Companhia Energética de Minas Gerais (NYSE:CIG) Q3 2022 Earnings Conference Call November 16, 2022 1:00 PM ET

Company Participants

Carolina Sena - Investor Relations, Superintendent

Reynaldo Passanezi Filho - CEO

Leonardo George de Magalhães - Chief Financial Officer and IR Officer

Conference Call Participants

Andre Sampaio - Santander

Operator

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company’s IR website, where the presentation will also be available. Note that if you need simultaneous translation this tool is available with the globe icon where it says interpretation located at the center lower part of the screen. If you selected choose the language of your preference to the Portuguese or English for those hearing the video conference in English there is the option to mute the Portuguese audio by clicking mute original audio.

I'd like to turn the floor to Carolina Sena, Superintendent of Investors Relations. Carolina, you may go ahead please

Carolina Sena

My name is Carolina Sena, Superintendent of Investor Relations at Cemig. We are beginning the transmission of the earnings conference call pertaining to the third quarter of 2022 with the attendance of Reynaldo Passanezi Filho; CEO, Dimas Costa, Chief Commercialization Officer and [indiscernible] Chief Legal and Regulatory Officer, Leonardo George de Magalhaes; CFO and IR Officer, Marney Tadeu Antunes, Chief Distribution Officer; and Thadeu Carneiro da Silva, Chief Generation and Transmission Officer.

For the opening remarks, I turn the floor to our CEO, Reynaldo Passanezi Filho.

Reynaldo Passanezi Filho

Good afternoon, good afternoon, cadeau and everyone. Once again, it's a pleasure for us to hold this conference call with the opportunity of discussing with all of you another quarter of consistent and solid results that Cemig achieved. These results are consistent, they're solid, and they are they - verify the suitability of our strategy.

It's a strategy of focusing in Minas and winning, making investments in the activities that we know in the territory that we know which is Minas Gerais. And doing that with financial discipline, discipline when allocating funds and at the same time seeking the highest efficiency. So the results once again, prove the success of the strategy.

So we'll start with investments. I believe you can see clearly, the recovery of the company's investments, investments listed here on the screen, adding up to BRL 2.2 billion, year-to-date in the first nine months. So if you look at it here, it's more than two times what the investment was in 2017 and 2018. You can see that in nine months, we've invested more than twice as much as we invested on average in 2017 and 18.