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: /s/ Andrea Marques de Almeida . Name: Andrea Marques de Almeida

Title: Vice President of Finance and Investor Relations

Date: September 9, 2026

Noticer to Shareholders – First payout installment, dated June 10, 2026

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

First payout installment

We hereby inform our shareholders that CEMIG will pay the first payout installment related to fiscal year 2025 on June 30, 2026, as follows:

Payout	Approval Date	Date “with rights”	Date “ex-rights”	Per common/preferred share (R$)	Amount Total (R$ thousand)


Dividends	04/30/2026	04/30/2026	05/04/2026	0.118177943	338,069
IoE	12/18/2025	12/23/2025	12/26/2025	0.118401316	338,709
IoE	09/23/2025	09/29/2025	09/30/2025	0.105698051	302,368
IoE	06/17/2025	06/23/2025	06/24/2025	0.104303454	298,379
IoE	03/20/2025	03/25/2025	03/26/2025	0.094558924	270,503
TOTAL				0.541139687	1,548,028

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.

Pursuant to Law 15,270/2025, individual shareholders residing in Brazil who receive dividends exceeding R$50,000.00 (fifty thousand reais) in the same calendar month, paid by the same legal entity, will be subject to withholding income tax at a rate of 10% on the total amount received, considering, for purposes of this threshold, the aggregate amount of all dividends paid during the respective month.

Under the same Law, profits and dividends paid, credited, or remitted to beneficiaries residing outside Brazil will be subject to withholding income tax at a rate of 10%, regardless of the amount received.

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, June 10, 2026.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

Notice to the Market – UN Global Compact's 100% Transparency Movement, dated June 12, 2026

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

UN Global Compact's 100% Transparency Movement

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 that it has achieved, ahead of schedule, all targets established by the 100% Transparency Movement ("Movement"), an initiative of the United Nations ("UN") Global Compact aimed at strengthening transparency, corporate ethics, and business integrity.

CEMIG joined the Movement in November 2023 and fully completed, in 2026, all commitments scheduled for implementation by 2030, demonstrating the Company's alignment with national and international best practices in corporate governance and compliance.

The Movement's targets cover matters related to transparency in relations with public authorities, disclosure and strengthening of whistleblowing channels, integrity in senior management compensation, ethics and anti-corruption training for strategic stakeholders, and transparency regarding governance and compliance structures.

In recognition of this achievement, CEMIG was honored during the Ambition 2030 Forum, held on June 02, 2026, in São Paulo. Among the 68 companies participating in the 100% Transparency Movement, only CEMIG and one other company fully met all targets established for 2030.

This achievement reinforces the Company's commitment to ethics, transparency, and integrity — pillars that contribute to sustainable value creation and strengthen the trust of investors, customers, partners, employees, and society as a whole.

Belo Horizonte, June 12, 2026.

Leonardo George de Magalhães

Vice President of Finance and Investor Relations

Material Fact — Executive Board’s New Composition, dated June 12, 2026

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

MATERIAL FACT

Executive Board’s New Composition

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, pursuant to CVM Resolution 44/2021, hereby informs its shareholders and the market in general that, on June 11, 2026, the Company’s Board of Directors approved the appointment of new Vice Presidents:

VICE PRESIDENT OF FINANCE AND INVESTOR RELATIONS

Leonardo George Magalhães

Leonardo holds a bachelor’s degree in Accounting and has completed specialization courses in finance, management, strategy, and leadership from Brazilian and international institutions. He served as Cemig’s Vice President of Finance and Investor Relations from 2020 to 2024 and as President of Forluz from 2024 to 2026. He has more than 20 years of experience in leadership positions in the financial sector and has also served on Boards of Directors.

VICE PRESIDENT OF GENERATION AND TRANSMISSION

Demétrio Alexandre Ferreira

Demétrio holds a bachelor’s degree in Mechanical Engineering, an MBA in Business Management from FGV, and executive leadership training. He has 38 years of experience in the Brazilian electricity sector, including 31 years dedicated to the operation and maintenance of renewable generation assets. He built his professional career at Cemig, where he held several technical and managerial positions, including Superintendent of Generation Assets from 2019 to 2023.

VICE PRESIDENT OF DISTRIBUTION

Ernando Antunes Braga

Ernando holds degrees in Electrical Engineering and Occupational Safety Engineering, as well as a postgraduate degree in Electrical Power Systems from UFMG. He has 37 years of experience in the electric power sector and has built a solid career at Cemig, where he served primarily as Superintendent in the Distribution area. He stands out for his strategic expertise in planning, customer relations, performance management, operational efficiency, team leadership, and crisis management.

The Company also announces the new composition of its Executive Board as of June 11, 2026:

Executive Board
Position	Name
CEO	Alexandre Ramos Peixoto
Vice President of Finance and Investor Relations	Leonardo George de Magalhães
Vice President of Legal Affairs	Sérgio Pessoa de Paula Castro
Vice President of Distribution	Ernando Antunes Braga
Vice President of Generation and Transmission	Demétrio Alexandre Ferreira
Vice President of Trade	Sérgio Lopes Cabral
Vice President of Information Technology	Luis Cláudio Correa Villani
Vice President of Institutional Relations	Marcos Montes Cordeiro

Belo Horizonte, June 12, 2026.

Leonardo George de Magalhães

Vice President of Finance and Investor Relations

Notice to Shareholders – Declaration of Interest on Equity, dated June 18, 2026

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 today the declaration of Interest on Equity (IoE) of R$630,509,000 (six hundred and thirty million, five hundred and nine thousand reais). Detailed information about the payment is as follows:

IoE
Gross amount per share	R$0.22040514318
Date “with rights” (¹)	06/23/2026
Date “ex-rights”	06/24/2026
Payment date	2 (two) equal installments: · the first by 06/30/2027 and · the second by 12/30/2027

⁽¹⁾

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 update of their registration data.

Belo Horizonte, June 18, 2026.

Leonardo George de Magalhães

Vice President of Finance and Investor Relations

2Q2026 Earnings Release

Quarter Highlights

2Q26 RESULTS

•

Robust cash generation

EBITDA: R$2.24 billion and Adjusted EBITDA: R$2.47 billion

•

Net income: R$945 million and Adjusted net income: R$1.12 billion

DISTRIBUTION

•

19.0% growth in EBITDA, driven by the positive impact of the tariff adjustment effective as of May 28, 2026, lower post-employment expenses, and strong performance in energy losses, offset by a decline in the billed market volume

Energy distributed excluding DG: -1.6% (Captive: -3.9% / Free Market: +0.4%)

Energy distributed, including DG: +1.2%

•

Revision of the methodology for calculating expected credit losses (ECL) with a positive impact of R$232.2 million in 2Q26

•

OPEX and EBITDA exceeded regulatory targets in 1H26 by R$416 million and R$666 million, respectively

•

Energy losses: 11.40%, below the regulatory limit of 11.48%

•

DEC showing continuous improvement: 8.43 in Jun/26 vs. 8.75 in Mar/26

POST-EMPLOYMENT

•

R$80.3 million reduction in adjusted post-employment expenses, due to the end of the obligation related to the healthcare plan, effective as of the agreement ratified by the Regional Labor Court (TRT) at the end of 2025

TRADING

•

A decrease of R$383.4 million in EBITDA and R$192.1 million in adjusted EBITDA from the trading business

Exposure to higher prices when purchasing energy to close out positions in 2Q26

Provision of $190.6 million arising from an arbitral award in proceedings brought by a customer, plus an additional R$26.2 million impact from the financial update impact related to this provision

CAPITAL ALLOCATION

•

Capex of R$3.28 billion in 1H26 (up 19.2% from 1H25), with a focus on regulated businesses

Distribution: R$2.64 billion; 11 new substations and 3 expanded ones, addition of 1,886 km of low- and medium-voltage networks

Transmission: R$275.2 million; with R$36.2 million in RAP added

• Cemig Sim: acquisition of 11 solar PV plants in 2Q26, totaling 26.2 MWp of installed capacity, for R$155 million

DEBT MANAGEMENT

•

Total funds of R$4.61 billion were raised in the quarter

Cemig D: 15^th debenture issue – R$1.15 billion and Loan – US$280 million (both in April 2026)

Cemig GT: 12^th debenture issue – R$2.0 billion in June 2026

•

Leverage of 2.58x (net debt / adjusted EBITDA)

•

Extension of maturities: 81% of debt maturing in 2029 or later, following the disco’s tariff review

SHAREHOLDER REMUNERATION

Interest on Capital declared in June: R$630.5 million

DOW JONES BEST IN CLASS INDEX

Cemig was selected to be included in the index portfolio for the 26th consecutive time since the index’s inception.


	2

Financial and Operating Indicators

Operating Highlights	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change
Distributed Energy (MWh)	13,487,648	13,331,108	1.2%	13,454,458	0.2%
Total captive market	5,328,565	5,542,849	-3.9%	5,324,493	0.1%
Total transport free-market clients	6,310,760	6,283,041	0.4%	6,284,468	0.4%
DG2 and DG3 offset	296,170	164,808	79.7%	280,999	5.4%
DG1 offset	1,552,154	1,340,410	15.8%	1,564,498	-0.8%
Energy sold GT + Holding (MWh)*	10,916,837	11,243,037	-2.9%	10,653,535	2.5%
Total distributed gas volume (thousand m³)	229,845	276,986	-17.0%	244,498	-6.0%

Financial Highlights (R$ million)	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change
Net operating revenue	11,156.2	10,786.3	3.4%	10,462.5	6.6%
PMSO**	1,352.5	1,236.0	9.4%	1,221.1	10.8%
EBITDA	2,239.3	2,059.1	8.8%	1,788.7	25.2%
Adjusted EBITDA	2,472.4	2,261.5	9.3%	1,788.2	38.3%
EBITDA Margin	20.1%	19.1%	1.0 p.p.	17.1%	3.0 p.p.
Financial result	(795.9)	(312.6)	154.6%	(338.4)	135.2%
Net Income	945.4	1,188.3	-20.4%	979.0	-3.4%
Adjusted Net Income	1,116.5	1,321.9	-15.5%	979.0	14.0%
Investments	1,805.3	1,544.0	16.9%	1,476.7	22.3%

Net Debt	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change
Net debt	19,358.1	12,228.6	58.3%	17,844.0	8.5%
Net debt/adjusted EBITDA	2.58x	1.59x	0.99x	2.45x	0.13x

*Excluding energy settled at the Brazilian Electric Energy Trading Chamber (CCEE)

** Including post-employment expenses

Financial statements and spreadsheets are available at the following link:

Results Center | Cemig IR


	3

Table of Contents

Quarter Highlights	2
Financial and Operating Indicators	3
EBITDA and Net Income per Company for the Quarter	5
Income Statement	6
Income Statement by Segment	7
Consolidated Energy Market	8
Performance by Company	9
Cemig D	9
Cemig GT/Holding	16
Gasmig	18
Consolidated Financial Performance	19
Operating Revenue	19
Operating Costs and Expenses	21
Equity Income	24
Consolidated EBITDA	25
Cemig D EBITDA	27
Cemig GT EBITDA	28
Financial Income and Expenses	29
Net Income	29
Investments	30
Capex	30
Consolidated Debt	31
Evolution of Cemig’s Credit Ratings	32
ESG – Performance Report	33
Corporate Highlights	34
Share Performance	37
Power Plants	38
Expansion in Photovoltaic Generation	39
RAP – July 2026 to June 2027 Cycle	39
Revenue and Regulatory EBITDA from Transmission	40
Supplementary Information	40
Disclaimer	41


	4

EBITDA and Net Income per Company for the Quarter

	EBITDA (IFRS)					Adjusted EBITDA
EBITDA (IFRS) - (R$ mn)	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change
Cemig D	1,476.8	1,241.0	19.0%	1,010.4	46.2%	1,508.3	1,245.6	21.1%	1,010.4	49.3%
Cemig GT	479.7	415.1	15.6%	575.6	-16.7%	678.6	613.2	10.7%	575.6	17.9%
Gasmig	205.9	243.5	-15.4%	192.7	6.8%	205.9	243.5	-15.4%	192.7	6.8%
Other	76.9	159.5	-51.8%	9.9	677.7%	79.6	159.2	-50.0%	9.5	741.6%
Consolidated	2,239.3	2,059.1	8.8%	1,788.7	25.2%	2,472.4	2,261.5	9.3%	1,788.2	38.3%
VNR	79.7	26.6	199.4%	65.3	22.1%	79.7	26.6	199.4%	65.3	22.1%
Equity Income	91.4	77.4	18.0%	52.3	74.6%	91.4	77.4	18.0%	52.3	74.6%
Regulatory/IFRS difference from Transco	(23.8)	295.3	-	93.7	-	(26.4)	(96.7)	-72.7%	93.7	-
Consolidated (-) VNR and equity income (+) regulatory/IFRS difference from Transco	2,044.4	2,250.3	-9.1%	1,765.7	15.8%	2,274.9	2,060.8	10.4%	1,764.7	28.9%

	Net Income (IFRS)					Adjusted Net Income
R$ million	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change
Cemig D	483.1	550.6	-12.2%	397.7	21.5%	504.0	553.6	-9.0%	397.7	26.7%
Cemig GT	269.6	342.1	-21.2%	392.7	-31.4%	418.1	472.9	-11.6%	392.7	6.5%
Gasmig	95.9	150.8	-36.4%	100.6	-4.7%	95.9	150.8	-36.4%	100.6	-4.7%
Other	96.8	144.8	-33.1%	88.0	10.0%	98.9	145.0	-31.8%	88.0	12.3%
Consolidated	945.4	1,188.3	-20.4%	979.0	-3.4%	1,116.8	1,322.3	-15.5%	979.0	14.1%

* Additional details on regulatory transmission results are provided in the section “Revenue and Regulatory EBITDA from Transmission”


	5

Income Statement

R$ million	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change
NET REVENUE	11,156	10,786	3.4%	10,463	6.6%
COSTS	(9,204)	(8,587)	7.2%	(8,750)	5.2%
Electricity and gas costs	(5,814)	(5,809)	0.1%	(5,847)	-0.6%
Infrastructure construction costs	(1,753)	(1,463)	19.8%	(1,482)	18.3%
Operating costs	(1,637)	(1,314)	24.6%	(1,421)	15.2%
GROSS PROFIT	1,952	2,200	-11.3%	1,712	14.0%
OTHER REVENUES AND EXPENSES	(123)	(509)	-75.9%	(325)	-62.2%
Expected credit losses	177	(3)	-	(83)	-
General and administrative expenses	(230)	(178)	29.4%	(202)	13.8%
Other expenses	(161)	(406)	-60.2%	(118)	36.9%
Other revenue	-	-	-	26	-
Equity income	91	77	18.0%	52	75.7%
Income before financial results and income taxes	1,829	1,691	8.2%	1,387	31.9%
Financial income	290	302	-4.1%	258	12.5%
Financial expenses	(1,086)	(615)	76.6%	(596)	82.2%
Net financial results	(796)	(313)	154.6%	(338)	135.5%
Income before income tax and social contribution	1,033	1,378	-25.0%	1,049	-1.5%
Current income tax and social contribution	(84)	(250)	-66.5%	(130)	-35.6%
Deferred income tax and social contribution	(4)	60	-	60	-
NET INCOME FOR THE PERIOD	945	1,188	-20.4%	979	-3.4%


	6

Income Statement by Segment

	Electricity				Gas	Equity Income	Eliminations	Consolidated
(R$ million)	Generation	Transmission	Trading	Distribution	Gas	Equity Income	Eliminations	Consolidated
NET REVENUE	923	492	2,111	7,716	500	37	(623)	11,156
Intersegment	502	94	-	26	0	-	(623)	-
Third-party	421	398	2,111	7,689	500	37	-	11,156
ELECTRICITY AND GAS COSTS	(179)	(0)	(2,252)	(3,799)	(198)	(0)	615	(5,814)
Intersegment	(26)	(0)	(475)	(114)	-	0	615	-
Third-party	(152)	(0)	(1,777)	(3,686)	(198)	(1)	-	(5,814)
COSTS, EXPENSES, AND OTHER REVENUES	(213)	(246)	(229)	(2,722)	(125)	(78)	8	(3,604)
Personnel	(42)	(43)	(16)	(286)	(17)	(17)	-	(421)
Employee and management profit sharing	(5)	(5)	(4)	(27)	(3)	(10)	-	(53)
Post-employment obligations	(6)	(2)	(1)	(29)	-	(13)	-	(50)
Materials, third-party services, and other expenses, net	(75)	(23)	(10)	(659)	(20)	(49)	8	(828)
Intersegment	(6)	(1)	-	(1)	(0)	(0)	8	-
Third-party	(69)	(22)	(10)	(658)	(20)	(49)	-	(828)
Depreciation and amortization	(85)	(5)	(0)	(282)	(29)	(10)	-	(410)
Provisions and adjustments for operating losses	(0)	(3)	(198)	96	(3)	20	-	(88)
Infrastructure construction costs	-	(166)	-	(1,534)	(53)	-	-	(1,753)
COSTS, EXPENSES, AND OTHER REVENUES	(391)	(246)	(2,482)	(6,521)	(323)	(78)	623	(9,418)
Equity income	-	-	-	-	-	91	-	91
INCOME BEFORE FINANCIAL RESULT AND INCOME TAXES	532	246	(371)	1,195	177	50	-	1,829
Financial result	(42)	(33)	(0)	(608)	(32)	(80)	-	(796)
INCOME BEFORE INCOME TAXES	490	213	(371)	587	145	(30)	-	1,033
Income tax and social contribution	(25)	(24)	63	(104)	(49)	50	-	(88)
NET INCOME FOR THE PERIOD	466	189	(308)	483	96	20	-	945


	7

Consolidated Energy Market

The Cemig Group billed approximately 9.6 million customers in June 2026, an increase of 131,000 customers compared to June 2025, which represents a 1.7% increase in the customer base. Of this total, 9,637,286 are end-users and self-consumers, and 623 are other players in the Brazilian electricity sector.

The chart below shows the Cemig Group’s share of sales to end-users:

Share of Energy Sales by Segment


	8

Performance by Company

Cemig D

Billed Energy Market

Captive + Transport - MWh	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change
Residential	3,256,834	3,170,399	2.7%	3,410,560	-4.5%
Industrial	5,315,913	5,483,215	-3.1%	5,281,913	0.6%
Captive market	131,038	179,077	-26.8%	123,347	6.2%
Transport	5,184,875	5,304,139	-2.2%	5,158,566	0.5%
Commercial, Services, and Other	1,506,841	1,521,024	-0.9%	1,544,105	-2.4%
Captive market	776,963	855,645	-9.2%	784,115	-0.9%
Transport	729,878	665,380	9.7%	759,990	-4.0%
Rural	692,531	778,749	-11.1%	519,590	33.3%
Captive market	653,346	745,410	-12.4%	481,742	35.6%
Transport	39,185	33,339	17.5%	37,848	3.5%
Public Services	781,396	792,114	-1.4%	773,784	1.0%
Captive market	502,687	585,327	-14.1%	516,867	-2.7%
Transport	278,709	206,788	34.8%	256,917	8.5%
Utilities	78,113	73,395	6.4%	71,147	9.8%
Transport	78,113	73,395	6.4%	71,147	9.8%
Own Consumption	7,696	6,992	10.1%	7,862	-2.1%
Total captive market	5,328,565	5,542,849	-3.9%	5,324,493	0.1%
Total energy transported for free-market clients	6,310,760	6,283,041	0.4%	6,284,468	0.4%
Total excluding DG	11,639,325	11,825,890	-1.6%	11,608,961	0.3%
DG1 Offset	1,552,154	1,340,410	15.8%	1,564,498	-0.8%
DG2 Offset	294,463	163,221	80.4%	280,206	5.1%
DG3 Offset	1,707	1,587	7.6%	793	115.2%
Total DG	1,848,324	1,505,218	22.8%	1,845,497	0.2%
Total Market including DG	13,487,648	13,331,108	1.2%	13,454,458	0.2%

Energy supply to captive customers, combined with energy transported to free-market customers and discos—excluding DG-offset energy —totaled 11,639 GWh in 2Q26, a 1.6% decrease compared to the same period in 2025. This result was mainly due to lower consumption in the industrial (-167.3 GWh or -3.1%), rural (-86.2 GWh or -11.1%), and commercial (-14.2 GWh or -0.9%) sectors, mainly due to the migration of customers to DG and the basic grid, as well as higher rainfall during the period, which reduced the need for irrigation. In contrast, the residential sector recorded an increase in consumption of 86.4 GWh (+2.7%), reflecting growth in the number of customers.

The 1.6% decrease in distributed energy, excluding DG, resulted from a 3.9% decrease (-214.3 GWh) in consumption by the captive market and a 0.4% increase (+27.7 GWh) in grid usage by the free-market customers.

Considering DG’s offset energy, total distributed energy grew by 1.2% compared to the same period last year.


	9

Energy Distributed

By Segment (%)

Performance by Sector

Industrial: Energy distributed to industrial customers decreased by 3.1%* YoY and accounted for 45.7%* of Cemig D’s total, with the majority relating to energy supplied to industrial free-market customers (44.5%), which decreased by 2.2% YoY. Meanwhile, billed energy for captive customers—which accounted for 1.1% of total distribution—saw a 26.8% decrease in consumption YoY, primarily due to customers migrating to the free market.

The decline in industrial-sector consumption was impacted by the migration of two large customers to the basic grid. Excluding this effect, the reduction in distributed energy would have been 0.9%. The lower consumption in 2Q26 is related, in particular, to the Steel (-30.1%), Chemicals (-10.7%), and Ferroalloys (-5.9%) sectors, while the Non-Ferrous Metals (+9.4%), Food and Beverages (+3.3%), and Extractive Industry (+1.6%) sectors showed growth in energy consumption.

Residential: Residential consumption, which accounted for 28.0%* of the energy distributed by Cemig D, increased by 2.7% YoY, mainly due to a 2.6% growth in the number of customers in this segment (+208,100), as well as a 0.1% increase in average consumption per customer, which reached 131.1 kWh/month.

Commercial and Services: The commercial segment accounted for 12.9% of the total volume of energy distributed by Cemig D in 2Q26* and showed a 0.9% YoY decrease in consumption. The change in this segment’s volume reflects a 9.2% decrease in the billed volume for captive customers and a 9.7% increase in the volume transported to free-market customers, a trend directly linked to the migration of customers to the deregulated market. The decrease in the segment’s total consumption, in turn, is related to the decline in the number of customers.

Rural: This sector accounted for 5.9%* of total distributed energy and showed an 11.1% YoY decrease in consumption, mainly due to higher rainfall in 2Q26 compared to the same period in 2025, which reduced the need for irrigation.

Public Services: accounted for 6.7%* of distributed energy in 2Q26, with a 1.4% YoY decrease in consumption.

*Excluding DG offset energy


	10

Physical Energy Balance – MWh

Metered Market – MWh	2Q26	2Q25	YoY % Change	Q1 2026	QoQ % Change
Energy transported to discos	78,113	73,395	6.4%	71,147	9.8%
Energy transported to free-market customers	6,427,521	6,207,535	3.5%	6,189,900	3.8%
Own Cargo + DG	8,867,873	8,792,162	0.9%	8,532,690	3.9%
Captive Market Consumption	5,272,543	5,550,333	-5.0%	5,438,282	-3.0%
DG Market	1,848,324	1,505,218	22.8%	1,845,136	0.2%
Losses in Distribution Network	1,747,006	1,736,611	0.6%	1,249,272	39.8%
Total Grid Load	15,373,507	15,073,092	2.0%	14,793,736	3.9%

Customer Base

In June 2026, 9.64 million consumers were billed, up 1.6% when compared to June 2025. Of this total, 6,488 are free-market customers who use Cemig D’s distribution network.

Number of captive customers	Jun/26	Jun/25	YoY % Change	Mar/26	QoQ % Change
Residential	8,281,118	8,072,997	2.6%	8,247,521	0.4%
Industrial	22,098	23,754	-7.0%	22,455	-1.6%
Commercial, Services, and Other	866,601	900,319	-3.7%	875,867	-1.1%
Rural	360,400	388,636	-7.3%	373,448	-3.5%
Public Sector	76,110	74,503	2.2%	75,148	1.3%
Street Lighting	8,553	7,354	16.3%	8,186	4.5%
Public Services	13,001	13,268	-2.0%	13,163	-1.2%
Own Consumption	878	830	5.8%	872	0.7%
Total captive customers	9,628,759	9,481,661	1.6%	9,616,660	0.1%

Number of free-market customers	Jun/26	Jun/25	YoY % Change	Mar/26	QoQ % Change
Industrial	2,499	2,290	9.1%	2,520	-0.8%
Commercial	3,288	2,914	12.8%	3,322	-1.0%
Rural	158	134	17.9%	168	-6.0%
Public Sector	85	51	66.7%	81	4.9%
Public Service	451	146	208.9%	339	33.0%
Utilities	7	8	-12.5%	8	-12.5%
Total free-market customers	6,488	5,543	17.0%	6,438	0.8%
Total captive + free market	9,635,247	9,487,204	1.6%	9,623,098	0.1%


	11

2026 Tariff Adjustment

Cemig D's tariffs are adjusted annually in May, with a tariff review process conducted every five years in the same month. The annual adjustment is designed to fully pass through non-manageable costs and to apply an inflation adjustment to manageable costs, as defined in the tariff review. The adjustment index for manageable costs is IPCA, from which the X Factor is deducted to capture productivity gains, in line with the price-cap regulatory model.

On May 26, 2026, ANEEL approved the Company’s Tariff Adjustment, effective from May 28, 2026, through May 27, 2027, with an average increase of 6.50% for consumers. The average impact on low-voltage customers was 5.21%, the same percentage applied to residential consumers. Of the total 6.50% adjustment, 1.40 percentage points correspond to costs manageable by the Company (Portion B). Non-manageable costs (Portion A)—which include energy purchases, transmission, sector-specific charges, and unrecoverable revenues—contributed 0.68 percentage points, while financial items incorporated into the rate accounted for the remaining 4.42 percentage points.

Average Effect of the Tariff adjustment
High-Voltage Average	9.4%
Low-Voltage Average	5.2%
Average Effect	6.5%

More details at the following link (in Portuguese):
Approval Resolution No. 3589/2026 - Leis.org

Tariff Review

Highlights of the 2023 Tariff Review and the previous cycle:

Tariff Review	2018	2023
Gross remuneration base - R$ million	20,490	25,587
Net remuneration base - R$ million	8,906	15,200
Average depreciation rate	3.84%	3.95%
WACC (after taxes)	8.09%	7.43%
Interest on Special Bonds - R$ million	149	272
CAIMI - R$ million	333	484
QRR R$ - Depreciation (Gross base × depreciation rate)	787	1,007

* CAIMI (Custo Anual das Instalações Móveis e Imóveis) – annual cost of movable and immovable facilities (IT, vehicles and administrative buildings)

* QRR: Regulatory Depreciation Quota: Gross base x annual depreciation rate

More details at the following link:
https://www2.aneel.gov.br/aplicacoes/tarifa/arquivo/NT%2012%202023%20RTP%20Cemig.pdf


	12

OPEX and EBITDA | Actual vs. Regulatory

OPEX and EBITDA outperformed regulatory benchmarks in 1H26, reaching R$416 million and R$666 million, respectively.

Notes:

Regulatory EBITDA comprises return on capital, the regulatory depreciation quota (QRR) and a percentage of the Annual Cost of Movable and Immovable Facilities (CAIMI), as published in ANEEL's Technical Notes at each Tariff Review or Tariff Adjustment.

Regulatory coverage considered: Regulatory PMSO + non-recoverable revenues + 78.45% of CAIMI.

Quality Indicators – DEC/FEC

The DEC (Equivalent Duration of Interruptions per Consumer) indicator stood at 8.43 hours at the end of 2Q26, its lowest level on record and below the regulatory limit of 9.26 hours. This represents a reduction of more than 1 hour compared with the 12-month period ended June 2025. The FEC (Equivalent Frequency of Interruptions per Consumer Unit) indicator also remained below the regulatory limit of 5.37, reaching 4.86 for the 12-month period ended in June 2026.

Delinquency Management

The collection rate has remained above 99% since 2022, reaching 99.14% in June 2026. This performance reflects the effectiveness of the Company’s collection tools and the successful conclusion of significant negotiations that resulted in customer payments.

Digital channels—including PIX, direct debit, credit cards, and the mobile app—accounted for 74.08% of total collections, compared with 67.50% in June 2025. PIX was particularly noteworthy, consolidating its position as customers’ primary payment method due to its convenience and the effectiveness of the Company’s promotional campaigns. Representing approximately 40% of total collections, PIX delivers significant efficiency gains by reducing operating expenses and improving the Company’s cash flow.


	13

Account Collection Rate - ARFA (%)

(Collections/Billing) – 12-Month Moving Average

Losses

Energy losses remained below the regulatory target in the 12-month period ended June 2026, reaching 11.40%, compared with the regulatory target of 11.48%. Since the previous tariff adjustment, effective May 28, 2025, the Company has applied an enhanced methodology for calculating regulatory coverage of non-technical losses, as established by ANEEL Technical Note No. 53/2025. The methodology now uses metered energy rather than billed energy as the basis for calculation, resulting in increased tariff coverage for energy losses.

Among the key loss-reduction measures implemented in the first half of the year were 169,000 inspections, the replacement of more than 145,000 obsolete meters, and the replacement of 157,000 conventional meters with smart meters. The latter brought the total number of smart meters installed since the project began in September 2021 to 760,000. The Company also continued regularizing unauthorized connections for households in informal settlements and high-complexity areas using shielded wiring, reaching 28,500 regularizations since the initiative began in February 2023.

For 2026, the Company plans to conduct 358,000 inspections, install 400,000 smart meters, replace 150,000 obsolete meters, and regularize connections for 25,000 households in low-income communities using BT Zero and Shielded Meter Panel technologies. It also plans to expand the use of capacitor banks to improve the control of technical losses, alongside other structural initiatives.

Total Losses


	14

Actual Losses

Regulatory Losses


	15

Cemig GT/Holding

Energy Market

Energy sales by Cemig GT and Cemig Holding, excluding CCEE, decreased 2.9% YoY, while energy billed by Cemig GT totaled 7,069 GWh, up 11.3% (+716.9 GWh) YoY. Cemig Holding recorded sales of 3,848 GWh, a 21.3% decrease compared to the same period last year. Of the total sold by the Holding and Cemig GT in 2Q26, 509.0 GWh were sold in the retail market.

Cemig GT - MWh	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
Free-Market Customers	3,916,242	3,625,816	8.0%	3,629,097	7.9%
Industrial	2,648,039	2,441,227	8.5%	2,342,687	13.0%
Commercial	1,167,139	1,152,685	1.3%	1,207,399	-3.3%
Rural	47,369	27,707	71.0%	39,352	20.4%
Public Sector	53,695	4,197	1,179.3%	39,659	35.4%
Free Market (ACL) – Traders and Cooperatives	1,998,179	1,574,194	26.9%	1,737,699	15.0%
Quota Supply	565,793	565,513	0.0%	567,622	-0.3%
Regulated Market (ACR)	555,750	554,118	0.3%	571,697	-2.8%
Regulated Market (ACR) – Cemig D	33,132	32,580	1.7%	33,437	-0.9%
Total GT	7,069,095	6,352,221	11.3%	6,539,552	8.1%

Cemig H - MWh	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
Free-Market Customers	2,103,383	2,481,986	-15.3%	2,050,436	2.6%
Industrial	1,654,713	1,978,731	-16.4%	1,580,159	4.7%
Commercial	398,634	476,561	-16.4%	405,428	-1.7%
Rural	26,800	26,694	0.4%	41,859	-36.0%
Public Service	23,236		-	22,991	1.1%
Free Market (ACL) – Traders and Cooperatives	1,744,359	2,408,829	-27.6%	2,063,547	-15.5%
Total H	3,847,741	4,890,815	-21.3%	4,113,984	-6.5%

Cemig GT + H	10,916,837	11,243,037	-2.9%	10,653,535	2.5%


	16

Energy Balance – Sales Breakdown

https://ri.cemig.com.br/en/financial-information/electric-energy-balances

Energy Supply and Demand Balance – Cemig Group* – Position in July 2026


	17

Gasmig

Gasmig is the exclusive distributor of piped natural gas in the state of Minas Gerais, serving the industrial, commercial, residential, compressed natural gas, automotive, and thermoelectric power generation segments. Its concession runs through January 2053, and Cemig holds a 99.57% interest in the company.

EBITDA - R$ thousand	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
Net Income	95,899	150,821	-36.4%	100,598	-4.7%
Income tax and social contribution expense	50,765	73,467	-30.9%	47,083	7.8%
Financial result	32,048	(4,533)	-	21,138	51.6%
Depreciation and amortization	27,193	23,735	14.6%	23,922	13.7%
EBITDA as defined in “CVM Resolution 156”	205,905	243,490	-15.4%	192,741	6.8%

The decline in Gasmig’s EBITDA (-15.4%) was driven by a 17.0% drop in total gas distribution volume and by the migration of customers to the free market, which offers a lower margin.

The YoY decrease in total gas volume distributed resulted from a 55.7% reduction in volume sold to the captive market (-108,800 m³), partially offset by a 75.6% increase in volume distributed to free-market customers (+61,700 m³). Lower sales volumes reflected industrial customers’ migration to the free market, which in turn increased distributed volumes in that segment. Considering the total volume distributed, the industrial sector was primarily responsible for the reduction, with a decrease of 31,400 m³ YoY, while the thermal segment saw a decrease of 15,300 m³.

Gasmig saw a 5.9% increase in the number of customers compared to June 2025, reaching 113,057 consumers in 2Q26, mainly due to the increase of 6,300 customers in the residential sector.

MARKET (Volume in thousand m³)	2024	2025	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
Automotive	22,511	19,216	4,768	3,939	-17.4%	3,923	0.4%
Compressed Natural Gas - Automotive	630	417	110	56	-49.1%	97	-42.3%
Industrial	786,363	513,509	174,789	69,896	-60.0%	76,892	-9.1%
Compressed Natural Gas - Industrial	10,275	8,938	2,643	2,444	-7.5%	1,487	64.4%
Residential	12,095	13,194	3,550	3,366	-5.2%	3,028	11.2%
Cogeneration	12,164	10,108	3,371	100	-97.0%	123	-18.7%
Commercial	23,203	24,598	6,161	6,790	10.2%	6,281	8.1%
Subtotal - captive market	867,241	589,980	195,392	86,591	-55.7%	91,831	-5.7%
Industrial - free market	107,723	364,178	58,901	132,849	125.5%	134,841	-1.5%
Compressed Natural Gas - Industrial - free market	7,699	10,145	2,581	2,288	-11.4%	2,255	1.5%
Cogeneration - free market	0	3,763		3,272	-	3,786	-13.6%
Thermal - free market	58,046	66,919	20,112	4,846	-75.9%	11,785	-58.9%
Subtotal - free market	173,468	445,005	81,594	143,255	75.6%	152,667	-6.2%
Total (captive + free market)	1,040,709	1,034,985	276,986	229,845	-17.0%	244,498	-6.0%

It is worth noting that the most recent tariff review process for Gasmig took place in April 2022, with the following highlights:

•

Decrease in WACC rate (actual, after taxes) from 10.02% p.a. to 8.71% p.a.

•

Significant increase in Net Remuneration Base, which reached R$3.48 billion

•

Full recognition of PMSO costs by the regulator


	18

Consolidated Financial Performance

Operating Revenue

R$ thousand	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
Gross electricity supply	9,055,911	8,686,379	4.3%	8,995,136	0.7%
Revenue from use of the distribution system – TUSD	1,633,700	1,414,496	15.5%	1,510,020	8.2%
CVA and other financial components	213,753	70,394	203.7%	369,582	-42.2%
Revenue from transmission operation and maintenance	103,282	114,197	-9.6%	49,336	109.3%
Revenue from construction and transmission improvements	223,329	179,130	24.7%	151,789	47.1%
Financial return on transmission contract assets	180,024	30,416	491.9%	38,341	369.5%
Revenue from generation compensation	35,805	31,201	14.8%	35,146	1.9%
Revenue from distribution construction	1,587,229	1,324,446	19.8%	1,376,970	15.3%
Remeasurement of the distribution concession's indemnifiable financial asset (VNR)	79,686	26,618	199.4%	65,278	22.1%
Revenue from indexation of the concession grant bonus	147,979	118,859	24.5%	120,632	22.7%
Settlement at CCEE	65,442	39,585	65.3%	19,832	230.0%
Gas supply	563,336	965,491	-41.7%	556,413	1.2%
Customer compensation for continuity breaches	(39,694)	(39,949)	-0.6%	(48,017)	-17.3%
Other revenue	1,109,677	1,315,539	-15.6%	1,030,792	7.7%
Taxes and charges levied on revenue	(3,803,221)	(3,490,507)	9.0%	(3,808,707)	-0.1%
Net revenue	11,156,238	10,786,295	3.4%	10,462,543	6.6%

Gross Energy Supply

(1) The average price does not include revenue from unbilled supply


	19

Consolidated Energy Sales*: -1.0%

GWh

*Including DG-offset energy

Revenue from Energy Supply

Gross revenue from energy supply went up by 4.3%, to R$9,055.9 million in 2Q26 from R$8,686.4 million in 2Q25. The change was primarily driven by the annual tariff adjustment for Cemig D and the higher volume of energy sold to residential customers.

Transmission

The Company’s transmission revenue consists of operating and maintenance revenue, construction revenue, and financial remuneration of the contract asset. In 2Q26, transmission revenue totaled R$506.6 million, up 56.5% YoY. This change is explained by the increase in revenue from financial remuneration of the contract asset, which grew by R$149.6 million due to the higher IPCA during the period (the inflation index used to adjust most of the revenue), and by the R$44.2 million increase in construction revenue, resulting from higher investments.

Gas

Gross revenue from gas supply totaled R$563.4 million in 2Q26, down 41.7%, mainly due to the migration of industrial customers to the free market, the main factor behind the 55.7% decline in sales volume.

TUSD (Tariff for Use of the Distribution System)

TUSD’s revenue—derived from charges levied on free-market consumers for distributed energy—increased by R$219.2 million (+15.5%) YoY in 2Q26. This change stems from the disco’s annual tariff adjustments, implemented on May 28, 2025—with full effect in 2Q26—and on May 28, 2026—with impact effective as of that date—as well as from the increase in charges paid by free-market consumers.

CVA (regulatory deferral account for variances in Portion A costs) and Other Financial Components

Revenue of $213.7 million was recognized in 2Q26, up 203.7% YoY, mainly because energy purchase and CDE costs exceeded the amounts incorporated into the tariff adjustment.

Cemig D recognizes in its financial statements the positive or negative variances between actual non-manageable costs and the estimated costs used as the basis for setting tariffs. These balances represent the amounts that will be reimbursed to consumers or passed on to Cemig D in future tariff adjustments.


	20

Operating Costs and Expenses

CONSOLIDATED - R$ thousand	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
Energy purchased for resale	4,785,257	4,547,303	5.2%	4,915,028	-2.6%
Basic grid usage charges	830,506	776,715	6.9%	718,658	15.6%
Gas purchased for resale	198,475	485,097	-59.1%	213,270	-6.9%
Construction cost	1,753,090	1,463,371	19.8%	1,482,436	18.3%
Personnel	420,807	388,389	8.3%	365,592	15.1%
Employee and management profit sharing	53,380	46,024	16.0%	45,054	18.5%
Post-employment obligations	50,233	109,324	-54.1%	50,233	0.0%
Materials	24,341	26,654	-8.7%	32,348	-24.8%
Third-party services	640,052	527,007	21.5%	596,063	7.4%
Depreciation and amortization	410,069	368,393	11.3%	401,321	2.2%
Provisions (reversals)	215,149	63,999	236.2%	84,000	156.1%
Expected credit losses	(177,013)	3,098	-	83,363	-
Expected loss on other receivables	50,312	30,126	67.0%	34,534	45.7%
RBSE Remeasurement	-	198,895	-	-	-
Other costs and expenses	163,717	138,641	18.1%	131,804	24.2%
Total Costs and Expenses	9,418,375	9,173,036	2.7%	9,153,704	2.9%
Gain on disposal of intangible assets	-	-	-	(26,191)	-
Total Other Revenue (expense reduction)	-	-	-	(26,191)	-
GRAND TOTAL	9,418,375	9,173,036	2.7%	9,127,513	3.2%

Operating costs and expenses totaled R$9.42 billion in 2Q26, an YoY increase of R$245.3 million (+2.7%). This change is primarily due to a R$238.0 million increase in the cost of energy purchased for resale and a R$289.7 million increase in construction costs (higher investments), offset by a decrease of R$286.7 million in the cost of gas purchased for resale.

Further details on costs and expenses are provided below.

Energy Purchased for Resale

CONSOLIDATED - R$ thousand	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
Energy purchased in the free market	1,968,106	1,656,838	18.8%	1,781,732	10.5
Energy purchased through auctions in regulated market	1,064,799	1,046,488	1.7%	1,260,776	-15.5%
Distributed generation	901,198	846,075	6.5%	1,018,078	-11.5%
Short-term energy	585,257	489,394	19.6%	593,620	-1.4%
Itaipu Binacional energy	277,364	322,822	-14.1%	271,131	2.3%
Firm energy quota contracts	176,360	200,845	-12.2%	187,244	-5.8%
Bilateral contracts	26,620	132,433	-79.9%	26,328	1.1%
PROINFA	108,404	134,838	-19.6%	108,403	0.0%
Quotas for Angra I and II power plants	62,643	83,446	-24.9%	54,984	13.9%
PIS/PASEP and COFINS credits	(385,494)	(365,876)	5.4%	(387,268)	-0.5%
TOTAL	4,785,257	4,547,303	5.2%	4,915,028	-2.6%

Consolidated costs for electricity purchased for resale totaled R$4.79 billion in 2Q26, an increase of R$238.0 million YoY. This change is primarily due to the following factors:


	21

•

Costs of energy purchased in the free market, which represent the largest component of energy purchase costs (R$1,968.1 million), increased by R$311.3 million (+18.8%) YoY, mainly reflecting the need to buy energy to close open positions at the higher prices prevailing through 2026.

•

A R$96.9 million (19.6%) increase in short-term energy costs, primarily explained by an energy deficit at Cemig D, resulting in exposure to the short-term market.

•

A R$105.8 million decrease in the cost of energy from bilateral contracts.

Cemig D R$ thousand	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
Energy purchased through auctions in regulated market	1,072,517	1,057,434	1.4%	1,276,628	-16.0%
Distributed generation	901,198	846,075	6.5%	1,018,078	-11.5%
Short-term energy	499,636	333,854	49.7%	328,894	51.9%
Itaipu Binacional energy	277,364	322,822	-14.1%	271,131	2.3%
Firm energy quota contracts	188,658	205,235	-8.1%	191,504	-1.5%
Bilateral contracts	26,620	132,433	-79.9%	26,328	1.1%
PROINFA	108,404	134,838	-19.6%	108,403	0.0%
Quotas for Angra I and II power plants	56,840	83,446	-31.9%	49,970	13.7%
PIS/PASEP and COFINS credits	(195,527)	(198,698)	-1.6%	(197,993)	-1.2%
TOTAL	2,935,710	2,917,439	0.6%	3,072,943	-4.5%

Gas Purchased for Resale

In 2Q26, the cost of gas purchases was R$198.5 million, representing an YoY decrease of R$286.6 million. This change is primarily due to the reduction in the volume of gas purchased to meet demand in the regulated market, given the migration of major industrial customers to the free gas market.

Third-party Services

Expenses for third-party services rose 21.5% (+R$113.0 million) YoY, driven primarily by the following increases: R$54.8 million (+30.1%) for maintenance and upkeep of electrical equipment, largely due to an increase in preventive maintenance; R$13.5 million (+38.8%) for information technology, R$11.1 million (+42.9%) for tree trimming, and R$9.2 million (22.4%) for right-of-way cleaning. The increase in expenses is directly related to the higher volume of work performed during the period, with a focus on strengthening the grid’s resilience and improving the quality and reliability of the energy supply.

Expected Credit Losses (ECL)

Expenses related to expected credit losses represented a reversal of R$177.0 million in 2Q26, compared to losses of R$3.1 million in 2Q25. The reversal in 2Q26 resulted from a revision to the methodology for calculating Expected Credit Losses (ECL) aimed at improving the alignment of estimates with the actual recoverability of receivables, with an impact of R$232.2 million. The main changes implemented were:

•

extending the default recognition horizon to 60 months (previously: performing/36 months and non-performing/18 months);

•

improvement of the methodology applied to performing and non-performing loan portfolios through a revision of the provisioning matrix, allowing for a more accurate measurement that better reflects the historical recovery behavior of loans.

The revision was based on three main pillars: (i) the effectiveness of collection tools, as evidenced by improvements in the aging profile of outstanding receivables; (ii) benchmarking against other companies in the electric power sector; and (iii) consistency with the concepts applied by ANEEL in calculating Irrecoverable Revenues, bringing regulatory and IFRS methodologies into closer alignment.


	22

Provisions for Contingencies

Provisions for contingencies totaled R$215.1 million in 2Q26, up R$151.2 million YoY. The change is primarily explained by the recognition of a provision resulting from an award in an arbitration proceeding initiated by a free-market customer.

Post-employment obligations

Expenses related to post-employment obligations decreased by R$59.1 million YoY. Excluding the non-recurring effect of the remeasurement of the obligation in 2Q25, the expense would have been R$80.2 million lower. The reduction in this expense is a direct result of the termination of the obligation related to the healthcare plan, pursuant to an agreement with unions and retirees that was ratified by the Regional Labor Court (TRT) at the end of 2025.

Personnel

Personnel expenses totaled R$420.8 million in 2Q26, up R$32.4 million YoY. The main factors driving this growth were the annual collective wage adjustment and the voluntary dismissal programs (VDPs) implemented in 2Q26 and 2Q25, with expenses of R$42.8 million and R$25.4 million, respectively.

Personnel Costs Evolution

R$ million excluding VDPs

Number of Employees by Company


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Equity Income

R$ thousand	2Q26	2Q25	YoY % Change	1Q26	QoQ % Change
TAESA	120,634	106,958	13,676	74,184	46,450
Paracambi	4,935	4,527	408	4,098	837
Guanhães Energia	2,387	2,182	205	2,517	(130)
Cachoeirão HPP	548	1,677	(1,129)	2,277	(1,729)
Cemig Sim (Holdings)	0	3,920	(3,920)	0	0
Pipoca HPP	0	180	(180)	404	(404)
Belo Monte (Aliança Norte and Amazônia Energia)	(37,121)	(42,026)	4,905	(31,155)	(5,966)
Total	91,383	77,418	13,965	52,325	39,058

Equity income increased by R$14.0 million in 2Q26 compared to the same period last year. This performance was primarily driven by improved results at TAESA, reflecting the energization of new transmission assets and the resulting incremental RAP, as well as higher inflation indices (IGP-M and IPCA), which positively impacted the financial remuneration of contract assets. Worth noting that Cemig Sim no longer recognizes results under the equity method, as it divested its interests in other companies at the end of 2025 and now owns all of its assets directly.


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Consolidated EBITDA

(1) EBITDA is a non-GAAP measure prepared by the Company and reconciled to its consolidated financial statements in accordance with Circular Letter CVM/SNC/SEP No. 01/2007 and CVM Resolution No. 156, dated June 23, 2022. It consists of net income adjusted for net financial result, depreciation and amortization, and income tax and social contribution. EBITDA is not a measure recognized under Brazilian GAAP or IFRS, has no standardized definition, and may not be comparable to similarly titled measures reported by other companies. The Company discloses EBITDA because it uses the measure to assess its performance. EBITDA should not be considered in isolation or as a substitute for net income or operating income, as an indicator of operating performance or cash flow, or as a measure of liquidity or of the ability to service debt. The Company adjusts EBITDA in accordance with CVM Resolution No. 156/2022 to exclude non-recurring items that do not reflect its underlying cash generation.

Consolidated EBITDA 2Q26 R$ thousand	Generation	Transmission	Trading	Distribution	Gas	Holding / Equity Interests	Total
Net Income for the period	465,514	189,072	(308,139)	483,134	95,897	19,966	945,444
Income and social contribution taxes	24,737	23,769	(63,283)	103,627	49,062	(50,015)	87,897
Financial result	42,030	33,322	269	608,194	32,050	80,040	795,905
Depreciation and amortization	84,847	4,941	3	281,795	28,896	9,587	410,069
EBITDA as defined in “CVM Resolution 156”	617,128	251,104	(371,150)	1,476,750	205,905	59,578	2,239,315
Non-recurring and non-cash items
Net income attributable to non-controlling shareholders	-	-	-	-	(412)	-	(412)
Voluntary Dismissal Program	4,188	2,588	593	31,546	-	3,882	42,797
Provisions - Consumer Relations	-	-	190,653	-	-	-	190,653
Adjusted EBITDA	621,316	253,692	(179,904)	1,508,296	205,493	63,460	2,472,353

Consolidated EBITDA 2Q25 R$ thousand (Restated)	Generation	Transmission	Trading	Distribution	Gas	Holding / Equity Interests	Total
Net Income for the period	449,724	(2,841)	6,481	550,550	150,820	33,547	1,188,281
Income and social contribution taxes	31,781	(36,693)	(3,961)	147,391	71,765	(20,474)	189,809
Financial result	(11,424)	5,137	9,711	288,644	(6,058)	26,577	312,587
Depreciation and amortization	78,044	4,652	3	254,372	25,438	5,884	368,393
EBITDA as defined in “CVM Resolution 156”	548,125	(29,745)	12,234	1,240,957	241,965	45,534	2,059,070
Non-recurring and non-cash items
Net income attributable to non-controlling shareholders	-	-	-	-	(648)	-	(648)
Remeasurement of post-employment liabilities	(2,302)	(1,422)	(326)	(16,163)	-	(948)	(21,161)
RBSE Remeasurement	-	198,895	-	-	-	-	198,895
Voluntary Dismissal Program	1,920	1,187	272	20,812	-	1,200	25,391
Adjusted EBITDA	547,743	168,915	12,180	1,245,606	241,317	45,786	2,261,547

Consolidated EBITDA 1Q26 R$ thousand	Generation	Transmission	Trading	Distribution	Gas	Holding / Equity Interests	Total
Net Income for the period	396,428	138,987	(125,152)	397,653	100,598	70,465	978,979
Income and social contribution taxes	33,065	20,581	(28,658)	54,435	38,568	(48,039)	69,952
Financial result	23,619	14,414	(7,243)	283,611	21,138	2,885	338,424
Depreciation and amortization	79,143	4,610	3	274,697<