Latibex ForumNovember, 2009

2

7 million Clients6 thousand AES People

AES Brasil Group

85.4%

14.6%

Others

AES Brasil

3.0%

Discos

Gencos

Market Share... with a 2008 result:

R$ 3.2 billion (Ebitda)R$ 1.7 billion (net income)

Investments 1998 - 2008:

R$ 5 billion after privatization

DiscoTrading Company Telecom

Genco

97.0%

33

AES Eletropaulo

• Largest electricity distribution company in Latin America

• Serving 24 municipalities in the São Paulo Metropolitan area,

including the capital

• Concession area: 4,526 km2

• Concession area with one of the highest concentration of GDP

per capita in Brazil

• Population Served: 16 million

• 4,143 workers

• 5.9 million of consumption units

São Paulo Metropolitan Area

Regional West

Regional East

Regional South Regional ABC

Regional North

Overview

44

Ebitda – R$ million

2007 20082006

1,766 1,6961,566

9M08 9M09

1,1431,140

Net Income – R$ million

2007 2008

1,027

713

2006

373

+ 175%

9M08 9M09

538496

Dividend Payout – R$ million

34.9%

100.3% 101.5%

3.2%

14.4% 20.3%

715

2007

1,043

2008

130

2006

323

9M09

Dividends Pay-out Yield PNB

Investments Breakdown – R$ million

2007

364

69

433

2006

301

378

77

2008

410

45747

2009e

468

55

523

269

30536

9M08

298

32426

9M09

Paid by customers

Capex

Financial Facts

55

2Q09 YTD

-1.5%

AES Eletropaulo

Load – (GWh)GDP¹

2006

2.9%

2007

5.2%

2008

5.1%

1 – Source: IBGE (Brazilian Institute of Geography and Statistics) 2 – Focus Report from 11/13/2009

2009(e)²

0.2%

2010(e)²

5.0%

2006

2.9%

2006

43,518

2007

45,215

2008

46,606

9M09

34,741

+ 4%+ 3%

2009(e)

46,789

2010(e)

48,237+ 0% + 3%

66

Consumption evolution

Free Clients

Commercial

Total Market - (GWh)1 9M09 Consumption Share - (GWh)1

Residential

Others

Industrial

8%

37%

14%

17%

26%

6%

1 – Own consumption not considered

Free Clients

2006 2007 2008

410

38,18339,932

41,243

Captive market

6,5277,355

7,383

+ 8%

5,625 5,024

30,730 30,377

9M08 9M09

+ 1%

- 1%

31,656 32,577 33,860

25,105 25,353

2009(e)

410

41,305

6,829

34,475

77

Residential - (GWh)

1Q09

3,4943,412

1Q08 2Q09

3,7423,605

2Q08 3Q09

3,9783,691

3Q08 9M08

10,708

9M09

Commercial - (GWh)

1Q09

2,6572,551

1Q08 2Q09

2,625

2,510

2Q08 3Q09

2,5672,542

3Q08 9M08

7,603

7,850

9M09

Consumption classes

+ 2.4% + 3.8% + 7.8% + 4.7%

+ 4.2% + 4.6% + 1.0% + 3.2%

88

Industrial - (GWh)

1Q09

1,3271,535

1Q08 2Q09

1,4651,608

2Q08 3Q09

1,5461,735

3Q08 9M08

4,8784,337

9M09

Captive Market - (GWh)

1Q09

8,1188,118

1Q08 2Q09

8,4938,351

2Q08 3Q09

8,7428,635

3Q08 9M08

25,10425,352

9M09

Consumption classes

-13.5% -8.9% -10.9% -11.1%

+ 0.0% + 1.7% + 1.2% + 1.0%

99

Free Market - (GWh)

1Q09

1,573

1,853

1Q08 2Q09

1,7201,899

2Q08 3Q09

1,7311,874

3Q08

+4,7%

9M08

5,625

5,024

9M09

Total Market - (GWh)

1Q09

9,6929,971

1Q08 2Q09

10,21210,250

2Q08 3Q09

10,47310,509

3Q08 9M08

30,73030,377

9M09

Consumption classes

-15.1% -9.4% -7.6% -10.7%

-2.8% -0.4% -0.3% -1.1%

The statements contained in this document with regard to the business prospects, projected operating and financial results, and growth potential are merely forecasts based on the expectations of the Company’s Management in relation to its future performance. Such estimates are highly dependent on market behavior and on the conditions affecting Brazil’s macroeconomic performance as well as the electric sector and international market, and they are therefore subject to changes.

Contacts:ri.eletropaulo@aes.com

+ 55 11 2195 7048