demonstra??es financeiras em padr?es internacionais

(A free translation of the original in Portuguese)

Eneva S.A. - under court-supervised reorganization Quarterly Information (ITR) at March 31, 2015 and Report on Review of Quarterly Information

Report on Review of Quarterly Information To the Board of Directors and Shareholders Eneva S.A. - under court-supervised reorganization Introduction We have reviewed the accompanying parent company and consolidated interim accounting information of Eneva S.A. - under court-supervised reorganization (the Company), included in the Quarterly Information Form (ITR) for the quarter ended March 31, 2015, comprising the balance sheet as at that date and the statements of operations, comprehensive income, changes in equity and cash flows for the quarter then ended, and a summary of significant accounting policies and other explanatory information. Management is responsible for the preparation of the parent company interim accounting information in accordance with the accounting standard CPC 21, Interim Financial Reporting, of the Brazilian Accounting Pronouncements Committee (CPC), and of the consolidated interim accounting information in accordance with CPC 21 and International Accounting Standard (IAS) 34 - Interim Financial Reporting issued by the International Accounting Standards Board (IASB), as well as the presentation of this information in accordance with the standards issued by the Brazilian Securities Commission (CVM), applicable to the preparation of the Quarterly Information (ITR). Our responsibility is to express a conclusion on this interim accounting information based on our review. Scope of review We conducted our review in accordance with Brazilian and International Standards on Reviews of Interim Financial Information (NBC TR 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Basis for qualified conclusion As disclosed in Note 1, the Company filed a request for court reorganization on December 9, 2014 and decided to maintain the balances of certain financial liabilities without the financial charge adjustments as from that date, due to these balances were under negotiation with the Company's creditors and according to the Company management's expectations, such charges would not became due. As described in Notes 1 and 29, on April 30 and May 12, 2015 the Judicial Recovery Plan was approved by the creditors and approved by court respectively, which results on the unenforceability of these financial charges from the dates of these approvals. However, the terms of borrowing contracts still effective as at March 31, 2015, foreseeing, establish the financial charge adjustments. As a result, the Company's current liabilities, as at March 31, 2015, is understated by R$ 191.398 thousand and the equity and the loss for the quarter then ended are overstated and understated, respectively in the same amount.

Qualified conclusion on the parent company interim information

Based on our review, except for the effects of the matter described in the basis for qualified conclusion paragraph, nothing has come to our attention that causes us to believe that the accompanying parent company interim accounting information included in the quarterly information referred to above has not been prepared, in all material respects, in accordance with CPC 21 applicable to the preparation of the Quarterly Information, and presented in accordance with the standards issued by the CVM.

Qualified conclusion on the consolidated interim information Based on our review, except for the effects of the matter described in the basis for qualified conclusion paragraph, nothing has come to our attention that causes us to believe that the accompanying consolidated interim accounting information included in the quarterly information referred to above has not been prepared, in all material respects, in accordance with CPC 21 and IAS 34 applicable to the preparation of the Quarterly Information, and presented in accordance with the standards issued by the CVM.

Emphasis of matter Going Concern As mentioned in further details in Note 1, on December 9, 2014 Eneva S.A. - under court-supervised reorganization - filed a request for court-supervised reorganization in the State of Rio de Janeiro Capital Judicial District. On December 16, 2014, the Court of the 4th Corporate Court of the State of Rio de Janeiro Capital decided to grant the processing of the court-supervised reorganization of the Company and its subsidiary ENEVA Participaes S.A. under court-supervised reorganization. On February 12, 2015, the Company presented the Reorganization Plan to the 4th Corporate Court of the State of Rio de Janeiro Capital. On April 30, 2015, the general meeting of creditors, under the terms of the related Law, approved the aforementioned plan, which was approved by Court on May 12, 2015. Additionally, the Company recorded, at March 31, 2015, accumulated losses of R$ 4,006,590 thousand, loss for the quarter of R$ 128,610 thousand and excess of current liabilities over current assets of R$ 2,101,899 thousand and R$ 2,879,822 thousand in the parent company and consolidated financial statements, respectively. Therefore, the reversal of that situation of accumulated deficit and the readjustment of the financial and equity structure of the Company depend on the success of the measures adopted in reorganization plan, as detailed in Note 1. This situation raises significant doubt as to the ability of the Company to continue as a going concern. No adjustments arising from the uncertainties involved were included in the financial information. Our conclusion is not qualified in respect of this matter. Other matters Statements of value added We have also reviewed the parent company and consolidated statements of value added for the quarter ended March 31, 2015. These statements are the responsibility of the Companys management, and are required to be presented in accordance with standards issued by the CVM applicable to the preparation of Quarterly Information (ITR) and are considered supplementary information under IFRS, which do not require the presentation of the statement of value added. These statements have been submitted to the same review procedures described above and, based on our review, except for the effects of the matter described in the basis for qualified conclusion paragraph, nothing has come to our attention that causes us to believe that they have not been prepared, in all material respects, in a manner consistent with the parent company and consolidated interim accounting information taken as a whole. Rio de Janeiro, May 14, 2015

PricewaterhouseCoopers Auditores Independentes CRC 2SP000160/O-5 F RJ Guilherme Naves Valle Contador CRC 1MG070614/O-5 "S" RJ

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1

Contents

Company details

Break-down of Paid-in Capital 1

Individual Financial Statements

Balance sheet - Assets 2

Balance sheet - Liabilities 3

Statement of income 4

Statement of Comprehensive Income 5

Statements of Cash Flow 6

Statements of Changes in Shareholders Equity

DMPL - 01/01/2015 to 03/31/2015 7

DMPL - 01/01/2014 to 03/31/2014 8

Statements of Added Value 9

Consolidated Financial Statements

Balance Sheet Assets 10

Balance Sheet - Liabilities 11

Statement of Income 12

Statement of Comprehensive Income 13

Statements of Cash Flow 14

Statements of Changes in Shareholders Equity

DMPL - 01/01/2015 to 03/31/2015 15

DMPL - 01/01/2014 to 03/31/2014 16

Statements of Added Value 17

Other information that the Company deemed relevant 18

Reports and statements Fiscal Council Report or Equivalent Body 23

Directors' Declaration on the Financial Statements 24

Directors' Declaration on the Independent Auditors' Report 25


Company Data / Capital Breakdown

Number of Shares Current Quarter (thousand) 03/31/2015

Issued Capital

Common 840,106

Preferred 0

Total 840,106

Treasury stock

Common 0

Preferred 0

Total 0

PAGE: 1 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Individual Financial Statements / Balance Sheet - Assets

(Thousands of Reais) Account Account Description Current Quarter Previous Year Code 03/31/2015 12/31/2014

1 Total Assets 3,661,904 3,729,971

1.01 Current Assets 363,816 386,513

1.01.01 Cash and Cash Equivalents 51,642 72,502

1.01.01.01 Cash and Bank deposits 4,530 4,055

1.01.01.02 Fundo Multimercado MPX 63 47,112 68,447

1.01.06 Recoverable Taxes 10,368 12,255

1.01.06.01 Current Taxes Recoverable 10,368 12,255

1.01.07 Prepaid Expenses 2 3

1.01.08 Other Current Assets 301,804 301,753

1.01.08.01 Non-current assets for sale 300,000 300,000

1.01.08.03 Others 1,804 1,753

1.01.08.03.01 Other Advances 1,762 1,712

1.01.08.03.04 Secured deposits 42 41

1.02 Non-current Assets 3,298,088 3,343,458

1.02.01 Long-Term Assets 1,073,530 1,101,204

1.02.01.07 Prepaid Expenses 786 786

1.02.01.09 Other Non-current Assets 1,072,744 1,100,418

1.02.01.09.03 Gain on derivatives 21,122 21,122

1.02.01.09.07 Recoverable Taxes 38,325 33,237

1.02.01.09.08 Accounts receivable from other related parties 61,494 62,627

1.02.01.09.09 AFAC at Subsidiaries and Joint Ventures 164,610 248,000

1.02.01.09.11 Loan at Subsidiaries and Joint Ventures 709,626 691,287

1.02.01.09.12 Accounts receivable from Subsidiaries and Joint Ventures 77,565 44,143

1.02.01.09.14 Other Accounts Receivable 2 2

1.02.02 Investiments 2,210,651 2,228,139

1.02.02.01 Equity Interests 2,210,651 2,228,139

1.02.02.01.01 Interests in Associated Companies 97,483 97,483

1.02.02.01.02 Interests in Subsidiaries 1,485,069 1,486,453

1.02.02.01.03 Interests in Joint Ventures 566,004 582,108

1.02.02.01.04 Other Equity Interests 62,095 62,095

1.02.03 Property, plant and equipment 10,982 11,238

1.02.04 Intangible assets 2,925 2,877 PAGE: 2 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Individual Financial Statements / Balance Sheet Liabilities (Thousands of Reais) Account Account Description Current Quarter Previous Year Code 03/31/2015 12/31/2014

2 Total Liabilities 3,661,904 3,729,971

2.01 Current Liabilities 2,465,715 2,229,070

2.01.01 Social and labor obligations 6,591 6,742

2.01.01.02 Labor Obligations 6,591 6,742

2.01.02 Trade payables 13,547 11,737

2.01.02.01 Domestic Trade Payables 13,547 11,737

2.01.03 Tax Obligations 2,146 1,602

2.01.03.01 Federal Tax Liabilities 2,146 1,602

2.01.03.01.01 Income taxes and contributions payable 2,146 1,602

2.01.04 Loans and Financing 2,433,591 2,199,149

2.01.04.01 Loans and Financing 2,433,591 2,199,149

2.01.04.01.01 In local currency 2,433,591 2,199,149

2.01.05 Other liabilities 9,840 9,840

2.01.05.02 Others 9,840 9,840

2.01.05.02.07 Profit Sharing 9,749 9,749

2.01.05.02.09 Other liabilities 91 91

2.02 Non-current Liabilities 181,572 357,885

2.02.01 Loans and Financing 0 182,749

2.02.01.01 Loans and Financing 0 182,749

2.02.01.01.01 In local currency 0 182,749


2.02.02.01 Related-Party Transactions 174,760 171,595

2.02.02.01.04 Debts with Other Related Parties 174,760 171,595

2.02.04 Provisions 6,812 3,541

2.02.04.02 Other Provisions 6,812 3,541

2.02.04.02.05 Negative Equity 6,812 3,541

2.03 Shareholders Equity 1,014,617 1,143,016

2.03.01 Realized Capital 4,707,088 4,707,088

2.03.02 Capital Reserves 350,980 350,771

2.03.02.04 Options awarded 350,980 350,771

2.03.05 Retained Earnings/Accumulated Losses -4,006,590 -3,877,982

2.03.06 Equity Appraisal Adjustments -36,861 -36,861 PAGE: 3 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Individual Financial Statements Statement

of Income (Thousands of Reais) Account Account Description Accrued value of the Accrued value of the Code Current Year Prior Year 01/01/2015 to 03/31/2015 01/01/2014 to 03/31/2014

3.04 Operating Income/Expenses -103,050 -41,589

3.04.02 General and Administrative Expenses -18,452 -28,324

3.04.02.01 Personnel and Management -8,472 -13,287

3.04.02.02 Other Expenses -106 -11,925

3.04.02.03 Outsourced Services -7,759 -525

3.04.02.04 Depreciation and Amortization -634 -1,348

3.04.02.05 Leasing and Rentals -1,481 -1,239

3.04.04 Other Operating Income 60 21,870

3.04.04.01 Sale of PGN (OGX Maranho) 0 21,858

3.04.04.02 Other 60 12

3.04.05 Other Operating Expenses -9,194 -129

3.04.05.01 Unsecured Liability -3,272 36

3.04.05.02 Provision for investment losses 0 -165

3.04.05.03 Losses on the sale of assets -4,940 0

3.04.05.06 Other -982 0

3.04.06 Equity in Net Income of Subsidiaries -75,464 -35,006

3.05 Earnings before financial income/loss and tax -103,050 -41,589

3.06 Financial Income/Loss -25,560 -30,342

3.06.01 Financial Revenue 28,062 62,753

3.06.01.01 Exchange Variance Gain 0 19,137

3.06.01.02 Interest-earning bank deposits 1,575 1,459

3.06.01.03 Derivative Financial Instruments 0 9,036

3.06.01.05 Other Financial Revenue 82 61

3.06.01.06 Interest on loans 26,405 33,060

3.06.02 Financial Expenses -53,622 -93,095

3.06.02.01 Exchange Variance Loss -51,693 -15,149

3.06.02.03 Debenture Interest/Cost -27 -211

3.06.02.05 Debt charges -1,222 -75,421

3.06.02.06 Other Financial Expenses -680 -2,314

3.07 Earnings before tax on net income -128,610 -71,931

3.09 Net Income from Continued Operations -128,610 -71,931

3.11 Net Income/Loss for the Period -128,610 -71,931 3.99 Earnings per Share - (Reais / Share) 3.99.1 Basic Earnings per Share 3.99.01.01 Common -0.15309 -0.26803

PAGE: 4 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Individual Financial Statements Comprehensive

Statement of Income (Thousands of Reais) Account Account Description Accrued value of the Accrued value of the Code Current Year Prior Year 01/01/2015 to 03/31/2015 01/01/2014 to 03/31/2014

4.01 Net Income for the Period -128,610 -71,931

4.02 Other Comprehensive Income 0 -765

4.02.02 Effective portion of the changes in fair value of cash flow hedges - hedge accounting 0 -1,160

4.02.03 Deferred income and social contribution taxes - hedge Accounting 0 395

4.03 Comprehensive Income for the Period -128,610 -72,696

PAGE: 5 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Individual Financial Statements / Statement of Cash Flows

Indirect Method (Thousands of Reais) Account Account Description Accrued value of the Accrued value of the Code Current Year Prior Year 01/01/2015 to 03/31/2015 01/01/2014 to 03/31/2014

6.01 Net Cash from Operating Activities 3,044 196,235

6.01.01 Cash Provided by Operating Activities 7,629 -5,588

6.01.01.01 Net income/loss before IR and CSLL -128,610 -71,931

6.01.01.02 Depreciation and Amortization 636 525

6.01.01.03 Equity in net income of subsidiary and associated companies 75,464 35,006

6.01.01.04 Operations with derivative financial instruments 0 -9,036

6.01.01.05 Stock Options Awarded 209 4,671

6.01.01.07 Investment devaluation 4,940 165

6.01.01.08 Provision for Unsecured Liabilities 3,272 -36

6.01.01.13 Debenture Interest/Cost 26 211

6.01.01.15 Interest on loans and related parties 51,692 34,837

6.01.02 Changes in Assets and Liabilities -7,857 202,067

6.01.02.01 Other Advances -50 -143

6.01.02.02 Prepaid Expenses 2 0

6.01.02.05 Recoverable Taxes -3,201 -2,575

6.01.02.09 Taxes, Duties and Contributions 544 -134

6.01.02.10 Trade payables 1,810 1,840

6.01.02.11 Provisions and payroll charges -152 581

6.01.02.14 Related Parties -6,810 202,498

6.01.03 Other 3,272 -244

6.02 Net Cash from Investment Activities -23,877 -162,680

6.02.01 Acquisition of PPE and intangible assets -427 -547

6.02.04 Capital contribution/AFAC in investments -5,110 -92,170

6.02.07 Debt to related parties -18,339 -69,962

6.02.10 Escrow Deposits -1 -1

6.03 Net Cash from Financing Activities -27 -124,017

6.03.04 Amortization of Principal - Financing 0 -203,980

6.03.07 Loans and Financing Obtained 0 80,000

6.03.10 Issuance (payment) of debentures -27 -37

6.05 Increase (Decrease) in Cash and Cash Equivalents -20,860 -90,462

6.05.01 Opening Balance of Cash and Cash Equivalents 72,502 110,156

6.05.02 Closing Balance of Cash and Cash Equivalents 51,642 19,694 PAGE: 6 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version: 1 Individual Financial Statements - Statements of Changes in Shareholders Equity / DMPL -

01/01/2015 to 03/31/2015 (Thousands of Reais) Account Account Description Paid-in share Capital Reserves, Profit Reserves Retained Earnings or Other Comprehensive Shareholders Equity Code capital Options Awarded and Accumulated Losses Income

Treasury Stock

5.01 Opening Balances 4,707,088 350,771 0 -3,877,982 -36,861 1,143,016

5.03 Adjusted Opening Balances 4,707,088 350,771 0 -3,877,982 -36,861 1,143,016

5.04 Capital Transactions with Partners 0 209 0 0 0 209

5.04.03 Awarded Options Recognized 0 209 0 0 0 209

5.05 Total Comprehensive Income 0 0 0 -128,610 0 -128,610

5.05.02 Other Comprehensive Income 0 0 0 -128,610 0 -128,610

5.05.02.06 Loss for the Period 0 0 0 -128,610 0 -128,610

5.07 Closing Balances 4,707,088 350,980 0 -4,006,592 -36,861 1,014,615

PAGE: 7 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version: 1 Individual Financial Statements - Statements of Changes in Shareholders Equity / DMPL -

01/01/2014 to 03/31/2014 (Thousands of Reais) Account Account Description Paid-in share Capital Reserves, Profit Reserves Retained Earnings or Other Comprehensive Shareholders Equity Code capita Options Awarded and Accumulated Losses Income

Treasury Stock

5.01 Opening Balances 4,532,315 350,514 0 -2,360,800 -53,284 2,468,745

5.03 Adjusted Opening Balance 4,532,315 350,514 0 -2,360,800 -53,284 2,468,745

5.04 Capital Transactions with Partners 0 3,511 0 0 0 3,511

5.04.03 Awarded Options Recognized 0 3,511 0 0 0 3,511

5.05 Total Comprehensive Income 0 0 0 -71,931 1,160 -70,771

5.05.02 Other Comprehensive Income 0 0 0 -71,931 1,160 -70,771

5.05.02.01 Financial Instrument Adjustments 0 0 0 0 1,160 1,160

5.05.02.06 Loss for the Period 0 0 0 -71,931 0 -71,931

5.07 Closing Balances 4,532,315 354,025 0 -2,432,731 -52,124 2,401,485 PAGE: 8 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version: 1 Individual Financial Statements Statement of

Added Value (Thousands of Reais) Account Account Description Accrued value of the Accrued value of the Code Current Year Prior Year 01/01/2015 to 03/31/2015 01/01/2014 to 03/31/2014

7.01 Revenue -5,862 0

7.01.02 Other Revenue -5,862 0

7.02 Consumables acquired from third parties -8233 -12,447

7.02.02 Material, Energy, Outsourced Services and Other -8.233 -12,447

7.03 Gross Added Value -14,095 -12,447

7.04 Retentions -636 -525

7.04.01 Depreciation, Amortization and Depletion -636 -525

7.05 Net Added Value Produced -14,729 -12,972

7.06 Transferred Added Value -50,673 30,340



7.06.03 Other 23,134 63,825


7.06.03.02 Provision for Unsecured Liabilities -3,271 36

7.06.03.04 Provision for Loss on investments 0 -165



7.07 Total Added Value to be Distributed -65,402 17,368

7.08 Distribution of Added Value -65,402 17,368

7.08.01 Personnel 8,472 13,287

7.08.01.01 Direct Remuneration 4,368 8,402

7.08.01.02 Benefits 1,769 2,213

7.08.01.03 F.G.T.S. 2,335 2,672

7.08.02 Taxes, Duties and Contributions 8 319

7.08.02.01 Federal 8 319

7.08.03 Interest Expenses 54,726 75,693

7.08.03.01 Interest 27 211

7.08.03.02 Rent 1,481 1,348

7.08.03.03 Other 53,218 74,134

7.08.03.03.03 Insurance -376 398

7.08.03.03.04 Exchange Variance 51,693 -3,987

7.08.03.03.06 Financial Expenses 1,901 77,735

7.08.03.03.07 Other 0 -12

7.08.04 Interest earnings -128,610 -71,931

7.08.04.03 Retained Earnings/Loss for the Period -128,610 -71,931 PAGE 9 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version: 1 Consolidated Financial Statements / Balance Sheet - Assets


1 Total Assets 6,989,581 7,044,418

1.01 Current Assets 883,090 944,708

1.01.01 Cash and Cash Equivalents 180,941 157,319

1.01.01.01 Cash and Bank deposits 38,720 44,229

1.01.01.02 Fundos Multimercado MPX 63 119,589 85,084

1.01.01.04 CDB 22,632 28,006

1.01.03 Accounts Receivable 232,114 304,848

1.01.03.01 Clients 232,114 304,848

1.01.04 Inventories 94,403 99,185

1.01.06 Recoverable Taxes 31,048 32,354

1.01.06.01 Current Taxes Recoverable 31,048 32,354

1.01.07 Prepaid Expenses 30,098 42,081

1.01.08 Other Current Assets 314,486 308,921

1.01.08.01 Non-current assets for sale 300,000 300,000

1.01.08.03 Other 14,486 8,921

1.01.08.03.01 Other Advances 14,845 8,880

1.01.08.03.04 Escrow Deposits 42 41

1.01.08.03.05 CCC subsidies receivable -401 0

1.02 Non-current Assets 6,106,491 6,099,710

1.02.01 Long-Term Assets 790,233 742,745

1.02.01.06 Deferred Taxes 222,957 219,713

1.02.01.06.01 Deferred Income and Social Contribution Taxes 222,957 219,713

1.02.01.07 Prepaid Expenses 3,301 6,776

1.02.01.09 Other Non-current Assets 563,975 516,256

1.02.01.09.03 Gains on Derivatives 21,122 21,122

1.02.01.09.04 Escrow Deposits 86,494 62,070

1.02.01.09.07 Recoverable Taxes 42,873 37,575

1.02.01.09.08 Accounts receivable from other related parties 67,221 63,970

1.02.01.09.09 AFAC at joint ventures 110 26,250

1.02.01.09.11 Loan with joint ventures 248,264 284,774

1.02.01.09.12 Accounts receivable from joint ventures 97,889 20,493

1.02.01.09.13 Embedded derivatives 2 2

1.02.02 Investments 717,823 733,927

1.02.02.01 Equity Interests 717,823 733,927

1.02.02.01.01 Interests in Associated Companies 97,483 97,484

1.02.02.01.04 Other Equity Interests 620,340 636,443

1.02.03 Property, plant and equipment 4,401,860 4,423,466

1.02.04 Intangible assets 196,575 199,572

PAGE: 10 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version: 1 Consolidated Financial Statements / Balance Sheet - Liabilities


2 Total Liabilities 6,989,581 7,044,418

2.01 Current Liabilities 3,762,912 3,619,910

2.01.01 Social and labor obligations 14,167 14,934

2.01.01.02 Labor Obligations 14,167 14,934

2.01.02 Trade payables 140,502 149,785

2.01.02.01 Domestic Trade Payables 140,502 149,785

2.01.03 Tax Obligations 25,095 27,116

2.01.03.01 Federal Tax Liabilities 25,095 27,116

2.01.03.01.01 Income taxes and contributions payable 25,095 27,116




2.01.05 Debentures 153,894 138,880

2.01.05.02 Other 153,894 138,880

2.01.05.02.05 Contractual Retentions 19,196 20,945

2.01.05.02.07 Profit Sharing 16,592 16,591

2.01.05.02.09 Other liabilities 118,106 101,344

2.02 Non-current Liabilities 2,138,621 2,206,796





2.02.02.01 Related-Party Transactions 280,826 320,874

2.02.02.01.04 Debts with Other Related Parties 280,826 320,874

2.02.03 Deferred Taxes 11,656

10,978

2.02.03.01 Deferred Income and Social Contribution Taxes 11,656 10,978

2.02.04 Provisions 0 442

2.02.04.02 Other Provisions 0 442

2.02.04.02.05 Negative Equity 0 442

2.03 Consolidated Shareholders Equity 1,088,048 1,217,712

2.03.01 Realized Capital 4,707,088 4,707,088

2.03.02 Capital Reserves 350,980 350,771

2.03.02.04 Options Awarded 350,980 350,771

2.03.05 Retained Earnings/Accumulated Losses -4,014,349 -3,885,741

2.03.06 Equity Appraisal Adjustments -36,861 -36,861

2.03.09 Minority Interests 81,190 82,455

PAGE: 11 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Consolidated Financial Statements Statement

of Income (Thousands of Reais) Account Account Description Accrued value of the Accrued value of the Code Current Year Prior Year 01/01/2015 to 03/31/2015 01/01/2014 to 03/31/2014

3.01 Revenue from goods sold and services rendered 373,784 586,771

3.02 Cost of goods and/or services sold -330,365 -494,779

3.03 Gross Profit 43,419 91,992

3.04 Operating Income/Expenses -53,819 -34,428

3.04.02 General and Administrative Expenses -25,986 -36,791

3.04.02.01 Personnel and Management -11,054 -15,292

3.04.02.02 Outsourced Services -12.076 -17,358

3.04.02.03 Leasing and Rentals -1,580 -768

3.04.02.04 Depreciation and Amortization -824 -1,528

3.04.02.05 Other Expenses -460 -1,845

3.04.04 Other Operating Income 245 21,870


3.04.04.02 Other 245 12

3.04.05 Other Operating Expenses -225 -12,146

3.04.05.01 Unsecured liability -2,035 110

3.04.05.02 Provision for investment losses 25 -6,718

3.04.05.03 Losses on the sale of assets -4,940 0

3.04.05.06 Other 6,725 -5,538


3.05 Earnings before financial income/loss and tax -10,400 57,564

3.06 Financial Income/Loss -119,793 -124,294


3.06.01.01 Exchange Variance Gain 2,734 21,368

3.06.01.02 Interest-earning bank deposits 5,574 5,433


3.06.01.05 Other Financial Revenue 409 874


3.06.02 Financial Expenses -141,373 -174,811

3.06.02.01 Exchange Variance Loss -51,869 -16,012

3.06.02.03 Debenture Interest/Cost -27 -211

3.06.02.05 Debt charges -80,494 -149,417

3.06.02.06 Other Financial Expenses -8,983 -9,171

3.07 Earnings before tax on net income -130,193 -66,730

3.08 Income and social contribution taxes on profit 2,287 -3,836

3.08.01 Current -280 -2,733

3.08.02 Deferred charges 2,567 -1,103

3.09 Net Income from Continued Operations -127,906 -70,566

3.11 Consolidated Net Income/Loss for the Period -127,906 -70,566

3.11.01 Attributed to Partners of the Parent Company -128,609 -71,931

3.11.02 Attributed to Minority Partners 703 1,365 3.99 Earnings per Share - (Reais / Share) 3.99.1 Basic Earnings per Share 3.99.01.01 Common -0,15225 -0,26295

PAGE: 12 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Consolidated Financial Statements Comprehensive

Statement of Income (Thousands of Reais) Account Account Description Accrued value of the Accrued value of the Code Current Year Prior Year 01/01/2015 to 03/31/2015 01/01/2014 to 03/31/2014

4.01 Consolidated Net Income for the Period -127,907 -70,566

4.02 Other Comprehensive Income 0 -765

4.02.02 Effective portion of the changes in fair value of cash flow 0 -1,160 hedges - hedge accounting

4.02.03 Deferred income and social contribution taxes - hedge 0 395 Accounting 4.03 Consolidated Comprehensive Income for the Period -127,907 -71,331

4.03.01 Attributed to Partners of the Parent Company -128,610 -72,696

4.03.02 Attributed to Minority Partners 703 1,365

PAGE: 13 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Consolidated Financial Statements / Statement of Cash Flows

Indirect Method (Thousands of Reais) Account Account Description Accrued value of the Accrued value of the Code Current Year Prior Year 01/01/2015 to 03/31/2015 01/01/2014 to 03/31/2014

6.01 Net Cash from Operating Activities 35,335 146,440

6.01.01 Cash Provided by Operating Activities 60,340 47,011

6.01.01.01 Net Income / Loss Before of IR and CSLL -130,193 -66,728

6.01.01.02 Depreciation and Amortization 41,989 48,711

6.01.01.03 Equity in net income of subsidiary and associated companies 27,845 7,361

6.01.01.04 Operations with derivative financial instruments 0 -9,036

6.01.01.05 Stock Options Awarded 209 4,671

6.01.01.07 Investment devaluation -25 6,718

6.01.01.08 Provision for Unsecured Liabilities 2,035 -110

6.01.01.09 Provision for Disassembly 0 51

6.01.01.13 Debenture Interest/Cost 27 211

6.01.01.15 Interest on loans and related parties 118,453 55,162

6.01.02 Changes in Assets and Liabilities -24,563 102,642

6.01.02.01 Other Advances -5,965 -782

6.01.02.02 Prepaid Expenses 15,456 -42

6.01.02.03 Accounts Receivable 72,733 -50,308

6.01.02.05 Recoverable Taxes -3,992 -8,063

6.01.02.06 Inventory 4,782 31

6.01.02.09 Taxes, Duties and Contributions -2,020 -8,427

6.01.02.10 Trade payables -9,283 6,969

6.01.02.11 Provisions and payroll charges -767 1,496

6.01.02.12 Accounts Payable 16,762 8,365

6.01.02.13 CCC subsidies receivable 401 -16,133

6.01.02.14 Debts / Credits with related parties -112,670 169,536

6.01.03 Other -442 -3,213

6.02 Net Cash from Investment Activities -2,289 -160,365

6.02.01 Acquisition of PPE and intangible assets -17,383 -62,597

6.02.04 Capital contribution/AFAC in investments -110 -28,529

6.02.05 Cash resulting from sale of property, plant and equipment 4,865 12 and intangible assets

6.02.07 Debt to related parties 36,511 -54,337

6.02.09 Contractual Retentions -1,748 -4,847

6.02.10 Escrow Deposits -24,424 -10,067

6.03 Net Cash from Financing Activities -9,424 -166,857

6.03.04 Amortization of Principal -9,397 -246,820

6.03.07 Borrowing 0 80,000

6.03.10 Issuance (payment) of debentures -27 -37

6.05 Increase (Decrease) in Cash and Cash Equivalents 23,622 -180,782

6.05.01 Opening Balance of Cash and Cash Equivalents 157,318 277,583

6.05.02 Closing Balance of Cash and Cash Equivalents 180,940 96,801 PAGE: 14 of 25


Consolidated Financial Statements - Statements of Changes in Shareholders Equity - 01/01/2015 to

03/31/2015 (Thousands of Reais)

Account Account Description Paid-in share Capital Reserves, Profit Reserves Retained Earnings Other Comprehensive Shareholders Equity Minority interests Consolidated

Shareholders Equity Code capital Options Awarded and or Accumulated Losses Income

Treasury Stock

5.01 Opening Balances 4,707,088 350,771 0 -3,885,741 -36,861 1,135,257 82,455 1,217,712

5.03 Adjusted Opening Balances 4,707,088 350,771 0 -3,885,741 -36,861 1,135,257 82,455 1,217,712

5.04 Capital Transactions with Partners 0 209 0 0 0 209 0 209

5.04.03 Awarded Options Recognized 0 209 0 0 0 209 0 209

5.05 Total Comprehensive Income 0 0 0 -128,610 0 -128,610 -1,265 -129,875

5.05.02 Other Comprehensive Income 0 0 0 -128,610 0 -128,610 -1,265 -129,875

5.05.02.07 Loss for the Period 0 0 0 -128,610 0 -128,610 702 -127,908

5.05.02.08 Interest of Non-controlling Shareholder 0 0 0 0 0 0 -1,967 -1,967 5.07 Closing Balances 4,707,088 350,980 0 -4,014,351 -36,861 1,006,856 81,190 1,088,046

PAGE: 15 of 25


Consolidated Financial Statements - Statements of Changes in Shareholders Equity / DMPL -

01/01/2014 to 03/31/2014 (Thousands of Reais)

Account Account Description Paid-in share Capital Reserves, Profit Reserves Retained Earnings Other Comprehensive Shareholders Equity Minority interests Consolidated

Shareholders Equity Code capital Options Awarded and or Accumulated Losses Income

Treasury Stock

5.01 Opening Balances 4,532,315 350,514 0 -2,379,303 -53,284 2,450,242 123,633 2,573,.875

5.03 Adjusted Opening Balances 4,532,315 350,514 0 -2,379,303 -53,284 2,450,242 123,633 2,573,.875

5.04 Capital Transactions with Partners 0 3,511 0 3,643 0 7,154 0 7,154

5.04.03 Awarded Options Recognized 0 3,511 0 0 0 3,511 0 3,511

5.04.09 Deferred Asset Adjustment 0 0 0 3,643 0 3,643 0 3,643

5.05 Total Comprehensive Income 0 0 0 -71,931 1,160 -70,771 1,370 -69,401

5.05.02 Other Comprehensive Income 0 0 0 -71,931 1,160 -70,771 1,370 -69,401

5.05.02.01 Financial Instrument Adjustments 0 0 0 0 1,160 1,160 0 1,160

5.05.02.07 Loss for the Period 0 0 0 -71,931 0 -71,931 1,365 -70,566

5.05.02.08 Interest of Non-controlling Shareholder 0 0 0 0 0 0 5 5

5.07 Closing Balances 4,532,315 354,025 0 -2,447,591 -52,124 2,386,625 125,003 2,511,628

PAGE: 16 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Consolidated Financial Statements Statement of

Added Value (Thousands of Reais) Account Account Description Accrued Value of the Accrued Value of the Code Current Year Prior Year 01/01/2015 to 03/31/2015 01/01/2014 to 03/31/2014

7.01 Revenue 396,757 600,606

7.01.01 Sales of Goods, Products and Services 419,308 586,771

7.01.02 Other Revenue 2,055 0

7.01.03 Revenue relating to construction of company assets -24,606 13,835

7.02 Consumables acquired from third parties -250,519 -348,025

7.02.02 Material, Energy, Outsourced Services and Other -250,519 -348,025

7.03 Gross Added Value 146,238 252,581

7.04 Retentions -41,989 -48,711

7.04.01 Depreciation, Amortization and Depletion -41,989 -48,711

7.05 Net Added Value Produced 104,249 203,870

7.06 Transferred Added Value -11,034 37,038



7.06.03 Other 10,828 38,092


7.06.03.02 Provision for Unsecured Liabilities -2,035 110

7.06.03.04 Provision for loss on investments 0 -6,718



7.07 Total Added Value to be Distributed 93,215 240,908

7.08 Distribution of Added Value 93,215 240,908

7.08.01 Personnel 25,494 28,312

7.08.01.01 Direct Remuneration 11,639 15,230

7.08.01.02 Benefits 7,683 6,518

7.08.01.03 F.G.T.S. 6,172 6,564

7.08.02 Taxes, Duties and Contributions 43,382 4,241

7.08.02.01 Federal 43,382 4,241

7.08.03 Interest Expenses 152,246 278 921

7.08.03.01 Interest 26 211

7.08.03.02 Rent 33,352 99,981

7.08.03.03 Other 118,868 178,729

7.08.03.03.02 Advances to suppliers -24,606 13,835

7.08.03.03.03 Insurance 4,862 6,137

7.08.03.03.04 Exchange Variance 49,135 -5,356

7.08.03.03.06 Financial Expenses 89,477 158,587

7.08.03.03.07 Other 0 5,526

7.08.04 Interest earnings -127,907 -70,566

7.08.04.03 Retained Earnings/Loss for the Period -128,610 -71,931

7.08.04.04 Minority interests in retained earnings 703 1,365

PAGE: 17 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Other information that the Company deemed relevant FEDERAL PUBLIC SERVICE CVM - THE SECURITIES COMMISSION OF BRAZIL ITR - Quarterly information Corporate Legislation COMMERCIAL COMPANY, INDUSTRIAL AND OTHER Data-Base 03/31/2015

02123-7 ENEVA S/A 04.423.567/0001-21

20.01 - OTHER INFORMATIONS THAT THE COMPANY DEEMED RELEVANT

As provided for in the Company's ByLaws, itself, its shareholders and managers are obliged to resolve through arbitration any and all dispute or controversy that may arise between them related or arising from, in particular, the application, validity, effectiveness, interpretation, violation and its effects, of the provisions contained in the Brazilian Corporate Law, in the statute itself, the rules issued by the National Monetary Council by the Central Bank of Brazil and the Brazilian Securities Exchange Commission, as well as other regulations applicable to the operation of the capital market in general, beyond those included in the Novo Mercado Listing Rules, the Rules of the Arbitration Panel of the Market and the Novo Mercado Participation Agreement.

On March 31, 2015, the Company's capital stock was composed of 840,106,107 common shares, distributed as follows:

CONSOLIDATED SHARESHOLDERS POSITION OF CONTROLLING SHAREHOLDERS

AND MANAGERS AND OUTSTANDING SHARES Position on 03/31/2015

Number of Total number Shareholder common shares % of shares %

(units) (units) Controller 528,461,557 62.90 528,461,557 62.90

Managers

Board of Directors 0 0.01 0 0.00

Executive Board 45,678 0.00 45,678 0.01

Supervisory Board * - - - -

Treasury Stock 0 0.00 0 0,00

Other Shareholders 311,598,872 37.09 311,598,872 37.09

Total 840,106,107 100 840,106,107 100

Oustanding Shares 311,598,872 37.09 311,598,872 37.09

* On 03/31/2015 there was no Supervisory Board installed in the Company.

On 05/26/2011 a capital increase of the Company was carried out in accordance with the Board of Directors Meeting of 03/24/2011 increasing the Company's number of shares of 136,692,680 to 136,720,840 resulting from the exercise of subscribing stock options.

In February 2012, the increase of the Company's capital was carried out in accordance with the Board of Directors Meeting of 02/29/2012, through the issuance of 9,633 new shares, as a result of the conversion of 6,383 debentures out of the 21,735,744 debentures issued by the Company on June 15th, 2011. With this, the number of Company's shares has increased from current 136,720,840 to 136,730,473.

In March 2012, the increase of the Company's capital was carried out in accordance with the Board of Directors Meeting of 03/21/2012, through the issuance of 984 new shares, as a result of the conversion of 649 debentures, and through the issuance of 7,040 new common shares of no par value, resulting from the exercise of subscribing stock options within the Stock Option or the Company's Share Subscription Program. With this, the number of Company's shares has increased from current 136,730,473 to136,738,497

05/06/2015 11:18:02 Page: 1 PAGE: 18 of 25


02123-7 ENEVA S/A 04.423.567/0001-21

20.01 - OTHER INFORMATIONS THAT THE COMPANY DEEMED RELEVANT On 05/26/2011 a capital increase of the Company was carried out in accordance with the Board of Directors' Meeting of 05/09/2012 as a result of (i) the issuance of 4,112 new shares, and the conversion of 2,701 debentures; and (ii) the issuance of 125,620 new common shares of no par value, resulting from the exercise of subscribing stock options within the Stock Option or the Company's Share Subscription Program. With this, the number of Company's shares has increased from 136,738,497 to 136,868,229.

In the same month, a new capital increase took place in accordance to the first Board of Directors' Meeting of 05/24/2012, ratifying the issuance of 33,254,705 new common shares, nominative of no par value of the Company, resulting from the conversion of 21,652,966 debentures. With this, the number of Company's shares has increased from 136,868,229 to 170,122,934.

On 05/24/2012 ENEVAs Board of Directors approved an increase in the capital of the Company for the total amount of R$ 1,000,000,063.00 through the issuance of 22,623,796 new shares, however, the shares were only to exist upon completion of the capital increase with subsequent approval of the same, which was concluded in July 2012 and approved by the Board of Directors' Meeting held on July 25, 2012.

In June 2012 a new capital increase took place in accordance with the Board of Directors' Meeting of 06/15/2012, ratifying the issuance of 514 new common shares, nominative of no par value of the Company, as a result of the conversion of 334 debentures. With this, the number of shares has increased from 170,122,934 to 170,123,448.

On 06/25/2012, in Board of Directors' Meeting the increase in the capital of the Company was approved, at RCA held on 05/24/2012 at 11h approved in the amount of R$1,000,000,063.00 (one billion and sixty-three reais), within the limits of the authorized capital, due to the subscription and full payment of the 22,623,796 new common shares, nominative of no par value, by E.ON AG (E.ON). With this, the number of shares has increased from 170,123,448 to 192,747,244.

Pursuant to the Minutes of the Company's Extraordinary General Meeting held on 08/15/2012, the shareholders approved by unanimous vote, the split of common shares issued by the Company, whereby each one (1) common share existing now corresponds to three (3) shares of the same class. Entitled to receive of the split shares of ENEVAs shareholders ,based on the shareholding composition of August 15, 2012. With this, the number of shares has increased from 192,747,244 to 578,241,732.

In January 2013 a capital increase took place in accordance with the Board of Directors' Meeting of 01/10/2013, ratifying the issuance of 147,480 new common shares, resulting from the exercise of subscribing stock options within the Stock Option or the Company's Share Subscription Program, bringing the Company's number of shares to 578,389,212.

In February 2013 a capital increase took place, in accordance with the Board of Directors' Meeting of the day 02/06/2013, ratifying the issuance of 27,000 new common shares of no par value, resulting from the exercise of subscribing stock options within the Stock Option or the Company's Share Subscription Program, bringing the Company's number of shares to 578,416,212.

Nevertheless, there was a partial payment of the financial value to the capital increase, in a manner that the Capital Stock on 03/31/2013 totalizes R$ 3,736,269,091.89, a lower value than shown in the minutes of Board of Directors' Meeting of February 06, 2013. The remainder of the payment of the financial value to the capital increase was performed after the first quarter closure, which totalizes the Capital Stock to R$ 3,736,354,722.02.

In April 2013 a capital increase took place, in accordance with the Board of Directors' Meeting of the day 05/04/2013, ratifying the issuance of 34,500 new common shares of no par value, resulting from the exercise of subscribing stock options within the Stock Option or the Company's Share Subscription Program,

05/06/2015 11:18:02 PAGE: 2 PAGE: 19 of 25


02123-7 ENEVA S/A 04.423.567/0001-21

20.01 - OTHER INFORMATIONS THAT THE COMPANY DEEMED RELEVANT , bringing the Company's number of shares to 578,450,712. Due to the resolution above, the Company's capital passes from R$ 3,736,354,722.02 to R$ 3,736,468,820.55

In May 2013 a capital increase took place in accordance with the Board of Directors' Meeting of 05/08/2013, ratifying the issuance of 29,250 new common shares of no par value, resulting from the exercise of subscribing stock options within the Program of Option or the Company's Share Subscription, bringing the Company's number of shares to 578,479,962. Due to the resolution above, the Company's capital passes from R$ 3,736,468,820.55 to R$ 3,736,568,320.85

On 09/16/2013 at the Board of Directors' Meeting the increase in the Company's capital was approved in accordance with the Board of Directors' Meeting on July 3, 2013 in the value of R$ 799,999,995.15 within the limits of the authorized capital, due to the subscription and full payment of the 124,031,007 new common shares, nominative of no par value. With this, the number of shares has increased from 578,479,962 to 702,510,969. The Company's capital passes from R$ 3,736,568,320.85 to R$ 4,536,568,316.00.

In October 2013 a capital increase took place, in accordance with the Board of Directors' Meeting of the day 10/21/2013, ratifying issuance of 13,500 new common shares of no par value, resulting from the exercise of subscribing stock options within the Program of Option or the Company's Share Subscription, bringing the Company's number of shares to 702,524,469. Due to the resolution above, the Company's capital passes from R$ 4,536,568,316.00 to R$ 4,536,608,413.70

On 08/01/2014, at the Board of Directors' Meeting the increase in the Company's capital was approved in accordance with the Board of Directors' Meeting held on 05/09/2014 in the value of R$174,728,680.26 within the limits of the authorized capital, due to the subscription and full payment of the 137,581,638 new common shares, nominative of no par value. With this, the number of shares has increased from 702,524,469 to 840,106,107. The Company's capital passes from R$ 4,536,608,413.70 to R$ 4,711,337,093.96

Shareholding position of more than 5% of shareholders and each category and class of the Company to the level of individual shareholders

Company: ENEVA S.A. Position on 03/31/2015

Common shares* Total

Shareholder Quantity % Quantity %

E.ON 360,725,664 42.9% 360,725,664 42.9%

Other 151,499,940 18.0% 151,499,940 18.0%

Eike Fuhrken Batista 145,704,988 17.3% 145,704,988 17.3%

Centennial Asset Mining Fund LLC 20,08,840 2.4% 20,208,840 2.4%

Centennial Asset Brazilian Equity Fund LLC 1,822,065 0.2% 1,822,065 0.2%

FIA Dinmica Energia 87,494,400 1.,4% 87,494,400 10.4%

BNDESPAR 72,650,210 8.6% 72,650,210 8.6%

Total 840,106,107 100.0% 840,106,107 100.0%

* ENEVAs capital stock is only composed of common shares.

Distribution of the capital stock of the corporation (Company's shareholder) to the level of individual shareholders

05/06/2015 11:18:02 PAGE: 3 PAGE: 20 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 OTHER INFORMATIONS THAT THE COMPANY DEEMED RELEVANT FEDERAL PUBLIC SERVICE CVM - THE SECURITIES COMMISSION OF BRAZIL ITR - Quarterly information Corporate Legislation COMMERCIAL COMPANY, INDUSTRIAL AND OTHER Data-Base 03/31/2015

02123-7 ENEVA S/A 04.423.567/0001-21

20.01 - OTHER INFORMATIONS THAT THE COMPANY DEEMED RELEVANT

Company: Centennial Asset Mining Fund LLC Position on 12/31/2014

Shares Total

Shareholder Quantity % Quantity % Eike Fuhrken Batista 1,000 100 1,000 100 Total 1,000 100 1,000 100

Company: Centennial Asset Brazilian Equity Fund LLC Position on 12/31/2014

Shares Total

Shareholder Quantity % Quantity % Centennial Asset Mining Fund LLC 1,000 100 1,000 100 Total 1,000 100 1,000 100

For a better understanding, below follows a brief background of the corporate changes in ENEVA in one-year period:

On 05/27/2013, E.ON SE and Mr. Eike Fuhrken Batista (Parties), ENEVAs controlling shareholder, concluded the shareholders' agreement ("Agreement), in which the Parties have established the main terms and conditions that will govern their relationship as, and as well to remain them (pursuant to the termination provisions of the Agreement), ENEVAs shareholders aimed at a shared control by the Company Parties. E.ON and Mr. Eike Fuhrken Batista concluded an Investment Contract on March 27, 2013 regarding the acquisition of shares issued by ENEVA through E.ON owned by Mr. Eike Fuhrken Batista followed by private equity increase of ENEVA approved on 09/16/2013. On December 31, 2013, the Company's capital stock was composed of 702,524,469 common shares distributed as follows:

CONSOLIDATED SHARESHOLDERS POSITION OF CONTROLLING SHAREHOLDERS AND MANAGERS AND OUTSTANDING SHARES

Position on 12/31/2013

Shareholder Number of common shares Total number

of shares

(Units) % (Units) %

Controller 434,005,449 61.78 434,005,449 61.78

Managers

Board of Directors 155,155 0.02 155,155 0.02

Executive Board 485,700 0.07 485,700 0.07

Supervisory Board * - - - -

Treasury Stock - - - -

Other Shareholders 267,878,165 38.13 267,878,165 38.13

Total 702,524,469 100 702,524,469 100

Oustanding Shares 267,878,165 38.13 267,878,165 38.13

* For the fiscal year ended on 12/31/2014, the Supervisory Board was not installed by the Company's Annual Meeting.

05/06/2015 11:18:02 PAGE: 4 PAGE: 21 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 OTHER INFORMATIONS THAT THE COMPANY DEEMED RELEVANT

FEDERAL PUBLIC SERVICE CVM - THE SECURITIES COMMISSION OF BRAZIL ITR - Quarterly information Corporate Legislation COMMERCIAL COMPANY, INDUSTRIAL AND OTHER Data-Base 03/31/2015

02123-7 ENEVA S/A 04.423.567/0001-21

20.01 - OTHER INFORMATIONS THAT THE COMPANY DEEMED RELEVANT Shareholding position of more than 5% of shareholders of each type and class of the Company to the level of individual shareholders

Position on 12/31/2013

Company: ENEVA S.A. (shares)

Common shares* Total

Shareholder

Quantity % Quantity %

Eike Fuhrken Batista 145,704,988 20.7 145,704,988 20.7

Centennial Asset Mining Fund LLC 20,208,840 2.9 20,208,840 2.9

Centennial Asset Brazilian Equity Fund LLC 1,822,065 0.3 1,822,065 0.3

E.ON 266,269,556 37.9 266,269,556 37.9

BNDESPAR 72,650,210 10.3 72,650,210 10.3

Other 195,868,810 27.9 195,868,810 27.9

Total 702,524,469 100 702,524,469 100

Distribution of the capital stock of the corporation (Company's shareholder) to the level of individual shareholders

Company: Centennial Asset Mining Fund LLC Position on 09/30/2013

Shares Total

Shareholder Quantity % Quantity % Eike Fuhrken Batista 1,000 100 1,000 100 Total 1,000 100 1,000 100

Company: Centennial Asset Brazilian Equity Fund LLC Position on 09/30/2013

Shares Total

Shareholder Quantity % Quantity % Centennial Asset Mining Fund LLC 1,000 100 1,000 100 Total 1,000 100 1,000 100

05/06/2015 11:18:02 PAGE: 5 PAGE: 22 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Reports and statements / Fiscal council report or Equivalent body Not applicable.

PAGE: 23 of 25

ITR - Quarterly Information - 03/31/2015 - MPX ENERGIA SA Version : 1 Reports and statements / Director's declaration on the Financial Statements In compliance with the provisions in Article 25 of Instruction n 480/09, of December 7, 2009, the Management Board declares that it has revised, discussed and agreed relevant to the Quarterly Information (Company and Consolidated) the quarter ended March 31, 2015. Rio de Janeiro, May 14, 2015. Alexandre Americano (Chief Executive Officer) Ricardo Levy (Executive Vice President and Investor Relations Director)

PAGE: 24 of 25


Reports and statements / Director's declaration on Independent Auditors' Report In compliance with the provisions in Article 25 of Instruction n 480/09, of December 7, 2009, the Management Board declares that it has revised, discussed and agreed Declaration of Principles with the conclusion expressed in the Independent Auditors' relevant review report, dated May 14, 2015, relevant to the Quarterly Information (Company and Consolidated) the quarter ended March 31, 2015. Rio de Janeiro, May 14, 2015. Alexandre Americano (Chief Executive Officer) Ricardo Levy (Executive Vice President and Investor Relations Director)

PAGE: 25 of 25

Quarterly Information Eneva S.A. In Judicial Reorganization (Public Held Company) March 31, 2015

With Independent Auditors Report on the Quarterly Information Statements.

May 14th 2015

2

Summary

1. Reporting Entity ..................................................................................................................................................... 3

2. Licenses and Permits ............................................................................................................................................. 8

3. Interim Financial Statement .................................................................................................................................. 9

4. Significant Accounting Policies ............................................................................................................................ 11

5. Critical Accounting Estimates and Assumptions ................................................................................................. 11

6. Cash and Cash Equivalents .................................................................................................................................. 11

7. Secured Deposits ................................................................................................................................................. 11

8. Accounts Receivable and Fuel Consumption Account ........................................................................................ 12

9. Inventories ........................................................................................................................................................... 12

10. Recoverable and Deferred Taxes ....................................................................................................................... 14

11. Capital Expenditure ........................................................................................................................................... 17

12. Available-for-sale Assets and Discontinued Operations ................................................................................... 21

13. Property, Plant and Equipment ......................................................................................................................... 22

14. Intangible Assests .............................................................................................................................................. 25

15. Related Parts ..................................................................................................................................................... 28

16. Loans and Financing .......................................................................................................................................... 33

17. Taxes and contributions payable ....................................................................................................................... 43

18. Financial instruments and risk management .................................................................................................... 43

19 Provision for contingencies ......................................................................................................................... 52

20. Shareholders' equity .......................................................................................................................................... 52

21. Earnings per share ............................................................................................................................................. 54

22. Share-based remuneration plan ........................................................................................................................ 54

23. Operating revenue............................................................................................................................................. 57

24. Costs and expenses by nature ........................................................................................................................... 58

25. Financial Income ................................................................................................................................................ 59

26. Commitments .................................................................................................................................................... 60

27. Insurance ........................................................................................................................................................... 63

28. Operating Segments .......................................................................................................................................... 63

29. Subsequent events ............................................................................................................................................ 72

3

QUARTERLY INFORMATION ENEVA S.A. IN JUDICIAL REORGANIZATION

Accompanying Notes to the Quarterly Information (In Thousands of Reais R$, unless stated otherwise)

1. Reporting Entity

MPX Energia S.A. ("Company") was founded on April 25, 2001 and it is headquartered in Rio de Janeiro An Extraordinary General Meeting held on September 11, 2013 approved the decision to change the Company's name to Eneva S.A. Its core activity is the generation of electricity through the development of a diversified portfolio of sources, including mineral coal, natural gas and renewable sources. The Company has a diversified portfolio of projects, including thermal power plants in Brazil, in addition to renewable energy projects, such as solar and wind energy. In order to integrate its operations, the Company is also a shareholder in a natural gas production and exploration project in Brazil, which supplies gas to plants built by the company in Maranho. The company participates as a quotaholder or shareholder of the companies that implement these projects and certain projects will be implemented in partnership with other players in the energy sector. These projects were primarily funded through funds obtained under the Company's public share offering made on December 14, 2007 and January 11, 2008 (supplementary batch), amounting to R$ 2,035,410, in addition to financing and the issuance of 21,735,744 convertible debentures on June 15, 2011 amounting to R$ 1,376,527. 21,653,300 debentures were converted on May 24, 2012, triggering the issuance of 33,255,219 new shares, as a result of the corporate reorganization implemented by the Company. On March 28, 2013 the controlling shareholder of MPX Energia S.A., Mr. Eike Fuhrken Batista, entered into an investment agreement with E.ON SE consisting of the following events:

(a) On May 29, 2013 E.ON acquired some Company shares held by Eike Fuhrken Batista accounting for approximately 24.5% of the share capital.

(b) On the date the shares were acquired, E.ON and Eike Batista entered into a new shareholders'

agreement, which regulated the exercising of voting rights and restrictions on the transfer of shares held by them.

(c) In August 2013 a private capital increase was concluded of approximately R$ 800 million, with a

subscription price fixed at R$ 6.45 per share.

(d) In the meeting of creditors held on 30 April 2015 was unanimously approved by the classes of creditors, representing significant majority of creditors, the sale of the Company's participation in society Porto do Pecm Gerao de Energia S.A. and the Plan of the Judicial Recovery. Further details on the process of judicial reorganization can be found later in this section.

4

As shown in the table below, on March 31, 2015 the economic group ("Group" or "Company") includes the Company and its equity interests in associated companies, direct and Indirect subsidiaries, joint ventures and the Multimercado FICFI RF CP Eneva investment fund; for further details about the subsidiaries see Note 12:

Parnaba I Gerao de Energia S.A.;

Porto do Pecm Gerao de Energia S.A.;

Pecm II Gerao de Energia S.A.;

Itaqui Gerao de Energia S.A.,;

Amapari Energia S.A.;

ENEVA Comercializadora de Energia Ltda.,

ENEVA Comercializadora de Combustveis Ltda.,

Tau Gerao de Energia Ltda;

Parnaba III Gerao de Energia S.A.; e

Parnaba IV Gerao de Energia S.A.

* Joint subsidiary. ** Associated company.

5


The Company took out a short-term debt to finance its operations in 2012 and 2013. In both projects, Parnaba 2 had its short-term loan to Ita Bank and CEF Bank rolled forward for 6 months in December 14 to June 15, which now matures in conjunction with the BNDES's short-term debt. The consolidated loans maturing in the next 12 months can be summarized as follows from March 31, 2015:

Within three months: R$ 3.321 billion that includes balance due of R$ 2.43 billion holding company that is in reorganization process pending approval by the reorganization judge approved the plan at a meeting of creditors

Between 3 and 6 months: R$ 47.856 million.



The short-term debts in force in December 2013 were taken out to finance part of the investments made and to meet working capital requirements. The Company is also working to partially settle and roll forward all its short-term debts in the project to long term ones and is mainly considering the following events in its business plan:

o Restructuring of the long-term debt of Itaqui, providing a 6-month grace period for the interest and 24 for the principal. Amendment signed and currently taken into effect.

o Rolling forward for 12 months of short-term debt of Parnaba 2, and subsequent procurement of long-term loan amounting to R$ 960 million.

o Long-term financing for Parnaba III of R$ 150 million.

o Lengthening of short-term debt for the Parnaba 1 venture for a total term of 18 months and

grace period for principal of 6 months. Amendment signed with Bradesco and Ita Banks.

o the Pecm II debt restructuring in Itaqui molds. Ongoing negotiations over the 1st quarter

and the expected approval by BNDES, BNB and other guarantors benches along the 2nd

quarter.

In addition to the financial restructuring of certain projects, as described above, the Company is also working to restructure its own short-term debt. The judicial reorganization plan approved on 30 April 2015 and pending court approval includes a significant reduction of the holding company's debt, in addition to the lengthening of the debt that remains. These potential measures are extremely important in order to bolster the capital structure and create the means necessary to permit a significant reduction in its leverage and therefore guarantee its long-term sustainable survival. The judicial reorganization proceeding On December 9, 2014 ENEVA S.A and its subsidiary Eneva Participaes S.A. In Judicial Reorganization filed for judicial recovery in the courts of the city of Rio de Janeiro. The decision was made in order to maintain suitable

6

cash conditions to keep the company running properly. All in all, it has seen continued improvement in operating indicators. The Plan is designed to enable Eneva and Eneva Participaes to weather their economic and financial crisis, implement other necessary operational reorganization measures, and protect direct and Indirect jobs and the rights of Creditors and shareholders. The seven power stations operated by the company have not been included in the petition, which applies only to ENEVA S.A. and its subsidiary ENEVA Participaes S.A. The decision to file for judicial recovery came after a standstill agreement with financial institutions expired on November 21, 2014 and was not renewed. Under the expired agreement, the banks agreed to suspend interest and principal payments on ENEVA's financial debt. Judicial recovery protects the company and its operations from paying current debt, allowing discussions with creditors to continue as the company prepares a judicial recovery plan. On December 16, 2014, the judge of the 4th Business Court of the City of Rio de Janeiro accepted the petition for judicial recovery of the company and its subsidiary, ENEVA Participaes S.A. The court appointed Deloitte Touch Tohmatsu as trustee. The company is currently discussing the approval of a judicial recovery plan within its creditors, aiming at a significant reduction of the holding companys debt, in addition to the lengthening of the debt that remains. After extensive negotiations that followed the approval of processing from reorganization by the Company and its creditors the judicial recovery plan was approved by an absolute majority of the claims in the creditors' meeting held on April 30, 2015 and its approval by the judge should take place in coming weeks. At the same meeting approved the sale of 50% of the company's participation in the project Porto do Pecem Power Generation SA (the net amount of R $ 300 million), which will give an important support for cash both short and long-term of the company. Overview of Recovery Measures Purpose of the Plan - The plan aims to allow the Eneva S.A. and the Eneva Participaes overcome its economic and financial crisis, adopt additional measures necessary for its operational restructuring and preserve the maintenance of direct and indirect jobs and the rights of its creditors and shareholders. Restructuring of credits - For the Recuperandas can reach their desired financial and operational uplift, restructuring of credits is essential, taking place mainly through (i) the reduction of the amount of R $ 250,000.00 (two hundred fifty thousand reais), the It is paid in the form of clauses 5.3.1 or 5.4.1 for Unsecured Creditor; (Ii) the mandatory reduction of 20% (twenty percent) or 15% (fifteen percent) of Unsecured credits, by applying a discount (ie cancellation) on the value of each Credit Unsecured amounting to overcome the R $ 250,000.00 (two hundred fifty thousand reais) paid earlier, as described in clauses 5.3.2 or 5.4.2; (Iii) mandatory reduction of 40% (forty percent) or 55% (fifty-five percent) of the value of Unsecured Claims in the amount which exceeds the amount of R $ 250,000.00 (two hundred fifty thousand reais) paid earlier, which will take place through capitalization of credits, as described in clauses 5.3.3 or 5.4.3; and (iv) debt reprofiling for payment of the Outstanding Balance of Credit Unsecured, in the form of clauses 5.3.4 or 5.4.4, among other measures provided for in this Plan. Reprofiling of the liabilities of the operating companies of Eneva Group - Parallel to this Plan, the Recuperandas use their best efforts to renegotiate new terms and conditions with the creditors of the Eneva Group's operating

7


companies not part of the Reorganization, in order to adjust payment the liability of each company to cash flow obtained with the operation of the respective enterprise. Strengthening the capital structure and balance of Eneva S.A. by Capital Increase - In order to strengthen its capital structure and balance sheet, reduce its debt and receive assets able to contribute its cash flow and / or its strategic positioning, promote Eneva S.A. the capital increase through the issue of New Shares to be subscribed by the shareholders Unsecured Creditors, BPMB Shareholder, Petra (and / or the successors of Petra in the Parnaba Assets III or in Assets Petra) and possible investors, and paid by (i ) Contribution in Kind, (ii) Capitalization of credits and (iii) Subscription with the Assets, as provided herein. Corporate Restructuring - The Recuperandas may promote corporate restructuring of Eneva Group in order to get the most efficient and appropriate corporate structure to carry out the capital increase and compliance with the provisions of this Plan. Given that this corporate restructuring will take place under the Capital Increase, the fulfillment of this plan and always in the best interest of Recuperandas, Creditors and success of the Judicial Reorganization, can be carried out without prior approval from a lender, provided that all legal, regulatory and contractual provisions are observed. However, until there is a capital increase of Approval, any corporate restructuring with a purpose other than the completion of the capital increase will depend on approval of a simple majority of the credits.

8

2. Licenses and Permits ENEVA - In judicial reorganization is committed to obtaining all the legal licenses and permits required for each of its facilities and activities. The Company and its investees have the following environmental licenses as of March 31, 2015:

Held by Ventures Licenses Expiry

ITAQUI GERAO DE ENERGIA S.A. UTE PORTO DO ITAQUI LO 1.101/2012 10/26/2017

LINHA DE TRANSMISSO LO 1.061/2011 12/16/2017

PORTO DO PECM GERAO DE ENERGIA S.A.

UTE PORTO DO PECEM I LO 1.062/2012 12/28/2015

CORREIA TRANSPORTADORA LO 371/2014 05/14/2018

LINHA DE TRASMISSO PECEM I LO 889/2012 09/26/2015

PECM II GERAO DE ENERGIA S.A. UTE PORTO DO PECM II LO 09/2013 02/08/2016

LINHA DE TRASMISSO PECM II LO 108/2013 07/17/2016

AMAPARI ENERGIA S.A. UTE SERRA DO NAVIO (including TL) LO 172/2013 03/25/2016

TAU GERAO DE ENERGIA LTDA.

USINA SOLAR TAU 1MW - (including TL) LO 133/2012* 02/28/2014

USINA SOLAR TAU 4MW LI 15/2012* 03/05/2014

USINA SOLAR TAU (45MW) LP 253/2012 08/15/2015

PARNABA I GERAO DE ENERGIA S.A. MARANHO IV E V LO 559/2012 12/20/2016

PARNABA II GERAO DE ENERGIA S.A. MARANHO III LO 55/2014* 02/20/2018

PARNABA I GERAO DE ENERGIA S.A. MARANHO IV E V (closing cycle) LI 273/2011* 12/05/2013

ENEVA S.A. UTE PARNAIBA I LI 111/2012* 05/09/2013

ENEVA S.A. UTE PARNABA II LI 003/12* 11/11/2013

PARNABA IV GERAO DE ENERGIA S.A. PARNABA IV LO 415/2013 11/25/2017

PARNABA III GERAO DE ENERGIA S.A. PARNABA III (MCE NOVA VENECIA 2) LO 187/2014 09/23/2017

UTE PORTO DO AU ENERGIA S.A.

- - -

UTE PORTO DO AU II LP IN 025871 12/30/2015

LINHA DE TRANSMISSO LI IN 019365 04/24/2015

AU III GERAO DE ENERGIA LTDA. ELICA MARAVILHA LI IN 000208* 05/22/2012

ELICA MUNDUS LI IN 000207* 05/22/2012

ENEVA S.A. UTE SUL LP 332/2009* 12/22/2012

SUL GERAO DE ENERGIA LTDA. BARRAGEM SUL LP 601/2010* 05/21/2012

SEIVAL GERAO DE ENERGIA LTDA. UTE SEIVAL LI 589/2009* 05/13/2015

SEIVAL SUL MINERAO LTDA. MINA DO SEIVAL LO N 9221/2009* 10/20/2013

CENTRAL ELICA MORADA NOVA LTDA. CGE MORADA NOVA LP 0010/2012 03/19/2016

CENTRAL ELICA SO FRANCISCO LTDA. CGE SO FRANCISCO LP 0083/2012 03/20/2016

CENTRAL ELICA MILAGRES LTDA. CGE MILAGRES LP 0084/2012 03/20/2016

CENTRAL ELICA SANTA LUZIA LTDA. CGE SANTA LUZIA LP 0085/2012 03/20/2016

CENTRAL ELICA PEDRA VERMELHA I LTDA. CGE PEDRA VERMELHA I LP 0090/2012 03/19/2016

CENTRAL ELICA ASA BRANCA LTDA. CGE ASA BRANCA LP 0091/2012 03/19/2016

CENTRAL ELICA SANTO EXPEDITO LTDA. CGE SANTO EXPEDITO LP 0092/2012 03/19/2016

CENTRAL ELICA PEDRA VERMELHA II LTDA. CGE PEDRA VERMELHA II LP 0093/2012 03/19/2016

CENTAL ELICA PAU DARCO LTDA CGE PAU DARCO LP 0184/2013 04/26/2015

CENTAL ELICA PEDRA ROSADA LTDA CGE PEDRA ROSADA LP 0187/2013 05/02/2015

CENTRAL ELICA PAU BRANCO LTDA CGE PAU BRANCO LP 0189/2013 05/10/2015

CENTRAL ELICA ALGAROBA LTDA CGE ALGAROBA LP 0186/2013 05/06/2015

CENTRAL ELICA UBAEIRA I LTDA CGE UBAEIRA I LP 0188/2013 05/10/2015

CENTRAL ELICA UBAEIRA II LTDA CGE UBAEIRA II LP 0185/2013 05/06/2015

CENTRAL ELICA SANTA BENVINDA I LTDA CGE SANTA BENVINDA I LP 0183/2013 05/23/2015

CENTRAL ELICA SANTA BENVINDA II LTDA CGE SANTA BENVINDA II LP 0191/2013 05/10/2015

CENTRAL ELICA BOA VISTA I LTDA CGE BOA VISTA I LP 0268/2013 06/18/2015

CENTRAL ELICA BOA VISTA II LTDA CGE BOA VISTA II LP 0270/2013 06/18/2015

CENTRAL ELICA BONSUCESSO LTDA CGE BONSUCESSO LP 0271/2013 06/18/2015

CENTRAL ELICA PEDRA BRANCA LTDA CGE PEDRA BRANCA LP 0269/2013 06/18/2015

CENTRAL ELICA OURO NEGRO LTDA CGE OURO NEGRO LP 0071/2014 04/11/2016

(*)The renewal of environmental licenses was applied for at least 120 (one hundred and twenty) days before the validity expires, as fixed in the respective license, and is extended automatically until the respective environmental authority states its final position. (Supplementary Law 140/2011 art. 14 (4).

9


3. Interim Financial Statement The interim financial statements have been prepared based on the historic cost basis, adjusted to realization value when applicable, except for financial instruments held at fair value, including derivative instruments. The interim financial statement was elaborated following the same financial policies, principles, methods and standard criteria used in the financial statements presented at the end of the last fiscal year. They were audited on December 31, 2014 and should accordingly be read along. The preparation of the interim financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the parent company and financial statements are disclosed in Note 5.

(a) Consolidated Interim Financial Statements

The consolidated interim financial statements were prepared and are presented according to the statement issued by the Accounting Pronouncements Committee (CPC 21 - R1), interim statements, equivalent to International Financial Reporting Standards (IAS 34). The presentation of the Statement of Value Added (DVA), individual and consolidated, is required by Brazilian Corporate Law and the accounting practices adopted in Brazil applicable to public companies.

(a) Individual Interim Financial Statements The individual financial statements of the Company have been prepared according to the statement issued by the Accounting Pronouncements Committee - CPC 21 (R1), Interim Statements and are disclosed together with the consolidated financial statements. In the individual financial statements, subsidiaries are accounted for using the equity method adjusted held in proportion of the Group's contractual rights and obligations. The accounting practices adopted in Brazil applicable to the individual financial statements differ from IFRS applicable to the separate financial statements, only the measurement of investments in subsidiaries, joint ventures and associates using the equity method, whereas under IFRS it would be at cost or fair value. Law No. 11,941 / 09, for BR GAAP purposes, abolished deferred charges, allowing the balance accrued up to December 31, 2008, which may be amortized over 10 years, subject to impairment testing - impairment. With the adoption of IFRS standards, the Company recorded accumulated losses, the consolidated balance sheet, the amount of R$ 26,192, net of tax, on January 1, 2009, corresponding to deferred its and its subsidiaries that date. Consequently, the difference between the individual and consolidated shareholders' equity is related to deferred which was recognized in accumulated losses in consolidated equity. The table below shows the reconciliation between the individual and consolidated shareholders' equities as of March 31, 2015:

2015

Shareholders equity Parent Company 1,014,617 Deferred charges - Law 11.941/09 (7,759)

Shareholders equity - Attributable to controlling 1,006,858

10

shareholders

The Board of Directors authorized the issuance of these financial statements on March 14, 2015.

11


4. Significant Accounting Policies The main accounting policies used to prepare this Interim Financial Reporting are the same used in the last financial statements presented on December 31, 2014.

5. Critical Accounting Estimates and Assumptions Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. All critical accounting estimates and assumptions used herein are the same presented in the last financial statements audited on December 31, 2014.

6. Cash and Cash Equivalents

Parent Company Consolidated

March 31

2015

December 31

2014

March 31

2015

December 31

2014

Cash and Bank Deposits

4,530

4,055

38,720 44,229 Fundo de Investimento FICFI RF CP Eneva (a) 47,112

68,447

119,589 85,084

CDB (b)

22,632 28,007

51,642

72,502

180,941 157,319

(a) Substantially consist of quotas in investment funds, of high liquidity, readily convertible into a known amount of cash, regardless of asset maturity, and are subject to an insignificant risk of a change in value. This is a share investment fund FI Multimercado Crdito Privado FICFI RF CP Eneva administrated by Banco Ita, whose portfolio primarily consists of Bank Deposit Certificates - CDBs and securities subject to repurchase agreements issued by first-rate financial institutions and companies, all linked to floating rates and with an average yield of 101.20% (nominal rate on the curve) of the DI CETIP rate (Interbank Deposit Certificate - CDI).

(b) These are the amounts invested in CDBs issued by first-rate financial institutions. The company that holds these amounts is the subsidiary Itaqui Gerao de Energia S.A.

7. Secured Deposits


March 31

2015

December 31

2014

March 31

2015

December 31

2014

BNDES - Porto do Pecm 42 41 42 41 BNDES/BNB - Itaqui (a) - 51,213 37,423 BNDES - Parnaba (b) - 35,281 24,647 Other - -

42 41 86,536 62,111

Current 42 41 42 41 Noncurrent - 86,494 62,070

(a) Refers to the debt service reserve accounts linked to the financing agreement between the subsidiary Itaqui Gerao de Energia S.A , BNB-Banco do Nordeste do Brasil S.A. and BNDES. The variation between the quarters

12

presented refers to restoration of the balance of the debt reserve account that had drawn with approval of the financing (b) Refers to the debt service reserve accounts linked to the financing agreement between BNDES and the subsidiary Parnaba Gerao de Energia S.A.

8. Accounts Receivable and Fuel Consumption Account

Consolidated

2015 2014

Itaqui Gerao de Energia S.A. (a) 92,173 86,295 Parnaba Gerao de Energia S.A. (a) 132,696 136,677 Parnaba II Gerao de Energia S.A. (a) 7,245 81,876 232,114 304,848

Current 232,114 304,848- Noncurrent -

(a) The balance denotes the accounts receivable of the subsidiaries Itaqui Gerao de Energia S.A under the electricity purchase contract in a regulated environment (CCEAR), signed with ANEEL, of R$ 92,173 (R$ 86,295 as of December 31, 2014) and Parnaba Gerao de Energia S.A. R$ 132,696 (R$ 136,677 as of December 31, 2014), also under the CCEAR with ANEEL. The subsidiary Parnaba II Gerao de Energia R$ 7,245 referring to the sale of energy in the free market.

9. Inventories

Consolidated

2015 2014

Diesel Oil/lubricant (a) 5,975 6,909 Coal (b) 55,777 61,209 Electronic and mechanical parts (c) 32,650 31,067

94,403 99,185

(a)The balance consists of the reservoirs of diesel oil and lubricating oil used as consumables in electricity generation by the subsidiaries Amapari Energia S.A.(R$ 3,615) and Itaqui Gerao de Energia S.A. (R$ 2,361). The subsidiary Amapari Energia S.A. has a contractual acquisition obligation (take or pay) towards BR Distribuidora S.A., to require a minimum 3,600 m of diesel oil a month, for a fixed price or to pay for this even if it is not taken. In case the obligation is exercised, this results in the acquisition of the diesel oil used as a consumable by the Company. The Company recorded a provision under trade payables for the difference between the amount required and the minimum mandatory amount under the contract, charged to inventory. The balance for this provision as of March 31, 2015 is R$ 3,615 (R$ 3,615 as of December 31, 2014). This provision is restated semi-annually as specified in the diesel oil supply contract. The new agreement establishes a consumption commitment and acknowledgement of 17,000 m which consists of the remaining portion to be consumed.

13


(b) The balance consists of the inventory of coal used as consumables in electricity generation by the subsidiary Itaqui Gerao de Energia S.A. (R$ 55,777). The coal was acquired for the operation and to establish a security inventory at the plant, with a view to the commercial operations. (c) The balance consists of electronic and mechanical parts for use and replacement in the maintenance operations carried out by the subsidiaries: Itaqui Gerao de Energia S.A. (R$ 19,461), Parnaba Gerao de Energia S.A. (R$ 8,673) and Parnaba II Gerao de Energia S.A. (R$ 4,516).

14

10. Recoverable and Deferred Taxes The balance of recoverable taxes is as follows:


March 31

2015

December 31

2014

March 31

2015

December 31

2014

Income tax withheld at source (b) 1,012 2,815 7,062 8,206 Prepaid income tax - 5,357 5,080 Prepaid social contributions - 1,711 1,756 Prepaid social contributions - - - previous year (a) 462 462 2,963 2,562 Income tax withheld at source - - - previous year (b) 19,859 35,242 22,129 37,507 Income tax withheld at source - - - loan 27,348 6,695 27,996 7,342 ICMS - 535 254 PIS 2 47 719 866 COFINS 10 216 3,298 3,975 Other - 15 2,151 2,381

48,693 45,492 73,921 69,929

Current 10,368 12,255 31,048 32,354 Noncurrent 38,325 33,237 42,873 37,575

(a) Refers to income and social contribution taxes prepaid in the course of the year and previous years, which will be offset against the income and social contribution taxes determined on the taxable income.

(b) The balance of income tax withheld at source refers to amounts withheld on interest-earning bank

deposits and related-party loans. These balances will be offset against the income and social contribution taxes payable.

Deferred Taxes Deferred income and social contribution taxes reflect future tax effects attributable to temporary differences between the tax bases of assets and liabilities and their carrying values. The deferred tax was maintained at the subsidiaries due to the expectations of generating future taxable income, determined by a technical valuation approved by Management. The carrying value of the deferred tax asset is reviewed periodically and the projections are reviewed annually. If there are significant factors that change the projections, they are also reviewed by the Company during the year. The Company and its subsidiaries adopted the Transitional Taxation Scheme (RTT) so that the amendments introduced by Law 11638 of December 28, 2007 and articles 37 and 38 of Law 11941 of 2009, which changed the procedure for recognizing revenue, costs and expenses used to calculate the net income for the year defined in art. 191 of Law 6404 of December 15, 1976, do not affect the calculation of the taxable income and social contribution calculation base of companies that opt for the Transitional Taxation Scheme RTT. For tax purposes the accounting methods and criteria in force at December 31, 2007 should be used. Law 12973 was published on May 13, 2014 which revoked the Tra

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