Management, Board of Directors and Committees

Board of directors

Under our by-laws our board of directors shall be composed of eleven sitting members and it’s respective alternate members, residents or not in the country, elected in the annual shareholders meeting, an 1 year mandate, with reelection being permitted. In accordance with the rules of the Nível 2 segment of the BOVESPA, the Company’s Board of Directors shall present at least four independent members, being two sitting and two alternate, which shall be identified as such in the annual shareholders meeting that elects him or her.

TAESA’s Board of Directors is responsible for defining the general business policies. Among other duties, is responsible for electing or dismissing the executive officers and supervising their management. The Board of Directors must also decide about the participation in public tenders promoted by ANEEL or any representative of the Grantor with competence.

Our board of directors is currently composed of:

Name Position
José Maria Rabelo Sitting Member

Mr. José Maria Rabelo majored in Law at Federal University of Minas Gerais (UFMG) in 1981, holds an MBA in Basic Training for High-level Executives from UFMG and an International MBA from APG Amana Key for high management positions. He held the position of Business Development Officer at Companhia Energética de Minas Gerais S.A. (CEMIG) from October 2017 to March 2018, and was the Managing Director of the National Superintendency of Complementary Social Security (PREVIC) from March 2011 to June 2014. Mr. Rabelo also worked at Banco do Brasil, where he held the following positions: Vice-President of International Business and Wholesale, Foreign Trade Officer, General Manager of the Operating Assets Restructuring Unit and CEO of the Credit Business Unit, among other leadership positions. He was de CEO of BB Leasing S.A. Arrendamento Mercantil from 2006 to 2009 and Chief Commercial Officer of Companhia de Seguros Aliança do Brasil from 2000 to 2002. Over the past five years, Mr. Rabelo was a Board member in the following bodies: Banif - Banco Internacional do Funchal (Brazil) (9/2015 to 1/2016); Board of Directors of Transmissora Aliança de Energia Elétrica S.A. - TAESA (5/2014 to 4/2015); Tax Council of Transmissora Aliança de Energia Elétrica S.A. - TAESA (1/2011 to 4/2014); National Supplementary Pension Council (CNPC) (3/2011 to 6/2014); National Committee for Financial Education (CONEF) (3/2011 to 6/2014); Committee for Regulation and Inspection of Financial, Capital, Insurance, Pension, and Capitalization Markets (COREMEC) (3/2011 to 6/2014); and Randon Implementos e Participações S.A. (4/2007 to 4/2011). Currently, he is a sitting member of the Board of Directors of Aliança Geração de Energia S.A. (since March 2018), a sitting member of the Board of Directors of Madeira Energia S.A. and Santo Antônio Energia (December 2017) and a sitting member of the Tax Council of Itaúsa - Itaú Investments S.A. (April 2016). In the last five years, José Maria Rabelo was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

José Afonso Bicalho Beltrão da Silva Sitting Member

Mr. José is economist graduated at Universidade Federal de Minas Gerais, Master in Regional Economy at CEDEPLAR/UFMG and PhD (Doctor) in Economy at Manchester University - England. Currently he is member of the Board of Director at Parati S.A. - Participações em Ativos de Energia Elétrica, since 13-03-2015 e member of the Board of Director at Companhia Energética de Minas Gerais-Cemig, Cemig Geração e Transmissão S.A. and Cemig Distribuição S.A., since 22-01-2015. Companies with shares traded at a stock exchange. He is the Secretary of State for Finance of Minas Gerais - period: since January/2015 and was Minister Advisor of the MDIC and the BNDES - period: April/2013 to December/2014, Finance Secretary of Belo Horizonte Municipality- period January/2006 a July/2012, President of PBH Ativos S/A - period: March/2009 to July/2014, President of BEMGE- Banco do Estado de Minas Gerais - period January/1994 to September/1998 - company with shares traded at a stock exchange, President of CREDIREAL - Banco de Crédito Real de Minas Gerais - period January/1994 to August/1997 - company with shares traded at a stock exchange. President of DIMINAS- Distribuidora de Títulos do Estado de Minas Gerais - period July/1990 to December/1994 e Deputy Secretary and Secretary of State for Finance of Minas Gerais - period May/1990 to December/1994

Alcione Maria Martins Comonian Sitting Member

Ms. Alcione Maria Martins Comonian majored in Pedagogy and is graduated in Human Resources Strategic Management. Currently, she serves as the Deputy General Secretary of the State Government of Minas Gerais. From 2009 to 2012, she worked as Chief of Staff at PRODABEL, and in 2013, held the position of Manager and Administrator of MOP. Ms. Comonian also worked as Substitute Secretary to the Municipal Government of Belo Horizonte , and since 2015, she has served as a board member in the following entities: PRODEMGE, Minas Gerais Administração e Serviços - MGS, Trem Metropolitano de Belo Horizonte - Metrominas and Companhia de Desenvolvimento Econômico de Minas Gerais - CODEMIG. In the last five years, Alcione Maria Martins Comonian was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

Paulo de Moura Ramos Sitting Member

Mr. Paulo de Moura Ramos majored in Economics at College of Economic Sciences (FACE) of the Pontifical Catholic University. From 2009 to 2012, he was the CEO of Empresa de Informática e Informação no Município de Belo Horizonte - PRODABEL, and from 2013 to 2014, provided consulting services on private enterprises at Mop Consultoria. Currently, he is the CEO of PRODEMGE. He also holds the position of Chairman of the Board of Directors of Companhia de Desenvolvimento de Minas Gerais-CODEMIG and Administração da Axxion Soluções Tecnológicas S.A. He is a sitting member of the Company‘s Board of Directors. On September 23, 2016, an arrest warrant was issued against Mr. Paulo de Moura Ramos, compelling him to testify under the Acronym Operation of the Brazilian Federal Police, which is being heard in chambers. According to information provided by Mr. Paulo de Moura Ramos‘ lawyer, the subject matter of the investigations are not the activities performed by Mr. Ramos in the Company. For further information about the arrest warrant involving Mr. Paulo de Moura Ramos, see item 4.7 of the Reference Form. Except for the mentioned fact, Paulo de Moura Ramos states that in the last five years, he has not been subject to the effects of any criminal conviction, whether final or not, any conviction in administrative proceedings before CVM, whether final or not, or any final unfavorable judicial or administrative ruling, which has resulted in his suspension or impediment to the exercise of any professional or commercial activity.

Ana Milena López Rocha Sitting Member

Ms. Ana Milena López Rocha majored in Economics at Harvard University, and holds a Master‘s degree in Finance from Columbia Business School, and has extensive experience in capital market transactions. Ms. Rocha was Vice-president of J.P Morgan in London, where she worked in the structuring of Emerging Markets; in 2014 and 2015, as an associate analyst of J.P Morgan in New York, she integrated the work team of Sociedades Bolívar S.A., working in capital market transactions and issues of securities of the Bolívar Group’s companies. In the period from 2012 to 2013, she worked at NewFoundland Capital Management, in the review of capital investments of Chile, Colombia and Peru, in the management of business development strategy and fundraising, and in the structuring of investment funds registered with the Brazilian Securities Commission (CVM). She also worked as Financial Advisor to Fiduciaria Alianza. She held the office of General Director of Public Credit and National Treasury in the Ministry of Finance and Public Credit from 2015 to 2017, being responsible for activities related to the provision of financing for entities, monitoring of the country‘s external financing and risk, and of multilateral organizations and government agencies. Ms. Rocha also managed matters relating to the country‘s internal financing, investment bank, treasury, operations and investor relations. She was a member of the Board of Directors of Ecopetrol S.A. (2016 to 2017); Interconexão Elétrica S.A. E.S.P. (2015 to 2017), Conselho Financeiro de Desenvolvimento Nacional (2015 to 2017) and Isagen S.A. E.S.P. (2015). Currently, she is the CFO of CENIT TRANSPORTE E LOGÍSTICA DE HIDROCARBONETOS in Bogota. In the last five years, Ana Milena López Rocha was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

Bernardo Vargas Gibsone Sitting Member

Mr. Gibsone holds a Master‘s degree in Economics from the University of Los Andes and an MBA with emphasis in finance, business economics, international economics, doctoral courses in economics, micro and macroeconomics from Columbia Business School in New York. He holds the position of CEO at Interconexion Electrica S.A.E.S.P. Colombia since 2015, he was a partner of Nogal Assessorias Financeiras in Bogotá from 2001 to 2014. At ING Barrings (Colombia) he was president between 1997 and 2000, responsible for the unified operations of ING Barings in Colombia, for all activities of the Investment Portfolio and Corporate Portfolio. President of ING Barings Corporación Financiera, for banking and local treasury operations (with assets of USD 170 million). Between 1994 and 1996, he was general manager at Barings Securities (Andean Pact), responsible for managing projects, especially M&A and capital issuance. At Proexport Colombia (National Export Promotion Organization), he served as president between 1993 and 1994, responsible for structuring and implementing a new model for promotion of Colombian exports. He was also responsible for supervision of 180 professionals and coordination of the national export strategy, including 4 service areas and 16 worldwide. Between 1992 and 1993, he was president of the Colombian Foreign Trade Trust (FIDUCOLDEX) and established the Trust Bank, oriented to the development of export companies. In 1992, at the Ministry of Foreign Trade, he was an adviser to the Minister, a member of the foreign trade and investment negotiations team with the governments of the United Kingdom, Canada, Israel, Mexico, Venezuela and the United States. In the Department of International Reserves and External Financing of the Banco de la Republica (Central Bank), between 1988 and 1992, he was the Director responsible for the investment strategy of the Central Bank’s Portfolio of International Reserves. In 1987, he was an Analyst at the Mesa Negociación Deuda Latinoamericana (Latin American Debt Trading Desk) at Shearson Lehman Brothers in New York, USA. In the International Department of the Banco de la Republica (Central Bank), he served as Deputy Director responsible for supervision of a team of 20 professionals, control of international reserves investments, coordination and execution of debt transactions, development of models for projection of the country’s international accounts between 1985 and 1986. From 1983 to 1985, he worked in the Monetary Board as Assistant to the Advisors responsible for formulating financial proposals and foreign exchange policy for the Board, implementing the design of the minimum reserves system for Development and Introduction Banks and monitoring models for growth forecasting of monetary aggregates and balance of payments. In the Economic Research of Corporación Centro Regional de Población between 1982 and 1983, he was the analyst responsible for participation in analysis projects on issues of monetary and fiscal policy, and of international trade. He is Chairman of the Board of Directors of CTEEP - Companhia de Transmissão de Energia Elétrica Paulista; a member of the Board of the Companies: ISA Capital do Brasil S.A.; ISA Peru; Amarilo, Spectrum (Guatemala); Dynamo Producciones; Lumni Colômbia; Best Buddies; Fundación Neme; Fundación San Mateo Apostol; Hospital Infantil Universitario de San José.

François Moreau Sitting Member

Mr. François Moreau is an Executive Officer of Estratégia & Valor, a consulting firm engaged in investment management and development of energy and infrastructure business, investments in the energy and infrastructure industries, and is experienced in the preparation and implementation of business recovery strategies. He has actively participated in various major commercial transactions and processes of institutional reforms, holding leadership positions in the petroleum, natural gas and electrical energy industries. He worked in the British Gas - BG Group from 1997 to 2002, responding for the development of new business and corporate affairs. He has led the negotiations with the Government of the State of São Paulo in the privatization of gas distribution, when the BG Group acquired the control of Comgas. He was an Executive Officer of Comgas during the period from the post-privatization takeover phase until the resumption of normal operations. In 2001, Mr. Moreau structured the 1st private business engaged in the supply of natural gas with free access, following the arbitration by the National Petroleum Agency (ANP). He worked in the Shell group from 1980 to 1997, initially holding positions in corporate departments, marketing, and metals (Billiton). As a Government Relations Manager, through a Business Action plan, he worked in the preparation and approval of the legal and regulatory framework for the oil, gas and electrical energy industries. Holding the position of Gas Business Development Manager, he participated in the negotiations that led to the association with Enron in the Bolivia-Brazil gas pipeline and with the thermoelectric plant of Cuiabá. In 1997, he led the negotiations for acquisition of the 20% ownership interest held by the Municipal Government of São Paulo in Comgas, in anticipation to the privatization process. He majored in Business Administration and holds graduate degrees in Advanced Management (City of London Polytechnic) and Strategy (Stanford University), and an MBA (PDG/SDE LL.M.) in Corporate Law and in Capital Markets (IBMEC Rio de Janeiro). He has served as a member of the Boards of Directors of Eternit (2017), TPI - Triunfo Participações e Investimentos (2015 to 2017), and HRT (2013). Since 2008, he serves as a member of the Tax Council of Duke Energy, Geração Paranapanema (currently Rio Paranapanema Energia - GTG Group). In the last five years, François Moreau was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

Hermes Jorge Chipp Sitting Member

During his career, Mr. Hermes Chipp has held several positions, among them: Engineer of the Systems Coordination Department - DECS, of the Systems Operation Directorate - ELETROBRÁS, from 1971 to 1980; Head of the Division of the Systems Coordination Department - DECS, of the Systems Operation Directorate - ELETROBRÁS, from 1980 to 1990; Head of the Electric Operation Planning Division - DOLP, Department of Planning and Analysis of Electric Operation - DOL, of the Systems Operation Directorate - ELETROBRÁS, from 1990 to 1991; Coordinator of the Working Group on Planning for Medium-Term Electrical Operation - GTPM of the Subcommittee on Electrical Studies - SCEL, from the Coordinating Group for Interconnected Operation - GCOI, from 1990 to 1991; Head of the Department of Planning and Analysis of Electric Operation - DOL, of the Systems Operation Directorate - ELETROBRÁS, from 1991 to 1993; Coordinator of the Subcommittee on Electrical Studies - SCEL, of the Coordinating Group for Interconnected Operation - GCOI, from 1991 to 1996; Executive Assistant of the ELETROBRÁS Systems Operations Department, from 1993 to 1995; Director of Systems Operation (interim) of ELETROBRÁS, from 1995 to 1995; Executive Secretary of the Coordinating Group for Interconnected Operation - GCOI, from 1997 to 1998; Director of Planning and Programming of the Operation of the National Operator of the Electrical System - ONS, from 1998 to 2005; Acting General Director of the National Electric System Operator from 2005 to 2005; General Director of the National Operator of the Electric System - ONS, from 2005 to 2016; Permanent member of the Monitoring Committee of the Electric Sector - CMSE of the Ministry of Mines and Energy, from 2005 to 2016. He carried out activities in the Project of Restructuring of the Brazilian Electrical Sector as: Coordinator of the Support Group - Structure and Commercial Model - 1st Phase - Analysis of the Proposal of the Consultancy Coordinator of the Market and Business Arrangements Group - 2nd Phase - Implementation of the Technical Coordinator of the Market - 3rd Phase - Finalization of the Project. He has performed the following activities in International Organizations of the Electric Sector: President of CIER - Regional Energy Integration Commission, in the period 2012-2013 after exercising the Vice Presidency in the period 2008-2010. President and later Vice President of the International Organization GO15 (formerly VLPGO - Very Large Power Grid Operators), in the periods of 2013, 2014 and 2015. He held management positions at Companhia CA of Santo Antonio Energia, as of 08/06. He is currently a senior researcher and consultant at the Grupo de Estudos Elétricos (Group of Electrical Studies)-GESEL at UFRJ.

Fernando Bunker Gentil Sitting Member

Mr. Gentil holds an MBA from the University of Southern California, 1974 and a degree in Business Administration from the University of Southern California, 1972. He holds the position of Partner and Executive Director at G5 EVERCORE PRIVATE EQUITY since 2012 and is responsible for selecting investment opportunities around R$ 40-100 million. Among the main activities, he participates in the Investment Committee; Analyzes and approves investment proposals and leads the process of raising funds from institutional investors in Brazil and abroad. In the Company DARBY PRIVATE EQUITY he was the Executive Director, responsible for the activities in Brazil from 2006 to 2012. At SWISS RE GROUP, New York, NY, he was Executive Director and Head of Global Structured Finance, Financial Services Business Group from 2002 to 2004 and Executive Director, Latin America Head, Corporate Risk Group from 2000-2002. In ING GROUP, a European company (headquartered in the Netherlands) he was leader in financial services, with activities in Investment Banking and Corporate, Insurance and Asset Management, the following positions were held: Executive Director, Chief Executive Officer for the Americas, New York, Investment and Corporate Banking between 1997-2000 and member of ING Barings Global Executive Committee; Executive Director, Head of Brazil, São Paulo between 1990 and 1997; Head of Latin America, São Paulo between 1995 and 1997 Investment and Corporate Bank. At BANKERS TRUST CO., NY, NY, he was Senior Vice President between 1979-1990, Chief of Private Banking for Brazil between 1989-1990, increased assets under management by 20%, to $ 500 million, and generated between $ 5 and 10 million in revenue through debt for equity swaps. Deputy Vice President/Vice President, Latin America Merchant Banking: 1979-1989
He is a Member of the Advisory Council for Brazil of The Nature Conservancy, the largest environmental conservation organization in the world between 2005 and 2010. He has been a member of the Latin America Council of Georgetown University between 2011 and 2014 and a member of the Board of the Tennis Institute, a foundation that supports sports and school programs for low-income children since 2007.

Jorge Raimundo Nahas Sitting Member

Graduated in Medicine, he served as Director General of Betim Regional Public Hospital from 1997 to 2000. He served as Hospital Management General Coordinator of the Health Ministry from 2000 to 2003. He occupied the position as secretary of Social Policies of the city of Belo Horizonte.

Celso Maia de Barros Sitting Member

Since 2013, he has held the position of Managing Partner at Urca Capital Partners, Independent Investment Banking Boutique where he is responsible for the institution and execution of M&A and financing operations. He leads a team of 15 professionals based in São Paulo and Rio de Janeiro. He currently performs mandates in industrial, real estate, agribusiness and diversified educational services. Between 2001 and 2012, he was Founder and Managing Partner of a major Brazilian banking investment services company called Vergent Partners, Boutique de Investimentos Bancários Independente. He led and participated in all the company‘s reference transactions, in particular: (i) the sale of control of Terna Participações, a subsidiary of Terna da Itália to CEMIG, in the amount of R$ 2.3 billion; (ii) the sale for almost R$ 1 billion of Cia. Providência, the largest non-woven fabric manufacturer (TNT) in a leveraged buyout by a private investment consortium; (iii) the sale of a 50% interest in Tecondi, the main port operator of containers in Santos, and; (iv) fair opinion counseling to the independent directors of Brasil Foods in its acquisition of shares of minority shareholders of Sadia in the amount of more than R$ 7 billion.
From 2000 to 2001, he was Co-Director of Brazil Investment Banking (Morgan Stanley, a major global investment bank). At Salomon Brothers / Citigroup, Global Corporate Investment Bank, he was Chief of Brazil Investment Banking, New York and São Paulo between 1995 and 2000. From 1992 to 1994, he held the position of Director of Stock Capital Markets, London and New York at S.G. Warburg & Co. / SBC Warburg, a major European investment bank. He was Assistant Corporate Financial Director at UBS Philips and Drew, a major European investment bank between 1990 and 1992.

Mário Fernando Macedo da Silva Alternate Member for José Maria Rabelo

Mr. Mário Fernando Macedo da Silva majored in History at Centro Universitário de Belo Horizonte - UNI-BH. Belo Horizonte/MG. From March 1982 to March 2017 he held the position of Administrative Support Technician at CEMIG. In the last five years, Mário Fernando Macedo da Silva was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

Paulo Henrique Rodrigues Coimbra Alternate Member for Alcione Maria Martins Comonian

Mr. Paulo Henrique Rodrigues Coimbra is an administrator, graduated in Accounting from Faculdades Doctum and in Public Management Technology from Fundação Educacional Nordeste Mineiro (FENORD). He holds a Technical Course in Administration and completed his higher school studies at Escola Técnica de Formação Gerencial (ETFG). He also holds an MBA in Strategic Business Management from Newton Paiva unversity. He held the positions of Assistant, Administrative Manager and General Manager at Coelmig Comércio e Construções Ltda. (2002 to 2007), being responsible for the Agreements and Contracts sector at the Caraí Municipal Government from 2009 to 2010. He held the positions of Accounting and Administrative Advisor in several companies and neighboring municipalities, Accountant of the City Hall of Ataléia - MG, Instructor of Industrial Learning in Administrative Processes - SENAI - TEÓFILO OTONI (2010 to 2011), Regional Coordinator of AMM (Associação Mineira de Municípios) - Regional Office - Vale do Jequitinhonha and Vale do Mucuri (2011 to 2014). He was also Executive Secretary, from 2014 to 2016, acting in the Intermunicipal Health Consortium between Vale do Mucuri and Vale do Jequitinhonha (CIS-EVMJ) and Manager of Centro Viva Vida and Hiperdia. In the last five years, Paulo Henrique Rodrigues Coimbra was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

Romulo Greficce Miguel Martins Alternate Member for François Moreau

Mr. Romulo Greficce Miguel Martins is a lawyer and has extensive experience in leading positions as administrative-financial manager, commercial manager, contracts and quality, skills in negotiations, planning and budgets. He held the position of Legislative Assistant at the Belo Horizonte City Council (2001 to 2002), at the Interamerican Development Bank (2005-2008), worked as a translator/interpreter (2005), was a Teacher at the Sciedade Agostiniana de Educação - Colégio Magnum (2005-2008), was the Partner Director at House of English (2009 a 2015), served as a Lawyer - Coordinator at the AAH Advocacia e Consultoria Jurídica law firm (2015 to 2017) and currently holds the position of Lawyer - Partner at the MGS Advocacia e Consultoria Jurídica law firm. In the last five years, Romulo Greficce Miguel Martins was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

Cesar Augusto Ramirez Rojas Alternate member for Bernardo Vargas Gibsone

Since 2014 - Vice-president of Transporte de Energía, ISA. Colombia: Responsible for the new structure of ISA, following a defined strategy to achieve the Company‘s 2020 Vision, articulating operations and maintenance processes, project management, engineering, supply and innovation, seeking to capture efficiency, through the establishment of guidelines for the management and application of best practices in both ISA and its subsidiaries. 2009 - 2014 - President of CTEEP - Companhia de Transmissão de Energia Elétrica - São Paulo, Brazil: During the period, it was deepened in alignment of CTEEP‘s strategy with that of ISA with respect to growth targets, establishing in 2016 an annual revenue target of R$ 3,500 million and also in the pursuit of operational excellence and quality of service, which led to CTEEP to be a reference company in ANEEL, for the definition of O&M expenditure indicators. Also during this period it presented the highest indices of asset availability among the companies in the sector. In 2009, the technical, financial and organizational structuring was initiated for the development of projects obtained through the 2008 bids, such as the Rio Madeira interconnection project, in partnership with two Eletrobrás subsidiaries, with CTEEP holding 51.1% And investment of R $ 3,541 million; the construction of 5 substations in the State of São Paulo, with an investment of R$ 363 million, 100% owned by CTEEP, and the construction of 3 transmission lines and 2 substations in the states of Santa Catarina, Rio Grande do Sul and Paraná, With an investment of R$ 203 million, in partnership with the company CYMI of Spain. In 2009, ISA coordinated an international public bidding, obtaining the concession of two substations in the State of São Paulo, with an investment of R$ 182 million, with a 100% ownership interest in CTEEP. In 2011, it won the concession of 4 transmission lines and 2 substations, with an investment of R$ 635 million, in partnership with CHESF, Company of the Eletrobrás Group, with CTEEP holding 50.1% of the shareholding. It was also successful in obtaining the concession of a substation in the state of São Paulo, with an investment of R$ 43 million and 100% of CTEEP‘s shareholding. With the development of strategies, jointly with several associations, unions, members of parliamentary committees, ANEEL, Ministries of Mines and Energy and Finance, the Brazilian government obtained the indemnification of assets prior to 2000. The proposal of the Government was presented to the Board of Directors of the Company and the Shareholders‘ Meeting, and the recommendation for renewal of the concession contract nº 59 was approved for over 30 years. In addition to the recognition of approximately R$ 3,000 million reais for assets after 2000, and its final value is pending. 2005 - 2009 - Corporate Strategy Manager - ISA. Colombia: Responsible for the Strategic Direction of the Company, seeking the alignment of the Group companies with the strategy defined by the ISA Board. Within the growth process, it is important to highlight the efforts in the search and structuring of businesses, which culminated in acquisitions by CTEEP in Brazil and Consorcio Transmantaro in Peru. It is also worth mentioning the concession of the Madeira River concession, 5 Substations in the State of São Paulo and the interconnection between the states of Tocantins, Maranhão and Piauí in Brazil. In Peru, the Chilca-La Planicie-Zapallal transmission line concession was obtained. 1998 - 2005 - Administrative Manager of ISA. Colombia: Responsible for Human Development, Organizational Development, Information Technology and Logistics. Participation in Boards of Directors: Colombia: INTERCOLOMBIA y Transelca; Brazil: CTEEP and ISA Capital de Brasil; Peru: REP, Consorcio Transmantaro and ISA Peru; Chile: Interchile and Panama: Interconexión Colombia Panamá.

Gustavo Carlos Marin Garat Alternate member for Hermes Jorge Chipp

From February 2015 to present - Executive Vice President of First Data Corporation (FDC), Latin American Director and Member of the Management Committee; from January 2016 to July 2013 - CEO of Citibank Brasil and Regional CEO of Citibank‘s Southern Cone - Brazil, Argentina, Uruguay and Paraguay (since February 11). Responsible for all operations (Banco do Consumidor and Banco Corporativo e de Investimento) in this geography, with total Revenues and EBIT higher than $ 4.5Bi and $ lBi, respectively (2011). Member of the Management Committee of the World Bank of Consumer of Citibank; From January 2004 to January 2006 - Citibank Latin America and Brazil - Director of Corporate and Investment Bank, Latin America (except Mexico) and Corporate Director of the Country (CCO). Responsible for the franchise of Corporate Banking and Investment Services in Latin America, except Mexico, while remaining as Corporate Director of the Country in Brazil. Member of the Management Committee of GCIB (Global Corporate and Investment Bank) of Citibank. From June 2001 to January 2004 - Citibank Brazil - CCO and Business Manager in the Country of the Corporate and Investment Bank (CBM). Responsible for the franchise of Corporate and Investment Banking Services and Senior Director of the Country and legal representative of all commercial operations active in the country. From March 1998 to June 2001 - Citibank Brazil - CBM of the Corporate and Investment Bank. From February 1996 to March 1998 - Citibank Peru - CCO and Banco Corporativo and CVM Investment. From January 1993 to February 1996 - Citibank Paraguay - CCO and Corporativo e de Investimento and CBM Banco. From May 1981 to January 1993: Citibank Uruguay. He was also a member of the Economic and Social Development Council, Advisory Council of President Lula (2001-2005); Member of the Advisory Board of BM & F, Bolsa de Futuros do Brasil (before the merger with Bovespa, Brazilian Stock Exchange); Member of the Advisory Board of Thompson Reuters - resigned in July 2013; Member of the INSEAD Advisory Board - resigned in July 2013; and Counselor, FEBRABAN - resigned in 2013.

Fernando Augusto Rojas Pinto Alternate member for Fernando Bunker Gentil

Mr. Rojas is an Electrical Engineer graduated from "Universidad Nacional de Colombia" (1978), Specialist in Finance from "Universidad EAFIT" and Master in Electrical Power Systems from the University of Manchester (1983). He joined ISA as an Engineer in 1979 and served as Head of Programming and Analysis, Market Director, Connection Manager, Energy Transportation Services Manager and Manager of the South American Region. He is currently President of Isa Capital do Brasil S/A, created for the acquisition and control of the Companhia de Transmissão de Energia Elétrica Paulista - CTEEP.

Daniel Faria Costa Alternate member for José Maria Rabelo

Mr. Daniel Faria Costa earned a bachelor’s degree in Legal Sciences from Universidade Federal de Uberlândia in 1987, and post-graduate certification in Financial Management and in Business Management from Fundação Dom Cabral (1994 and 2000, respectively). He joined Banco do Brasil in 1979, having worked at several Divisions in different states and countries. He currently holds the position of New Business Director at Companhia Energética de Minas Gerais (CEMIG).

Arthur Maia Amaral Alternate member for José Afonso Bicalho Beltrão da Silva

Mr. Arthur Maia Amaral graduated in Pharmacy from UNIFENAS - Universidade José do Rosário Vellano - Alfenas/MG (2002), and completed a university extension program in Pharmacology (2003-2005) as well as post-graduate studies in Micro and Small Business Management from Universidade Federal de Lavras, UFLA/MG (2006-2008). He served as Mayor of Luminárias-MG for two terms: 2009-2012 and 2013-2016. He also served as Full Member of the Regional Board of Pharmacy of the State of Minas Gerais (2007-2010). He was CEO of Servas and Special Advisor to the Secretary of the State Government (2017-2018).

Marcelo Rocha Alternate member for Fernando Jorge Raimundo Nahas

Mr. Marcelo Rocha earned a Bachelor’s degree in Business Administration from Faculdade Cenecista de Varginha-MG in 1999, with post-graduate studies in Total Quality from SEBRAE-MG in 2002. He was Managing Partner at Mr. Micro Informática from 1996 to 2013. He served as Advisor of the Corporate Management Board - Furnas-RJ, from 2010 to 2011 and again from 2013 to 2015, and Full Member of the Board of Supervisors at Companhia Mineira de Promociones (Prominas) from 2015 to 2017.

Daniel Isaza Bonnet Alternate member for Fernando Ana Milena López Rocha

Mr. Daniel Isaza Bonnet graduated in Economics from University of Western Sydney in 2000 and studied Business Administration at Colegio de Estudios Superiores de Administración (CESA) (1996-1999). He was Founder and Managing Director at Ágora (2005-2017) and Executive and Financial Structuring Manager at Empresa de Metro de Bogotá S.A. from 2017 to 2018. He currently holds the position of Vice President of Growth and Business Development at ISA Colombia. He was an Alternate Member of the Board of Directors at Biomax S.A. from 2015 to 2017, and a Full Member of the Board of Directors at Empresa de Acueduto, Alcantarillado y Aseo de Bogotá, D.C. (EAB-ESP).

Robert Patrick Panero Alternate member for Celso Maia de Barros

2013 - Rio Novo Gold Inc. - President & CEO - Responsible for all aspects of management of this company listed on the Toronto Stock Exchange, developing activities in two gold mining projects in Brazil and one in Colombia. He recently completed a Final Feasibility Study for the Almas Project, Tocantins, including investment expenses, industrial plants, civil works, geology and metallurgical studies. Currently, he organized a financing package of USD 115 million, beginning construction in January 2018. From 2002 to 2013 - MDU Resources Brasil Ltda. - Chief Executive Officer of the Brazilian subsidiary "MDU Resources Group Inc.", a US-based energy & natural resources group, which is listed on the NY Stock Exchange with an estimated market value of USD 4 billion. Responsible for all aspects of the company‘s management, including business development, capital allocation, procurement identification, due diligence processes, investment analysis, strategic initiatives, budgeting and US GAAP reporting. Highlight: In May 2006, Companhia MDU Brasil entered into an association with Companhia Cemig and Companhia Brookfield Asset Management to acquire a 49.9% stake in the transmission line companies TBE, a financial transaction of USD 320 million. He participated as a member of the Board of Directors of three TBE companies, in addition to acting on the Finance, Corporate Governance, Remuneration and Audit Boards. In 2011-2012, he led the initiative to sell the transmission assets in a sale to Cemig, Celesc and Alupar, providing significant financial income to the MDU Group. MDU Brasil, together with a Brazilian developer, built a 220 MW natural gas thermoelectric plant at a cost of USD 125 million, obtaining the necessary licenses and financing in northeast Brazil in 2001. The long-term agreements for the supply of gas and the purchase of energy for this project were negotiated with the Petrobras Company. Financing agreements of USD 92 million and USD 56 million have been concluded with "U.S. Export Import Bank "and with the" National Bank of Brazilian Economic Development "in 2002 and 2003. The plant was sold to Petrobras in 2006, providing significant revenues for the MDU Group. From 1999 to 2001 - Chesterton Binswanger Brasil Ltda - Senior Vice President - Principal intermediary between the American and Brazilian partners of the Brazilian affiliate of Chesterton Binswanger, a US and English Real Estate Advisory Services Group. As Senior Vice President, he managed several projects for clients such as: Motorola; ExxonMobil; Siemens; Commscope; Aventis; Bloomberg and BASF. From 1993 to 1999 - Empire State Development Corporation ("ESDC"), Director - Privatization.
As Director of the Privatization Group of ESDC, the economic development company of the State Government of New York, he managed the sale of more than USD 100 million in state-owned real estate assets. He worked with the Latin American Secretariat of the ESDC and administered trade missions in Brazil and Mexico.

Board of Executive Officers

AESA’s Bylaws establish that its board of executive officers should consist of up to five officers: one Chief Executive Officer, Chief Financial Officer and Investor Relations Officer, one Technical Officer, one Chief Business Development Officer and Legal and Regulatory Officer, all of them elected by the Board of Directors for 3-year combined term of office, who can be dismissed at any time, cumulate positions is allowed, as well as the re-election of its members, fully or partially.

The Company’s executive officers are responsible for the day-to-day management of our business and for implementing the directives and policies adopted by the board of directors.

Our board of executive officers is currently composed of:

Name Position
Raul Lycurgo Leite Chief Executive Officer and Legal and Regulatory Officer

Mr. Raul Lycurgo Leite has a Master’s degree in International Law from the American University - Washington College of Law, in Washington (USA), a graduate degree from Fundação Getúlio Vargas in Tax Law and Policy and also in Economic and Business Law, and has a Bachelor’s degree in Law from Centro de Ensino Unificado de Brasília (CEUB). He acted as Federal Attorney for the Federal Attorney General’s Office (AGU) from 2002 to June 2017, when he left on leave. From 2002 to 2010 he worked in the Office of the General Counsel to the National Agency of Land Transportation (ANTT). From January 2011 to March 2015, he worked as Legal Adviser for the Ministry of Development, Industry and Foreign Trade (MDIC). On January 21, 2015 he was elected Chief Legal Officer of Companhia Energética de Minas Gerais ("Cemig"), holding such position until June 30, 2017.

Marcus Pereira Aucélio Chief Financial Officer and Investor Relations Officer

Mr. Marcus Pereira Aucélio has a degree in forest engineering from Universidade de Brasília - UnB, an Executive MBA in Finance from IBMEC and a post-graduate degree in Public Sector Economics from the Getulio Vargas - FGV in 2000. He began his career at the National Treasury in 1994, where he worked with the areas Operation of the Public Debt, Funds and Fiscal Operation, was the National Treasury Secretariat Advisory and National Treasury Secretariat Undersecretary of Fiscal Policy. He was Audit Committee member from several Companies such as AES Eletropaulo, Vale and Banco do Brasil. He was also Board of Directors member at Eletrobrás.

José Aloise Ragone Filho Business Development Officer

Mr. Ragone has Bachelor’s degree in Electrical Engineering from the Pontifícia Universidade Católica de Minas Gerais, with emphasis on Electric Power Systems. He holds an MBA in Business Management from the IBMEC Business School and several specialization courses in the energy area. His professional career began at Cemig, where he worked in the areas of management and coordination, operational and engineering. He also worked at Light Serviços de Eletricidade S.A., occupying the Superintendence of Operation and Maintenance. In 2011, he became Taesa’s CEO, remaining until May 2016. In June of that same year, he assumed the Director position at Antares Energia, being responsible for the coordination, planning and structuring of funding and acquisitions in the area of electricity.

Marco Antônio Resende Faria Technical Officer

He has a degree in Electrical Engineering from the Pontifical Catholic University of Minas Gerais - PUC / MG in 1987. He holds an MBA in Project Management and People FGV. His professional career that began in CEMIG (electricity generation, transmission and distribution) in 1978, held various positions. Over the past five years, the positions he held were as follows: (i) Manager Operation and Maintenance of Transmission, 2005-2009; and (ii) Integration Project Manager of the Company in 2009.

Fiscal Council

In accordance with Brazilian Corporation Law, the Fiscal Council is a corporate body independent of the administration of TAESA and its independent auditors. The Bylaws of TAESA provide for a standing Fiscal Council. The Fiscal Council is composed of at least three and at most five members, as well as an equal number of alternate members.

The main responsibilities of the Fiscal Council are to oversee the activities of the administration, review the Company’s financial statements and report their findings to shareholders.

The Fiscal Council is currently composed of:

Sitting Alternate
Marco Antônio de Rezende Teixeira Member of the fiscal council (sitting member)

Mr. Marco Antônio de Rezende Teixeira, is a lawyer, graduated from the Federal University of Minas Gerais. He is an effective server of the Companhia Brasileira de Trens Urbanos (CBTU). For more than 10 years, he served as legal advisor to the Regional Council of Economy of Minas Gerais (CORECON/MG). He held the position of Director of the Legal Department and also Superintendent of the Capital Development Superintendency (SUDECAP). He was Attorney General of the Municipality of Belo Horizonte. Since the year 2015, Mr. Marco has held positions on the boards of directors of the following institutions: CEMIG, COPASA, MGS, METROMINAS and LIGHT. Currently holds the position of Secretary of State for Civil House and Institutional Relations of Minas Gerais. In the last 5 years, Marco Antônio de Rezende Teixeira, was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the CVM and any final and unappealable condemnation, in the judicial or administrative sphere, suspension or disqualification for the practice of any professional or commercial activity.

Helvécio Miranda Magalhães Junior Member of the fiscal council (sitting member)

Mr. Helvécio Miranda Magalhães Júnior, is a physician, graduated from the Faculty of Medicine of the Federal University of Minas Gerais. He was Municipal Secretary of Health of Belo Horizonte (2003 to 2008), Municipal Secretary of Planning, Budget and Information of Belo Horizonte (2009 to 2010), National Secretary of Health Care (2011 to 2014) and currently holds the positions of President of Board of Directors of PRODEMGE (since 2015), Chairman of the Board of Directors of BDMG (since 2015), Member of the Board of Directors of Companhia Energética de Minas Gerais, Cemig Distribuição SA, and Cemig Geração e Transmissão SA (since 2015) and also holds the position of Secretary of State for Planning and Management. In the last five years, Helvécio Miranda Magalhães Júnior was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the CVM and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

Manuel Domingues de Jesus e Pinho Member of the fiscal council (sitting member)

Mr. Manuel Domingues de Jesus e Pinho, is an accountant, graduated from the Faculdade de Ciências Contábeis e Administrativas Moraes Junior. Founder and CEO of Domingues e Pinho - Contadores, as well as founder and Member of GBRASIL - Brazil Group of Accounting Firms and member of IGAL - International Grouping of Accountants and Lawyers. Since the year 2014, he has served as Chief Financial Officer of the American, Chamber of Commerce for Brazil/Rio de Janeiro, already in the Brazil-Germany/Rio de Janeiro, Chamber of Commerce and Industry from 2006 to 2016, he also served as Vice President and Director. Between 2013 and 2015 he was Vice-President of the Brazil-Israel, Chamber of Commerce and Industry of Rio de Janeiro. Between 2010 and 2014, he was Chairman of the Fiscal Council and from 2014 to 2016, he was a member of the Advisory Board. Mr. Manuel was also a member of the British Chamber of Commerce and Industry in Brazil/Rio de Janeiro. From 2007 to 2018 he holds the position of member of the Deliberative Council of SESCON-RJ and Director Secretary. He holds a position as a member of the Regional Accounting Council of the State of Rio de Janeiro, which covers the period from 2014 to 2018. He is the Chairman of the Fiscal Council of CTEEP, with a mandate from 2006 to 2018, in the Deliberative Council of the Royal Portuguese Reading Office of Rio de Janeiro from 2011 to 2019. He also held the positions of AEBC/German School Corcovado - Deutsche Schule, served as Chairman of the Fiscal Council from 2005 to 2010, was Director of Human Resources and from 2010 to 2014 was a member of the Advisory Board. Manuel Domingues de Jesus e Pinho was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the CVM and any final and unappealable judgment, in the judicial or administrative sphere, that had the effect of suspending or disqualifying any professional or commercial activity.

Marcello Joaquim Pacheco Member of the fiscal council (sitting member)

Mr. Marcello Joaquim Pacheco is a lawyer specializing in Corporate Law. Currently, he holds the position of Executive Director of Marpache Serviços Especializados em Administração (since 2009). He has held the following positions: Secretary of the Fiscal Council of Anhanguera Educacional SA (2009), Secretary of the Fiscal Council of M&G Poléster SA (2009-2015). 2007/2009), Partner of Bonora, Kunrath, Moussa, Pacheco, Lawyers Associates - São Paulo, Legal Adviser of Mairiporã City Council (2006/2008), Chief of Staff of the Mairiporã City Council (2005/2006), Technical Advisor to the Cabinet - Mairiporã City Hall (2001/2004), Partner of the Law Firm Pacheco Ramos - (1997-2000), Legal Adviser of FM - collections and Services Ltda. (1997-1999), Trainee of the Public Ministry of the State of São Paulo (1995), Tax Attorney of the Municipality of Mairiporã (1996-1997), Monitor of the Public Law Department of the São Francisco University Law School (1993- 1995). Mr. Marcello holds a position on the fiscal council of the following institutions: Profarma Distribuidora de Produtos Farmacêuticos S/A, Eucatex SA Ind e Comércio, Tarpon Investimentos SA, Tegma Logistica SA, Rossi Residencial SA, Triunfo Participações e Investimentos SA and the board of directors of Companhia Energética de Brasília-CEB. He also served as Fiscal Counsel of Companhia Energética de Brasília - CEB, Deputy Fiscal Council member at Grendene (2015/2016), Deputy Fiscal Council member at Tegma Logistica SA (2015/2017), Deputy Fiscal Council Member of Têxtil Renauxview SA (2014/2015), Fiscal Council member of HRT Participação De Petróleo SA (2013/2014) and Fiscal Counsel of Duke Energy, Geração Paranapanema SA (2009/2013). She is a member of the IBGC (Brazilian Institute of Corporate Governance), Treasurer of the São Paulo State Bar Association, Legal and Tax Consultant for Heralds of the Gospel - International Association of Pontifical Law (Fiscal / Tributary and Environmental). In the last five years, Marcello Joaquim Pacheco was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the CVM and any final and unappealable judicial or administrative conviction that had the effect of suspending or disqualification for the practice of any professional or commercial activity.

Eduardo José de Souza Member of the fiscal council (Alternate)

Mr. Eduardo José de Souza holds a degree in Business Administration from the Instituto Cultural Newton Paiva Ferreira, with a post-graduate degree in Economics from Fundação Getúlio Vargas. He was a Senior Consultant at Gasmig (Companhia Energética de Minas Gerais - CEMIG) in 2009 and served as Consultant for matters related to Internal Audit, Integrated Risk Management and Internal Controls. He held positions at the Fiscal Council of Redentor Energia S.A., considering the period between 2011 and 2015, at the Fiscal Council of the Gas Company of Minas Gerais - Gasmig from 2011 to 2015, Chairman of the Fiscal Council of the Forluminas Social Security Foundation - FORLUZ. In the last five years, Eduardo José de Souza, was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the CVM and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

João Henrique de Souza Brum Member of the fiscal council (Alternate)

Mr. João Henrique de Souza Brum is an accountant, with a degree in Accounting Sciences from the Faculdade de Ciências Contábeis e Administrativas Moraes Júnior (current Mackenzie-Rio). Mr. João Henrique is Director General with a Business Management role in Accounting, Tax and Personnel at Domingues e Pinho Contadores. He has also served as Administrator of SES American and is a member of the American Chamber of Commerce for Brazil, Director and Treasurer of the Brazil-Germany Chamber of Commerce and Industry, member of the Financial Commission - IBEU (Brazil-United States Institute), alternate member of the Fiscal Council of CTEEP (Companhia de Transmissão de Energia Elétrica Paulista). In the period between 2013 and 2015, he served as Vice President of IGAL - International Grouping of Accountants and Lawyers, also served as a member of the Fiscal Council at Eletropaulo, Lowndes & Sons, Administradora Itahy and Brasfels S/A and as a member of the Gas and Energy of the American Chamber - Rio de Janeiro. In the last five years, João Henrique de Souza Brum was not subject to the effects of any criminal conviction, any condemnation or application of sentence in administrative proceedings before the CVM and any final and unappealable conviction, in the judicial or administrative sphere, that had the effect suspension or disqualification for the practice of any professional or commercial activity.

Murici dos Santos Member of the fiscal council (Alternate)

Mr. Murici dos Santos is a lawyer and also holds a degree in History from the Guarulhos University (2002). Currently, he conducts Corporate Governance Consulting, providing consulting and corporate advisory services in corporate and corporate governance areas, especially in the Fiscal Council positions as a member and alternate member of renowned Companies in the market. In recent periods, Mr. Murici has held and holds the following positions in Associated Bodies: Deputy Fiscal Council member of Drogasil S/A (2006/2008), Deputy Fiscal Council member of M&G Poléster SA (2006/2011), Chief Fiscal Counselor of Tafibrás Participações SA (2007/2008), Deputy Fiscal Council member of Bicicletas Monark SA (2008/2011), Fiscal Counselor of Banco Nossa Caixa SA (2008/2009), Chief Fiscal Counselor of Medial Saúde SA (2008/2009), alternate Fiscal Council member (2011/2010), Fiscal Council member of Companhia Paranaense de Energia - Copel (2010/2011), Deputy Fiscal Council member of Pettenati SA Indústria Têxtil (2011 / 2012), Fiscal Council Member of Anhembi Morumbi (2012/2013), Deputy Fiscal Council member of Cristal Pigmentos do Brasil SA (2013/2014), Deputy Fiscal Council member of HRT Participações em Petróleo SA (2013/2014), Deputy Fiscal Counselor (2014/current), Ross Paranapanema SA (2014/current), Rossi Residencial SA (2015/current), Tarpon Investimentos SA (2016/current) and Guarunapes Confecções SA (2014/2017), alternate fiscal member of Triunfo Participações e Investimentos SA ), Profarma Distribuidora de productos Farmacêuticos SA (2017/current) and Fiscal Counselor of Valid Validation and Security Services in Payment and Identification Means SA (2015/current), Companhia Distribuidora de Gas do Rio de Janeiro - CEG (2017/current) and Eucatex SA Indústria e Comércio (2017/current). He was President of the Privileges and Rights Commission of the São Paulo State Bar Association (Mairiporã sub-section) (2014/2015) and has been acting as Coordinator of the Superior School of Advocacy (ESA) since May 2016, subsection of Mairiporã. In the last five years, Murici dos Santos was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the CVM and any final and unappealable judicial or administrative conviction that had the effect of suspending or disqualification for the practice of any professional or commercial activity.

Francisco Luiz Moreira Penna Member of the fiscal council (Alternate)

Mr. Francisco Luiz Moreira Penna holds a degree in business administration from Faculdade de Ciências Administrativas do Centro Universitário in the city of Belo Horizonte, state of Minas Gerais. He was a Tax Council Member at Companhia Energética de Minas Gerais - CEMIG Serviços from 2013 to 2014, and at Cemig Telecom - Cemig Telecomunicações S.A. from 2010 to 2014, and was Chairman of the Tax Council in 2014. He was a member of the Tax Council at Redentor Energia S.A. between 2011 and 2014. Mr. Francisco was also a Tax Council member from 2013 to 2014 at Gasmig - Companhia de Gás de Minas Gerais and LIGHT, and member of the Tax Council from 2013 to 2014. The aforementioned administrator states that he was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

Ronald Gastão Andrade Reis Member of the fiscal council (Alternate)

Mr. Ronald Gastão Andrade Reis is a business administrator graduated from Pontifícia Universidade Católica de Minas Gerais - PUC/MG, with specialization in Economic and Financial Planning, held in Toronto, Canada. He was responsible for structuring the ONS Financial Management, where he held the position of Manager until 2002. Mr. Ronaldo is currently an alternate member of the Company‘s Tax Council, ONS advisor in the areas of Project and Finance Management and member of the Tax Council at Cemig Telecomunicações S.A. He has also been a member of the Tax Council at CEMIG, CEMIG GT and CEMIG Distribuição. The aforementioned administrator states that he was not subject to the effects of any criminal conviction, any conviction or application of sentence in administrative proceedings before the Brazilian Securities Commission (CVM) and any final and unappealable conviction, in the judicial or administrative sphere that had the effect of suspension or disqualification for the practice of any professional or commercial activity.

TAESA currently has four committees to advise the Board of Directors, with their members’ term of office coinciding with that of the members of the Board of Directors.

Management and Human Resources Committee

  • To recommend the Company’s operational strategies, interacting with executives in preparing the Strategic Plan, providing support in defining strategic and budgetary guidelines, general and specific targets, indicators, prospects and metrics;
  • To recommend guidelines for the execution of the Business Plan, formulation of strategy and for execution of the company’s yearly and multiyear plans;
  • To track the progress of the strategy and the operational tactics of the Executive Board;
  • To discuss specific annual targets and indicators;
  • To monitor and analyze the Company’s operating performance and risks, and check the compliance with targets, proposing strategic initiatives, providing information and knowledge to the Board of Directors;
  • To provide information for appraising the performance of the Executive Board;
  • To propose to the Board of Directors the corporate governance practices and rules;
  • To propose to the Board and the Shareholders’ Meeting the nominations and the remuneration policy, as well as to review and recommend the appraisal criteria for executives;
  • To examine and opine on the remuneration policies and monitor the implementation of the remuneration policy in the Company;
  • To recommend the investment policy to help in the preparation of Strategic Plans;
  • To evaluate the annual expenditure and investments programs, and the financial adjustments proposed by the Executive Board, and track their implementation;
  • Any of its members may monitor the management of superintendent officers and examine, at anytime, the Company’s books, documents and papers, request information about agreements executed or in the process of being executed and about any other actions deemed necessary;
  • Formally analyze on a periodical basis the performance results of the Company and of the Executive Board;
  • To recommend strategic alliances and development of new businesses;
  • To recommend the policy on employees’ profit sharing;
  • To recommend the guidelines for the market penetration strategy; and,
  • To recommend management guidelines and policies.

Members:

  • José Maria Rabelo
  • François Moreau
  • Marcelo Rocha
  • Rômulo Grefícce Miguel Martins
  • César Augusto Ramírez Rojas
  • Daniel Isaza Bonnet
  • Celso Maia de Barros
  • Fernando Augusto Rojas Pinto

Auditing Committee

  • To provide permanent assistance to the Board, monitoring the effectiveness of the processes for the preparation of financial reports and compliance with applicable tax laws, analyzing the reports and accompanying/supervising the external and internal auditors, always preserving their autonomy from the Company;
  • To propose to the Board of Directors the names of external auditors and the person responsible for the Company’s internal audit;
  • To evaluate and report the policies and the Company’s annual audit plan submitted by the person responsible, the internal audit team and their implementation;
  • To monitor the results of the Company’s internal audit and identify, prioritize and propose actions to be followed up by the Executive Board
  • To analyze and opine on the Company’s annual report and financial statements, and provide recommendations to the Board of Directors;
  • To monitor and ensure that the Company develops reliable internal controls;
  • To ensure the autonomy and objectiveness of internal audit;
  • To ensure that independent auditors review and evaluate the Executive Board and internal audit practices;
  • To analyze and opine on the action plans for correcting the processes and minimizing the risks identified; and
  • To observe the fundamental principles and Accounting Norms in Brazil while reporting the Company’s accounts and related acts.

Members:

  • José Maria Rabelo
  • Rômulo Grefícce Miguel Martins
  • François Moreau
  • Daniel Faria Costa
  • César Augusto Ramírez Rojas
  • Daniel Isaza Bonnet
  • Celso Maia de Barros
  • Fernando Augusto Rojas Pinto

Financial Committee

  • To analyze and evaluate the financial needs: capital structure, financial policies, cash flow, debt policy, capital structure and the Company’s risk;
  • To analyze the quarterly and annual reports and monitor the key financial indicators;
  • To evaluate the Fiscal / Tax plan;
  • To verify the investments: (i) financial and economic feasibility, (ii) implementation of annual investments plan (iii) return on investments and of risks;
  • To interact with the Executive Board in order to understand the priority financing requirements;
  • To analyze and evaluate dividend distribution proposals;
  • To verify the compliance with financial policies;
  • To analyze the compatibility between the shareholder remuneration level and the parameters set in the annual budget;
  • To analyze the consistency of the Company’s capital structure; and,
  • To review and recommend financing opportunities.

Members:

  • Paulo de Moura Ramos
  • Jorge Raimundo Nahas
  • Daniel Faria Costa
  • Alcione Maria Martins Comonian
  • César Augusto Ramírez Rojas
  • Daniel Isaza Bonnet
  • Robert Patrick Panero
  • Fernando Augusto Rojas Pinto

New Business Committee

Members:

  • José Maria Rabelo
  • François Moureau
  • Rômulo Grefícce Miguel Martins
  • Daniel Faria Costa
  • César Augusto Ramírez Rojas
  • Daniel Isaza Bonnet
  • Hermes Jorge Chipp
  • Fernando Augusto Rojas Pinto

Calendar

Investor Kit

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