1. EDP Energias do Brasil
Novembro de 2009

2. Disclaimer
This presentation may include forward-looking statements of future events or results according to regulations of the
Brazilian and international securities and exchange commissions. These statements are based on certain assumptions
and analysis by the company that reflect its experience, the economic environment and future market conditions and
expected events, many of which are beyond the control of the company. Important factors that may lead to significant
differences between the actual results and the statements of expectations about future events or results include the
company’s business strategy, Brazilian and international economic conditions, technology, financial strategy, public
service industry developments, hydrological conditions, financial market conditions, uncertainty of the results of future
operations, plans, objectives, expectations and intentions, among others. Considering these factors, the actual results
of the company may be significantly different from those shown or implicit in the statement of expectations about future
events or results.
The information and opinions contained in this presentation should not be understood as a recommendation to potential
investors and no investment decision is to be based on the veracity, current events or completeness of this information
or these opinions. No advisors to the company or parties related to them or their representatives shall have any
responsibility for whatever losses that may result from the use or contents of this presentation.
This material includes forward-looking statements subject to risks and uncertainties, which are based on current
expectations and projections about future events and trends that may affect the company’s business. These statements
include projections of economic growth and energy demand and supply, as well as information about the competitive
position, the regulatory environment, potential opportunities for growth and other matters. Several factors may
adversely affect the estimates and assumptions on which these statements are based.
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2

3. EDP: Successful Story in the Brazilian Power Sector
Generation Distribution Commercialization
Consolidated
Net Revenue
2008¹ 791 3,955 773 4,904
(R$ million)
Adjusted EBITDA
2008¹ 570 801 51 1,363
(R$ million)
Participation in
40% 56% 4% 100%
EBITDA 2008¹
5th largest private 4th largest private 3rd largest private
generator by installed distributor in the trading company in
capacity Brazilian power sector the Brazilian power
in terms of energy sector in terms of
Important partnership
sold electricity traded
with EDP Renováveis –
4th largest operator of
wind generation projects
in the world
3
Source: Emerging Energy Consulting and CCEE reports. Note: (1) Segment values in Reais and percentages do not consider intra-group eliminations.

4. Power Sector in Brazil: a Growth Story
Power Consumption (Total Market) Power Consumption (Free Market)
(GWh) (GWh)
% Total
2004 – 2008 CAGR: 5.2% 22% 21% 24% 24% 26%
Market:
392.8 2004 – 2008 CAGR: 10.0%
378.4 102.1
334.6 348.3 92.5
320.8 85.6
69.8 69.5
2004 2005 2006 2007 2008 2004 2005 2006 2007 2008
Source: EPE. Source: EPE.
Generation Installed Capacity - Brazil Installed Capacity by Generation Source (2009)
(GW)
CAGR: 89-99: 2.7% 99-09: 4.5% 09-16: 4.6% 1999 = 68.2 GW 2009 = 105.5 GW
Nuclear Nuclear Wind
144.8 1.0% 1.9% 0.5%
Thermal
12.5% Thermal
105.5 23.5%
68.2
52.1 Hydro electric
86.5%
Hydro electric
74.1 %
1989 1999 2009¹ 2016 Projection
MME² 4
Source: ANEEL. Note: (1) As of September, 2009; (2) According to a ten-year expansion Source: ANEEL and EPE.
plan approved by the MME in 2008.

5. EDP History in Brazil
In 1997, EDP initiated investments that resulted today in the EDP - Energias do Brasil platform. The
company executed on its strategy for international expansion and participated actively in the
privatization process for distribution companies and public tenders for generation projects in Brazil.
Generation and Trading
SHPs São João
Investment in and Santa Fé Creation of EDPR
Lajeado 4th turbine of
Acquisition of Peixe Angical initiated BR and
Mascarenhas
(partnership with Furnas) operations acquisition of
initiated operation
CENAEEL
A-5 auction
TPP Pecém
1997 - 2002 2003 - 2004 2005 - 2009
Distribution
Acquisition of Acquisition of Received
Bandeirante control of Asset swap Investment
Escelsa and (Enersul for Grade from
Acquisition of Iven Enersul Lajeado)
(Escelsa and Enersul) Moody´s
Creation
Corporate IPO
Group
of EDP
reorganization and
Brasil Unbundling of
Spin-off of new governance
model of the Group distribution and
Bandeirante
generation activities 5

6. Corporate Governance, Social and Environmental Responsibility
Independent Controlling
Audit Committee Independent
President Shareholder
Sustainability and
Independent Controlling
Corporate Governance Independent
President Shareholder
Board of Directors Committee
8 members
(4 independent)
Compensation Chairman of the Controlling
Independent
Committee Board of Directors Shareholder
Code of Ethics EDP Institute
Social, cultural and environmental activities
Transparency
Policy of minimum dividend payment of 50% of net income
6

7. Distribution Companies in Attractive Areas
Strong concentration in the residential and industrial segments, covering 98 cities, being 28 in São Paulo and 70 in
Espírito Santo
Attractive growth profile
2.6 million clients (total concession area with a population of approx. 8 million)
Total concession area of 50.9 thousand km2
Energy Distributed
by Segment
• Located in São Paulo, main economic center of Brazil with Residential
Free 23%
high industrial concentration Customers
35%
1st economy of the country with ~33% of national GDP Industrial
Others 22%
1.4 million clients in a total area of 9.6 thousand km2 7% Commercial
13%
Concession period: 30 years, until 2028
Free Residential
• Located in Espírito Santo, an exporter-centric state with 22%
Customers
strong economic activity: 32% Industrial
11th largest economy in the country with 2.3% of 12%
national GDP Others Commercial
20% 14%
1.1 million clients in a total area of 41.2 thousand km2
Concession period: 30 years, until 2025 7

8. Distribution Companies with Diversified Client Base
Energy Sold by Segment (Captive Clients)1
(MWh)
Others²
13,298 15%
12,610 13,226
12,137
1,939 2,024 2,029 Others Residential
1,834
35%
2,523 2,642 2,736 Commercial
2,342
4,156 3,908 Industrial Commercial
4,052 4,018
21%
3,908 4,130 4,402 4,626 Residential
2006 2007 2008 LTM³
Industrial
29%
Energy Losses Tariffs / Adjustments
BANDEIRANTE ANEEL TARGET ESCELSA Bandeirante 20074 2008 2009
14.2% 14.7%
12.3% Tariff Adjustment - % -13.46 14.48 5.46
10.4% 5.6% 5.9%
10.9% 1 .0%
1 Next Tariff Revision Oct 11
5.1%
5.4%
5.7% 5.9%
Escelsa 20074 2008 2009
8.7% 8.8%
7.2% Tariff Adjustment - % -2.16 12.17 15.12
5.2% 5.1% 5.0%
Next Tariff Revision Aug 10
3Q08 3Q09 Bandeirante Escelsa 3Q08 3Q09
Notes: (1) Data refers only to Bandeirante and Escelsa; (2) Others include: rural, public power, public illumination and public service; (3) Last 12 months, as of September 2009; (4) 8
Tariff revision.

9. Significant Generation Business
EDP - Energias do Brasil installed capacity increased by more than three times since the IPO (from 530MW to 1,731MW in
2009)1.
HPP Lajeado HPP Peixe Angical
902.5 MW 452 MW
Concession: 2032 Concession: 2036
Pantanal Energética CESA
52.2 MW 61.9 MW
Concession: 2029 Concession: until 2025
Costa Rica SHP Santa Fé
16 MW 29.0 MW
Concession: until 2031 Concession: 2031
CENAEEL Energest
6.2 MW2 212.1 MW
Concession: 2032 Concession: until 2025
9
Note: (1) 100% supported by PPAs; (2) Represents EDP’s proportional stake.

10. Attractive Generation Projects
Projects Under Construction and Near Term Development Development Pipeline
Under Construction: Thermal coal-fired – Pecém
360 MW(1) Small and Medium Hydro Plants (SHPs) 500 MW
Auction A-5 from 2007
Start Year 2012
Wind farms
240 MW(1)
Ownership: 55% EDPR / 45% EDP Energias do Brasil
Installed Capacity 720 MW (615 average MW)
Ownership 50% EDP / 50% MPX
Thermal Gas-Fired Combined-Cycle Plant - RJ 500 MW
Financing 75% Debt / 25% Equity
BNDES R$1.4 billion approved
R$700 million disbursed Total 1,240 MW
Tenor: 17 years
IDB US$327 million approved
US$260 million disbursed
Tenor: 13 and 17 years
Near-term Development: Wind farm
31.5MW(1)
Wind farm in Rio Grande do Sul
Ownership
55% EDPR / 45% EDP Energias do Brasil
10
Note: (1) Represents EDP’s proportional stake.

11. Main Accomplishments
and Strategy

12. Our Accomplishments Since the 2005 IPO
1 Installed capacity
1 1,731
(MW) +227%
Expand generation business
530
− Installed capacity increased by 227%
2004 Current
2
2 Distribution productivity
Results (2004 vs Current)
Results (2004 vs Current)
(clients/employee)¹
Improve operating efficiency 1,294
Our Commitments
927
− Productivity increased by 40%
2004 Current
3
3 12-month energy sold
(GWh) +68%
Develop trading business 8,164
− Traded energy increased by 68% 4,849
2004 Current
4
4 Ranking among private capital companies
Consolidate position in the Brazilian power
sector Trading Business 3rd
− Distinguished position in several rankings
Distributed Energy 4th
Installed Capacity 5th 12
Note: (1) Data refers to Bandeirante and Escelsa.

13. Expansion of Generation Business
Growth in Installed Capacity
(MW)
6 29 25 360
2009 2009 2011
2009
653 and
50 25 2010
2,116
2008 1,731
452 Expectation of New
1,043 Operation
516
2
2005 HPP Peixe 4th turbine SHP São 2007 Additional Cenaeel SHP Santa 2009 Power TPP Pecém 2011
Angical Mascarenhas João Capac. Fé Upgrades
Lajeado
Generation Investments Energy Sold from Generation Plants
(GWh)
Pre-IPO (1997 - 2004) 2006 – LTM CAGR: +19%
Cumulative Investment: R$1.3 billion 7,660
6,411
5,568
Post-IPO (2005 - Current) 4,758
Cumulative Investment: R$2.0 billion
Asset Swap: Exchange stake in Enersul to increase direct
and indirect stake in UHE Lajeado
− Investment: R$753 million
2006 2007 2008 LTM¹ 13
Note: (1) Last 12 months, as of September 2009. (2) UTE Pecém will be finished in 2011, and will start to operate in the beginning of 2012.

14. Improvement in Operational Efficiency
Productivity – Distribution Productivity – Distribution
(Clients - thousands / Employee) (GWh Distributed / Employee)
1.34 12.24
1.06 1.11 10.14
8.20
0.80
5.83
Bandeirante Escelsa Bandeirante Escelsa
2004 Current 2004 Current
Manageable Costs Evolution1 (Opex) Project “Vencer”
(R$ million, Bandeirante + Escelsa)
Inflation in the period (06 – Sep/09): 17.8%%
Initiated in the first quarter of 2009
45.0% 46.1% Main accomplishments:
43.2% 42.7% 41.7%
700 730 Reduction of organizational layers from 5 to 3
681
47 88 50
165 158 500 525 40% reduction in number of managerial positions
165
38 54
123 125 Reduction in the average age of managerial positions
489 484 466 Reduction in personnel expenses
339 346
2006 2007 2008 9M08 9M09
Opex D&A Provision % Gross Margin 14
Note: (1) Manageable costs include: personnel, material, third-party services, provisions, depreciation and amortization costs for distribution companies Bandeirante and Escelsa.

15. Development of Trading Business
Energy Traded
(GWh)
2005 – LTM CAGR: +7%
8,164
7,188 7,282
6,379 6,702
60% 3,812 7,461 91%
5,509 6,374 6,527
2008 Energy Consumption
40% 2,567
1,193 814 755 703 9%
Free Market
2005 2006 2007 2008 LTM¹ 26%
Intra-Grup Third Parties
Net Operating Revenue - Trading Business
(R$ million)
2005 – LTM CAGR: +18%
773 796
618 Captive
Market
495
431 74%
2005 2006 2007 2008 LTM¹ 15
Note: (1) Last 12 months, as of September 2009.

16. Consistent Track Record of Dividend Payments
Since the IPO, in 2005, EDP distributed to its shareholders R$765 million and:
At the same time, EDP - Energias do Brasil invested approximately R$4.2 billion in CAPEX
Company leverage ratio remains at a comfortable level (1.9x Net Debt / LTM EBITDA)
Dividends/Interest on Equity since IPO Payout since IPO
(R$ / Share) (% Net Income)
67.5%
2005 – 2008 CAGR: +22%
1.66
50.0% EDP
46.5%
1.26
40.0% Policy
1.03
0.92
2005 2006 2007 2008 2005 2006 2007 2008
Dividend Policy: Minimum of 50% of Adjusted Net Income
16
Source: Company, BOVESPA and Bloomberg.

17. Solid Growth Strategy
Decision Making Rules:
1. Control of the asset acquired or developed
2. Rate of return above the cost of capital
3. To maintain an adequate risk profile and debt level
Generation • Continue to develop growth opportunities in the generation business, focused on:
Business
Expansion ― New projects with adequate rate of return
Besides Pecém (360 MW) under construction, there are 1,240 MW in
generation projects currently being studied
― Partnerships with other companies, with EDP retaining control
Focus on partners with complementary experience, with the objective of
minimizing risk and maximizing probability of success
― Acquire established generation assets
• Capture growth in the free market
Continue to
• Optimize risk management in the integrated generation and distribution business
Develop the
Trading Business • Provide value-added energy solutions
– Strategy to attract and retain clients
17

18. Solid Growth Strategy
Maintain • Organic Growth
Investments in
Distribution – Bandeirante: 11.2% growth in GWh over the 2004-2008 period
– Escelsa: 20.5% growth in GWh over the 2004-2008 period
• Maximize operational efficiency
• Pro-active management of the regulatory process
Consolidate
Position in the
Brazilian Power • EDP is prepared to capture consolidation opportunities to leverage the company's
Market strategy in its different segments
• Consistent criteria for minimum return required and management of integration risk
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19. Financial Highlights

20. Financial Highlights – EDP Consolidated
Net Revenue EBITDA and EBITDA Margin
(R$ million) (R$ million, %)
30.3% 30.7%
26.9% 27.8%
4,904 24.8%
4,528
3,985
1,363
3,492 3,416
1,074 1,123 1,057 1,049
2006 2007 2008 9M08 9M09 2006 2007 2008 9M08 9M09
EBITDA Breakdown – 9M09 Net Income
(%) (R$ million)
Trading
2%
450 450
394 389
288
Distribution Generation
50% 48%
1 1 2
2006 2007 2008 9M08 9M09 20
Note: (1) Includes R$129 mm impact from goodwill amortization; (2) Includes R$120 mm from the sale of ESC 90.

21. Comfortable Debt Profile
Adequate debt management of EDP - Energias do Brasil prompted a rating upgrade by Moody’s in 2009; EDP holding is
rated Ba1 – stable on a global scale, whereas Bandeirante and Escelsa are rated Baa3 - stable
Net Debt1 and Net Debt / EBITDA² Total Debt Breakdown (Sep - 2009)
(R$ million) (%)
2.4x 1.9x 1.9x 1.9x Fixed Rate
US$
4%
5%
2,562 2,546 2,518
2,093
TJLP CDI
37% 54%
Dec-06 Dec-07 Dec-08 Sep-09
Debt Amortization Schedule³ Approved Credit Lines
(R$ million) (R$ million)
Pecém Tenor
Availability
Instrument Approved – up to
Through
(years
610 BNDES 900 2013 10
622 BNDES – IDB
2,000 2011 17
(Porto Pecém)
175 260
763 757 BEI 270 2010 10
457 255 479 353
107 BNDES
76 2009 14
(SHP Santa Fé)
Adjusted 2009 2010 2011 2012 After
Cash 2012 Total 3,246
Note: (1) Net debt = gross debt – cash and cash equivalents; (2) LTM EBITDA; (3) Consider principal, interest and hedge operations. 21