had not entered the RAP in the tariff adjustment in force from July 2025.

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| | | |
|:---|:---|:---|
| **Planned operational start date** | **Capex (R$ '000)** | **RAP (R$ '000)** |
| 2025 | 141292 | 22483 |
| 2026 | 478422 | 76916 |
| 2027 | 391092 | 65088 |
| 2028 | 309186 | 32233 |
| 2029 | 69452 | 11522 |
| **Total** | **1319992** | **196705** |

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**Transmission: Regulatory Revenue and Ebitda**

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| | | | | |
|:---|:---|:---|:---|:---|
| **Transmission: Regulatory Profit – 4Q25** | **Transmission: Regulatory Profit – 4Q25** | **Transmission: Regulatory Profit – 4Q25** | **Transmission: Regulatory Profit – 4Q25** | **Transmission: Regulatory Profit – 4Q25** |
| **R$ '000** | **Cemig GT** | **Centroeste** | **Sete Lagoas** | **Total** |
| Revenue from Transmission operations | 442785 | 3823 | 3488 | 450096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxes on revenue | -39474 | -140 | -323 | -39937 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sector charges | -77144 | -215 | -139 | -77498 |
| **Net revenue** | **326167** | **3468** | **3026** | **332661** |
| **Regulatory Net profit** | **243887** | **3519** | **1281** | **248687** |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax and Social Contribution tax | 10328 | 159 | 657 | 11144 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net finance income (expenses) | 1195 | -217 | -511 | 11222 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 46338 | 376 | 888 | 47602 |
| **Regulatory Ebitda** | **312503** | **3837** | **2315** | **318655** |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Transmission: Regulatory Profit – 4Q24** | **Transmission: Regulatory Profit – 4Q24** | **Transmission: Regulatory Profit – 4Q24** | **Transmission: Regulatory Profit – 4Q24** | **Transmission: Regulatory Profit – 4Q24** |
| **R$ '000** | **Cemig GT** | **Centroeste** | **Sete Lagoas** | **Total** |
| Revenue from transmission operations | 416976 | 6219 | 1927 | 425122 |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxes on revenue | -39662 | -227 | -179 | -40068 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sector charges | -74541 | -236 | -120 | -74897 |
| **Net revenue** | **302773** | **5756** | **1628** | **310157** |
| **Regulatory net profit** | **26922** | **4728** | **813** | **32463** |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax and Social Contribution tax | 108193 | 279 | 135 | 108607 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net finance income (expenses) | 57115 | -269 | -469 | 56377 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 53534 | 372 | 542 | 54448 |
| **Regulatory Ebitda** | **245764** | **511** | **1021** | **251895** |

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**Complementary information**

Profit and loss account spreadsheets at this link: Results Center \| Cemig Ri

**Disclaimer**

Certain statements and estimates in this material may represent expectations about future events or results which are subject to risks and uncertainties that may be known or unknown. There is no guarantee that events or results will occur as referred to in these expectations.

These expectations are based on present assumptions and analyses from the point of view of the Company's management, in accordance with their experience and other factors such as the macroeconomic environment, market conditions in the electricity sector, and expected future results, many of which are not under our control.

Important factors that could lead to significant differences between actual results and the projections about future events or results include: Cemig's business strategy, Brazilian and international economic conditions, technology, our financial strategy, changes in the electricity sector, hydrological conditions, conditions in the financial and energy markets, uncertainty on our results from future operations, plans and objectives; and other factors. Due to these and other factors, our results may differ significantly from those indicated in or implied by such statements.

The information and opinions herein should not be understood as a recommendation to potential investors, and no investment decision should be based on the veracity, currentness or completeness of this information or these opinions. None of our staff nor any party related to any of them or their representatives shall have any responsibility for any losses that may arise as a result of use of the content of this presentation.

To evaluate the risks and uncertainties as they relate to Cemig, and to obtain additional information about factors that could give rise to different results from those estimated by Cemig, please consult the section on Risk Factors included in the *Reference Form* filed with the Brazilian Securities Commission (CVM), and in the *20-F Form* filed with the US Securities and Exchange Commission (SEC).

Financial amounts are in **R$ million (R$ mn)** unless otherwise indicated. Financial data reflect the adoption of **IFRS.**

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