United States

Securities and exchange commission
washington, d.c. 20549

FORM 6-K

report of foreign private issuer
pursuant to rule 13a-16 or 15d-16 of
the securities exchange act of 1934

For the month of ~~October~~January ~~2025~~2026

Commission File Number 1-15224

Energy Company of Minas Gerais

(Translation of Registrant’s Name into English)

Avenida Barbacena, 1200

30190-131 Belo Horizonte, Minas Gerais, Brazil

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F a Form 40-F ___

Index

Item

Description of Items

1. Material Fact dated ~~August~~September 112, 2025 – ~~Cemig~~Collective ~~wins~~Bargaining ~~CCEE~~Agreement ~~auction~~Regarding ~~for~~Health ~~GSF credits for concession extensions~~Plans

2. Material Fact dated ~~August~~September 119, 2025 – ~~Official~~Collective ~~Letter~~Bargaining ~~Received~~Agreement ~~from~~Regarding ~~the~~Health ~~Controlling Shareholder~~Plans

3. ~~Earnings~~Material ~~Release~~Fact dated August 14, 2025 – ~~2Q2025~~Direct Action of Unconstitutionality 7,324 - Amounts to be refunded to consumers

4. ~~Notice~~Earnings toRelease ~~Shareholders dated September 23, 2025~~ – ~~Declaration of Interest on Equity~~3Q2025

5. Notice to the Market dated ~~October~~November 1618, 2025 – ~~Conclusion~~Liquidation of the ~~Onerous~~11th ~~Transfer~~Issue Debentures of ~~Four~~Cemig ~~Small Power Plants~~GT

6. 2QMaterial ~~Interim~~Fact ~~Financial~~dated ~~Information~~December 3, 2025 - Collective Bargaining Agreement Regarding Health Plans

Notice to the Market dated December 5, 2025 - Injunction granted in Public Civil Action against Auction of four small power plants

Notice to the Market dated December 8, 2025 - Suspension of injunction in Public Civil Action against Auction of four small power plants

Material Fact dated December 12, 2025 - CEMIG announces R$44 billion investment plan for 2026-2030

10.

Material Fact dated December 12, 2025 - Single agreement in collective bargaining agreements on health plan

11.

Notice to the Market dated December 19, 2025- Cemig SIM concludes the acquisition of 10MWp in solar power plants

Forward-Looking Statements

This report contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Actual results could differ materially from those predicted in such forward-looking statements. Factors which may cause actual results to differ materially from those discussed herein include those risk factors set forth in our most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. CEMIG undertakes no obligation to revise these forward-looking statements to reflect events or circumstances after the date hereof, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

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

Name: Andrea Marques de Almeida

Title: Vice President of Finance and Investor Relations

Date: ~~October~~January 2720, ~~2025~~2026

1. Material Fact dated ~~August~~September 112, 2025 – ~~Cemig~~Collective ~~wins~~Bargaining ~~CCEE~~Agreement ~~auction~~Regarding ~~for~~Health ~~GSF credits for concession extensions~~Plans

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

CEMIG GERAÇÃO E TRANSMISSÃO S.A.

PUBLICLY-HELD COMPANY

CORPORATE TAXPAYER’S ID (CNPJ): 06.981.176/0001-58

Company Registry (NIRE): 31300020550

MATERIAL FACT

~~Cemig~~Collective ~~wins~~Bargaining ~~CCEE~~Agreement ~~auction~~Regarding ~~for~~Health ~~GSF credits for concession~~Plans ~~extensions~~

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG” or “Company”), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, ~~and~~hereby ~~CEMIG~~informs ~~GERAÇÃO~~its Eshareholders ~~TRANSMISSÃO~~and ~~S.A.~~the ~~(“Cemig~~market ~~GT”)~~in general, aunder ~~publicly-held~~CVM Resolution 44/2021, that, ~~company~~in ~~and~~continuity to the ~~wholly-owned~~Material ~~subsidiary~~Fact ofdisclosed ~~CEMIG,~~on ~~hereby~~February ~~inform~~20, ~~its~~2025, ~~shareholders~~it ~~and~~has ~~the~~filed, ~~market~~on inSeptember ~~general~~11, ~~under~~2025, ~~CVM~~in ~~Resolution~~the ~~44/2021, that~~records ~~Cemig~~of ~~GT,~~the ~~Cemig~~collective bargaining ~~PCH~~dispute SProcess 0011802-15.A2025.5.03.0000, ~~and~~ the ~~Queimado~~agreement ~~Consortium~~signed ~~have~~with ~~won~~labor ~~the~~unions ~~auction~~SINDSUL of– ~~Generation~~Sindicato ~~Scaling~~dos ~~Factor~~Eletricitários do ~~(“GSF”)~~Sul ~~credits for~~de ~~concession~~Minas ~~extensions,~~Gerais ~~held~~and ~~today~~FTIUMG by– ~~the~~Federação ~~Electric~~dos ~~Energy~~Trabalhadores ~~Trading~~nas ~~Chamber~~Indústrias ~~(“CCEE”)~~Urbanas de Minas Gerais.

AsThe aagreement ~~result,~~establishes ~~the~~a ~~concessions~~buyout payment for ~~the~~compensatory damages ~~Queimado~~in a maximum total amount of R$1,250,000,000.00 (~~7 years)~~one billion, ~~Pai~~two ~~Joaquim~~hundred (7and ~~years~~fifty million reais), ~~and~~to ~~Irapé~~be (3paid ~~years~~pro rata in 6 (six) ~~hydroelectric~~installments, ~~power~~the ~~plants~~last ~~will~~one bein ~~extended~~2030, ~~with~~relating ato ~~total~~15,496 ~~disbursement~~(fifteen ofthousand, ~~approximately~~four hundred and ninety-six) retirees and pensioners, ~~R$200~~all ~~million~~of whom were active and enrolled in the CEMIG Saúde PSI health plan in February 2025.

~~CEMIG~~The ~~reaffirms~~agreement, ~~its~~which ~~commitment~~is subject to ~~keeping~~approval ~~shareholders~~by the ~~and~~Regional Labor Court of the ~~market~~3rd Region, is resolutory in ~~general~~nature ~~informed~~and ~~about~~applies ~~this~~to ~~matter,~~those ~~following~~who ~~the~~are ~~rules~~represented ~~issued~~or byaffiliated with the ~~CVM~~signing entities, ~~and~~as ~~the~~well ~~legislation~~as inthose ~~force~~who may subsequently adhere to them.

~~Belo~~CEMIG ~~Horizonte,~~reaffirms ~~August~~its 01commitment to keeping shareholders and the market in general informed about this matter, ~~2025~~under CVM regulations and the applicable legislation.

Belo Horizonte, September 12, 2025.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

2. Material Fact dated ~~August~~September 119, 2025 – ~~Official~~Collective ~~Letter~~Bargaining ~~Received~~Agreement ~~from~~Regarding ~~the~~Health ~~Controlling Shareholder~~Plans

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

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

~~Company~~COMPANY ~~Registry~~REGISTRY (NIRE): 31300040127

MATERIAL FACT

~~Official~~Collective ~~Letter~~Bargaining ~~Received~~Agreement ~~from~~Regarding ~~the~~Health ~~Controlling Shareholder~~Plans

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG” or “Company”), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, ~~under CVM Resolution 4/2021,~~ hereby informs its shareholders and the market in general, ~~that~~under itCVM ~~has~~Resolution ~~received~~44/2021, ~~Official~~that, ~~Letter~~in ~~SEDE/ASMERC~~continuity ~~49/2025~~to ~~from~~ the ~~State~~Material ofFacts ~~Minas~~disclosed ~~Gerais,~~on ~~the~~September ~~Company's~~12, ~~controlling shareholder~~2025, ~~informing~~and ~~that~~February it20, ~~authorized~~2025, the ~~Brazilian Development~~collective ~~Bank~~bargaining ~~(BNDES)~~dispute toproceeding filed ~~initiate~~under aProcess ~~Request~~0011802-15.2025.5.03.0000 ~~for~~was ~~Information~~approved ~~(RFI),~~today ~~a preliminary~~ and ~~non-binding~~an ~~stage~~agreement ~~aimed~~has atbeen ~~identifying~~signed ~~specialized technical~~with ~~consultants~~labor inunions ~~the~~SINDSUL ~~market~~– ~~interested~~Sindicato dos inEletricitários ~~supporting~~do ~~the~~Sul ~~preparation~~de ofMinas ~~CEMIG’s~~Gerais ~~economic~~ and ~~financial~~FTIUMG ~~valuation~~– ~~report, for~~Federação ~~the~~dos ~~purpose~~Trabalhadores ofnas ~~debt~~Indústrias ~~amortization~~Urbanas de ~~under~~Minas ~~the Full Debt Repayment Program for States (Propag)~~Gerais.

~~CEMIG~~The ~~reaffirms~~agreement ~~its~~establishes ~~commitment~~a tobuyout ~~keeping~~payment ~~shareholders~~for compensatory damages in a maximum total amount of R$1,250,000,000.00 (one billion, two hundred and fifty million reais), to be paid pro rata in 6 (six) installments, the ~~market~~last one in ~~general~~2030, ~~informed~~relating ~~about~~to ~~this~~15,496 ~~matter~~(fifteen thousand, ~~following~~four ~~the~~hundred ~~rules~~and ~~issued~~ninety-six) byretirees ~~the~~and ~~CVM~~pensioners, all of whom were active and enrolled in the ~~legislation~~CEMIG Saúde PSI health plan in ~~force~~February 2025. The Company remains committed to signing agreements with the remaining labor unions.

Belo Horizonte, September 19, 2025.

Cristiana Maria Fortini Pinto e Silva

Acting Vice President of Finance and Investor Relations

Material Fact dated August 14, 2025 – Direct Action of Unconstitutionality 7,324 - Amounts to be refunded to consumers

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

MATERIAL FACT

Direct Action of Unconstitutionality 7,324

Amounts to be refunded to consumers

A COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG” or “Company”), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, hereby informs its shareholders and the market in general, under CVM Resolution 44/2021, that, on August 14, 2025, the Brazilian Federal Supreme Court (STF) ruled, within the scope of Direct Action of Unconstitutionality Number 7,324, on the constitutionality of Law 14,385/2022, which regulates the refund to electricity consumers of tax amounts overpaid by distribution companies.

The Company is awaiting the publication of the court ruling to assess the potential accounting, financial, and operational impacts arising from the decision.

CEMIG reaffirms its commitment to keeping shareholders and the market in general informed about this matter, under CVM regulations and the applicable legislation.

Belo Horizonte, August 14, 2025.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

34. Earnings Release – ~~2Q2025~~3Q2025

CONTENTS

CONTENTS

Ebitda and profit by company, 3Q25 and 3Q24	5
P&L, 3Q25 and 3Q24	6
RESULTS BY BUSINESS SEGMENT	7
CONSOLIDATED ELECTRICITY MARKET	8
PERFORMANCE BY COMPANY	9
Cemig D	9
Billed electricity market	9
Sources and uses of electricity – MWh	10
Client base	11
The 2025 Annual Tariff Adjustment	11
Five-year Tariff Reviews compared	12
Opex and Ebitda: Realized vs. Regulatory	12
Supply quality indicators – DEC and FEC	13
Combating default	13
Energy losses	13
Cemig GT and Cemig holding company	15
Electricity market	15
Sources and uses of electricity	15
Gasmig	16
CEMIG – Consolidated results	17
Net profit	17
Operational revenue	18
Operational costs and expenses	20
Finance income and expenses	24
Equity income (Gain (loss) in non-consolidated investees)	24
CONSOLIDATED EBITDA (IFRS, and Adjusted)	25
Cemig GT – Ebitda	26
Cemig GT – Ebitda	27
Investments	28
Debt	29
Cemig’s long-term ratings	31
ESG: Engagement and performance	32
Cemig’s shares and ADRs	36
Cemig’s generation plants	37
RAP: July 2025 – June 2026 cycle	38
Transmission: Regulatory Revenue and Ebitda	39
Complementary information	40
Cemig D	40
Cemig GT	40
Cemig, Consolidated	43
Disclaimer	49

Ebitda and NET profit by company, 2Q25	5
Profit and loss accounts	6
RESULTS BY BUSINESS SEGMENT	7
CONSOLIDATED ELECTRICITY MARKET	8
PERFORMANCE BY COMPANY	9
Cemig D	9
Billed electricity market	9
Sources and uses of electricity – MWh	10
Client base	10
Performance by sector	10
Direct Action of Unconstitutionality No. 7,324 – PIS/Cofins Credits on ICMS	11
The 2025 Annual Tariff Adjustment	11
Five-year Tariff Reviews compared	12
Opex and Ebitda: realized x Regulatory	12
Indicators of supply quality – DEC and FEC	13
Combating default	13
Energy losses	14
Cemig GT and Cemig Holding Company	15
Electricity market	15
Sources and uses of electricity	15
Gasmig	16
Consolidated results	17
Net profit	17
Operational revenue	18
Operational costs and expenses	20
Finance income and expenses	23
Gain (loss) in non-consolidated investees (Equity income)	24
CONSOLIDATED EBITDA (IFRS, and Adjusted)	25
Ebitda of Cemig D	26
Cemig GT – Ebitda	27
Investments	28
Debt	29
Cemig’s long-term ratings	31
ESG – Report on performance	32
Performance of Cemig’s shares	35
Plant	36
RAP: July 2025–June 2026 cycle	37
Transmission Regulatory Revenue and EBITDA	38
Complementary information	39
Cemig D	39
Cemig GT	41


	4

Ebitda and ~~NET~~ profit by company, ~~2Q25~~3Q25 and 3Q24

	2Q25	2Q24	Change %	2Q25	2Q24	Change %
	3Q25	3Q24	Change %	3Q25	3Q24	Change %
(R$ mn)	EBITDA (IFRS)			Adjusted Ebitda
(R$ million)	Ebitda (IFRS)			Adjusted Ebitda
Cemig D	~~1,210~~758	~~1,329~~773	-91.09%	~~1,214~~737	~~872~~773	39-4.27%
Cemig GT	~~404~~530	~~641~~3,798	-3786.0%	~~602~~526	~~639~~603	-512.8%
Gasmig	~~243~~209	~~237~~227	2-7.59%	~~243~~209	~~237~~227	2-7.59%
Consolidated	2,009	2,371	-15.3%	2,212	1,916	15.4%
Others	4	160	-97.5%	3	159	-98.1%
New replacement value (VNR)	27	22	22.7%	27	22	22.7%
Consolidated	1,501	4,958	-69.7%	1,475	1,762	-16.3%
Equity income (Gain (loss) in non-consolidated investees)	77	39	97.4%	77	39	97.4%
New replacement value (VNR)	21	16	31.3%	21	16	31.3%
Regulatory difference, transmission, T	297	56	430.4%	99	78	26.9%
Equity income (Gain (loss) in Non-consolidated investees)	41	62	-33.9%	41	62	-33.9%
Consolidated, less VNR and equity income, plus difference IFRS/Regulatory Transmission Ebitda	2,202	2,366	-6.9%	2,207	1,933	14.2%
Regulatory difference, T* (Transmission IFRS/Regulatory)	100	-1,428	-	101	92	9.8%
Consolidated, less (VNR and equity income), plus (T)	1,539	3,452	-55.4%	1,514	1,776	-14.8%

	2Q25	2Q24	Change %	2Q25	2Q24	Change %
	3Q25	3Q24	Change %	3Q25	3Q24	Change %
(R$ mn)	Profit (IFRS)			Adjusted profit
(R$ million)	Profit (IFRS)			Adjusted profit
Cemig D	~~551~~282	~~1,060~~372	-4824.02%	~~554~~268	~~434~~372	27-28.60%
Cemig GT	~~342~~387	~~328~~2,629	4-85.3%	~~472~~385	~~409~~467	15-17.46%
Gasmig	~~151~~110	~~138~~131	9-16.40%	~~151~~110	~~138~~131	9-16.40%
Consolidated	1,188	1,689	-29.7%	1,322	1,134	16.6%
Others	18	148	-87.8%	17	148	-88.5%
Consolidated	797	3,280	-75.7%	780	1,118	-30.2%

"More details on the Transmission regulatory result can be found in the section Transmission: Regulatory Revenue and Ebitda.


	5

~~Profit~~CEMIG: P&L, 3Q25 and ~~loss accounts~~3Q24

	2Q25	2Q24	Change, %
	3Q25	3Q24	Change, %
PROFIT AND LOSS ACCOUNTS (R$ ’000)
NET REVENUE	10,~~786~~619,~~295~~741	910,~~435~~148,~~991~~88	144.36%
COSTS
Cost of electricity and gas	-56,~~809~~170,~~115~~023	-5,~~019~~916,~~191~~035	154.73%
Infrastructure construction costs	-1,~~463~~602,~~371~~092	-1,~~226~~336,~~933~~151	19.39%
Cost of operation	-1,~~363~~247,~~676~~001	-~~686~~1,~~180~~238,328	980.7%
Total costs	-89,~~636~~019,~~162~~116	-68,~~932~~490,~~304~~514	~~24.~~6.2%
GROSS PROFIT	21,~~150~~600,~~133~~625	21,~~503~~658,~~687~~371	-143.15%
EXPENSES
EXPENSES and Other Revenues
Client default provision	-360,~~098~~304	~~-77~~50,~~300~~556	-~~96.0%~~
General and administrative expenses	-~~177~~195,~~602~~333	-~~205~~206,~~700~~548	-135.74%
Other expenses	-~~405~~263,~~801~~105	-~~226~~103,~~594~~549	79154.1%
Total expenses	-586,501	-509,594	15.1%
Other revenues	0	3,151,678	-100.0%
Share of gain (loss) in non-consolidated investees	77,418	38,711	100.0%
Total expenses	-518,742	2,892,137	-117.9%
Profit before Finance income (expenses) and Taxes on profit	1,641,050	2,032,804	-19.3%
Share of gain (loss) in non-consolidated investees	40,708	61,657	-34.0%
Finance income	302,444	725,474	-58.3%
Profit before Finance income (expenses) and Taxes on profit	1,122,591	4,612,165	-75.7%
Finance expenses	-565,404	-607,355	-6.9%
Finance income	256,943	262,565	26.2%
Net finance income (expense)	-262,960	118,119	-322.6%
Finance expenses	-533,005	-324,110	87.4%
Profit before income tax and Social Contribution tax	1,378,090	2,150,923	-35.9%
Net finance income (expense)	-276,062	-61,545	348.6%
Income tax and Social Contribution tax	-249,538	-149,309	67.1%
Profit before income tax and Social Contribution tax	846,529	4,550,620	-81.4%
Deferred income tax and Social Contribution tax	59,729	-313,028	-119.1%
Income tax and Social Contribution tax	-140,680	-776,628	-81.9%
Total income tax and Social Contribution tax, incl. deferred	-189,809	-462,337	-58.9%
Deferred income tax and Social Contribution tax	90,893	-493,795	-118.4%
NET PROFIT FOR THE PERIOD	1,188,281	1,688,586	-29.6%
Total income tax and Social Contribution tax incl. deferred	-49,787	-1,270,423	-96.1%
NET PROFIT FOR THE PERIOD	796,742	3,280,197	-75.7%


	6

~~Results by~~RESULTS ~~business~~BY ~~segment~~BUSINESS SEGMENT

INFORMATION BY SEGMENT ON JUNE 30, 2025
INFORMATION BY SEGMENT, 3Q25
	Electricity				Gas	Equity interests	Total	Eliminations	Consolidated
Item	Electricity				Gas	Equity interests (Holding co.)	Total	Eliminations	Consolidated
	Generation	Transmission	Trading	Distribution
NET REVENUE	~~813~~721,~~582~~467	~~383~~333,~~793~~303	12,~~976~~217,~~069~~977	7,~~269~~286,~~938~~787	~~865~~568,~~321~~545	3223,~~704~~792	11,~~341~~151,~~407~~871	-~~555~~532,~~112~~130	10,~~786~~619,~~295~~741
Inter-segment	401,582	143,006	0	10,524	-	-	555,112	-555,112	-
Intersegment	350,477	149,031	-	32,622	-	-	532,130	-532,130	-
External	~~412~~370,~~000~~990	~~240~~184,~~787~~272	12,~~976~~217,~~069~~977	7,~~259~~254,~~414~~165	~~865~~568,~~321~~545	3223,~~704~~792	10,~~786~~619,~~295~~741	-	10,~~786~~619,~~295~~741
COST OF ELECTRICITY AND GAS	-~~147~~182,~~322~~751	-~~115~~74	-12,~~950~~224,~~946~~789	-34,~~772~~047,~~388~~449	-~~485~~240,~~097~~910	~~604~~-1,547	-6,~~355~~697,~~264~~520	~~546~~527,~~149~~497	-56,~~809~~170,~~115~~023
Inter-segment	-9,352	-40	-378,529	-157,538	-	-690	-546,149	546,149	-
Intersegment	-31,504	-39	-331,066	-164,350	-	-538	-527,497	527,497	-
External	-~~137~~151,~~970~~247	-7535	-1,~~572~~893,~~417~~723	-3,~~614~~883,~~850~~099	-~~485~~240,~~097~~910	-1,~~294~~009	-56,~~809~~170,~~115~~023	-	-56,~~809~~170,~~115~~023
COSTS AND EXPENSES
People	-3836,~~924~~452	-4139,~~301~~164	-10,~~963~~418	-~~264~~221,~~524~~850	-1813,~~197~~466	-1415,~~480~~856	-~~388~~337,~~389~~206	-	-~~388~~337,~~389~~206
Employees’ and managers’ profit shares	-4,~~253~~420	-45,~~483~~029	-24,~~949~~063	-2624,~~214~~789	-2,~~108~~562	-6,~~017~~956	-4647,~~024~~819	-	-4647,~~024~~819
Post-employment liabilities	-11,~~460~~837	-7,~~082~~315	-1,~~623~~677	-7066,~~953~~191	-	-18,~~206~~277	-~~109~~105,~~324~~297	-	-~~109~~105,~~324~~297
Materials, Outsourced services and Other expenses, net	-5954,~~877~~339	-~~221~~27,~~747~~917	-87,~~007~~860	-~~575~~576,~~743~~731	-2624,~~744~~468	-824,~~042~~479	-~~900~~715,~~160~~794	84,~~963~~633	-~~891~~711,~~197~~161
Inter-segment	-7,175	-713	-	-1,023	-50	-2	-8,963	8,963	-
Intersegment	-2,659	-603	-	-1,310	-48	-13	-4,633	4,633	-
External	-5251,~~702~~680	-~~221~~27,~~034~~314	-8(7,~~007~~860,00)	-~~574~~575,~~720~~421	-2624,~~694~~420	-824,~~040~~466	-~~891~~711,~~197~~161	-	~~-891~~(711,~~197~~161,00)
Depreciation and amortization	-78,~~044~~989	-41,~~652~~434	-32	-~~254~~262,~~372~~003	-25,~~438~~805	-59,~~884~~699	-~~368~~377,~~393~~932	-	-~~368~~377,~~393~~932
Operating provisions / adjustments	-7,811	-1,816	-3,179	-118,655	3,058	-18,447	-146,850	-	-146,850
Operational provisions / adjustments for losses	11,384	-6,483	-3,441	-165,261	2,191	-24,718	-186,328	-	-186,328
Infrastructure construction costs	-	-~~138~~95,~~924~~237	-	-1,~~231~~426,~~704~~039	-9280,~~743~~816	-	-1,~~463~~602,~~371~~092	-	-1,~~463~~602,~~371~~092
Total cost of operation	~~-200~~(174,~~369~~653,00)	-~~420~~182,~~005~~579	~~-26~~(27,~~724~~461,00)	-2,~~542~~742,~~165~~864	-~~162~~144,~~172~~926	~~-71~~(99,~~076~~985,00)	-3,~~422~~372,~~511~~468	84,~~963~~633,00	-3,~~413~~367,~~548~~835
COSTS AND EXPENSES	-~~347~~357,~~691~~404	-~~420~~182,~~120~~653	-12,~~977~~252,~~670~~250	-6,~~314~~790,~~553~~313	-~~647~~385,~~269~~836	-70101,~~472~~532	-910,~~777~~069,~~775~~988	~~555~~532,~~112~~130	-9,~~222~~537,~~663~~858
Share of gain (loss) in non-consolidated investees	-	-	-	-	-	7740,~~418~~708	7740,~~418~~708	-	7740,~~418~~708
PROFIT BEFORE FINANCE INCOME (EXPENSES) AND TAXES ON PROFIT	~~465~~364,~~891~~063	~~-36~~150,~~327~~650	-134,~~601~~273	~~955~~496,~~385~~474	~~218~~182,~~052~~709	39-37,~~650~~032	1,~~641~~122,~~050~~591	-	1,~~641~~122,~~050~~591
Net finance income (expenses)	15-4,~~614~~093	-312,~~207~~107	4,~~121~~851	-~~257~~208,~~444~~460	4-18,~~533~~624	-2637,~~577~~629	-~~262~~276,~~960~~062	-	-~~262~~276,~~960~~062
PROFIT (LOSS) BEFORE TAXES ON PROFIT	~~481~~359,~~505~~970	~~-39~~138,~~534~~543	2-29,~~520~~422	~~697~~288,~~941~~014	~~222~~164,~~585~~085	13-74,~~073~~661	1846,~~378,090~~529	-	1846,~~378,090~~529
Income tax and Social Contribution tax	-312,~~781~~497	36-27,~~693~~906	317,~~961~~761	-~~147~~5,~~391~~915	-7153,~~765~~712	2022,~~474~~482	-~~189~~49,~~809~~787	-	-~~189~~49,~~809~~787
NET PROFIT FOR THE PERIOD	~~449~~357,~~724~~473	-2110,~~841~~637	6-11,~~481~~661	~~550~~282,~~550~~099	~~150~~110,~~820~~373	33-52,~~547~~179	1796,~~188,281~~742	-	1796,~~188,281~~742


	7

CONSOLIDATED ELECTRICITY MARKET

Cemig’s consolidated electricity market

In ~~June~~September 2025 the Cemig ~~Group~~ Group invoiced approximately 9.5155 million clients – an increase of approximately ~~181~~203,000 clients, or 12.92%, in its consumer base ~~since~~ since the end of ~~June~~September 2024. Of this total number of consumers, 9,~~504~~547,~~790~~888 are final consumers, and/or represent Cemig’s own consumption; and ~~2,450~~622 are other agents in the Brazilian electricity sector.

This chart shows the ~~percentages of the~~ Cemig Group’s sales to final consumers by segment:


	8

PERFORMANCE BY COMPANY

Cemig D

Billed electricity market

	2Q25	2Q24	Change %
	3Q25	3Q24	Change %
Captive clients + Transmission for clients (MWh*)
Residential	3,~~170~~134,~~399~~386	3,~~150~~051,~~675~~336	02.67%
Industrial	5,~~483~~491,~~216~~183	5,~~771~~967,~~074~~158	–58.0%
Captive market	~~179~~168,~~077~~672	~~278~~270,~~451~~836	–3537.7%
Transport	5,~~304~~322,~~139~~511	5,~~492~~696,~~623~~321	–36.46%
Commercial, services and Others	1,~~521~~463,~~025~~579	1,~~622~~511,~~287~~590	–63.2%
Captive market	~~855~~792,~~645~~184	1930,~~037,239~~862	–1714.59%
Transport	~~665~~671,~~380~~395	~~585~~580,~~048~~728	1315.76%
Rural	~~778~~864,~~749~~312	~~767~~935,~~562~~395	1–7.56%
Captive market	~~745~~818,~~410~~697	~~752~~914,~~773~~360	–110.05%
Transport	3345,~~339~~615	1421,~~789~~035	~~125~~116.49%
Public services	~~792~~786,~~114~~763	~~831~~814,~~774~~299	–43.84%
Captive market	~~585~~546,~~326~~178	~~697~~646,~~111~~371	–1615.05%
Transport	~~206~~240,~~788~~585	~~134~~167,~~663~~928	5343.63%
Concession holders	7387,~~395~~630	7491,~~376~~045	–1.3.8%
Transport	7387,~~395~~630	7491,~~376~~045	–1.3.8%
Own consumption	6,~~992~~437	76,~~710~~763	–94.38%
Total	11,~~825~~834,~~890~~290	12,~~225~~377,~~458~~586	–34.34%
Total, captive market	5,~~542~~466,~~849~~554	5,~~923~~820,~~959~~529	–6.41%
Total, energy transported for Free Clients	6,~~283~~367,~~041~~736	6,~~301~~557,~~499~~057	–02.39%

* Excludes supply ~~offset~~compensated in Distributed Generation.

InElectricity ~~2Q25 electricity~~ billed to captive clients, plus transport of energy for Free Clients and distributors, excluding supply offset in ~~Distributed Generation,~~distributed generation, totaled 11,~~826~~834 GWh –in or3Q25 3– 4.34% less than in ~~2Q24~~3Q24. This was mainly the result of lower consumption by industrial clients (down 476.0 GWh, or 8.0%, year-on-year), rural clients (–~~287~~71.91 GWh or –57.06%), commercial clients (–~~101~~48.30 GWh or –63.24%) , and public services (–3327.75 GWh or –43.84%)~~. In~~, ~~turn this~~ mainly ~~reflected~~reflecting migration of clients to ~~DG,~~Distributed Generation and to the ~~transmission network~~Free Market. AtOn the ~~same~~other ~~time~~hand, consumption by residential clients was ~~+19~~83.71 GWh (+02.67%) higher, ~~and~~than ~~rural~~in ~~consumption was +11~~3Q24.~~2 GWh (+1.5%) higher.~~

The year-on-year reduction of 34.34% in total energy distributed comprised: a reduction of 6.41% ~~decrease~~ (~~–381~~354.10 GWh) in consumption by the captive market, and a ~~0.3%~~ reduction of 2.9% (~~–18~~189.53 GWh) in use of the network by Free Clients. Taking ~~offset~~distributed DGgeneration offset energy into account, total distributed energy was 12.0% lower than in ~~2Q24~~3Q24.

Energy distributed, by segment (%)


	9

Distribution – volume sold, by consumer sector

Industrial: Energy distributed to/for industrial clients was 8.0% less than in 3Q24, and was 46.4% of the total volume distributed by Cemig D. A large proportion was energy transported for industrial Free Clients (45.0%), which in total was 6.6% lower in volume than in 3Q25. Within the total, energy billed to captive industrial clients was 1.4% of the total distributed, and 37.7% less by volume than in 3Q24 – mainly due to migration of clients to the Free Market.

A strong impact on this reduction in industrial consumption came from migration of two major clients to the Free Market. Without this effect the year-on-year reduction in total energy distributed would have been 3.1%. Sectors with lower consumption in 3Q25 were primarily: steel, down 36.9%YoY, chemicals (down 27.9%), and ferro-alloys (down 10.4%). Consumption was higher, YoY, in extractive industries (up 3.3%), the auto industry (up 3.5%) and foods and beverages (up 1.1%).

Residential consumption was 26.5% of the total energy distributed by Cemig D in the quarter, and 2.7% higher by volume than in 3Q24. Average monthly consumption per consumer (128.3 kWh/month) was 0.4% lower than in 3Q24. On the other hand, the total number of residential clients grew by 3.1% year-on-year (Cemig D added a significant total of 200,400 new clients in the 12-month period).

Commercial and Services: Energy distributed to these consumers was 12.4% of the total distributed by Cemig D in 3Q25, and by volume 3.2% less than in 3Q24. The change has two components: (i) energy billed to captive clients 14.9% lower; and (ii) volume transported for Free Clients 15.6% higher – reflecting migration of clients to the Free Market. The lower figure for total consumption mainly reflects migration of clients to distributed generation.

Rural: This sector received 7.3% of the energy distributed by Cemig D – totaling 7.6% less by volume than in 3Q24, mainly due to a 4.0% reduction in the number of consumer units, of which a large proportion were reclassified to the residential category.

Public services: consumed 6.6% of the energy distributed in the quarter, 3.4% less by volume than in 3Q24.

Sources and uses of electricity – MWh

	2Q25	2Q24	Change %
	3Q25	3Q24	Change %
Metered market – MWh
Transported for distributors	7387,~~395~~630	6591,~~408~~045	12–3.28%
Transported for Free Clients	6,~~207~~282,~~535~~695	6,~~263~~537,~~100~~504	–03.9%
Own load + Distributed generation	8,~~792~~640,~~162~~608	8,~~891~~790,~~020~~421	–1.17%
Consumption by captive market	5,~~550~~422,~~333~~122	5,~~814~~836,~~060~~505	–47.51%
Distributed Generation market	1,505,218	1,487,050	1.2%
Distributed generation market	1,543,292	1,269,813	21.5%
Losses in distribution network	1,~~736~~675,~~611~~194	1,~~589~~684,~~910~~103	9–0.25%
Total volume carried	15,~~073~~010,~~092~~934	15,~~219~~418,~~528~~971	–12.06%

Client base

In June 2025 Cemig billed 9.49 million consumers, 1.9% more than in June 2024. Of this total, 5,543 were Free Clients using the distribution network of Cemig D.

	Jun. 2025	Jun. 2024	Change %
NUMBER OF CAPTIVE CLIENTS
Residential	8,072,997	7,872,637	2.5%
Industrial	23,754	27,406	–13.3%
Commercial, services and Others	900,319	908,389	–0.9%
Rural	388,636	405,987	–4.3%
Public authorities	74,503	71,375	4.4%
Public lighting	7,354	6,896	6.6%
Public services	13,268	13,706	–3.2%
Own consumption	830	763	8.8%
Total, captive clients	9,481,661	9,307,159	1.9%
NUMBER OF FREE CLIENTS
Industrial	2,290	1,390	64.7%
Commercial	2,914	1,950	49.4%
Rural	134	34	294.1%
Public authorities	51	4	1175.0%
Public services	146	37	294.6%
Concession holders	8	7	14.3%
Total, Free Clients	5,543	3,422	62.0%
Total, Captive market + Free Clients	9,487,204	9,310,581	1.9%

Performance by sector

Industrial: Energy distributed to industrial clients was 5.0% lower than in 2Q24, and was 46.4% of Cemig D’s total distribution. The greater part was energy transported for industrial Free Clients (44.9%), which was 3.4% lower in volume than in 2Q25. Within this total, energy billed to captive industrial clients was 1.5% of the total distributed, and 35.7% less by volume than in 2Q24 – mainly due to migration of clients to the Free Market.

The reduction in consumption by industrial users reflects (i) migration of customers to the transmission network, and (ii) lower consumption, in particular by a few sectors: Ferro-alloys (down 9.3% YoY), Chemicals (down 19.2%) and Steel (down10.6%), while there was growth in consumption by Extractive Industries (+6.0%) and Foods and Beverages (+2.5%).


	10

~~Residential consumption~~Client was 26.8% of the total energy distributed by Cemig D in the quarter, and 0.6% higher in total volume than in 2Q24. Average monthly consumption per consumer, at 130.9 kWh/month, was 1.9% lower than in 2Q24. On the other hand, the total number of residential clients increased by 2.6% year-on-year (+200,400 new clients). base

~~Commerce and~~In ~~Services:~~September ~~Energy~~2025 ~~distributed to and for these consumers~~Cemig ~~was~~billed ~~12.~~9%.54 ofmillion ~~the total distributed by Cemig D in 2Q25~~consumers, ~~and~~or ~~by volume 6~~2.2% ~~less~~more than in ~~2Q24.~~September ~~The change has two components: a 17~~2024.5% ~~reduction in~~Of ~~the~~this ~~volume~~total, ~~of energy billed to captive clients~~5,907 ~~and~~were ~~a 13.7% increase in the volume of energy transported for~~ Free Clients. ~~The~~using ~~lower figure~~the ~~for~~distribution ~~total consumption mainly reflects migration~~ network of ~~clients~~Cemig ~~to Distributed Generation~~D.

Rural: Consumption by rural clients was 6.6% of the total energy distributed and was 1.5% higher by volume than in 2Q24. This mainly reflected (i) higher consumption for irrigation, and (ii) a reduction of 0.8% in the number of consumer units in this category.

	Sep. 2025	Sep. 2024	Change %
NUMBER OF CAPTIVE CLIENTS
Residential	8,145,511	7,897,895	3.1%
Industrial	23,125	28,734	–19.5%
Commercial, Services and Others	891,177	918,607	–3.0%
Rural	383,022	399,211	–4.1%
Public authorities	75,038	72,545	3.4%
Public lighting	7,788	6,995	11.3%
Public services	13,239	13,710	–3.4%
Own consumption	845	757	11.6%
Total, captive clients	9,539,745	9,338,454	2.2%
NUMBER OF FREE CLIENTS
Industrial	2,383	1,639	45.4%
Commercial	3,104	2,146	44.6%
Rural	151	46	228.3%
Public authorities	57	4	1,325.0%
Public services	204	60	240.0%
Concession holders	8	8	0.0%
Total, Free Clients	5,907	3,903	51.3%
Total, Captive market + Free Clients	9,545,652	9,342,357	2.2%

Public services: consumed 6.7% of the energy distributed in 2Q25, and 4.8% less by volume than in 2Q24.

Direct Action of Unconstitutionality No. 7,324 – PIS/Cofins Credits on ICMS

On August 14, 2025, the Federal Supreme Court (STF) ruled on Direct Action of Unconstitutionality No. 7324, which challenges the constitutionality of Law No. 14,385/2022. This law addresses the reimbursement of taxes overpaid by electricity distribution companies to consumers. The Court confirmed the validity of the law, establishing that the excess amounts must be returned to consumers in the form of discounts on electricity bills. The Company is awaiting the publication of the ruling, at which point there will be sufficient elements to assess the potential accounting, financial, and operational impacts resulting from the decision.

More details at the following link: (Note to the financial statements (9) – Recoverable Taxes, from the 2022 Financial statements).

cemig-2022-12-31-r8frLRJW.pdf

The 2025 Annual Tariff Adjustment

~~The tariffs of~~ Cemig D’s tariffs are ~~adjusted~~re-set in May each year; and every five years are subjected to a Periodic Tariff Review, also in May. The ~~aim~~purposes of the Annual Adjustment are: is (i) to pass on to the client, in full, changes in the costs defined as “non-manageable”; inand ~~full,~~ (ii) to ~~the client, and~~ provide inflation adjustment for the costs ~~specified~~which asare ~~“manageable”~~specified in the Tariff Review as “manageable”. Manageable costs are adjusted by the IPCA inflation index, less a factor known as the ‘X Factor’, designed to capture productivity, under a system using a ~~the~~ price -cap regulatory model.

OnAneel ~~May~~(the ~~20,~~Brazilian ~~2025~~electricity regulator) ~~Aneel~~ ratified Cemig D’s last annual Tariff Adjustment on May 20, 2025, to be effective from May 28, 2025 to May 27, 2026. It ~~This~~ resulted in an average increase, for consumers, of 7.78%. The average effect for low-voltage consumers was an increase of 7.03%, and for residential consumers, an increase of 6.86%. The component percentage of the increase corresponding to manageable costs (referred to as ‘Portion B’) was 1.36%. The increase relating to non-manageable costs (‘Portion A’ – comprising purchase of energy, transmission, sector charges and non-recoverable revenues) was 6.12%. The increase in the financial components of the tariff contributed 0.30 percentage points. The item with the greatest impact on the tariff increase was the sector charges, which contributed an effect of 4.63%, reflecting an increase in the CDE (the Energy Development Account, a government sector charge).

Average effects of the Tariff Adjustment
High voltage – average	9.45%
Low voltage – average	7.03%
Average effect	7.78%

~~See~~More ~~more~~ details at this link:

https://www2.aneel.gov.br/aplicacoes/tarifa/arquivo/SEI_0111327_Nota_Tecnica_116_Cemig.pdf


	11

Five-year Tariff Reviews compared

Comparison of the Tariff Reviews made in 2023 and in the previous cycle (2018):

Five-year Tariff Reviews	2018	2023
Gross Remuneration Base R$ million	20,490	25,587
Net Remuneration Base R$ million	8,906	15,200
Average depreciation rate	3.84%	3.95%
Average depreciation rate %	3.84%	3.95%
WACC (after taxes)	8.09%	7.43%
WACC (after taxes) %	8.09%	7.43%
Remuneration of ‘Special Obligations’ R$ mn	149	272
Remuneration of ‘Special Obligations’ – R$ million	149	272
CAIMI * R$ mn	333	484
CAIMI* R$ million	333	484
QRR ** (Depreciation calculation) R$ mn	787	1007
QRR** – Depreciation R$ million	787	1,007

* CAIMI: (Cobertura Anual de Instalações Móveis e Imóveis) – Annual support for facilities.

** QRR: ‘Regulatory Reintegration Quota’ – : Gross base x annual depreciation rate.

See more details at this link: https://www2.aneel.gov.br/aplicacoes/tarifa/arquivo/NT%2012%202023%20RTP%20Cemig.pdf

~~https~~Opex and Ebitda:~~//www2~~ Realized vs.~~aneel.gov.br/aplicacoes/tarifa/arquivo/NT%2012%202023%20RTP%20Cemig.pdf~~ Regulatory

Realized Opex and Ebitda: were ~~realized~~both xbetter ~~Regulatory~~than regulatory levels in 9M25:

(R$ ~~mn)~~million

~~Realized~~Regulatory ~~Opex~~Ebitda ~~and~~is ~~Ebitda~~calculated ~~were~~by ~~both~~reference to: ~~better~~(i) remuneration ~~than~~of capital; (ii) the QRR quota (Gross base x annual depreciation rate); and (iii) a percentage of ~~regulatory~~the ~~levels~~Annual Cost of Facilities and Real Estate, published in ~~1H25~~Aneel Technical Notes at the times of Tariff Reviews and Tariff Adjustments.

Regulatory Ebitda is calculated by reference to: (i) remuneration of capital; (ii) the QRR quota (Gross base x annual depreciation rate); and (iii) a percentage of the Annual Cost of Mobile Facilities and Real Estate, published in Aneel Technical Notes at the times of Tariff Reviews and Adjustments.


	12

~~Indicators~~Supply ~~of supply~~ quality indicators – DEC ~~and~~ and FEC

InCemig’s DEC (Average Outage Duration) for the 12 months to end-~~June~~ September 2025, ~~Cemig’s~~at ~~Outage Duration indicator (DEC) was~~ 9.7634 hours, ~~higher~~was ~~than~~again within the regulatory limit of 9.48 hours. ~~The~~(down ~~Company’s~~from 9.76 hours in the 12 months to end-June). Its Average Outage Frequency indicator (FEC), ~~at 5.37 per year~~ for the same 12 months, ~~remained~~was 5.25, within the regulatory parameter, of 5.83 per year (down from 5.37 at end-June 2025).

Combating default

The Company has maintained a high level of collection actions, ~~which~~helping ~~have~~to ~~helped~~ keep the Receivables Recovery Index high – it was ~~98.~~99.09% in ~~June~~September 2025.

~~New~~Collection ~~payment channels, and online negotiation, have helped to increase the proportion~~ of ~~client~~customer ~~payments being made~~ invoices via digital channels (Brazil’s PIX instant ~~payments~~payment system, automatic ~~debits~~ monthly debit, ~~payments~~payment by credit card, ~~and~~various ~~app~~apps, etc.) was ~~– which were 67~~68.509% of ~~the~~all ~~total~~receivables collected in– ~~2Q25,~~ or 0.44409 ~~percentage~~pp ~~points~~ higher than in ~~2Q24~~3Q24. ~~A highlight is Brazil’s~~ PIX ~~instant~~was ~~payment system,~~ the method most used by clients – ~~which~~for ~~was~~a total ~~used~~of ~~for~~ 33.8 4% of the total of all ~~client~~collection ~~payments,~~– providing savings of R$ 3435.80 million in collection expenses since it was put in place in 2021.

Energy losses

Energy losses in the 12 months to ~~end-June~~September 2025, at 11.4342%, were ~~within~~below the regulatory ~~target~~minimum ~~level~~ of 11.4847%. ~~As from the date of the tariff adjustment (May 28, 2025)~~ Aneel Technical Note 53/2025 ~~updated~~specified ~~the~~an ~~method~~updated method for calculation of non-technical losses, toin ~~include~~effect ~~not~~as ~~only~~from ~~billed~~May ~~amounts~~28, ~~of energy~~2025 ~~but~~(date ~~also~~of the ~~volume~~most ofrecent ~~Distributed~~tariff ~~Generation,~~adjustment): ~~thus~~this ~~widening~~update ~~the~~now ~~scope of~~ considers the ~~calculation~~measured of energy ~~losses.~~from ~~This~~distributed ~~change~~generation ~~led~~(DG) ~~to an~~in ~~increase~~the incalculation, ~~tariff~~rather ~~coverage~~than ~~for~~billed energy ~~losses~~.

~~Highlights~~Some ofmain ~~our~~features ~~combat~~ of energy losses in 1H25 include: approximately 177,000 inspections; replacement of more than 173,000 obsolete meters; replacement of 49,000 conventional meters by smart meters (bringing the total of installed smart meters to 419,000 since the project began in September 2021); and regularization of 4,300 clandestine connections made by families living in ‘invaded’ and low-income areas, through our ~~Energia Legal program, which uses ‘bulletproofed’ networks (bringing the total of connections regularized since~~ ~~the~~combat ~~start~~ of ~~the~~energy ~~project~~losses in ~~February~~9M25 ~~2023 to 27,100). Planned for 2025 are~~were: ~~340,000 inspections; replacement of 425,000 obsolete meters; and regularization of 54,000 families in low-income communities (using ‘BT Zero’ and ‘Bulletproofed Meter Panel’ technologies).~~

approximately 284,000 inspections;

replacement of more than 287,000 obsolete meters;

replacement of 115,000 conventional meters by smart meters (bringing the total of smart meters installed since the project began in September 2021 to 514,000); and

regularization of 4,700 clandestine connections made by families living in ‘invaded’ and low-income areas, through our Energia Legal program, using ‘bulletproofed’ networks (bringing the total of connections regularized since the start of the project in February 2023 to 27,500).

For full-year 2025, a total of 340,000 inspections are planned, with replacement of 425,000 obsolete meters, and installation of external meters where consumers have repeatedly tried to achieve irregular consumption.


	13


	14

Cemig GT and Cemig ~~Holding~~holding ~~Company~~company

Electricity market

The total volume of electricity sold in ~~2Q25~~3Q25 by Cemig GT and by the holding company (‘Cemig H’), excluding sales on the ~~Wholesale~~wholesale ~~Power~~power ~~Exchange~~ exchange (CCEE), was 1716.68% higher than in ~~2Q24~~3Q24. ~~Cemig GT billed 6,352 GWh (including quota sales) in 2Q25, 31.1% more than in 2Q24.~~

~~The~~Cemig ~~holding~~GT ~~company reported~~billed ~~sales of 4~~6,~~891~~438 GWh (including quota sales) in ~~2Q25~~3Q25, 325.76% more than in ~~2Q24~~3Q25. ~~The migration of purchase contracts from Cemig GT to the holding company began in 3Q21, and has continued gradually since then. It is now around 61%.~~

OfThe ~~the total sold by the~~ holding company reported ~~and~~sales ~~Cemig~~of GT5,122 GWh in ~~2Q25~~3Q25, ~~sales~~7.3% more than in ~~the~~3Q24. Migration of energy purchase contracts from Cemig GT to ‘~~retail~~Cemig ~~market~~H’ was begun in ~~2Q25~~3Q21, ~~accounted~~has ~~for~~continued ~~343.4~~gradually ~~GWh~~since then, and is now around 61%.

	2Q25	2Q24	Change %
Cemig GT – MWh
Free Clients	3,625,816	2,930,479	23.7%
Industrial	2,441,227	1,999,042	22.1%
Commercial	1,152,685	917,519	25.6%
Rural	27,707	12,000	130.9%
Public authorities	4,197	1,918	118.8%
Free Market – Traders and Cooperatives	1,574,194	774,876	103.2%
Quota supply	565,513	560,620	0.9%
Regulated Market	554,118	545,964	1.5%
Regulated Market – Cemig D	32,580	32,617	–0.1%
Total, Cemig GT	6,352,221	4,844,556	31.1%
Cemig H – MWh
Free Clients	2,481,986	2,597,781	–4.5%
Industrial	1,978,731	2,090,040	–5.3%
Commercial	476,561	492,665	–3.3%
Rural	26,694	15,076	77.1%
Free Market – Traders and Cooperatives	2,408,829	2,116,554	13.8%
Total Cemig H	4,890,815	4,714,335	3.7%
Cemig GT + H	11,243,037	9,558,891	17.6%

Of the total sold by the holding company and Cemig GT in 3Q25, sales in the ‘retail market’ in the quarter accounted for 383.5 GWh.

	3Q25	3Q24	Change %
Cemig GT – MWh
Free Clients	3,723,919	3,070,399	21.3%
Industrial	2,552,644	2,152,180	18.6%
Commercial	1,129,355	904,242	24.9%
Rural	26,466	13,045	102.9%
Public authorities	15,454	932	1,558.1%
Free Market – Traders and cooperatives	1,648,109	950,647	73.4%
Quota supply	528,355	543,712	–2.8%
Regulated Market	504,901	527,676	–4.3%
Regulated Market – Cemig D	32,588	32,594	0.0%
Total, Cemig GT	6,437,872	5,125,028	25.6%
Cemig H – MWh
Free Clients	2,505,448	2,551,187	–1.8%
Industrial	2,056,634	2,082,965	–1.3%
Commercial	411,039	439,244	–6.4%
Rural	37,775	28,978	30.4%
Free Market – Traders and Cooperatives	2,616,481	2,223,641	17.7%
Total Cemig H	5,121,929	4,774,828	7.3%
Cemig GT + H	11,559,801	9,899,856	16.8%

Sources and uses of electricity


	15

Gasmig

Gasmig, 99.57% owned by Cemig, is the exclusive distributor of piped natural gas for the whole of ~~the state of~~ Minas Gerais State. It supplies industrial, commercial and residential users, users of compressed natural gas and vehicle natural gas, and gas as fuel for thermoelectric generation plants. Its concession expires in January 2053. ~~Cemig owns 99.57% of Gasmig.~~

Gasmig’s last Tariff Review was completed in April 2022. Highlights of that review:

§ The WACC ~~adopted~~used (real, after taxes) was reduced from 10.02% p.a. to 8.71% p.a.

The Net Remuneration Base was increased significantly, to R$ 3.48 billion.

§ The regulator recognized ~~the~~100% ~~cost~~ of PMSO (Personnel, Materials, outsourced Services ~~and~~& Other expenses) ~~in full~~.

Market (Volume in ’000 m3)	~~2022~~2023	~~2023~~2024	~~2024~~3Q24	~~1H24~~3Q25	~~1H25~~Change, 3Q24–3Q25	~~Change, 1H24 –1H25~~
Automotive	4031,~~950~~907	3122,~~907~~511	225,~~511~~558	114,~~518~~580	~~10,241~~–17.6%	~~–11.1%~~
Compressed vehicle natural gas	~~364~~541	~~541~~630	~~630~~206	~~263~~59	~~259~~–71.4%	~~–1.5%~~
Industrial	~~870~~830,~~667~~943	~~830~~786,~~943~~363	~~786~~201,~~363~~107	~~390~~79,~~394~~858	~~351,814~~–60.3%	~~–9.9%~~
Industrial compressed natural gas	1312,~~616~~473	1210,~~473~~275	102,~~275~~710	42,~~915~~209	~~4,897~~–18.5%	~~–0.4%~~
Residential	11,~~392~~912	1112,~~912~~095	123,~~095~~273	53,~~749~~756	~~6,296~~14.8%	~~9.5%~~
Co–generation	13,137	12,075	12,164	6,983	6,197	–11.3%
Co-generation	12,075	12,164	2,606	3,819	46.5%
Commercial	2321,~~114~~964	2123,~~964~~203	236,~~203~~045	116,~~085~~610	~~11,637~~9.3%	~~5.0%~~
Subtotal – conventional gas	973,240	921,815	867,241	430,907	391,341	–9.2%
Total, captive market	921,815	867,241	221,505	100,891	–54.5%
Thermal plants	37,991	–	–	–	–	–
Industrial – Free Market	92,362	97,302	20,785	129,587	523.5%
Subtotal – gas sold – captive market	1,011,231	921,815	867,241	430,907	391,341	–9.2%
Industrial compressed natural gas – Free Market	–	10,421	2,725	2,887	5.9%
Industrial – Free Market	87,133	92,362	97,302	45,903	99,966	117.8%
Thermal generation – Free Market	19,050	58,046	30,065	26,448	–12%
Industrial – Free Market	–	–	10,421	5,491	4,730	–13.9%
Total capacity contracted and used – Free Market	111,412	165,769	53,575	158,922	196.6%
Thermal – Free Market	7,119	19,050	58,046	11,304	34,067	201%
Total (captive clients + Free Market)	1,033,227	1,033,010	275,080	259,813	–5.6%
Total (captive market + Free Clients)	1,105,483	1,033,227	1,033,010	493,605	530,104	7.4%

Ebitda (R$ ’000)	~~2Q25~~3Q25	~~2Q24~~3Q24
Profit (loss) for the period	~~150~~110,~~821~~372	~~137~~130,~~823~~977
Income tax and Social Contribution tax	7355,~~468~~415	6465,~~608~~007
Net finance income (expenses)	–418,~~533~~624	118,~~937~~168
Depreciation and amortization	2324,~~734~~103	2223,~~381~~041
Ebitda per CVM Resolution 156	243,490	236,749
Ebitda, per CVM Resolution 156	208,514	227,193

~~The~~Total volume of gas ~~sold to~~distributed ~~captive~~in ~~clients~~3Q25 was 5.6% lower than in ~~1H25~~3Q24: ~~was~~captive 9market sales were 54.25% (39120,~~500 m~~600m³) lower than in ~~1H24~~3Q24, ~~while~~and ~~the~~ volume distributed to industrial ~~Free Clients~~ and ~~for~~ thermoelectric generation Free Clients was ~~121~~196.36% (76105,~~100~~400 m³) higher,. ~~resulting~~The inmain ~~total~~factor ~~volume~~in ~~7.4%~~these ~~higher.~~changes ~~Considering~~was ~~2Q25,~~migration ~~total~~of ~~volume was~~industrial upclients ~~11.8%~~to ~~YoY~~the Free Market, ~~comprising~~increasing the volume sold to ~~captive~~that ~~clients 11~~market.5% ~~(25,500~~In ~~m³)~~terms ~~lower~~of ~~and~~total volume distributed, inindustrial clients showed the ~~free~~largest ~~market~~reduction: ~~202.3% (54~~approximately 13,~~600~~000 m³), ~~higher~~compared to 3Q24.

Gasmig’s ~~Ebitda~~3Q25 inEbitda ~~2Q25~~ was 2.8.2% ~~higher~~lower than in ~~2Q24~~3Q24, ~~reflecting~~mainly due to the ~~higher~~changes in volume of gas ~~distributed~~distribution to ~~the free~~ industrial ~~customers~~clients.

~~The~~ Gasmig’s total number of ~~Gasmig’s~~ clients increased by 6.28% from ~~June~~3Q24, ~~2024~~ to a total of ~~106~~108,~~707~~682 consumers in ~~June~~3Q25 ~~2025~~ – reflecting expansion of ~~both~~ the commercial and the residential client bases (total addition of 6,100 clients).


	16

~~Consolidated~~CEMIG – Consolidated results

Net profit

~~For 2Q25,~~ Cemig reports 3Q25 net profit of R$ ~~1,188~~ 796.47 million ~~in 2Q25~~, which compares to net profit of R$ 13,~~688~~280.62 million in ~~2Q24~~3Q24. Adjusted net profit for ~~2Q25~~3Q25 is R$ ~~1,322~~780.3 2 million, compared to R$ 1,~~134~~118.4 million in ~~2Q24~~3Q24. The main factors in this result were:

§ AProfit ~~reduction~~on inthe ~~contractual~~Trading ~~assets,~~activity ~~with effect of~~ R$ ~~131~~106.37 million inlower ~~net~~than ~~profit~~in 3Q24, ~~resulting~~due ~~from~~to ~~remeasurement~~higher costs of ~~the~~acquisition ~~‘RBSE’~~of ~~(national~~energy, ~~grid)~~in ~~component~~a period of higher prices, due to the ~~changes~~need ~~made~~to byclose ~~Aneel~~open ~~Ratifying~~positions ~~Resolution~~in 3the quarter,~~469/2025~~ which were increased by non-compliance with contracts by traders in difficulties.

§ ~~Negative~~Profit ~~impact~~from ofDistribution R$ 4689.06 million onlower ~~profit~~than in ~~the Trading activity~~3Q24, ~~due~~reflecting tototal ~~the~~volume ~~exposure~~ of ~~approximately 544 MWaverage to differences in spot prices between sub-markets, considering that a significant part of the~~ energy ~~purchased~~distributed isby inCemig ~~the~~D ~~Northeast,~~(excluding ~~and~~distributed ageneration) ~~part of that energy is sold in the Southeast, Center-West and South markets~~4.4% ~~The~~lower ~~average~~than ~~price difference~~ in ~~2Q25 was more than R$ 60/MWh~~3Q24.

§ ~~There~~The ~~was~~lower aGSF ~~net~~(generation ~~gain~~scaling offactor) R$– ~~374~~at 0.965 ~~million~~in ~~from~~3Q25, ~~subsidies~~vs 0.79 in ~~Cemig~~3Q24 D,– ~~arising~~produced ~~from~~a ~~the~~negative ~~difference~~effect ~~between~~increasing ~~amounts~~the ~~foreseen~~need ~~and~~for ~~realized~~purchase of energy, in ~~the~~a ~~tariff~~scenario ~~cycle~~of ~~ended~~higher spot prices. This resulted in ~~May~~total ~~2025,~~cost ~~especially~~of ~~the~~acquisition ~~discounts~~of ~~applied~~energy toin ~~incentive-bearing~~the ~~sources,~~generation ~~and~~activity ~~Distributed~~being ~~Generation~~R$ 96 million higher.

§ ~~Cemig~~Net Dfinancial ~~distributed~~expenses 3were R$ 214.3%5 ~~less~~million ~~energy~~higher than in ~~2Q25~~3Q24, ~~than~~reflecting (i) increased gross debt, and (ii) the higher Selic rate (15.00% in ~~2Q24~~2025, vs. 10.50%–10.75% in 3Q24).

§ ~~Cemig~~Restatement ~~D’s~~of ~~annual~~post-employment ~~tariff adjustment~~liabilities, ~~valid~~due ~~from~~to ~~May~~migration ~~28, produced an average increase~~ of ~~7.78%;~~530 ~~there~~employees ~~was~~in ~~also~~3Q25 ato ~~gain from~~ the ~~change~~Premium inHealth ~~Aneel’s~~Plan ~~methodology~~(which ~~for~~creates ~~calculating~~no ~~non~~post-~~technical~~employment ~~energy~~obligations ~~losses~~for ~~(which increased~~ the ~~scope~~Company), ofproduced ~~the~~a ~~calculation~~gain toof ~~include~~R$ ~~distributed~~14.9 ~~generation)~~million.

§ The effective ~~corporate~~rate of income tax ~~rate~~ was ~~13.8%~~lower in ~~2Q25~~3Q25, ~~lower~~at ~~than~~5.9%, incompared ~~2Q24~~to ~~(21~~27.59%). in 3Q24

§ Equity income (share of gain/loss in non-consolidated investees) in ~~2Q25~~3Q25 was R$ 3820.79 million ~~higher~~lower than in ~~2Q24~~3Q24, reflecting a ~~strong~~weaker result in Taesa and Belo Monte.

~~Effects~~The inprior ~~2Q24~~year: Effects in 3Q24

§ ~~Reversal~~The sale of ~~tax~~Aliança ~~provisions~~was –completed ~~referring~~in to3Q aof ~~judgment~~2024, onwith ~~Social~~positive ~~Security~~effect ~~contributions~~ on net profit ~~sharing~~of ~~payments~~R$ –1,120.8 ~~added~~million (comprising capital gain of R$ ~~385~~1,082.7 million, toplus ~~net~~R$ ~~profit~~38.2 million reversal of provisions).

§ ~~Elimination~~The ofTransmission ~~amounts~~tariff toreview beproduced ~~repaid~~a topositive ~~consumers~~effect inof ~~2Q24~~R$ 1,003.6 ~~with~~million ~~counterpart~~– mainly reflecting (i) the investments in ~~finance~~the ~~income:~~period, ~~effect~~and of(ii) R$re-evaluation ~~271~~of ~~million~~the onAneel ~~net~~price ~~profit~~bank.

§ ~~Posting~~The ofchanged atime ~~civil~~limit ~~liability~~for ~~provision~~100% recognition of R$client ~~52.6~~credit ~~million~~default losses, ~~related~~from 24 to ~~power~~36 ~~sales~~months, ~~transactions~~to provide more faithful estimation of actual losses in practice, produced a positive effect of R$ 61.3 million.

§ ~~Success~~There inwas ~~legal~~a ~~action~~gain ~~relating~~of toR$ 36.3 million from the ~~PAT~~effect (~~Workers’~~net ~~Support~~of ~~Fund~~hedges): R$of ~~50.2~~US ~~million~~dollar ~~posted~~exchange inrate ~~Finance~~variation ~~income;~~on ~~income~~the ~~tax~~debt ~~provision~~in ~~reduced~~US ~~by R$ 31 million~~dollars.

§More R$details ~~95.3~~on ~~million negative item in net profit from effect of variation in~~ the ~~US dollar exchange rate on debt~~ variations in US3Q25 ~~dollars~~are ~~(net~~given ~~of hedge)~~below.

More details of these variations are given below.


	17

Operational revenue

	2Q25	2Q24	Change %
	3Q25	3Q24	Change %
R$ ’000
Revenue from supply of electricity	89,~~686~~079,~~379~~299	8,~~144~~556,~~077~~096	6.71%
Revenue from use of distribution systems (TUSD charge)	1,~~414~~451,~~496~~346	1,~~251~~337,~~554~~614	138.05%
CVA and Other financial components in tariff adjustments	70114,~~394~~022	~~–56~~357,~~556~~377	–~~224~~68.51%
Reimbursement to consumers of PIS, Pasep and Cofins tax credits	–	190,186	–
Operation and maintenance revenue – Transmission	96,412	144,576	–33.3%
Transmission operation and maintenance revenue	114,197	79,716	43.3%
Transmission construction revenue	132,210	112,500	17.5%
Transmission construction revenue	179,130	104,891	70.8%
Financial remuneration of transmission contractual assets	61,035	40,422	51.0%
Financial remuneration of transmission contractual assets	30,416	134,430	–77.4%
Generation capital reimbursement	33,555	21,218	58.1%
Generation: capital reimbursement	31,201	20,596	51.5%
Distribution construction revenue	1,506,855	1,262,146	19.4%
Distribution construction revenue	1,324,446	1,154,213	14.7%
Adjustment to expectation of cash flow from indemnifiable financial assets of the distribution concession	21,411	16,454	30.1%
Adjustment to expectation of cash flow from indemnifiable financial assets of the distribution concession	26,618	22,258	19.6%
Gain on financial updating of Concession Grant Fee	92,056	93,691	–1.7%
Gain on financial updating of Concession Grant Fee	118,859	107,011	11.1%
Settlements on CCEE	36,108	26,651	35.5%
Settlements on CCEE	39,585	14,380	175.3%
Retail supply of gas	613,994	1,038,057	–40.9%
Retail supply of gas	965,491	972,424	–0.7%
Fine for continuity indicator shortfall	–32,537	–29,163	11.6%
Fine for continuity indicator shortfall	–39,949	–37,084	7.7%
Other revenues	1,240,887	662,540	87.3%
Other revenues	1,315,539	761,856	72.7%
Taxes and charges reported as deductions from revenue	–3,826,912	–3,491,294	9.6%
Taxes and charges reported as deductions from revenue	–3,490,507	–3,427,961	1.8%
Net revenue	10,619,741	10,148,885	4.6%
Net revenue	10,786,295	9,435,991	14.3%

Revenue from supply of electricity

	2Q25			2Q24			Change, %
	3Q25			3Q24			Change, %
	MWh	R$ ’000	Average price billed – R$/MWh (1)	MWh	R$ ’000	Average price billed – R$/MWh (1)	MWh	R$ ’000
Residential	3,~~667~~658,~~850~~287	3,~~374~~554,~~148~~363	~~919~~971.9359	3,~~552~~449,~~969~~706	3,~~066~~123,~~719~~509	~~863~~905.1444	36.20%	1013.079%
Industrial	4,~~676~~857,~~668~~881	1,~~278~~321,~~269~~631	~~273~~275.3365	4,~~440~~581,~~313~~105	1,~~326~~378,~~674~~843	~~298~~300.7898	56.30%	–3-4.615%
Commercial, services and others	3,141,492	1,650,182	525.29	3,009,442	1,609,719	534.89	4.4%	2.5%
Commercial, Services, Others	2,950,918	1,685,040	565.12	2,847,706	1,577,181	553.84	3.6%	6.84%
Rural	~~984~~1,~~250~~084,942	~~643~~767,~~413~~867	~~653~~707.7175	~~927~~1,~~534~~116,724	~~599~~735,~~558~~049	~~646~~658.422	6–2.18%	74.35%
Public authorities	~~384~~240,~~704~~475	~~229~~231,~~246~~541	~~595~~962.985	~~270~~236,~~497~~491	~~232~~219,~~496~~664	~~859~~928.5185	421.27%	–15.4%
Public lighting	~~235~~238,~~650~~830	~~140~~163,~~046~~736	~~594~~685.358	~~244~~242,~~326~~328	~~131~~141,~~933~~116	~~539~~582.9933	–31.64%	616.10%
Public services	58201,~~262~~442	~~146~~147,~~260~~382	~~2510~~731.3863	~~235~~230,~~023~~998	~~174~~183,~~633~~657	~~743~~795.0506	–7512.28%	–1619.28%
Subtotal	13,~~148~~232,~~876~~775	7,~~461~~871,~~564~~560	~~567~~594.4785	12,~~680~~705,~~104~~058	7,~~141~~359,~~732~~019	~~563~~579.22	34.72%	47.50%
Own consumption	6,~~992~~437	–	–	76,~~710~~763	–	–	–94.38%	–
Retail supply not yet invoiced, net	–	77–113,~~702~~145	–	–	68–46,~~410~~050	–	–	–
	13,155,868	7,539,266	567.47	12,687,814	7,210,142	563.22	3.7%	4.6%
	13,239,212	7,758,415	594.85	12,711,821	7,312,969	579.22	4.1%	6.1%
Wholesale supply to other concession holders	5,042,543	1,162,502	230.54	3,952,637	966,330	244.48	27.6%	20.3%
Wholesale supply to other concession holders (2)	5,235,258	1,254,410	239.61	4,200,330	1,143,909	272.34	24.6%	9.7%
Wholesale supply not yet invoiced, net	–	~~–15~~66,~~389~~474	–	–	~~–32~~99,~~395~~218	–	–	–5233.50%
Total	18,~~198~~474,~~411~~470	89,~~686~~079,~~379~~299	~~474~~494.0715	16,~~640~~912,~~451~~151	8,~~144~~556,~~077~~096	~~487~~502.4897	9.42%	6.71%

(1) (Calculation of average price does not include revenue from supply not yet billed.)

(2)

Includes Regulated Market Electricity Sale Contracts (CCEARs) and ‘bilateral’ contracts with other agents.


	18

* Includes offset ~~Distributed Generation~~distributed ~~supply~~generation.

Energy sold to final consumers

Gross revenue from energy sold to final consumers in ~~2Q25~~3Q25 was R$ 7,~~539~~758.34 million, a 4.6.1% year-on-year increase from R$ 7,~~210~~313.10 million in ~~2Q24~~3Q24, mainly reflecting volume of energy sold 34.71% higher.

Wholesale supply

Revenue from wholesale supply in ~~2Q25~~3Q25 was R$ 1,~~147~~320.19 million, anup ~~increase of 22~~6.83% from R$ ~~933~~ 1,243.91 million in ~~2Q24~~3Q24. ~~This~~Volume ~~reflects volume~~ of energy ~~billed~~invoiced 27was 24.6% higher, led by ~~especially~~sales to Traders; average price was 12.0% lower.

Transmission

	2Q25	2Q24	Change %
TRANSMISSION REVENUE (R$ ’000)
Operation and maintenance	114,197	79,716	43.3%
Infrastructure construction, updating and enhancement	179,130	104,891	70.8%
Financial remuneration of transmission contractual assets	30,416	134,430	–77.4%
Total	323,743	319,037	1.5%

Cemig’s transmission revenue comprises: (i) Operating and maintenance revenue, (ii) Construction revenue, and (iii) financial compensation of the contractual asset. In 3Q25 it totaled R$ 289.7 million, 2.6% less than in 3Q24. This mainly reflected lower Operation and maintenance revenue; while Construction revenue was higher, due to the higher volume of funds invested in strengthening and improvement works.

Transmission revenue was R$ 4.7 million higher than in 2Q24, the increase mainly comprising construction revenue, due to the higher volume invested in reinforcement and improvement works.

Gas

Gross revenue from supply of gas in ~~2Q25~~3Q25 totaled R$ ~~965~~614.50 million, compared to R$ ~~972~~1,038.41 million in ~~2Q24~~3Q24. The ~~difference~~main iseffect ~~mainly~~was inmigration aof ~~lower~~industrial clients ~~volume~~to ~~of gas~~the ~~sold~~Free toMarket ~~industrial~~and ~~clients~~consequently lower volume sold.

Revenue from Use of Distribution Systems – the TUSD charge

	3Q25	3Q24	Change %
TUSD (R$ ’000)
Use of the Electricity Distribution System	1,451,346	1,337,614	8.5%

In 3Q25 revenue from the TUSD – charged to Free Consumers for distribution of their energy – was R$ 139.6 million higher than in 3Q24. This reflects (i) the annual tariff adjustment of Cemig D, coming into effect in May 2025, and thus with full effect in this quarter, while (ii) total volume transported for Free Clients was lower.


	19

Revenue from Use of Distribution Systems – The TUSD charge

	3Q25	3Q24	Change %
POWER TRANSPORTED – MWh
Industrial	5,322,511	5,696,321	–6.6%
Commercial	671,395	580,728	15.6%
Rural	45,615	21,035	116.9%
Public services	240,585	167,928	43.3%
Concession holders	87,630	91,045	–3.8%
Total energy transported	6,367,736	6,557,057	–2.9%

	2Q25	2Q24	Change %
TUSD (R$ ’000)
Use of the Electricity Distribution System	1,414,496	1,251,554	13.0%

In 2Q25 revenue from the TUSD – charged to Free Consumers for distribution of their energy – was R$ 162.9 million higher than in 2Q24. This reflects Cemig D’s annual tariff adjustments in May 2024 and 2025, with full effect in the quarter and from May 28, 2025, respectively.

	2Q25	2Q24	Change %
POWER TRANSPORTED – MWh
Industrial	5,304,139	5,492,623	–3.4%
Commercial	665,380	585,048	13.7%
Rural	33,339	14,789	125.4%
Public services	206,788	134,663	53.6%
Concession holders	73,395	74,376	–1.3%
Total energy transported	6,283,041	6,301,499	–0.3%

Operational costs and expenses

	2Q25	2Q24	Change %
	3Q25	3Q24	Change %
CONSOLIDATED (R$ ’000)
Electricity bought for resale	45,~~547~~163,~~303~~067	34,~~693~~567,~~227~~101	2313.10%
Charges for use of national grid	776,715	817,136	–4.9%
Charges for use of the national grid	766,046	804,946	–4.8%
Gas purchased for resale	~~485~~240,~~097~~910	~~508~~543,~~828~~988	–455.7%
Construction cost	1,~~463~~602,~~371~~092	1,~~226~~336,~~933~~151	19.39%
Personnel (reversals)	388,389	416,784	–6.8%
People	337,206	326,125	3.4%
Employees’ and managers’ profit shares	4647,~~024~~819	4340,~~187~~965	616.67%
Post-employment obligations (reversals)	109,324	98,391	11.1%
Post-employment liabilities	105,297	122,028	–13.7%
Materials	2632,~~654~~417	3334,~~591~~676	–206.75%
Outsourced services	~~527~~584,~~007~~209	~~507~~497,~~706~~493	317.84%
Depreciation and amortization	~~368~~377,~~393~~932	~~337~~345,~~779~~742	9.13%
Provisions (reversals)	~~113~~101,~~626~~408	~~–454~~85,~~184~~329	–18.8%
Impairment	–	4,438	–
Provisions for client default	60,304	–50,556	–219.3%
Provisions for client default	3,098	77,300	–96.0%
Reversal of expected related-party loss	–	–57,835	–
Provision for loss on other credits	3024,~~126~~616	247,~~592~~508	22227.59%
RBSE (national grid) remeasurement	198,895	–	–
Other costs and expenses	94,535	146,394	–35.4%
Other costs and expenses	138,641	106,190	–
Total costs and expenses	9,537,858	8,750,055	9.0%
Total	9,222,663	7,441,898	23.9%
Gain on disposal of investments	–	–1,616,911	–
Gain on purchase	–	–14,136	–
Periodic Review of Transmission Revenue	–	–1,520,631	–
Total, other revenues (expenses reduction)		–3,151,678	–
Overall total	9,537,858	5,598,377	70.4%

Operating costs and expenses ~~in 2Q25~~ totaled R$ 9.2254 billion in 3Q25, an increase of R$ 1787.788 ~~billion~~million compared to ~~2Q24.~~3Q24 ~~The main factors in the higher total were:~~ (~~i) Cost~~after ofadjusting ~~energy bought~~ for ~~resale~~items ~~was~~totaling R$ ~~854~~3.115 billion ~~million~~included ~~higher than~~ in ~~2Q24;~~3Q24: ~~(ii) construction cost was~~ R$ ~~236~~1.462 ~~million higher;~~billion ~~(ii)~~on the ~~effect~~sale of ~~remeasurement~~Aliança, ~~of reimbursements of value for assets in the national grid (‘RBE assets’) added R$ 198.9 million;~~ and ~~there were reversals of tax provisions (totaling~~ R$ ~~584~~1.352 ~~million)~~billion ~~reducing~~for ~~expenses~~the inTransmission ~~2Q24. See more details on costs~~Periodic ~~and~~Tariff ~~expenses in the following pages~~Review).

The increase reflects:

(i)

cost of electricity bought for resale R$ 596.0 million higher,

(ii)

construction cost R$ 265.9 million higher, and

(iii)

default provisions R$ 110.9 million higher; while

(iv)

the cost of gas purchased for resale was R$ 303.1 million lower

(v)

reversal of the expected loss with related party (arising from the sale of Aliança) of R$57.8 million in 3Q24

See more details on costs and expenses in the following pages.


	20

Electricity ~~purchased~~bought for resale

	2Q25	2Q24	Change %
	3Q25	3Q24	Change %
CONSOLIDATED (R$ ’000)
Electricity acquired in Free Market	12,~~656~~118,~~838~~118	1,~~269~~571,~~988~~941	3034.57%
Electricity acquired in Regulated Market auctions	1,~~046~~274,~~488~~192	1,~~035~~225,~~152~~278	14.10%
Distributed generation	~~846~~933,~~075~~718	~~697~~838,~~974~~210	2111.24%
Spot market	~~489~~481,~~394~~447	~~132~~434,~~881~~033	~~268~~10.39%
Supply from Itaipu Binacional	~~322~~306,~~822~~459	~~304~~318,~~286~~459	6–3.18%
Physical guarantee quota contracts	200,~~845~~471	~~214~~213,~~415~~402	–6.31%
Individual (‘bilateral’) contracts	~~132~~48,~~433~~827	~~122~~124,~~958~~309	7–60.7%
Proinfa	134,~~838~~839	116,~~081~~080	16.2%
Quotas for Angra I and II nuclear plants	83,~~446~~445	9492,~~393~~407	–119.67%
Credits of PIS, Pasep and Cofins taxes	–~~365~~418,~~876~~449	–~~294~~367,~~901~~018	2414.10%
	4,547,303	3,693,227	23.1%
	5,163,067	4,567,101	13.0%

The consolidated expense on electricity bought for resale in ~~2Q25~~3Q25 was R$ 45.5716 billion, an increase of ~~+23~~13.10% (R$ ~~854~~596.10 million) from ~~2Q24~~3Q24. This mainly reflects ~~several factors~~:

§ Costs of energy acquired in the Free Market (the largest item in energy costs), at R$ 12,~~656~~118.81 million, were R$ ~~386~~546.82 million (+3034.57%) higher than in ~~2Q24~~3Q24, due to: ~~needs~~(i) ~~for~~the ~~higher~~need for purchases to ~~meet~~supply the higher volume sold by the Trading activity,; ~~and~~(ii) purchases to cover ~~contractual~~shortfalls ~~agreements~~in relation to commitments signed; and (iii) higher prices in the market in 2025.

§ The total cost of ~~energy~~distributed ~~acquired~~generation ~~in the spot market~~ was R$ ~~356~~95.5 million,: ~~or 268~~11.34%, higher ~~than~~– inreflecting ~~2Q24.~~the ~~This~~continuing ~~increase~~significant ~~was~~increases ~~mainly~~in ~~caused by~~ the ~~increase~~number inof ~~the~~distributed ~~spot~~generation ~~price~~facilities (~~PLD)~~from ~~in the Southeast/Center-West submarket~~285,684 ~~which was not compensated or offset by spot prices~~ in ~~the~~3Q24 ~~Northeast~~to ~~and North submarkets~~353,985 ~~with an average difference between submarkets of more than R$ 60 per MW. The Company buys energy~~ in ~~the~~3Q25), ~~Northeast~~ and ~~North~~the ~~and~~related ~~its~~increase ~~sales are mostly concentrated~~ in the ~~Southeast~~energy ~~and~~injected Center-West, generating an exposure to the difference between spot prices between these sub-markets – with negative effect on profit of the Trading activity. In distribution, the negative effect of this exposure is mitigated by ~~the~~them ~~CVA~~ (~~‘Account~~from ~~Compensating~~1,535 ~~for~~GWh ~~Variations~~ in ~~‘Portion~~3Q24 A’to ~~items’) – which provides compensation in the next Annual Tariff Adjustment. In addition~~1,999 ~~the~~GWh ~~lower GSF~~ in ~~the quarter (0.95 in 2Q25 and 0.99 in 2Q24~~3Q25) ~~caused a higher need for purchase of energy~~.

§ The cost of ~~distributed~~energy ~~generation~~acquired in the spot market was R$ ~~148~~47.14 million, ~~(+21~~or 10.29%), higher, ~~reflecting~~than ~~an increase~~ in ~~the~~3Q24, ~~tariff~~mainly ~~for~~caused ~~buying~~by ~~DG,~~increases ~~and~~in aspot ~~20.8%~~prices ~~increase~~ in all the ~~amount~~submarkets: offrom ~~energy~~an ~~injected~~average ~~into~~of ~~the~~R$ ~~system~~165.06/MWh –in ~~totaling~~3Q24 ~~1,797~~to ~~GWh~~R$ 249.17/MWh in ~~2Q25~~3T25 – inan ~~turn~~increase ~~caused~~of by51.0%, ~~the~~associated ~~rapid~~with ~~expansion~~a oflower ~~the~~GSF ~~number~~than ofin DG2024 ~~facilities~~(0.65 ~~connected~~in ~~(they~~3Q25, ~~expanded~~vs. ~~from~~0.79 ~~273~~in 3Q24),~~000~~ incausing ~~June~~increased ~~2024~~need to ~~336,000~~purchase ~~in June 2025)~~supply.

Note that for Cemig D, ~~purchased~~ purchased energy is classified as a non-manageable cost: the difference between the amounts used as a reference for calculation of tariffs and the costs actually incurred is compensated for in the next tariff adjustment.


	21

	2Q25	2Q24	Change %
	3Q25	3Q24	Change %
Cemig D (R$ ’000)
Supply acquired in auctions on the Regulated Market	1,057,434	1,045,713	1.1%
Supply acquired in Regulated Market auctions	1,285,720	1,236,203	4.0%
Distributed generation	~~846~~933,~~075~~718	~~697~~838,~~973~~211	2111.24%
Spot supply – (CCEE power exchange)	~~333~~400,~~854~~025	~~121~~350,~~879~~492	~~173~~14.91%
Supply from Itaipu Binacional	~~322~~306,~~822~~459	~~304~~318,~~286~~459	6–3.18%
Physical guarantee quota contracts	205,~~235~~058	~~218~~217,~~530~~697	–65.18%
Individual (‘bilateral’) contracts	132,433	122,958	7.7%
Individual (bilateral’) contracts	48,827	124,309	–60.7%
Proinfa	134,~~838~~839	116,~~081~~080	16.2%
Quotas for Angra I and II nuclear plants	83,446	94,393	–11.6%
Angra I and II nuclear plants – quotas	83,445	92,407	–9.7%
Credits of PIS, Pasep and Cofins taxes	–~~198~~216,~~698~~301	–~~177~~215,~~062~~613	120.23%
	2,917,439	2,544,751	14.6%
	3,181,790	3,078,245	3.4%

Charges for use of the transmission network and other system charges

Charges for use of the transmission network in ~~2Q25~~3Q25 were R$ 776.7 million, 4.98% lower than in ~~2Q24~~3Q24.

InThis ~~the~~is ~~distribution~~classified ~~business this~~as is a non-manageable cost in the distribution business: the difference between the amounts used as a reference for calculation of tariffs and the costs actually incurred is compensated for in the next tariff adjustment.

Gas purchased for resale

The expense on acquisition of gas in ~~2Q25~~3Q25 was R$ ~~485~~240.19 million, or 455.7% less than in ~~2Q24~~3Q24 – ~~mainly~~ reflecting lower total volume ~~acquired~~of gas purchased to meet ~~the~~ demand from the Regulated Market, due to migration of important industrial customers to purchasing in the ~~regulated~~Free ~~market~~Market.

Outsourced services

Expenditure on outsourced services was 317.84% (R$ 1986.37 million) higher than in ~~2Q24~~3Q24, with the following increases as the main factors: ~~tree~~expenses ~~pruning,~~on maintenance R$ 535.2 6 million (25+21.30%) higher, led by increased preventive maintenance; ~~outsourced~~expenses ~~labor,~~on information technology R$ 513.25 million (42+38.7%) higher; ~~and~~expenses ~~costs~~on oftree ~~disconnecting~~pruning R$ 7.6 million (+33.6%) higher; and ~~reconnecting~~expenses ~~consumers’ supply~~on communication R$ 2 7.94 million (18+16.79%) higher.

~~Client~~Provisions ~~default~~for ~~provision~~client default

~~The~~A ~~expense~~provision onof ~~provisions~~R$ 60.3 million was posted for losses ~~due~~on toreceivables ~~client~~in ~~default~~3Q25, inwhich ~~2Q25~~compares ~~was~~to ~~R$ 3.1~~a ~~million,~~reversal orof R$ 7450.26 million ~~less than~~ in ~~2Q24~~3Q24. This ~~(i)~~mainly ~~reflects the~~arises ~~Company’s actions in combating default, and (ii) results~~ from the ~~revision~~change, in 3Q24 ~~(with positive effect in the subsequent 12 months)~~, of the ~~criteria~~rules for ~~accounting~~provisioning ~~overdue~~unpaid ~~client~~ receivables: ~~(increasing~~extension of the ~~threshold~~time limit for ~~posting a~~ 100% ~~loss~~recognition of unpaid receivables from 24 to 36 months, to give a more ~~faithful~~accurate estimate of ~~the~~ actual ~~market~~losses ~~practice~~on inoverdue client ~~payment~~bills in practice. This review had the effect of ~~past~~reducing ~~due~~the ~~receivables)~~provision made in 3Q24 by R$ 93.0 million.

Provisions, Expected loss on other credits, and Reversal of provision for related-party loss

~~New~~These ~~provisions~~3 oflines totaled R$ ~~113~~126.60 million ~~were posted~~ in ~~2Q25.~~3Q25, ~~This~~compared ~~compares~~to ~~with a~~ R$ ~~454.2~~35 million ~~reversal of provisions~~ in ~~2Q24~~3Q24. The main component inis ~~that~~the ~~amount was~~reversal, ain ~~reversal~~3Q24, of a R$ ~~584~~57.38 million, inprovision for ~~2024~~a related party transaction, ~~for~~arising from a ~~first~~contractual ~~instance~~obligations ~~court~~with ~~decision~~Aliança Geração: together with the sale of Cemig’s share in ~~relation~~Aliança, toan ~~Social~~agreement ~~Security~~was ~~Contributions~~made for termination and settlement of this contingency.

~~People~~Post-employment liabilities

~~Expenditure~~An onexpense ~~personnel was~~of R$ ~~388~~105.4 30 million inis ~~2Q25,~~posted ~~6.8% less than~~ in ~~2Q24.~~3Q25 ~~This~~for ~~reflects~~Cemig’s ~~lower~~post-retirement ~~expense~~obligations, on13.7% ~~the~~less ~~voluntary~~than ~~dismissal program~~ in ~~2Q25,~~3Q24 at (R$ 25122.40 million,). ~~compared~~The todifference reflects reversal of R$ 7822.16 million in ~~2Q24. Excluding this effect~~3Q25, ~~other~~due ~~main~~to ~~factors~~migration inof ~~the~~530 ~~comparison~~employees ~~were:~~to ~~(i)~~ the ~~4.6%~~ ~~salary~~new ~~increase~~health ~~under the Collective Work Agreement of November 2024; and (ii) also~~plan, awhich ~~lower~~creates ~~transfer~~no ~~of personnel costs to~~post-employment ~~investment~~obligation infor ~~2Q25~~the Company.

Post-employment – Health Plans: Agreement in collective bargaining; Under a September 2025 agreement between Cemig and two unions – the South Minas Gerais Electricity Workers’ Union (Sindsul) and the Minas Gerais Federation of Urban Industry Workers (FTIUMG) – current active employees migrated to the Premium Health Plan, 100% funded by the Company, effective as of October 1, 2025. Negotiations with other unions and associations continue. In 3Q25, no accounting effect was recorded as a result of the ratified agreement, other than those arising from the migration of active employees. More details about the agreement can be found at the following link:

https://ri.cemig.com.br/docs/Cemig-2025-09-19-QQdHkwTC.pdf


	22

~~Finance income and expenses~~People

	2Q25	2Q24	Change %
(R$ ’000)
Finance income	302,444	725,474	–58.3%
Finance expenses	–565,404	–607,355	–6.9%
Net finance income (expenses)	–262,960	118,119	–322.6%

The expense on personnel in 3Q25 was R$ 337.1 million, 3.4% more than in 3Q24. The main factor in the higher figure was the increase of 4.6% in salaries as from November 2024, under the Collective Work Agreement.

For 2Q25 the Company posted consolidated net financial expenses of R$ 263.0 million, compared to net financial revenue of R$ 118.1 million in 2Q24. Main factors:

§ Borrowing costs, and monetary updating of debentures, were a total of R$ 151.5 million higher, reflecting growth of approximately 30% in gross debt, and the increase in the Selic basic interest rate.

§ In 2Q24 there was a R$ 410.6 million write-down of liabilities posted as “Repayable to consumers”, with counterpart in Finance income – since the amount estimated by Cemig D for updating of the liability was higher than the amount calculated by using the criteria used by Aneel. In 2Q25, financial revenue of R$ 4.3 million was recognized for updating of credits due to the Company.

§ Also in 2Q24 there was a financial expense of R$ 214.5 million, from the effect on US dollar-denominated debt of 11.26% appreciation of the US dollar against the Real. There was no such effect in 2Q25, since the debt in US dollars was settled in full in December 2024.


	23

~~Gain~~Finance ~~(loss)~~income inand ~~non-consolidated investees (Equity income)~~expenses

	2Q25	2Q24	Change R$ ’000
	3Q25	3Q24	Change %
EQUITY INCOME (Gain/loss in non-consolidated investees)
(R$ ’000)
Taesa	106,958	51,707	55,251
Finance income	256,943	262,565	–2.1%
Paracambi	4,527	4,398	129
Finance expenses	–533,005	–324,110	64.5%
Cemig Sim (Equity interests)	3,920	3,534	386
Net finance income (expenses)	–276,062	–61,545	348.6%
Guanhães Energia	2,182	3,823	–1,641
Hidrelétrica Cachoeirão	1,677	832	845
Hidrelétrica Pipoca	180	6,316	–6,136
Belo Monte (Aliança Norte and Amazônia Energia)	–42,026	–27,178	–14,848
Itaocara	-	–4,721	4,721
Total	77,418	38,711	38,707

~~Equity~~For ~~income~~3Q25 ~~grew~~Cemig byreports ~~R$ 38.7~~consolidated ~~million~~Net infinance ~~2Q25~~expenses ~~compared~~of ~~to 2Q24~~R$ 276.1 ~~The main effects were (i) a stronger result in Taesa~~million, ~~and~~or ~~(ii)~~R$ a214.5 ~~weaker~~million ~~result~~more inthan ~~Belo Monte, due to higher finance expense (as a result of the higher TJLP (long-term interest rate)~~ in ~~2Q25)~~3Q24. ~~and~~Main anfactors ~~increase~~ in ~~operating costs, which were impacted by an onerous contract related to~~ the ~~difference between the volumes of energy contracted for purchase and sale in future electricity transactions.~~comparison:

Financial expenditure on debentures was R$ 186.1 million higher, due to (i) higher gross debt, and (ii) the higher Selic rate (15.00% in 3Q25, compared to 10.50%–10.75% in 3Q24).

In 3Q24 there was a positive effect of R$ 42.2 million, due to depreciation (of 1.99%) in the FX rate of the US dollar against the Real. In 3Q25, there was a positive impact of R$ 5.8 million.

Equity income (Gain (loss) in non-consolidated investees)

	3Q25	3Q24	Change R$ ’000
Gain/loss on equity in non-consolidated investees (R$ ’000)
Taesa	69,990	87,359	–17,369
Cemig Sim (Equity interests)	7,132	5,354	1,778
Paracambi	4,288	3,787	501
Hidrelétrica Cachoeirão	832	1,924	–1,092
Hidrelétrica Pipoca	316	1,123	–807
Guanhães Energia	221	–1,413	1,634
Belo Monte plant (Aliança Norte and Amazônia Energia)	–42,071	–36,477	–5,594
Total	40,708	61,657	–20,949

The total of equity income was R$ 20.9 million lower in 3Q25 than 3Q24. The main effect was the improvement in the profit of Taesa, mainly due to the deflation of the IGP-M (index that adjusts part of the company’s contract asset) from June to August 2025 (with a one-month lag) while the result of Belo Monte was weaker, on higher finance expense (due to the higher TJLP in 3Q25).


	24

CONSOLIDATED EBITDA (IFRS, and Adjusted)

Ebitda is a non-accounting metric, prepared by the Company, reconciled with its consolidated financial statements in accordance with the specifications in CVM Circular SNC/SEP 01/2007 and CVM Resolution 156 of June 23, 2022. It comprises: Net profit adjusted for the effects of: (i) Net finance income (~~expenses~~expense), (ii) Depreciation and amortization, and (iii) Income tax and the Social Contribution tax. Ebitda is not a metric recognized by Brazilian GAAP nor by IFRS; it does not have a standard meaning; and it may be non-comparable with metrics with similar titles provided by other companies. Cemig publishes Ebitda because it uses it to measure its own performance. Ebitda should not be considered in isolation or as a substitute for net profit or operational profit, nor as an indicator of operational performance or cash flow, nor to measure liquidity, nor ~~the~~ capacity for payment of debt. The Company adjusts its Ebitda (calculated in accordance with CVM Instruction 156/2022) to exclude extraordinary items which, by their nature, do not contribute to information on the potential for gross cash flow generation.

2Q25 Consolidated Ebitda
Consolidated 3Q25 Ebitda
R$ ’000	Generation	Transmission	Trading	Distribution	Gas	Holding co. and equity interests	Total
Profit (loss) for the period	~~449~~357,~~724~~473	-2110,~~841~~637	6-11,~~481~~661	~~550~~282,~~550~~099	~~150~~110,~~820~~373	33-52,~~547~~179	1796,~~188,281~~742
Income tax and Social Contr. tax	31,781	-36,693	-3,961	147,391	71,765	-20,474	189,809
Income tax and Social Contribution tax	2,497	27,906	-17,761	5,915	53,712	-22,482	49,787
Net finance income (expenses)	~~-15~~4,~~614~~093	312,~~207~~107	-4,~~121~~851	~~257~~208,~~444~~460	-418,~~533~~624	2637,~~577~~629	~~262~~276,~~960~~062
Depreciation and amortization	78,~~044~~989	41,~~652~~434	32	~~254~~262,~~372~~003	25,~~438~~805	59,~~884~~699	~~368~~377,~~393~~932
Ebitda per CVM Resolution 156	~~543~~443,~~935~~052	~~-31~~152,~~675~~084	-134,~~598~~271	1758,~~209,757~~477	~~243~~208,~~490~~514	45-27,~~534~~333	21,~~009~~500,~~443~~523
Net profit attributed to	-	-	-	-	-648	-	-648
Net profit attributed to non-controlling stockholders	-	-	-	-	-475	-	-475
non-controlling stockholders
Remeasurement of post-employment liabilities	-1,669	-1,031	-236	-19,155	-	-482	-22,573
Remeasurement of	-2,302	-1,422	-326	-16,163	-	-948	-21,161
Voluntary severance program	-238	-274	-48	-1,923	-	6	-2,477
post-employment liabilities
Adjusted Ebitda	441,145	150,779	-34,555	737,399	208,039	-27,809	1,474,998
RBSE (national grid) – remeasurement	-	198,895	-	-	-	-	198,895
Voluntary severance program	1,920	1,187	272	20,812	-	1,200	25,391
Adjusted Ebitda	543,553	166,985	-1,652	1,214,406	242,842	45,786	2,211,920

2Q24 Consolidated Ebitda
Consolidated 3Q24 Ebitda
R$ ’000	Generation	Transmission	Trading	Distribution	Gas	Holding co. and equity interests	Total
Profit (loss) for the period	~~315~~266,~~039~~761	~~108~~1,~~947~~200,250	~~101~~95,~~008~~069	1371,~~060,437~~721	~~137~~130,~~823~~975	~~-34~~1,~~668~~215,421	13,~~688~~280,~~586~~197
Income tax and Social Contribution tax	58152,~~300~~570	27487,~~512~~206	~~–576~~9,103	~~350~~95,~~163~~973	6263,~~904~~304	~~–35~~462,~~966~~267	~~462~~1,~~337~~270,423
Net finance income (expenses)	75–3,~~996~~220	41–18,~~764~~255	–63,~~921~~098	~~–305~~75,~~459~~596	118,~~937~~167	642,~~564~~355	~~–118~~61,~~119~~545
Depreciation and amortization	8378,~~670~~654	~~–60~~6,357	42	~~224~~230,~~113~~097	24,~~085~~744	5,~~967~~888	~~337~~345,~~779~~742
Ebitda per CVM Resolution 156	~~533~~494,~~005~~765	~~178~~1,~~163~~675,558	93101,~~515~~076	1773,~~329,254~~387	~~236~~227,~~749~~190	~~–103~~1,685,931	24,~~370~~957,~~583~~907
Net profit attributed to non–controlling stockholders	–	–	–	–	–593	–	–593
Net profit attributed to non-controlling stockholders	–	–	–	–	–563	–	–563
Provision for civil claims – PPAs	–	–	52,647	–	–	–	52,647
Gain on disposal of investments	–	–	–	–	–	–1,616,911	–1,616,911
Reversal of tax provisions – Social security contributions on profit sharing	–30,503	–32,967	–5,049	–513,331	–	–2,500	–584,350
Reversal of provision with related party	–	–	–	–	–	–57,835	–57,835
Voluntary severance program	9,312	10,064	1,541	56,468	–	763	78,148
Result of the Transmission Periodic Tariff Review	–	–1,520,631	–	–	–	–	–1,520,631
Adjusted Ebitda	~~511~~494,~~814~~765	~~155~~154,~~260~~927	~~142~~101,~~654~~076	~~872~~773,~~391~~387	~~236~~226,~~156~~627	–111,~~840~~185	1,~~916~~761,~~435~~967

Ebitda (IFRS) was 69.7% lower than in 3Q24, mainly due to two positive effects in the prior year: a positive item of R$ 1,520.6 million from the Periodic Tariff Review of the Transmission operation, and a positive effect of R$ 1,674.7 million from the sale of the interest in Aliança Geração.

3Q25 Adjusted Ebitda was 16.3% lower year-on-year, mainly reflecting:

Lower Ebitda in Trading, on exposure to higher prices in purchases of energy to close positions.

Total volume of electricity distributed by Cemig D (excluding distributed generation) 4.4% lower.

Impact on Generation of the lower GSF (0.65 in 3Q25 vs 0.79 in 3Q24).


	25

~~Ebitda of~~ Cemig D – Ebitda

	2Q25	2Q24	Change %
	3Q25	3Q24	Change %
Cemig D Ebitda – R$ ’000
Net profit for the period	~~550~~282,~~554~~099	1371,~~060,436~~723	-4824.1
Income tax and Social Contribution tax	~~147~~5,~~390~~915	~~350~~95,~~163~~972	-5793.98
Net finance income (expense)	~~257~~208,~~443~~460	~~-305~~75,~~458~~596	~~-184~~175.38
Amortization	~~254~~262,~~373~~003	~~224~~230,~~113~~097	13.59
Ebitda per CVM Resolution 156	1,209,760	1,329,254	-9.0
Ebitda, per CVM Resolution 156	758,477	773,388	-1.9
Voluntary severance program	20-1,~~812~~923	~~56,468~~–	-~~63.1~~
Reversal of tax provisions – social security contributions on profit sharing	-	-513,331	-
Remeasurement of post-employment liabilities	-19,155	–	-
Remeasurement of post–employment liabilities	-16,163	-	-
Adjusted Ebitda	737,399	773,388	-4.7
Adjusted Ebitda	1,214,409	872,391	39.2
New replacement value (VNR)	21,411	16,454	30.1
New replacement value (VNR)	26,618	22,258	19.6
Adjusted Ebitda less VNR	715,988	756,934	-5.4
Adjusted Ebitda less VNR	1,187,791	850,133	39.7

Cemig D posted ~~2Q25 Ebitda~~3Q25 Ebitda of R$ ~~1,209~~758.85 million, 91.09% lower than in ~~2Q24~~3Q24. Adjusted Ebitda, at R$ ~~1,214~~737.4 million), was 394.27% ~~higher~~lower than in ~~2Q24~~ 3Q24.

~~Effects~~Here are some of the main effects on Ebitda in ~~this YoY~~the comparison of 3Q25 with 3Q24:

§ ~~The~~Total ~~annual~~energy ~~Tariff~~distributed ~~Adjustment,~~(excluding distributed generation) was 4.4% lower than in ~~force~~3Q24 ~~from~~(6.1% ~~May~~lower ~~28,~~in ~~2025~~the captive market, ~~provided~~and a2.9% ~~positive~~lower ~~effect~~in the Free Market), asmainly ~~also~~due ~~did~~to: ~~the~~(i) ~~change~~migration ~~made~~to bydistributed-generation ~~Aneel~~(DG); and (ii) distribution to ~~its~~industrial ~~method~~consumers of8.0% ~~measuring~~lower ~~non~~YoY (especially in steel, chemicals and ferro-~~technical~~alloys). ~~losses~~In –the inindustrial ~~which~~user ~~Aneel~~category, ~~widened~~there was a major impact from the ~~scope~~migration of ~~the~~two ~~calculation~~large clients to ~~include~~the ~~Distributed~~Free ~~Generation~~Market. If DG-offset energy is included, ~~which~~total ~~increases~~energy ~~effective~~distributed ~~loss~~was ~~coverage~~2.0% lower than in 3Q24.

§ ~~The~~Difference ~~provision~~of ~~for~~R$ ~~client~~115.6 ~~default~~million in ~~2Q25,~~provisions ~~including~~for ~~expected~~losses ~~loss~~ on ~~other~~ receivables,: A provision of R$ 60.5 million was posted in 3Q25, vs. a reversal of R$ 4855.32 million ~~lower~~in ~~than~~3Q24. The reversal in ~~2Q24~~3Q24 was the result of alteration of the time limit for 100% recognition of unpaid receivables from 24 to 36 months, to better reflect the real profile of losses in practice. The effect of the change was R$ 93.0 million

§ AExpense ~~net~~on ~~gain~~outsourced ofservices was R$ ~~374~~71.3 million higher: within this figure, R$ 34.9 million was ~~recognized~~spent on maintenance of electrical equipment, ~~for~~led anby ~~adjustment~~preventive ~~related~~maintenance to reduce the ~~difference~~frequency ~~between~~of ~~amounts~~outages; ~~forecast~~ and ~~realized~~R$ in7.6 ~~the~~million ~~last~~was ~~tariff~~spent ~~cycle,~~on ~~especially~~tree pruning. Cemig’s DEC (Average Outage Duration) indicator in the ~~discounts~~12 ~~applied~~months to ~~incentive-bearing~~the ~~generation~~end ~~sources~~of September 2025 was 9.34 hours, within the regulatory limit of 9.48 hours (and ~~Distributed~~reduced ~~Generation~~from 9.76 hours in the 12 months to end-June 2025).

§ ~~Restatement~~A ~~of post-employment liabilities, with a~~ positive ~~effect~~item of R$ 1619.2 million onresulted ~~Ebitda~~from restatement of post-employment liabilities, due to migration of ~~557~~ employees to the Premium Health Plan in 3Q25. (~~which~~This new plan creates no post-employment ~~obligation~~obligations for the Company~~) during the window reopened for joining in April~~.)

§ New Replacement Value (VNR) ofwas R$ 2621.64 million in ~~2Q25~~3Q25, vs. R$ 2216.35 million in 2Q24.

§ Total energy distributed (excluding DG) was 3.3% lower than in 2Q24 (comprising 6.4% less in the captive market, and 0.3% less in the Free Market), mainly due to migration to DG in general, and in particular migration of two large-scale clients to the Free Market. If we include distributed-generation offsets, total energy distributed was 1.0% less than in 2Q24.

§ Expense on the voluntary severance program was R$ 20.8 million in 2Q25 and R$ 56.5 million in 2Q24.

§ The net expense on deactivation and disposal of assets was R$ 52.0 million higher than in 2Q24.

§ In 2Q24 there was a R$ 513.3 million reversal of provisions for a first instance judgment in favor of the Company in a case related to Social Security Contributions.


	26

Cemig GT – Ebitda

Cemig GT: 2Q25 Ebitda
Cemig GT: 3Q25 Ebitda
R$ ’000	Generation	Transmission	Trading	Equity interests	Total
Profit (loss) for the period	~~460~~347,~~115~~366	-6108,~~031~~473	-558,~~415~~869	-5660,~~549~~470	~~342~~386,~~120~~500
Income tax and Social Contribution tax	322,~~081~~496	~~-37~~26,~~895~~883	~~-16,295~~753	3,~~971~~604	~~-18~~33,~~138~~736
Net finance income (expenses)	~~-15~~4,~~696~~094	312,~~619~~588	-4,~~081~~851	1415,~~204~~451	-127,~~954~~282
Depreciation and amortization	7678,~~419~~987	~~5852~~3,159	32	-	82,~~274~~148
Ebitda per CVM Resolution 156	~~552~~432,~~919~~943	~~-34~~151,~~455~~103	-7512,~~788~~965	-3841,~~374~~415	~~404~~529,~~302~~666
Voluntary severance program	~~1,920~~-237	~~1,187~~-273	~~272~~-48	~~366~~-19	~~3,745~~-577
RBSE (national grid) – remeasurement	-	198,895	-	-	198,895
Remeasurement of post-employment liabilities	-1,669	-1,031	-236	-318	-3,254
Remeasurement of post-employment liabilities	-2,302	-1,422	-326	-438	-4,488
Adjusted Ebitda	431,037	149,799	-13,249	-41,752	525,835
Adjusted Ebitda	552,537	164,205	-75,842	-38,446	602,454

Cemig GT: 2Q24 Ebitda
Cemig GT – 3Q24 Ebitda
R$ ’000	Generation	Transmission	Trading	Equity interests	Total
Profit (loss) for the period	~~313~~260,~~025~~501	~~107~~1,~~131~~205,338	–225,~~360~~005	~~–69~~1,~~873~~168,543	~~327~~2,~~923~~629,377
Income tax and Social Contribution tax	58152,~~299~~571	26486,~~616~~563	~~–13~~9,~~745~~005	~~–31~~472,~~713~~950	391,~~457~~121,089
Net finance income (expenses)	75–3,~~996~~220	41–18,~~890~~090	–63,~~921~~098	79–11,~~395~~968	~~190~~–36,~~360~~376
Depreciation and amortization	83,~~669~~784	–1	42	–	83,~~673~~787
Ebitda per CVM Resolution 156	530,989	175,637	–43,022	–22,191	641,413
Ebitda, per CVM Resolution 156	493,636	1,673,812	904	1,629,525	3,797,877
Reversal of tax provisions – Social security contributions on profit sharing	–30,503	–32,967	–5,049	–2,500	–71,019
Gain on disposal of investments	–	–	–	–1,616,911	–1,616,911
Voluntary severance program	6,643	7,178	1,099	544	15,464
Reversal of provision with related party	–	–	–	–57,835	–57,835
Provision for civil action on an energy sale	22,612	24,439	3,743	1,853	52,647
Result of Periodic Tariff Review	–	–1,520,631	–	–	–1,520,631
Adjusted Ebitda	~~529~~493,~~741~~636	~~174~~153,~~287~~181	~~–43,229~~904	–2245,~~294~~221	~~638~~602,~~505~~500

~~2Q25~~Cemig ~~Adjusted~~GT reports 3Q25 Ebitda of ~~Cemig~~ GTR$ 529.7 ~~was~~million, and adjusted Ebitda of R$ ~~404~~525.38 million, 3712.07% ~~lower~~less than in ~~2Q24~~3Q24. ~~Adjusted~~The ~~Ebitda~~main ~~was~~factors ~~5.6% lower. Effects on Ebitda~~ in ~~this~~the ~~YoY~~difference ~~comparison~~are:

§ ~~Negative~~Lower ~~impact~~GSF in the ~~Trading~~quarter ~~activity~~(0.65 ~~due~~in to3Q25, ~~exposure~~vs to0.79 ~~differences~~ in ~~spot~~3Q24), ~~prices~~increasing ~~between~~the ~~submarkets~~need ~~(averaging~~for ~~more~~energy ~~than~~purchases ~~R$ 60/MWh~~ in ~~2Q25). This reflects that~~ a ~~significant~~period ~~part~~ of ~~the~~higher ~~energy~~spot ~~purchase~~prices: isnegative inimpact ~~the Northeast, while much~~ of ~~the~~R$ ~~sales~~96 ~~are in other submarkets~~million.

§ ~~Recognition~~Lower ofmargin ~~a reduction of R$ 198.9 million~~ in ~~the~~Trading, ~~value~~due ofto ~~contractual~~exposure ~~assets,~~to ~~net~~higher ofprices ~~PIS,~~for ~~Pasep~~energy ~~and Cofins taxes~~purchased, ~~resulting~~to ~~from~~close ~~remeasurement~~committed ofpositions ~~the financial component of assets~~ in ~~the national grid, under the changes made by Aneel Ratifying Resolution 3469/2025~~3Q25.

§ ~~Equity~~Revenue ~~income~~from ~~(gain/loss~~solar ingeneration ~~non–consolidated investees)~~ R$ ~~16.9~~27 million ~~weaker~~higher, ~~led~~with ~~by a weaker result in Belo Monte result, due to higher finance expenses caused by~~ the ~~increase~~conclusion inof ~~the~~two ~~TJLP~~solar ~~(long-term)~~generation ~~interest~~plants: ~~rate~~Boa inEsperança ~~2Q25~~and Jusante.

§ ATransfer ~~lower~~of ~~GSF~~a third-party provision of R$ 63 million, relating to arbitrage in the ~~quarter~~Trading activity, from Cemig GT to the Holding company (~~0.95~~with inpositive ~~2Q25~~effect for GT, ~~vs.~~and ~~0.99~~neutral effect in ~~2Q24)~~the ~~caused~~Consolidated aresult), ~~greater~~due ~~need~~to ~~for~~change ~~purchase~~ of ~~energy~~defendant.

§ ~~The~~Excluding ~~expense~~spot sales on the ~~voluntary~~CCEE ~~severance~~(the ~~program~~wholesale inenergy ~~2Q25~~exchange), atthe R$volume ~~3.7~~of ~~million,~~energy sold in 3Q25 was ~~lower~~25.6% higher than in ~~2Q24 (R$ 15~~3Q24.~~5 million).~~

§ Migration of employees to the Premium ~~Heath~~Health Plan (which causes no post-employment obligation for the Company) caused a positive effect of R$ 43.53 million in ~~Ebitda~~3Q25.

Main factors in the prior year (result of 3Q24):

In 3Q24 there was a gain of R$ 1,674.7 million on the sale of the interest in Aliança Geração (comprising: capital gain of R$ 1,616.9 million, plus R$ 57.8 million reversal of a provision related to a contractual obligation to Aliança).

The Transmission Tariff Review resulted in recognition of positive effects totaling R$ 1,520.6 million, due to updating of contractual assets.


	27

§ Excluding spot sales in the CCEE (wholesale Energy Exchange), the volume of energy sold was 31% more than in 2Q24.

Investments

Capex in the first ~~half~~nine months of 2025 (9M25) totaled R$ 24.7573 billion, 1217.60% more than in ~~1H24~~9M24. ~~Realized~~Investment ~~investment~~ realized in ~~2Q25~~the quarter (3Q25) totaled R$ 1.54 98 billion.

Highlights inof ~~1H25~~9M25 ~~were:~~– ~~Investment~~In ofthese nine months Cemig has invested R$ 2.16 billion byin ~~Cemig D (Distribution)~~distribution, ~~(i)~~including: ● ~~connecting~~connection of more than 82140,000 new clients, ~~(ii)~~● ~~energizing 9~~14 new substations, (~~iii) installing~~adding ~~more~~+205 ~~than~~MVA ~~49,000~~to ~~smarts,~~the ~~and (iv~~network); ● ~~adding~~installation ~~2,600 km~~ of ~~medium~~a ~~and~~further 115,000 ~~low~~smart ~~voltage networks~~meters; ~~in Transmission,~~ ● investment of R$ ~~173~~253 million in strengthening and enhancement of the ~~power~~transmission ~~line~~ network; in● extension of ~~solar~~the ~~Distributed~~concession ~~Generation~~of 3 plants, ~~addition~~ with purchase of 21credits ~~MWac~~at the GSF auction (R$ 199 million); ● addition of 31 MWp of installed capacity –in photovoltaic distributed generation; and ● construction by Gasmig of ~~100~~151 km of gas pipelines ~~by Gasmig~~.

~~Execution~~This execution of the largest investment program in Cemig’s history will modernize its electricity system, ensuring reliability, in line ~~with~~ with its strategic plan of focusing on Minas Gerais and on its core businesses, and providing ever-improving service to ~~the client~~Cemig’s clients. Investment totaling R$ 39.20 billion is planned for the period 2025–29, of which R$ 6.35 billion is being invested in 2025.


	28

Debt

CONSOLIDATED (R$ ’000)	~~Jun~~Sep. 2025	2024	Change, %
Gross debt	15,~~263~~411,~~937~~389	12,279,300	2425.35%
Cash and equivalents + Securities	32,~~035~~317,~~296~~043	2,390,743	27–3.01%
Net debt	1213,~~228~~094,~~641~~346	9,888,557	2332.74%
CEMIG GT – R$ ’000	Jun. 2025	2024	Change, %
CEMIG GT (R$ ’000)	Sep. 2025	2024	Change, %
Gross debt	1,~~689~~920,~~097~~597	1,031,924	6386.71%
Cash and equivalents + Securities	~~631~~922,~~018~~136	542,566	1670.30%
Net debt	1998,~~058,079~~461	489,358	~~116~~104.20%
CEMIG D (R$ ’000)	~~Jun~~Sep. 2025	2024	Change, %
Gross debt	12,~~333~~378,~~041~~020	10,037,621	2223.93%
Cash and equivalents + Securities	1772,~~692,384~~772	1,114,866	51–30.87%
Net debt	1011,~~640~~605,~~657~~248	8,922,755	1930.31%

In ~~2Q25, Cemig D concluded its 13th debenture issue, for R$ 1.89 billion, in two series~~3Q25:

Series	Quantity	Value in R ’000	Rate	Maturity	Amortization
1st	1,143,000	R$ 1,143,000	CDI + 0.64% p.a.	1,831 days	48th and 60th months
2nd	752,000	R$ 752,000	CDI + 0.80% p.a.	2,562 days	72nd and 84th months

(i) Cemig GT raised US$40 million, in a transaction with one-year maturity and a linked full swap.

~~Also~~(ii) inGasmig ~~2Q25,~~settled a ~~Cemig~~total Dof ~~amortized~~ R$ 295.050 ~~billion~~million: ofthe ~~its~~second ~~7th~~amortization ~~and~~tranche ~~9th~~of its 8th debenture ~~issues~~issue.

	3Q25	9M25
DEBT AMORTIZED – R$ ’000
Cemig GT	–	–
Cemig D	0	2,368,868
Others	95,000	95,000
Total	95,000	2,463,868


	29

	2Q25
DEBT AMORTIZED – R$ ’000
Cemig GT	–
Cemig D	2,368,868
Others	–
Total	2,368,868


	30

Cemig’s long-term ratings

Cemig’s ratings ~~have~~ have improved very significantly in recent years, – and are ~~currently~~now at their highest ever levels. InThe ~~2021~~main ~~the~~news ~~three~~in ~~principal~~3Q25 ~~rating~~was ~~agencies upgraded~~the ~~their~~upgrade ~~ratings~~to ~~for~~AAA ~~Cemig.~~by Inone ~~April~~more ~~2022, Moody’s again upgraded its~~ rating ~~for Cemig~~agency, bythis ~~one~~time ~~notch. In May 2024,~~ Moody’s ~~raised its rating to AA+. In October Fitch raised its rating to AAA~~, ~~the highest of all ratings on the Brazilian scale, recognizing: (i) consistent results and cash generation, (ii) a diversified asset base, and (iii) discipline~~ in ~~capital allocation~~September. ~~More details in this table:~~

(Cemig ratings – Background:)

● In 2021 the three leading agencies upgraded their ratings for Cemig.

● In April 2022, Moody’s made a further upgrade, by one notch.

● In May 2024, Moody’s raised its rating to AA+.

● In October 2024 Fitch raised its rating to AAA, the highest on its Brazilian scale, stating recognition of:

(i)

consistent results and cash generation;

(ii)

a diversified asset base; and

(iii)

discipline in capital allocation.

More details in this table:


	31

ESG: –Engagement ~~Report~~and on performance

Cemig ~~fulfills~~has ~~its~~established public commitments ~~related~~in toterms of sustainability by– ~~implementing~~for which it executes strategic initiatives, monitored ~~through~~by corporate indicators and goals. These commitments ~~are~~subdivide ~~subdivided~~ into ~~several~~five ~~pillars~~key areas: (i) ~~The~~the energy transition;, (ii) ~~The~~the environment;, (iii) ~~Local~~local development;, (iv) ~~Our~~our people; and (v) ~~Solid~~solid governance.

Cemig ESG highlights

§Energy ~~Digitalization~~Transition: ~~of service channels~~highlight

~~80%~~In ofdecarbonization ~~customer service~~– ~~encounters between~~ Cemig ~~and~~is ~~its~~making ~~clients now take place via digital channels – a~~ significant ~~advance~~progress ~~in modernizing processes~~ and ~~the~~ ~~efficiency~~can ofassert ~~our~~its ~~corporate~~leadership ~~governance~~position. ~~This digital transformation helps increase transparency, reduce operational costs and improve clients’ experience.~~

~~Environment~~It has already met its commitment to offset 100% of scope 1 emissions by 2026, in relation to the company’s 2024 inventory (the 2025 figures are yet to be finalized). Cemig companies will continue to offset their emissions in the coming years.

§In ~~Combating~~distributed ~~fire~~generation, evidencing ~~and~~its ~~protecting~~continuing ~~the~~major ~~power~~initiatives, ~~grid~~Cemig has connected over 5.5 GW of distributed generation capacity – already well over half of its 2028 target of 7 GW.

InEnvironment: ~~2024, Cemig suffered 1,240~~highlight fire-caused events, affecting around 1.5 million people in Minas Gerais. To reduce the risk of outages, in 2025 the Company announced preventive actions and a robust budget for tree pruning and power grid maintenance.

§Fulfilling ~~Investments~~a insignificant ~~preventive~~environmental commitment ~~maintenance~~ahead of time, Cemig has completed the diagnosis of ecosystem services impacts and dependencies – which was scheduled for 2026.

The Company is investing R$ 360 million in preventive maintenance in 2025, focusing on modernization of substations, strengthening of networks and actions against extreme weather events. More than 3.6 tons of telecommunication cables improperly installed on electricity poles were also removed, contributing to safety, visual quality and proper functioning of electricity infrastructure.

Social

Expansion of the Social Electricity Tariff

§ Cemig now serves more than 1.5 million families charged at the Social electricity rate (Tarifa Social de Energia Elétrica – TSEE), which offers up to 65% discount on the client's electricity bill. The Company has intensified communication actions to expand access to the program. In this quarter alone, 93,000 clients in the Zona da Mata region were included in the benefit.


	32

~~Energy~~Local ~~efficiency~~development: ~~in hospitals and healthcare centers~~highlight

§Cemig Acontributes ~~total~~to local ofdevelopment R$with ~~1.1~~numerous ~~million~~projects ~~has~~that ~~been~~are ~~invested~~beneficial into ~~modernizing~~ the ~~lighting~~public. ofOne ~~137~~example ~~health~~is ~~units~~its incommitment ~~Belo~~to ~~Horizonte~~benefit at least 60,000 people with ~~replacement~~projects offor ~~existing~~infancy, ~~lamps~~the byelderly ~~more~~and ~~efficient~~sport ~~models~~by 2027. ~~This~~So ~~reduces~~far ~~energy~~in ~~consumption~~2024 and 2025 just under 50,000 ~~while~~people ~~improving~~have ~~working~~benefited from ~~conditions~~actions ~~for~~that ~~healthcare~~expand ~~professionals~~opportunities, strengthen communities and contribute to quality of life.

§Our R$People: 493,000 was allocated to replacing an autoclave at the Eliane Martins Municipal Hospital in Ipatinga. The new technology makes sterilization faster and safer, with an average saving of 52.57 MWh per year.highlight

§We ~~Solar~~support ~~generation~~and ~~was~~subscribe to ~~installed~~the atMind ~~the~~in ~~Nossa~~Focus ~~Senhora~~Program ~~dos~~of ~~Anjos~~the ~~Hospital~~UN Global Compact in ~~Itambacuri,~~Brazil – dedicated to ~~reduce~~promoting ~~costs~~employee mental health and well-being: reinforcing our commitment to a healthy and inclusive work environment.

~~Menstrual~~Solid ~~Dignity campaign;~~governance: ~~Volunteering~~highlight

§Maintaining ~~Expanding~~ its ~~commitment~~long-upheld high tostandards ~~gender~~of ~~equity~~ethics and ~~social inclusion~~transparency, Cemig complies with the targets set by the UN Global Compact Transparency Movement: 30,000 professionals of Cemig ~~Volunteering~~supplier ~~Program~~companies ~~organized~~have abeen ~~campaign~~trained toin ~~collect~~the ~~menstrual~~Cemig ~~hygiene~~Code ~~items~~of Conduct, ~~for~~disseminating ~~free~~the ~~distribution,~~culture of ~~promoting~~responsible ~~citizenship~~practices throughout the Company’s supply and ~~awareness~~service ~~about~~chain. ~~menstruation,~~Underlining ~~combating~~its ~~any~~commitment ~~associated~~to ~~stigma,~~data protection and ~~improving~~integrity of ~~health~~the ~~for~~value ~~people~~chain, inCemig ~~situations~~has also maintained a zero rate of ~~vulnerability~~cybersecurity incidents.

~~Cemig~~Sustainalytics: ~~present in the~~an ~~leading~~overall ~~sustainability~~highlight ~~indices~~

Sustainalytics reports Cemig rising significantly in its Sustainability Ratings, rating its ESG Risk Score now at 20.4 – this positions Cemig in the medium risk category, with high performance in ESG management. This score is an improvement of 1.9 points from the prior assessment, indicating progress superior to the majority of its peers in levels of management of environmental, social and governance risks.

Sustainalytics’ ESG Rating is one of the leading global references for investors and stakeholders to assess companies’ performance in sustainability. Cemig’s increasing scores in this rating underline its commitment to responsible practices, and further its attractiveness for investors who prioritize ESG criteria.

It also positions Cemig as a power sector leader in sustainability, especially among companies with similar market cap.

Cemig: presence in the leading sustainability indices


	33

Indicators

We have reorganized our records of sustainability indicators to align with our new Cemig Materiality Matrix (pages 6–7 of the Cemig Sustainability Report). This matrix classifies eight themes as material: three are considered in two categories, four are classified as having financial materiality, and one is categorized as material for impact. This reorganization aims to strengthen the coherence between the reported indicators and the themes that are priority for Cemig and its stakeholders.

Climate change	1Q25	2Q25	3Q25
Consumption of renewable fuels (GJ) (9M25)	5,348.12	7,811.80	5,756.98
Consumption of non-renewable fuels (GJ) (9M25)	27,835.67	23,602.24	31,287.54
Index of energy losses in the National Grid (%)	8.01	8.01	8.01
Total energy losses in distribution *	10.49	11.43	11.42
% of generation from renewable sources	100	100	100
Cemig total reforestation, hectares	83.52	0 **	0 **

Effective from 2Q25, Aneel changed the methodology for this measurement (CP 09/2024 specifies the metered market, not the billed market).

Reforestation figures for 2Q and 3Q are zero because Cemig plants only in the rainy season.

Renewable energy	1Q25	2Q25	3Q25
Electricity consumption per employee (MWh)	2.08	1.81	1.69
I–RECs (renewable-source certificates issued by independent bodies)	633,307	340,652	151,655
Cemig RECs (renewable-source certificates issued by Cemig)	3,342,179	611,189	388,760
Number of smart meters installed	–	–	71,116

Water resources	1Q25	2Q25	3Q25
Water consumption (m³)	47,016.37	19,124.43	20,298.87*
Surface Water Monitoring Management Indicator (IGMAS) (%)	100	100	100

* For Cemig GT only. The figure for Cemig D has not yet been calculated.

Personnel health and safety	1Q25	2Q25	3Q25
Accident frequency rate (employees + outsourced) (9M25)	2.63	3.12	3.02
Number of fatal or non-fatal accidents with the public (9M25)	16	33	41


	34

Performance of Cemig’s shares

Local communities	1Q25	2Q25	3Q25
Allocated to the Children’s and Adolescents’ Fund (FIA) R$	820,320	475,810	475,178
Allocated to the Fund for the Aged R$	820,320	475,810	475,178
Allocated via the Sports Incentive Law R$	8,558,614	951,621	950,358
Allocated to culture R$	27,321,771	65,990,411	10,251,154

Security	Jun. 30, 2025	Dec. 31, 2024	Change, %
Customer satisfaction and transparency	1Q25	2Q25	3Q25
Prices (2)
DEC = Consumer Average Outage Duration (hours) (to Sep. 2025)	9.44	9.77	9.34
CMIG4 (PN) at the close (R$/share)	10.8	10.06	7.39%
FEC = Consumer Average Outage Frequency (to Sep. 2025)	5.22	5.36	5.24
CMIG3 (ON) at the close (R$/share)	15.28	13.63	12.07%
CIG (ADR for PN shares), at close (US$/share)	1.96	1.65	19.15%
CIG.C (ADR for ON shares) at close (US$/share)	2.76	2.32	18.93%
XCMIG (Cemig PN shares on Latibex), close (€/share)	1.66	1.71	–2.92%
Average daily trading
CMIG4 (PN) (R$ mn)	143.02	143.11	–0.06%
CMIG3 (ON) (R$ mn)	4.18	3.75	11.58%
CIG (ADR for PN shares) (US$ mn)	5.7	4.32	31.97%
CIG.C (ADR for ON shares) (US$ mn)	0.01	0.03	–66.40%
Indices
IEE	101,295	77,455	30.78%
IBOV	138,855	120,283	15.44%
DJIA	9,554	8,974	6.47%
Indicators
Market valuation at end of period, R$ mn	35,176	35,149	0.08%
Enterprise value (EV), R$ mn (1)	45,724	42,668	7.16%
Dividend yield of CMIG4 (PN) (%) (3)	17.72	11.96	5.76 pp
Dividend yield of CMIG3 (ON) (%) (3)	12.53	9.08	3.45 pp
(1) EV = (Market valuation [= R$/share x number of shares]) + (consolidated Net debt).
(2) Share prices adjusted for corporate action payments, including dividends.
(3) (Dividends distributed in last 4 quarters) / (Share price at end of the period).

Cemig’s shares, by volume (aggregate of common (ON) and preferred (PN) shares), were the fourth most liquid in Brazil’s electricity sector, and among the most traded in the Brazilian equity market. On the New York Stock Exchange the volume traded in ADRs for Cemig’s preferred shares (CIG) in 1H25 was US$ 695.92 million: we see this as reflecting recognition by the investor market and reaffirmation of Cemig as a global investment option. The benchmark Ibovespa index of the São Paulo Stock Exchange rose 19.15% in the period, while Cemig’s preferred shares rose 7.39% and its 12.07%. In New York the ADRs for Cemig’s preferred shares rose 19.15% in the same period, and the price of the common shares rose 18.93%.

Ethical conduct and integrity	1Q25	2Q25	3Q25
Total accusations received	344	376	224
Total completed cases ruled valid or partially valid	16	20	37
Number of clients, consumers and employees suffering significant damage due to violations related to Privacy and Personal Data Protection	0	0	0
Number of independent Board members	8	8	8
% of shares held by members of Boards	0	0	0


	35

~~Plant~~Cemig’s shares and ADRs

Plant	Company	Cemig power (MW)	Cemig physical guarantee (MW)	End of the concession	Type	Cemig stake
Security	Sep. 2025	2024	Change
Emborcação	Cemig GT	1,192	475	May 2027	Hydro plant	100.00%
Prices (2)
Nova Ponte	Cemig GT	510	257	Aug. 2027	Hydro plant	100.00%
CMIG4 (PN) at the close R$/share	11.15	9.87	12.99%
Três Marias	Cemig GT	396	227	Jan. 2053	Hydro plant	100.00%
CMIG3 (ON) at the close R$/share	14.48	13.44	7.76%
Irapé	Cemig GT	399	198	Sep. 2037	Hydro plant	100.00%
CIG (ADR for PN shares), at close US$/share	2.03	1.58	28.27%
Salto Grande	Cemig GT	102	74	Jan. 2053	Hydro plant	100.00%
CIG.C (ADR for ON shares) at close US$/share	2.73	2.32	17.64%
Sá Carvalho	Sá Carvalho	78	54	Aug. 2026	Hydro plant	100.00%
Average daily trading
Rosal	Rosal Energia	55	28	Dec. 2035	Hydro plant	100.00%
CMIG4 (PN) R$ mn	130.88	143.11	–8.54%
Itutinga	Cemig Ger. Itutinga	52	27	Jan. 2053	Hydro plant	100.00%
CMIG3 (ON) R$ mn	3.66	3.75	–2.42%
Boa Esperança	Cemig GT	85	25	Aug. 2057	Solar plant	100.00%
CIG (ADR for PN shares) US$ mn	5.34	4.32	23.61%
Camargos	Cemig Ger. Camargos	46	22	Jan. 2053	Hydro plant	100.00%
CIG.C (ADR for ON shares) US$ mn	0.01	0.03	–66.31%
Três Marias Jusante	Cemig GT	70	20	Feb. 2058	Solar plant	100.00%
Indices
Volta do Rio	Cemig GT	42	18	Dec. 2031	Wind plant	100.00%
IEE	108,649	77,455	40.27%
Poço Fundo	Cemig GT	30	17	May 2052	Small Hydro Plant	100.00%
IBOV	146,237	120,283	21.58%
Pai Joaquim	Cemig PCH	23	14	Oct. 2034	Small Hydro Plant	100.00%
DJIA	9,908	8,974	10.41%
Piau	Cemig Ger. Sul	18	14	Jan. 2053	Hydro plant	100.00%
Indicators
Praias do Parajuru	Cemig GT	29	8	Sep. 2032	Wind plant	100.00%
Market valuation at end of period R$ mn	35,082	35,149	–0.19%
Gafanhoto	Cemig Ger. Oeste	14	7	Jan. 2053	Hydro plant	100.00%
Enterprise value (EV) R$ mn (1)	47,373	42,668	11.03%
Peti	Cemig Ger. Leste	9	6	Jan. 2053	Hydro plant	100.00%
Dividend yield of CMIG4 (PN) (%) (3)	13.13	11.96	1.17 pp
Joasal	Cemig Ger. Sul	8	5	Jan. 2053	Hydro plant	100.00%
Dividend yield of CMIG3 (ON) (%) (3)	10.11	9.08	1.02 pp
Tronqueiras	Cemig Ger. Leste	9	3	Dec. 2046	Hydro plant	100.00%
(1) EV = (Market valuation [= R$/share x number of shares]) + (consolidated Net debt).
Queimado	Cemig GT	87	53	July 2034	Hydro plant	82.50%
(2) Share prices adjusted for corporate action payments, including dividends.
Belo Monte	Norte	1,313	534	Jul. 2046	Hydro plant	11.69%
(3) (Dividends distributed in last 4 quarters) / (Share price at end of period).
Paracambi	Paracambi Energética	12	10	Jan. 2034	Small Hydro Plant	49.00%
Cachoeirão	Hidrelétrica Cachoeirão	13	8	Jan. 2046	Small Hydro Plant	49.00%
Pipoca	Hidrelétrica Pipoca	10	6	Dec. 2034	Small Hydro Plant	49.00%
Others		76	37
Subtotal		4,678	2,146
Cemig Sim	Equity interests	22.6	5.5		Solar plant	49.00%
Cemig Sim	Owned	48.3	13.1		Solar plant	100.00%
Total		4,749	2,165

~~Note: The~~By ~~physical~~aggregate ~~guarantees~~volume of ~~the~~its common ~~Boa~~(ON) ~~Esperança~~ and ~~Jusante~~preferred ~~plants~~(PN) ~~are~~shares ~~the values certified by a certifying company~~traded, ~~but~~ ~~they have not been approved by Aneel. For the plants of~~ Cemig ~~Sim,~~was the ~~installed~~fourth ~~capacity~~most isliquid ~~given~~company in ~~MWac~~Brazil’s electricity sector, and among the ~~physical~~most ~~guarantee~~traded ~~has been estimated~~ in the ~~table~~Brazilian asequity ~~being equal to the estimated generation~~market.

~~There~~On the NYSE, volume ~~are~~traded ~~more~~in ~~details~~ADRs offor Cemig ~~Sim'~~’s ~~expansion~~preferred ~~projects~~shares on(CIG) in 9M25 was US$ 993.78 million: we see this as reflecting recognition by the ~~next~~investor ~~page~~market, reaffirming Cemig as a global investment option.

The benchmark Ibovespa index of the São Paulo Stock Exchange rose 21.58% in 9M25, while Cemig’s PN (preferred) shares rose 12.99% and its common shares (ON) rose 7.76%. In New York the ADRs for Cemig’s preferred shares rose 28.27% in the period, and the ADRs for its common shares rose 17.64%.


	36

~~Expansion~~Cemig’s ~~of solar~~ generation plants

Project	Company	Installed capacity (MWac)	Capacity (MWp)	Expected generation (MWaverage)	Planned operational start date
Plant	Company	Cemig power (MW)	Cemig physical guarantee (MW)	End of concession	Type	Cemig interest
Ouro Solar Project	Cemig Sim	22.5	31.9	6.2	Aug. 2025 – Apr. 2026
Emborcação	Cemig GT	1,192	475	May 2027	Hydroelectric	100.00%
Bloco Azul project	Cemig Sim	20.0	28.3	4.9	Aug. 2025 – Apr. 2026
Nova Ponte	Cemig GT	510	257	Aug. 2027	Hydroelectric	100.00%
Solar do Cerrado Project	Cemig Sim	50.0	70.0	10.5	Sep. 2025 – May 2026
Três Marias	Cemig GT	396	227	Jan. 2053	Hydroelectric	100.00%
Total		92.5	130.3	21.6
Irapé	Cemig GT	399	198	Oct. 2040	Hydroelectric	100.00%
Salto Grande	Cemig GT	102	74	Jan. 2053	Hydroelectric	100.00%
Sá Carvalho	Sá Carvalho S.A.	78	54	Aug. 2026	Hydroelectric	100.00%
Rosal	Rosal Energia S.A.	55	28	Dec. 2035	Hydroelectric	100.00%
Itutinga	Cemig Ger. Itutinga	52	27	Jan. 2053	Hydroelectric	100.00%
Boa Esperança*	Cemig GT	85	25*	Aug. 2057	Solar	100.00%
Camargos	Cemig Ger. Camargos	46	22	Jan. 2053	Hydroelectric	100.00%
Três Marias Jusante*	Cemig GT	70	20*	Feb. 2058	Solar	100.00%
Volta do Rio	Cemig GT	42	18	Dec. 2031	Wind	100.00%
Poço Fundo	Cemig GT	30	17	Jun. 52	Small Hydro	100.00%
Pai Joaquim	Cemig PCH S.A.	23	14	Sep. 2041	Small Hydro	100.00%
Piau	Cemig Ger. Sul	18	14	Jan. 2053	Hydroelectric	100.00%
Praias do Parajuru	Cemig GT	29	8	Sep. 2032	Wind	100.00%
Gafanhoto	Cemig Ger. Oeste	14	7	Jan. 2053	Hydroelectric	100.00%
Peti	Cemig Ger. Leste	9	6	Jan. 2053	Hydroelectric	100.00%
Joasal	Cemig Ger. Sul	8	5	Jan. 2053	Hydroelectric	100.00%
Tronqueiras	Cemig Ger. Leste	9	3	Dec. 2046	Hydroelectric	100.00%
Queimado	Cemig GT	87	53	Jun. 2041	Hydroelectric	82.50%
Belo Monte	Norte	1,313	534	Jul. 2046	Hydroelectric	11.69%
Paracambi	LightGer	12	10	Jan. 2034	Small Hydro	49.00%
Cachoeirão	Hydro Cachoeirão	13	8	Jan. 2046	Small Hydro	49.00%
Pipoca	Hydro Pipoca	10	6	Dec. 2034	Small Hydro	49.00%
Others		76	37
Subtotal		4,678	2,146
Cemig Sim (MWp)	Equity interests	22.6	5.5		Solar	49.00%
Cemig Sim (MWp)	Owned	56.7	14.6		Solar	100.00%
Total		4,757	2,166

~~RAP: July~~* ~~2025–June~~The ~~2026~~physical ~~cycle~~guarantees for Boa Esperança and Jusante are the values certified by a certifying company but have not been approved by Aneel.

~~The~~For the ~~values~~plants of ~~RAP~~Cemig ~~for~~Sim, the ~~2025–2026~~ ~~cycle~~installed ~~came~~capacity ~~into~~is ~~effect~~given in ~~July 2025~~MWac, and ~~incorporating~~physical ~~the~~guarantee ~~effects~~has ~~for~~been ~~Cemig~~estimated ofin the ~~remeasurement~~table ofas ~~the~~being ~~RBSE~~equal ~~(national~~to ~~grid) financial~~the ~~component,~~estimated ~~as defined by Aneel~~generation.

ANEEL RATIFYING RESOLUTION (ReH) 3381/2025 (2025–2026 cycle)
R$ ’000	RAP	Adjustment component	Total	Expiration
Cemig	1,245,408	60,207	1,305,615
Cemig GT	1,164,296	62,435	1,226,731	Dec. 2042
Cemig Itajubá	52,484	-1,061	51,423	Oct. 2030
Centroeste	16,078	-1,017	15,061	Mar. 2035
Sete Lagoas	12,550	-150	12,401	Jun. 2041
Taesa (Cemig stake: 21.68%)	861,718	-35,288	826,430
TOTAL RAP			2,132,045

See more details of Cemig Sim's expansion projects on the next page.

RBSE* COMPENSATION at June 2025 prices (excluding sector charges)
R$ ’000 – by cycle	2025-2026	2026-2027	2027-2028	2028-2029	2029-2033
Economic	112,434	112,434	112,434	35,253	35,253
Financial	298,669	298,669	298,669
Total	411,102	411,102	411,102	35,253	35,253
** The figures for indemnity/reimbursement of National Grid components are included in the RAP of Cemig (first table).

Cemig currently has state environmental (REA) approval for large-scale strengthening and enhancement works, with total capex of R$ 1,088 million, and for investments of R$ 231 million related to Lot 1 of Auction 02/2022 (with completion of works planned for 2028).

Planned operational start date	Capex (R$ ’000)	RAP (R$ ’000)
2025	390,903	62,491
2026	228,929	36,908
2027	442,238	73,472
2028	256,885	23,587
Total	1,318,956	196,458


	37

~~Transmission Regulatory~~§ ~~Revenue~~Expansion ~~and~~of ~~EBITDA~~solar generation

Transmission Regulatory Result - 2Q25
Project	Company	Installed capacity (MWac)	Capacity (MWp)	Expected generation (MWaverage)	Planned operational start date
R$ ’000	Cemig GT	Centroeste	Sete Lagoas	Total
Ouro Solar	Cemig Sim	21.5	30.5	5.9	Nov. 2025 to Jul. 2026
Revenue from Transmission operations	429,656	6,500	2,947	439,103
Bloco Azul	Cemig Sim	15.0	21.3	3.8	Jul. to Dec. 2026
Taxes on revenue	-37,962	-237	-273	-38,472
Solar do Cerrado	Cemig Sim	50.0	70.0	10.5	Nov. 2025 to Nov. 2026
Sector charges	-60,542	-271	-115	-60,928
Total		86.5	121.8	20.1
Net Regulatory Revenue	331,152	5,992	2,559	339,703
Regulatory Profit for the period	266,338	4,744	1,312	272,394
Income tax and Social Contribution tax	-62,794	301	490	-62,003
Net finance income (expenses)	-876	-306	-370	-1,552
Depreciation and amortization	55,769	373	609	56,751
Regulatory EBITDA	258,437	5,112	2,041	265,590

RAP: July 2025 – June 2026 cycle

The values of RAP for the 2025–26 cycle came into force in July 2025, incorporating the effects for Cemig of the remeasurement of the national grid (‘RBSE’) financial component, as defined by Aneel.

ANEEL RATIFYING RESOLUTION (ReH) 3381/2025 (2025–2026 cycle)
R$ ’000	RAP	Adjustment component	Total	Expiration
Cemig	1,245,408	60,207	1,305,615
Cemig GT	1,164,296	62,435	1,226,731	Dec. 2042
Cemig Itajubá	52,484	–1,061	51,423	Oct. 2030
Centroeste	16,078	–1,017	15,061	Mar. 2035
Sete Lagoas	12,550	–150	12,401	Jun. 2041
Taesa (Cemig stake: 21.68%)	861,718	–35,288	826,430
TOTAL RAP			2,132,045

*RBSE (National Grid) compensation (June 2025 prices, excluding sector charges)**
R$ ’000 – by cycle	2025–2026	2026–2027	2027–2028	2028–2029	2029–2033
Economic	112,434	112,434	112,434	35,253	35,253
Financial	298,669	298,669	298,669	–	–
Total	411,102	411,102	411,102	35,253	35,253

* The figures for indemnity/reimbursement of National Grid components are included in the RAP of Cemig (first table).

Cemig currently has state environmental (REA) approval for large-scale Strengthening and Enhancement works, with total capex of R$ 1,088.7 million, and for investments of R$ 231.3 million related to Lot 1 of Auction 02/2022 (with completion of works planned for 2028).

Planned operational start date	Capex (R$ ’000)	RAP (R$ ’000)
2025	390,903	62,491
2026	228,811	36,908
2027	391,092	65,073
2028	309,186	32,233
Total	1,319,992	196,705


	38

Transmission: Regulatory Revenue and Ebitda

Transmission: Revenue and Ebitda – 3Q25
R$ ’000	Cemig GT	Centroeste	Sete Lagoas	Total
Revenue from Transmission operations	457,160	3,950	3,493	464,603
Taxes on revenue	-40,864	-144	-323	-41,331
Sector charges	-88,194	-220	-139	-88,553
Net revenue	328,102	3,586	3,031	334,719

Regulatory Net profit	76,173	1,526	1,726	79,425
Income tax and Social Contribution tax	119,806	168	668	120,642
Net finance income (expenses)	10,977	-4	-482	10,491
Depreciation and amortization	40,500	372	609	41,481
Regulatory Ebitda	247,456	2,062	2,521	252,039

Transmission: Regulatory Revenue and Ebitda – 3Q24
R$ ’000	Cemig GT	Centroeste	Sete Lagoas	Total
Revenue from Transmission operations	441,332	6,320	2,757	450,409
Taxes on revenue	-39,210	-220	-255	-39,685
Sector charges	-87,471	-239	-101	-87,811
Net revenue	314,651	5,861	2,401	322,913

Regulatory Net profit	218,311	4,893	1,264	224,468
Income tax and Social Contribution tax	-32,835	298	292	-32,245
Net finance income (expenses)	-12,957	-315	-167	-13,439
Depreciation and amortization	67,434	355	501	68,290
Regulatory Ebitda	239,953	5,231	1,890	247,074


	39

Complementary information

Cemig D

CEMIG D Market
Quarter	Captive	TUSD ENERGY1	DISTRIBUTED ENERGY	TUSD PICK2
	Consumers
1Q22	5,738	5,397	11,136	36.2
2Q22	6,050	5,853	11,904	36.7
3Q22	5,942	5,790	11,733	34.7
4Q22	6,047	5,755	11,802	40.5
1Q23	5,723	5,566	11,289	38.0
2Q23	5,949	6,058	12,007	38.5
3Q23	5,812	6,028	11,840	39.2
4Q23	6,376	6,068	12,445	39.9
1Q24	5,930	6,097	12,027	40.4
2Q24	5,924	6,301	12,225	42.4
3Q24	5,821	6,557	12,378	43.6
4Q24	5,812	6,505	12,317	42.5
1Q25	5,547	6,448	11,996	45.3
2Q25	5,543	6,283	11,826	45.9
3Q25	5,467	6,368	11,834	45.6

Cemig D	2Q25	1Q25	2Q24	chg. %	chg. %
Operating Revenues (R$ million)				2Q/1Q	2Q/2Q
Revenue from supply of energy	6,090	5,886	5,882	3.5%	3.5%
Reimbursement of PIS/Pasep and Cofins credits to customers	-	-	190	-	-
Revenue from Use of Distribution Systems (the TUSD charge)	1,424	1,440	1,261	-1.1%	12.9%
CVA and Other financial components in tariff adjustment	70	126	-57	-44.4%	-222.8%
Construction revenue	1,232	1,047	1,079	17.7%	14.2%
Adjustment to expectation of cash flow from indemnifiable financial assets of distribution concession (VNR)	27	53	22	-49.1%	22.7%
Others	1,189	594	673	100.2%	76.7%
Subtotal	10,032	9,146	9,050	9.7%	10.9%
Deductions	-2,762	-2,643	-2,723	4.5%	1.4%
Net Revenues	7,270	6,503	6,327	11.8%	14.9%

1. Refers to the quantity of electricity for calculation of the regulatory charges charged to free consumer clients ("Portion A")

392. Sum of the demand on which the TUSD is invoiced, according to demand contracted ("Portion B").

Cemig D	~~2Q25~~3Q25	~~1Q25~~2Q25	~~2Q24~~3Q24	chg. %	chg. %
Operating Expenses (R$ million)				2Q/1Q	2Q/2Q
Operating Revenues (R$ million)				3Q/2Q	3Q/3Q
Personnel	265	233	283	13.7%	-6.4%
Revenue from supply of energy	6,224	6,090	6,021	2.2%	3.4%
Employees' and managers' profit sharing	26	26	29	0.0%	-10.3%
Revenue from Use of Distribution Systems (the TUSD charge)	1,483	1,424	1,344	4.1%	10.3%
Post-retirement obligations	71	65	64	9.2%	10.9%
CVA and Other financial components in tariff adjustment	114	70	357	62.9%	-68.1%
Materials	17	32	26	-46.9%	-34.6%
Construction revenue	1,426	1,232	1,151	15.7%	23.9%
Outsourced services	433	433	425	0.0%	1.9%
Adjustment to expectation of cash flow from indemnifiable financial assets of distribution concession (VNR)	21	27	16	-22.2%	31.3%
Amortization	254	248	224	2.4%	13.4%
Others	1,133	1,189	609	-4.7%	86.0%
Operating provisions	118	163	-380	-27.6%	-131.1%
Subtotal	10,401	10,032	9,498	3.7%	9.5%
Charges for Use of Basic Transmission Network	855	838	850	2.0%	0.6%
Deductions	-3,114	-2,762	-2,740	12.7%	13.6%
Energy purchased for resale	2,917	2,770	2,545	5.3%	14.6%
Net Revenues	7,287	7,270	6,758	0.2%	7.8%
Construction Cost	1,232	1,047	1,079	17.7%	14.2%
Other Expenses	126	77	77	63.6%	63.6%
Total	6,314	5,932	5,222	6.4%	20.9%

Cemig D	2Q25	1Q25	2Q24	Var. %	Var. %
Statement of Results (R$ million)				2Q/1Q	2Q/2Q
Net Revenue	7,270	6,503	6,327	11.8%	14.9%
Operating Expenses	6,314	5,932	5,222	6.4%	20.9%
Operational profit	956	571	1,105	67.4%	-13.5%
EBITDA	1,210	819	1,329	47.7%	-9.0%
Financial Result	-257	-202	306	27.2%	-184.0%
Provision for Income Taxes, Social Cont & Deferred Income Tax	-147	-58	-350	153.4%	-58.0%
Net Income	551	311	1,060	77.2%	-48.0%


	40

Cemig GT

Cemig D	3Q25	2Q25	3Q24	chg. %	chg. %
Operating Expenses (R$ million)				3Q/2Q	3Q/3Q
Personnel	222	265	223	-16.2%	-0.4%
Employees' and managers' profit sharing	25	26	24	-3.8%	4.2%
Post-retirement obligations	66	71	81	-7.0%	-18.5%
Materials	22	17	26	29.4%	-15.4%
Outsourced services	480	433	409	10.9%	17.4%
Amortization	262	254	231	3.1%	13.4%
Operating provisions	165	118	23	39.8%	617.4%
Charges for Use of Basic Transmission Network	866	855	869	1.3%	-0.3%
Energy purchased for resale	3,182	2,917	3,078	9.1%	3.4%
Construction Cost	1,426	1,232	1,151	15.7%	23.9%
Other Expenses	74	126	100	-41.3%	-26.0%
Total	6,790	6,314	6,215	7.5%	9.3%

Cemig GT	2Q25	1Q25	2Q24	chg. %	chg. %
Cemig D	3Q25	2Q25	3Q24	Var. %	Var. %
Operating Revenues (R$ million)				2Q/1Q	2Q/2Q
Statement of Results (R$ million)				3Q/2Q	3Q/3Q
Sales to end consumers	892	870	777	2.5%	14.8%
Net Revenue	7,287	7,270	6,758	0.2%	7.8%
Supply	555	537	409	3.4%	35.7%
Operating Expenses	6,790	6,314	6,215	7.5%	9.3%
Revenues from Trans. Network	134	146	177	-8.2%	-24.3%
Operational profit	497	956	543	-48.0%	-8.5%
Construction revenue	179	66	100	171.2%	79.0%
EBITDA	758	1210	773	-37.4%	-1.9%
Financial remuneration of transmission contractual assets	150	219	136	-31.5%	10.3%
Financial Result	-208	-257	-76	-19.1%	173.7%
Gain on monetary updating of Concession Grant Fee	119	138	107	-13.8%	11.2%
Provision for Income Taxes, Social Cont & Deferred Income Tax	-6	-147	-96	-95.9%	-93.8%
Transactions in the CCEE	2	21	2	-90.5%	0.0%
Net Income	282	551	372	-48.8%	-24.2%
Generation indemnity revenue	31	27	21	14.8%	47.6%
Others	48	60	33	-20.0%	45.5%
Subtotal	2,110	2,084	1,762	1.2%	19.8%
Deductions	-358	-381	-345	-6.0%	3.8%
Net Revenues	1,752	1,703	1,417	2.9%	23.6%

Cemig GT	2Q25	1Q25	2Q24	chg. %	chg. %
Operating Expenses (R$ million)				2Q/1Q	2Q/2Q
Personnel	90	80	99	12.5%	-9.1%
Employees' and managers' profit sharing	10	9	11	11.1%	-9.1%
Post-retirement obligations	22	21	20	4.8%	10.0%
Materials	9	6	6	50.0%	50.0%
Outsourced services	61	58	62	5.2%	-1.6%
Depreciation and Amortization	82	84	84	-2.4%	-2.4%
Provisions	14	18	0	-22.2%	-
Charges for Use of Basic Transmission Network	75	74	73	1.4%	2.7%
Energy purchased for resale	697	586	390	18.9%	78.7%
Construction Cost	139	53	73	162.3%	90.4%
RBSE (national grid) remeasurement	199	0	-	-	-
Other Expenses	0	11	26	-100.0%	-100.0%
Total	1,398	1,000	844	39.8%	65.6%


	41

Cemig GT	2Q25	1Q25	2Q24	chg. %	chg. %
Statement of Results (R$ million)				2Q/1Q	2Q/2Q
Net Revenue	1,752	1,703	1,417	2.9%	23.6%
Operating Expenses	1,398	1,000	844	39.8%	65.6%
Operational profit	354	703	573	-49.6%	-38.2%
Equity gain in subsidiaries	-33	-38	-16	-13.2%	106.3%
EBITDA	404	749	641	-46.1%	-37.0%
Financial Result	2	-16	-190	-112.5%	-101.1%
Provision for Income Taxes, Social Cont & Deferred Income Tax	18	-108	-40	0.0%	-145.0%
Net Income	342	541	328	-36.8%	4.3%

Cemig GT

Cemig, Consolidated

Cemig GT- Operating Expenses	3Q25	2T25	3Q24	chg. %	chg. %
(R$ million)				3Q/2Q	3Q/3Q
Personnel	85	90	78	-5.6%	9.0%
Employees' and managers' profit sharing	11	10	9	10.0%	22.2%
Post-retirement obligations	23	22	25	4.5%	-8.0%
Materials	9	9	7	0.0%	28.6%
Outsourced services	72	61	63	18.0%	14.3%
Depreciation and Amortization	82	82	84	0.0%	-2.4%
Provisions	-66	14	9	-571.4%	-833.3%
Charges for Use of Basic Transmission Network	79	75	73	5.3%	8.2%
Energy purchased for resale	911	697	587	30.7%	55.2%
Construction Cost	95	139	74	-31.7%	28.4%
RBSE (national grid) remeasurement	-	199	-	-	-
Other Expenses	12	0	-23	-	-152.2%
Total	1,313	1,398	986	-6.1%	33.2%
Ganho na alienação de investimentos	-	-	1,617	-	-
Revisão Tarifária Periódica	-	-	1,521	-	-
Total outras receitas (redutor da despesa)	0	0	-3,138	0.0%	0.0%
Total geral	1,313	1,398	-2,152	-6.1%	-161.0%

Energy Sales	2Q25	1Q25	2Q24	chg. %	chg. %
Cemig GT - Statement of Results	3Q25	2T25	3Q24	chg. %	chg. %
(in GWh)				2Q/1Q	2Q/2Q
(R$ million)				3Q/2Q	3Q/3Q
Residential	3,668	3,838	3,553	-4.4%	3.2%
Net Revenue	1,797	1,752	1,593	2.6%	12.8%
Industrial	4,677	4,311	4,440	8.5%	5.3%
Operating Expenses	1,313	1,398	-2,152	-6.1%	-161.0%
Commercial	3,141	3,063	3,009	2.5%	4.4%
Operational profit	484	354	3,745	36.7%	-87.1%
Rural	984	739	928	33.2%	6.0%
Equity gain in subsidiaries	-36	-33	-30	9.1%	20.0%
Others	679	795	749	-14.6%	-9.3%
EBITDA	530	404	3,798	31.2%	-86.0%
Subtotal	13,149	12,746	12,679	3.2%	3.7%
Financial Result	-28	2	37	-1500.0%	-175.7%
Own Consumption	6	7	8	-14.3%	-25.0%
Provision for Income Taxes, Social Cont & Deferred Income Tax	-34	18	-1,121	-288.9%	-97.0%
Wholesale supply	5,043	4,826	3,953	4.5%	27.6%
Net Income	387	342	2,629	13.2%	-85.3%
TOTAL	18,198	17,579	16,640	3.5%	9.4%

Revenue from supply of electricity	2Q25	1Q25	2Q24	chg. %	chg. %
(R$ million)				2Q/1Q	2Q/2Q
Residential	3,374	3,423	3,067	-1.4%	10.0%
Industrial	1,278	1,204	1,327	6.1%	-3.7%
Commercial	1,650	1,647	1,610	0.2%	2.5%
Rural	643	517	600	24.4%	7.2%
Others	516	506	538	2.0%	-4.1%
Subtotal	7,461	7,297	7,142	2.2%	4.5%
Retail supply not yet invoiced	78	-32	68	-	14.7%
Wholesale supply	1,147	1109	934	3.4%	22.8%
TOTAL	8,686	8,374	8,144	3.7%	6.7%


	42

Cemig	2Q25	1Q25	2Q24	chg. %	chg. %
Operating Revenues (R$ million)				2Q/1Q	2Q/2Q
Sales to end consumers	7,539	7,265	7,210	3.8%	4.6%
Wholesale supply	1,148	1,110	934	3.4%	22.9%
TUSD	1,414	1,429	1,252	-1.0%	12.9%
CVA and Other financial components in tariff adjustment	70	126	-57	-	-222.8%
Reimbursement of PIS/Pasep and Cofins over ICMS credits to customers	-	0	190	0.0%	-100.0%
Transmission revenue	114	60	80	90.0%	42.5%
Financial remuneration of transmission contract	30	173	134	-82.7%	-77.6%
Transactions in the CCEE	40	22	14	81.8%	185.7%
Gas supply	965	921	972	4.8%	-0.7%
Construction revenue	1,503	1,215	1,259	23.7%	19.4%
Others	1,454	894	876	62.6%	66.0%
Subtotal	14,277	13,215	12,864	8.0%	11.0%
Taxes and charges deductions from revenue	-3,491	-3,371	-3,428	3.6%	1.8%
Net Revenues	10,786	9,844	9,436	9.6%	14.3%

Cemig, Consolidated

Cemig	2Q25	1Q25	2Q24	chg. %	chg. %
Energy Sales	3Q25	2T25	3Q24	chg. %	chg. %
Operating Expenses (R$ million)				2Q/1Q	2Q/2Q
(in GWh)				3Q/2Q	3Q/3Q
Personnel	388	346	417	12.1%	-7.0%
Residential	3,658	3,668	3,450	-0.3%	6.3%
Employees’ and managers’ profit sharing	46	43	43	7.0%	7.0%
Industrial	4,858	4,677	4,581	3.9%	2.1%
Post-Retirement Employee Benefits	109	102	98	6.9%	11.2%
Commercial	2,951	3,141	2,848	-6.0%	10.3%
Materials	27	39	34	-30.8%	-20.6%
Rural	1,085	984	1,117	10.3%	-11.9%
Outsourced services	527	515	508	2.3%	3.7%
Others	681	679	709	0.3%	-4.2%
Energy purchased for resale	4,547	4,267	3,693	6.6%	23.1%
Subtotal	13,233	13,149	12,705	0.6%	3.5%
Charges for use of the national grid	777	767	817	1.3%	-4.9%
Own Consumption	6	6	7	0.0%	-14.3%
Gas bought for resale	485	489	509	-0.8%	-4.7%
Wholesale supply	5,235	5,043	4,200	3.8%	20.1%
Depreciation and Amortization	368	364	338	1.1%	8.9%
TOTAL	18,474	18,198	16,912	1.5%	7.6%
Provisions	147	197	-348	-25.4%	-142.2%
Construction costs	1,463	1,202	1,227	21.7%	19.2%
RBSE (national grid) remeasurement	199	-	0
Other Expenses	140	92	106	52.2%	32.1%
Total	9,223	8,423	7,442	9.5%	23.9%

Revenue from supply of electricity	3Q25	2Q25	3Q24	chg. %	chg. %
(R$ million)				3Q/2Q	3Q/3Q
Residential	3,554	3,374	3,124	5.3%	13.8%
Industrial	1,339	1,278	1,379	4.8%	-2.9%
Commercial	1,668	1,650	1,577	1.1%	5.8%
Rural	768	643	735	19.4%	4.5%
Others	542	516	544	5.0%	-0.4%
Subtotal	7,871	7,461	7,359	5.5%	7.0%
Retail supply not yet invoiced	-113	78	-46	-244.9%	145.7%
Wholesale supply	1,319	1,147	1,243	15.0%	6.1%
TOTAL	9,077	8,686	8,556	4.5%	6.1%

Cemig - Operating Revenues	3Q25	2Q25	3Q24	chg. %	chg. %
(R$ million)				3Q/2Q	3Q/3Q
Sales to end consumers	7,758	7,539	7,313	2.9%	6.1%
Wholesale supply	1,321	1,148	1,243	15.1%	6.3%
TUSD	1,451	1,414	1,338	2.6%	8.4%
CVA and Other financial components in tariff adjustment	114	70	357	62.9%	-68.1%
Transmission revenue	96	114	145	-15.8%	-33.8%
Financial remuneration of transmission contract	61	30	40	103.3%	52.5%
Transactions in the CCEE	36	40	27	-10.0%	33.3%
Gas supply	614	965	1,038	-36.4%	-40.8%
Construction revenue	1,639	1,503	1,375	9.0%	19.2%
Others	1,357	1,454	764	-6.7%	77.6%
Subtotal	14,447	14,277	13,640	1.2%	5.9%
Taxes and charges deductions from revenue	-3,827	-3,491	-3,491	9.6%	9.6%
Net Revenues	10,620	10,786	10,149	-1.5%	4.6%


	43

Cemig	2Q25	1Q25	2Q24	chg. %	chg. %
Cemig - Operating Expenses	3Q25	2Q25	3Q24	chg. %	chg. %
Finance Income and Expenses (R$ million)				2Q/1Q	2Q/2Q
(R$ million)				3Q/2Q	3Q/3Q
FINANCE INCOME
Personnel	337	388	326	-13.1%	3.4%
Income from cash investments	202	84	117	140.5%	72.6%
Employees’ and managers’ profit sharing	48	46	41	4.3%	17.1%
Arrears fees on sale of energy	81	74	74	9.5%	9.5%
Post-Retirement Employee Benefits	105	109	122	-3.7%	-13.9%
Monetary variations	12	12	8	0.0%	50.0%
Materials	32	27	35	18.5%	-8.6%
Monetary variations – CVA	13	18	0	-27.8%	0.0%
Outsourced services	584	527	497	10.8%	17.5%
Monetary updating on Court escrow deposits	20	21	15	-4.8%	33.3%
Energy purchased for resale	5,163	4,547	4,567	13.5%	13.1%
Pasep and Cofins charged on finance income	-72	-53	-49	35.8%	46.9%
Charges for use of the national grid	766	777	805	-1.4%	-4.8%
Gains on financial instruments - Swap	0	0	70	0.0%	-100.0%
Gas bought for resale	241	485	544	-50.3%	-55.7%
Monetary updating on PIS/Pasep and Cofins taxes credits	4	0	406	0.0%	-99.0%
Depreciation and Amortization	378	368	346	2.7%	9.2%
Others	42	38	84	10.5%	-50.0%
Provisions	186	147	-14	26.5%	-1428.6%
	302	194	725	55.7%	-58.3%
Construction costs	1,602	1,463	1,336	9.5%	19.9%
FINANCE EXPENSES
RBSE (national grid) remeasurement	-	199.00	-	-	-
Costs of loans and financings	383	260	241	47.3%	58.9%
Other Expenses	96	140	145	-31.4%	-33.8%
Foreign exchange variations	-	0	214	0.0%	-100.0%
Total	9,538	9,223	8,750	3.4%	9.0%
Monetary updating – loans and financings	62	125	53	-50.4%	17.0%
Gain on disposal of Investments (Aliança)	-	-	-1,617	-	-
Foreign exchange variations - Itaipu Binacional	-	0	9	0.0%	-100.0%
Gain on purchase	-	-	-14	-	-
Monetary updating on PIS/Pasep and Cofins taxes credits	-	13	-	0.0%	0.0%
Result of the Transmission Periodic Tariff Review	-	-	-1,521	-	-
Estimated update of distributed generation credits	75	0	38	0.0%	97.4%
Total outras receitas (redutor da despesa)	-	-	-3,152	-	-
Others	45	46	52	-2.2%	-13.5%
Total geral	9,538	9,223	5,598	3,4%	70,4%
	565	444	607	27.3%	-6.9%
NET FINANCE INCOME (EXPENSES)	-263	-250	118	5.2%	-322.9%

Cemig	2Q25	1Q25	2Q24	chg. %	chg. %
Statement of Results (R$ million)				2Q/1Q	2Q/2Q
Net Revenue	10,786	9,844	9,436	9.6%	14.3%
Operating Expenses	9,223	8,423	7,442	9.5%	23.9%
Operational profit	1,563	1,421	1,994	10.0%	-21.6%
Equity gain (loss) in subsidiaries	77	42	39	83.3%	97.4%
EBITDA	2,009	1,827	2,371	10.0%	-15.3%
Financial Result	-263	-250	118	5.2%	-322.9%
Provision for Income Taxes, Social Cont & Deferred Income Tax	-190	-175	-462	8.6%	-58.9%
Net profit for the period	1,188	1,039	1,689	14.3%	-29.7%


	44

Cemig
Cemig - Finance Income and Expenses	3Q25	2Q25	3Q24	chg. %	chg. %
Recurring profit: reconciliation (R$ million)	2Q25	2Q24
(R$ million)				3Q/2Q	3Q/3Q
Net profit – IFRS	1,188	1,689
FINANCE INCOME
Remeasurement of post-employment liabilities	-14	-
Income from cash investments	101	202	105	-50.0%	-3.8%
RBSE (national grid) remeasurement	131	-
Arrears fees on sale of energy	77	81	72	-4.9%	6.9%
Voluntary retirement program	17	52
Monetary variations	7	12	5	-41.7%	40.0%
Reversal of tax provision – Social security contributions on profit sharing	-	-386
Monetary variations – CVA	39	13	5	200.0%	680.0%
PIS/Cofins taxes repayable to consumers – Reversal	-	-271
Monetary updating on Court escrow deposits	24	20	18	20.0%	33.3%
Civil action provision – Power purchase agreement	-	35
Pasep and Cofins charged on finance income	-65	-72	-49	-9.7%	32.7%
Legal action on the PAT (Workers’ Food Program)	-	-80
Gains on financial instruments - Swap	0	0	13	0.0%	-100.0%
FX exposure – Eurobond hedge	-	95
Monetary updating on PIS/Pasep and Cofins taxes credits	31	4	5	675.0%	520.0%
Recurring net profit	1,322	1,134
Others	43	42	89	2.4%	-51.7%
	257	302	263	-14.9%	-2.3%
FINANCE EXPENSES
Costs of loans and financings	423	383	237	10.4%	78.5%
Foreign exchange variations	7	0	5	-	40.0%
Monetary updating – loans and financings	46	62	40	-25.8%	15.0%
Foreign exchange variations - Itaipu Binacional	-	0	9	-	-
Monetary updating on PIS/Pasep and Cofins taxes credits	24	0	-	-	-
Estimated update of distributed generation credits	12	75	8	-84.0%	50.0%
Others	21	45	25	-53.3%	-16.0%
	533	565	324	-5.7%	64.5%
NET FINANCE INCOME (EXPENSES)	-276	-263	-61	4.9%	352.5%

Cash Flow Statement	jun/25	jun/24
Cemig - Statement of Results	3Q25	2Q25	3Q24	chg. %	chg. %
(R$ million)				3Q/2Q	3Q/3Q
Cash at beginning of period	1,898	1,537
Net Revenue	10,620	10,786	10,149	-1.5%	4.6%
Cash generated by operations	2,346	2,921
Operating Expenses	9,538	9,223	5,599	3.4%	70.4%
Net income	2,227	2,841
Operational profit	1,082	1,563	4,550	-30.8%	-76.2%
Depreciation and amortization	732	667
Equity gain (loss) in subsidiaries	41	77	62	-46.8%	-33.9%
CVA and other financial components	-197	-19
EBITDA	1,501	2,009	4,958	-25.3%	-69.7%
Equity gain (loss) in subsidiaries	-120	-129
Financial Result	-276	-263	-62	4.9%	345.2%
Remeasuring of concession financial and concession contract assets	-652	-685
Provision for Income Taxes, Social Cont & Deferred Income Tax	-50	-190	-1270	-73.7%	-96.1%
Interest and monetary variations	622	418
Net profit for the period	797	1,188	3,280	-32.9%	-75.7%
Provisions	306	-174
Deferred income and social contribution taxes	365	811
Refund of PIS/Pasep and Cofins credits to consumers	-178	-513
Gain on disposal of investments	0	-43
Dividends receivable	108	213
Interest paid on loans and financings	-526	-442
Net gain on derivative instruments at fair value through profit or loss	-	-112
Foreign exchange variations on loans	-	273
Post-employment obligations	212	244
Others	-553	-429
Investment activity	-3,267	-2,790
Securities - Financial Investment	-746	-620
Reduction of share capital in investee	-	48
Disposal of assets	-	101
Fixed and Intangible assets/distribution and gas infrastructure	-2,521	-2,319
Financing activities	780	-104
Lease payments	-40	-36
Proceeds from Loans, financings and debentures	4,965	1,946
Interest on Equity, and dividends	-1,776	-1,438
Payments of loans and debentures	-2,369	-576
Cash at end of period	1,758	1,564


	45

Cemig - Balance Sheets (Assets)	jun/25	2024
Cemig - Recurring profit: reconciliation
(R$ million)	3Q25	3Q24
CURRENT
Net profit – IFRS	797	3,280
Cash and cash equivalents	1,758	1,898
Remeasurement of post-employment liabilities	-15	-
Marketable securities	1,221	358
Voluntary retirement program	-2	-
Customers, traders, concession holders and Transport of energy	5,652	5,596
Gain on disposal of Investments (Aliança)	-	-1,083
Concession financial assets	1,232	1,190
Reversal of provision with related party (Aliança)	-	-38
Concession contract assets	1,110	1,140
Result of the Transmission Periodic Tariff Review	-	-1,004
Tax offsetable	551	511
FX exposure – Eurobond hedge	-	-37
Income tax and Social Contribution tax recoverable	153	7
Recurring net profit	780	1,118
Dividends receivable	63	111
Public lighting contribution	327	296
Escrow deposits	45	235
Reimbursement of tariff subsidies	623	209
Other credits	820	625
Assets classified as held for sale	57	57
TOTAL CURRENT	13,612	12,233
NON-CURRENT
Securities	56	135
Consumers and traders	277	254
Tax offsetable	1,507	1,455
Income tax and Social Contribution tax recoverable	512	582
Deferred income tax and Social Contribution tax	2,348	2,334
Escrow deposits in legal actions	1,207	1,196
Reimbursement of tariff subsidies	16	-
Accounts receivable from the State of Minas Gerais	35	40
Financial assets of the concession	7,642	6,881
Contractual assets	11,244	10,327
Investments	3,275	3,221
Property, plant and equipment	3,910	3,715
Intangible assets	17,247	16,806
Leasing – rights of use	381	387
Other credits	142	161
TOTAL NON-CURRENT	49,799	47,494
TOTAL ASSETS	63,411	59,727


	46

Cemig - Balance Sheets (Liabilities and Shareholders' Equity)	jun/25	2024
Cash Flow Statement	sep/25	sep/24
(R$ million)
CURRENT
Cash at beginning of period	1,898	1,537
Suppliers	3,080	2,952
Cash generated by operations	3,424	4,637
Regulatory charges	463	344
Net income	3,024	6,122
Profit sharing	93	111
Depreciation and amortization	1,110	1,012
Taxes	749	725
CVA and other financial components	-311	-376
Income tax and Social Contribution tax	159	163
Equity gain (loss) in subsidiaries	-160	-191
Interest on Equity, and dividends, payable	2,866	3,611
Remeasuring of concession financial and concession contract assets	-897	-782
Loans and debentures	2,747	2,877
Interest and monetary variations	872	205
Payroll and related charges	256	217
Provisions	467	-139
Public Lighting Contribution	497	475
Deferred income and social contribution taxes	415	2,082
Post-retirement liabilities	218	233
Refund of PIS/Pasep and Cofins credits to consumers	-209	-513
Accounts payable related to energy generated by consumers	1,641	1,251
Gain on disposal of investments	0	-1,617
Taxes to be reimbursed to customers	372	526
Dividends receivable	165	291
Leasing operations	86	79
Interest paid on loans and financings	-992	-558
Other obligations	446	582
Net gain on derivative instruments at fair value through profit or loss	3.00	-125
TOTAL CURRENT	13,673	14,146
Foreign exchange variations on loans	(6.00)	231
NON-CURRENT
Post-employment obligations	317	366
Regulatory charges	128	172
Others	-374	-1,371
Loans and debentures	12,517	9,403
Investment activity	-4,754	-3,200
Taxes	488	496
Securities - Financial Investment	-334	-2,288
Income tax and Social Contribution tax	1,422	1,543
Reduction of share capital in investee	-	48
Provisions	1,960	1,853
Disposal of fixed assets	-	101
Post-retirement liabilities	4,118	4,073
Disposal of assets	-	2,737
Taxes to be reimbursed to customers	159	166
Fixed and Intangible assets/distribution and gas infrastructure	-4,420	-3,798
Leasing operations	340	350
Financing activities	884	686
Other obligations	127	142
Lease payments	-61	-54
TOTAL NON-CURRENT	21,259	18,198
Proceeds from Loans, financings and debentures	5,184	4,383
TOTAL LIABILITIES	34,932	32,344
Interest on Equity, and dividends	-1,775	-2,977
TOTAL EQUITY
Payments of loans and debentures	-2,464	-666
Share capital	14,309	14,309
Cash at end of period	1,452	3,661
Capital reserves	393	393
Profit reserves	13,576	13,576
Equity valuation adjustments	-899	-900
Retained earnings	1,094	-
NON-CONTROLLING INTERESTS	28,473	27,378
Non-Controlling Interests	6	5
TOTAL EQUITY	28,479	27,383
TOTAL LIABILITIES AND EQUITY	63,411	59,727


	47

Cemig - Balance Sheets (Assets)	set/25	2024
(R$ million)
CURRENT
Cash and cash equivalents	1,452	1,898
Marketable securities	865	358
Customers, traders, concession holders and Transport of energy	5,570	5,596
Concession financial assets	1,354	1,190
Concession contract assets	1,124	1,140
Tax offsetable	558	511
Income tax and Social Contribution tax recoverable	238	7
Dividends receivable	82	111
Public lighting contribution	340	296
Escrow deposits	48	235
Reimbursement of tariff subsidies	618	209
Other credits	934	625
Assets classified as held for sale	64	57
TOTAL CURRENT	13,247	12,233
NON-CURRENT
Securities	-	135
Consumers and traders	291	254
Tax offsetable	1,516	1,455
Income tax and Social Contribution tax recoverable	548	582
Deferred income tax and Social Contribution tax	2,396	2,334
Escrow deposits in legal actions	1,289	1,196
Reimbursement of tariff subsidies	88	-
Accounts receivable from the State of Minas Gerais	32	40
Financial assets of the concession	8,048	6,881
Contractual assets	11,496	10,327
Investments	3,234	3,221
Property, plant and equipment	4,018	3,715
Intangible assets	18,020	16,806
Leasing – rights of use	378	387
Other credits	149	161
TOTAL NON-CURRENT	51,503	47,494

TOTAL ASSETS	64,750	59,727


	48

Cemig - Balance Sheets (Liabilities and Shareholders' Equity)	set/25	2024
(R$ million)
CURRENT
Suppliers	3,298	2,952
Regulatory charges	493	344
Profit sharing	131	111
Taxes	734	725
Income tax and Social Contribution tax	192	163
Interest on Equity, and dividends, payable	3,413	3,611
Loans and debentures	2,982	2,877
Payroll and related charges	265	217
Public Lighting Contribution	540	475
Post-retirement liabilities	212	233
Accounts payable related to energy generated by consumers	1,739	1,251
Financial liability of the concession	0	16
Taxes to be reimbursed to customers	341	526
Leasing operations	88	79
Other obligations	456	582
TOTAL CURRENT	14,884	14,146

NON-CURRENT
Regulatory charges	143	172
Loans and debentures	12,429	9,403
Taxes	485	496
Income tax and Social Contribution tax	1,415	1,543
Provisions	2,001	1,853
Post-retirement liabilities	4,037	4,073
Taxes to be reimbursed to customers	155	166
Leasing operations	337	350
Other obligations	130	142
TOTAL NON-CURRENT	21,132	18,198
TOTAL LIABILITIES	36,016	32,344

TOTAL EQUITY
Share capital	14,309	14,309
Capital reserves	393	393
Profit reserves	13,576	13,576
Equity valuation adjustments	-839	- 900
Retained earnings	1,289	-
NON-CONTROLLING INTERESTS	28,728	27,378
Non-Controlling Interests	6	5
TOTAL EQUITY	28,734	27,383
TOTAL LIABILITIES AND EQUITY	64,750	59,727


	49

Disclaimer

Certain statements and estimates in this material may represent expectations about future events or results which are subject to risks and uncertainties that may be known or unknown. There is no guarantee that events or results will occur as referred to in these expectations.

These expectations are based on present assumptions and analyses from the point of view of our management, in accordance with their experience and other factors such as the macroeconomic environment, market conditions in the electricity sector, and expected future results, many of which are not under our control.

Important factors that could lead to significant differences between actual results and the projections about future events or results include: Cemig’s business strategy, Brazilian and international economic conditions, technology, our financial strategy, changes in the electricity sector, hydrological conditions, conditions in the financial and energy markets, uncertainty on our results from future operations, plans and objectives; and other factors. Due to these and other factors, our results may differ significantly from those indicated in or implied by such statements.

The information and opinions herein should not be understood as a recommendation to potential investors, and no investment decision should be based on the veracity, currentness or completeness of this information or these opinions. None of our staff nor any party related to any of them or their representatives shall have any responsibility for any losses that may arise as a result of use of the content of this material.

To evaluate the risks and uncertainties as they relate to Cemig, and to obtain additional information about factors that could give rise to different results from those estimated by Cemig, please consult the section on Risk Factors included in the Reference Form filed with the Brazilian Securities Commission (CVM), and in the 20-F Form filed with the US Securities and Exchange Commission (SEC).

Financial amounts are in R$ million (R$ mn) unless otherwise stated.

Financial data reflect the adoption of IFRS.

~~4. Notice to Shareholders dated September 23, 2025 – Declaration of Interest on Equity~~50

Notice to the Market dated November 18, 2025 – Liquidation of the 11th Issue Debentures of Cemig GT

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

~~NOTICE~~CEMIG TOGERAÇÃO ~~SHAREHOLDERS~~E TRANSMISSÃO S.A.

~~Declaration~~PUBLICLY-HELD ~~of Interest on Equity~~COMPANY

WeCORPORATE ~~hereby~~TAXPAYER’S ~~inform~~ID ~~our~~(CNPJ): ~~shareholders that the Executive Board~~06.981.176/0001-58 ~~approved~~COMPANY ~~the~~REGISTRY ~~declaration of Interest on Equity - IoE. Detailed information about the payment is as follows~~(NIRE): 31300020550

~~1. Gross~~NOTICE ~~amount:~~TO ~~R$604,737,000.00~~THE MARKET ~~(six~~Liquidation ~~hundred~~of ~~and~~the ~~four~~11th ~~million,~~Issue ~~seven~~Debentures ~~hundred~~of ~~and~~Cemig ~~thirty-seven thousand reais)~~GT

~~2. Gross~~COMPANHIA ~~amount~~ENERGÉTICA ~~per~~DE ~~share:~~MINAS ~~R$0.21139610230~~GERAIS ~~per~~– ~~share~~CEMIG (“Cemig”), toa becategory ~~paid~~“A” publicly-held company with shares traded on the ~~mandatory~~stock ~~minimum~~exchanges of ~~dividend~~São ~~for~~Paulo and New York, hereby informs its shareholders and the market in general that, on November 18, 2025, ~~with~~CEMIG GERAÇÃO E TRANSMISSÃO S.A. (“Cemig GT”), a ~~15%~~publicly-held ~~withholding~~company ~~income~~and ~~tax~~wholly owned subsidiary of Cemig, ~~excluding~~concluded the ~~shareholders~~financial ~~exempt~~liquidation ~~from~~of the 11th (eleventh) issue of simple, unsecured debentures, not convertible into shares, with an ~~said~~additional ~~withholding~~personal guarantee, in two series (“Issue”), for public distribution under the ~~law~~automatic inregistration ~~force;~~procedure with the Brazilian Securities and Exchange Commission (“CVM”), which are guaranteed by Cemig (“Debentures”).

~~3. Date~~A ~~“with~~total ~~rights”: common~~of ~~and~~1,500,000 ~~preferred~~(one ~~shareholders~~million offive ~~record~~hundred thousand) onDebentures ~~September~~were 29issued, ~~2025~~totaling ~~will~~R$1,500,000,000.00 be(one ~~entitled~~billion tofive ~~the~~hundred ~~payment;~~million reais), subscribed as follows:

4. Date “ex-rights”: September 30, 2025;

Series	Quantity	Value	Rate	Term	Amortization
1^st	1,000,000	R$1,000,000,000.00	IPCA + 6.7878% p.a.	4,383 days	120^th, 132^nd, and 144^th months
2^nd	500,000	R$500,000,000.00	IPCA + 6.6504% p.a.	5,479 days	156^th, 168^th, and 180^th months

~~5. Payment~~The ~~date:~~proceeds ~~2 (two)~~obtained ~~equal~~by ~~installments,~~Cemig ~~the~~GT ~~first~~from the Issue of ~~which~~Debentures towill be ~~paid~~allocated byexclusively ~~June~~to ~~30,~~the ~~2026~~reimbursement of expenses, expenditures and/or debts related to the ~~second~~implementation of bya ~~December~~project 30classified as priority, ~~2026;~~pursuant to Law 12,431, of June 24, 2011, as amended.

~~Shareholders~~Finally, ~~whose~~we ~~shares~~hereby ~~are~~inform ~~not~~that ~~held~~the ~~in custody at CBLC~~credit ~~and~~rating ~~whose~~agency ~~registration~~Moody’s ~~data~~attributed isan ~~outdated are advised to go to a branch of Banco Itaú Unibanco S~~‘AAA.~~A. (the institution managing CEMIG~~br’~~s Registered~~ ~~Share~~rating ~~System)~~to ~~bearing their personal documents for~~ the ~~due update of their registration data~~Issue.

~~Belo~~This ~~Horizonte~~notice is for information purposes only, under ~~September~~the 23terms of the legislation in force, ~~2025~~and should not be interpreted as a selling material, or an offer, invitation, or request for the acquisition of the Debentures.

~~Cristiana~~Belo ~~Maria~~Horizonte, ~~Fortini~~November ~~Pinto~~18, ~~e Silva~~2025.

~~Acting~~Andrea ~~Vice~~Marques ~~President~~de ~~of Finance and Investor Relations~~Almeida

5.Vice ~~Notice~~President ~~to the Market dated October 16, 2025 – Conclusion~~ of ~~the~~Finance ~~Onerous~~and ~~Transfer~~Investor ~~of Four Small Power Plants~~Relations

Material Fact dated December 3, 2025 - Collective Bargaining Agreement Regarding Health Plans

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

MATERIAL FACT

Collective Bargaining Agreement Regarding Health Plans

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG” or “Company”), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, under CVM Resolution 44/2021, hereby informs its shareholders and the market in general, further to the Material Facts disclosed on September 19, 2025, September 12, 2025, and February 20, 2025, that an agreement entered into with employee representative entities was approved on this date by the Regional Labor Court of the 3^rdRegion, in connection with the collective bargaining agreement no. 0011731-13.2025.5.03.0000. The agreement was signed with the Intermunicipal Union of Workers in the Energy Industry of Minas Gerais (SINDIELETRO); the Union of Engineers of the State of Minas Gerais (SENGE); the Union of Industrial Technicians of Minas Gerais (SINTEC); the Union of Utility Workers of Juiz de Fora, and the retired employees of the Association of Retired Employees and Pensioners of Cemig and its Subsidiaries (AEA).

This agreement, together with the previous one already approved with other labor unions, as disclosed in the Material Fact of September 19, 2025, establishes a buyout payment for compensatory indemnity in a maximum total amount of R$1,250,000,000.00 (one billion, two hundred and fifty million reais), to be paid on a pro rata basis in 6 (six) installments, with the final installment due in 2030. This amount considers a total of 15,496 (fifteen thousand, four hundred and ninety-six) retired employees and pensioners, all of whom were active and enrolled in the CEMIG Saúde PSI health plan in February 2025.

Together, the two agreements enable the transition of the 15,496 (fifteen thousand, four hundred and ninety-six) participants to new health plans, with the termination of Cemig’s sponsorship of the PSI health plan as of December 31, 2025.

The agreement has a resolutive nature and applies to those represented by or affiliated with the signatory entities.

CEMIG reaffirms its commitment to keeping shareholders and the market in general informed about this matter, under CVM regulations and applicable legislation.

Belo Horizonte, December 03, 2025.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

Notice to the Market dated December 5, 2025 - Injunction granted in Public Civil Action against Auction of four small power plants

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

CEMIG GERAÇÃO E TRANSMISSÃO S.A.

PUBLICLY-HELD COMPANY

CORPORATE TAXPAYER’S ID (CNPJ): 06.981.176/0001-58

COMPANY REGISTRY (NIRE): 31300020550

Notice to the Market

Injunction granted in Public Civil Action against Auction of four small power plants

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG”), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, and CEMIG GERAÇÃO E TRANSMISSÃO S.A. (“CEMIG GT”), a publicly-held company and the wholly-owned subsidiary of CEMIG, hereby inform its shareholders and the market in general, further to the Notices to the Market disclosed on May 23, 2025, May 20, 2025, March 24, 2025, February 21, 2025, and January 10, 2025, that the Court of the 1^st Public Treasury and Government Agencies Court of the District of Belo Horizonte has granted an injunction in a public civil action filed by the Federação dos Trabalhadores nas Indústrias Urbanas no Estado de Minas Gerais to suspend the processing of the divestment procedure arising from the public Auction for the sale of the rights to operate four small-scale power generation plants.

The decision covers the agreement resulting from the Auction held on December 05, 2024, for the divestment of the Machado Mineiro, Sinceridade, Martins, and Marmelos power plants, which are not part of the Company’s Strategic Plan. CEMIG will file an appeal and pursue all legal remedies at the appropriate judicial levels.

CEMIG and CEMIG GT reaffirm their commitment to keeping shareholders, the market in general, and other stakeholders duly and timely informed of any developments on this matter, under CVM regulations and legislation in force.

Belo Horizonte, December 05, 2025.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

Notice to the Market dated December 8, 2025 - Suspension of injunction in Public Civil Action against Auction of four small power plants

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

CEMIG GERAÇÃO E TRANSMISSÃO S.A.

PUBLICLY-HELD COMPANY

CORPORATE TAXPAYER’S ID (CNPJ): 06.981.176/0001-58

COMPANY REGISTRY (NIRE): 31300020550

Notice to the Market

Suspension of injunction in Public Civil Action against Auction of four small power plants

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG”), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, and CEMIG GERAÇÃO E TRANSMISSÃO S.A. (“CEMIG GT”), a publicly-held company and the wholly-owned subsidiary of CEMIG, hereby inform its shareholders and the market in general, further to the Notices to the Market disclosed on December 05, 2025, May 23, 2025, May 20, 2025, March 24, 2025, February 21, 2025, and January 10, 2025, that the Court of Justice of the State of Minas Gerais has suspended, until the final judgment on the merits, the injunction granted in the records of Public Civil Action No. 1002307-24.2025.8.13.0024 against the public Auction for the sale of the rights to operate four small-scale power generation plants.

Thus, the decision restores the effects of the agreement resulting from the Auction held on December 05, 2024, for the divestment of the Machado Mineiro, Sinceridade, Martins, and Marmelos power plants, which are not part of the Company’s Strategic Plan, enabling the continuation of the divestment process.

Belo Horizonte, December 08, 2025.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

Material Fact dated December 12, 2025 - CEMIG announces R$44 billion investment plan for 2026-2030

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

MATERIAL FACT

CEMIG announces R$44 billion investment plan for 2026-2030

The “Focus on Minas and Win” Strategic Plan, implemented since 2019, has promoted a profound operational and strategic transformation at the Company, driving significant efficiency gains, portfolio realignment through divestments of non-core assets, and the prioritization of investments in Minas Gerais.

The corporate strategy is structured around pillars that guide its long-term priorities: health and safety, efficiency and operational efficiency aligned with the evolution of the customer experience, modernization and resilience of power grids, expansion in centralized generation and distributed generation, modernization of power plants, preparation for the full opening of the energy market, and leadership in the energy transition, supported by digitalization, innovation, and new technologies.

The planned investments are expected to capture structural opportunities in the sector, ensure greater reliability of the power system, and accelerate the energy transition, sustaining long-term value creation for shareholders and society, through a results-oriented management approach grounded in sustainability.

For 2026, the plan provides for investments of approximately R$6.7 billion, allocated as follows:

Description^¹	2026 (R$ million)
Distribution	5,269
Generation	197
Transmission	632
Distributed Generation	375
Natural Gas	227
Other	25
Total	6,725

¹ Includes investments in IT and Innovation

The investments presented reflect estimates based on the Company’s strategic plans for its businesses. The first year is already included in the approved budget. The remaining years may be subject to changes due to various factors and market conditions, and the final amounts will depend on approval by the Board of Directors.

Belo Horizonte, December 12, 2025.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

10.

Material Fact dated December 12, 2025 - Single agreement in collective bargaining agreements on health plan

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

MATERIAL FACT

Single agreement in collective bargaining agreements on health plan

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG” or “Company”), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, under CVM Resolution 44/2021, hereby informs its shareholders and the market in general, further to the Material Facts disclosed on December 03, 2025, September 19, 2025, September 12, 2025, and February 20, 2025, that, on this date, the Regional Labor Court of the 3rd Region (TRT-3) approved a single agreement entered into with the employee representative entities, within the scope of collective bargaining agreements 0011802-15.2025.5.03.0000 and 0011731-13.2025.5.03.0000, involving the Union of Electric Power Workers of Southern Minas Gerais (SINDSUL), the Federation of Workers in Urban Industries of Minas Gerais (FTIUMG), the Intermunicipal Union of Workers in the Energy Industry of Minas Gerais (SINDIELETRO); the Union of Engineers of the State of Minas Gerais (SENGE); the Union of Industrial Technicians of Minas Gerais (SINTEC); the Union of Utility Workers of Juiz de Fora, and the retired employees of the Association of Retired Employees and Pensioners of Cemig and its Subsidiaries (AEA).

The new agreement unifies and replaces the previous agreements already approved between Cemig and the labor unions, as disclosed in the Material Facts of December 03, 2025 and September 19, 2025, limiting the payment of a compensatory indemnification (buyout) to a maximum aggregate amount of R$1,280,000,000.00 (one billion and two hundred and eighty million reais), to be paid on a pro rata basis in 6 (six) installments, with the final installment due in 2030. Upon execution of the agreement, Cemig shall bear no responsibility for losses, deficits, insufficiencies, financial losses, or technical or actuarial imbalances of the new health plans, whose funding shall be entirely borne by the beneficiaries. Financial budgetary, technical, and actuarial management shall be the responsibility of the governance bodies of the Cemig Saúde Operator and the Management Committee of the new plans.

The single agreement enables the transition of the 15,496 (fifteen thousand, four hundred and ninety-six) participants of the ProSaúde Integrado Plan (PSI) to the new Cemig Saúde health plans, with the termination of Cemig’s sponsorship of the PSI as of December 31, 2025. As a result, Cemig concludes its direct involvement in the management and funding of retirees’ health plans.

The agreement approved by TRT-3 will lead to the extinction of judicial claims discussing the right to health plan funding, covering active employees, retirees, and pensioners represented by or affiliated with the signatory entities.

CEMIG reaffirms its commitment to keeping shareholders and the market in general informed about this matter, under CVM regulations and applicable legislation.

Belo Horizonte, December 12, 2025.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

11.

Notice to the Market dated December 19, 2025- Cemig SIM concludes the acquisition of 10MWp in solar power plants

COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG

PUBLICLY-HELD COMPANY

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

COMPANY REGISTRY (NIRE): 31300040127

NOTICE TO THE MARKET

~~Conclusion~~Cemig ofSIM concludes the ~~Onerous~~acquisition ~~Transfer~~ of ~~Four~~10MWp ~~Small~~in ~~Power~~solar ~~Plants~~power plants

COMPANHIA ENERGÉTICA DE MINAS GERAIS – CEMIG (“CEMIG”), a publicly-held company with shares traded on the stock exchanges of São Paulo and New York, ~~and~~hereby ~~CEMIG~~informs ~~GERAÇÃO~~its ~~E TRANSMISSÃO S.A. (“CEMIG GT”), a publicly-held company and the wholly-owned subsidiary of CEMIG, hereby inform their~~ shareholders and the market in general that, ~~further to the Notice to the Market disclosed on February 21, 2025, CEMIG GT and~~ its wholly-owned ~~subsidiaries~~subsidiary CEMIG ~~GERAÇÃO~~SOLUÇÕES ~~LESTE~~INTELIGENTES EM ENERGIA S.A., ~~CEMIG~~(“Cemig ~~GERAÇÃO~~SIM”) ~~OESTE S.A.~~has, ~~CEMIG GERAÇÃO~~on ~~SUL~~this ~~S.A.~~date, ~~have~~concluded ~~completed today~~ the ~~Onerous~~acquisition ~~Transfer~~ of ~~the~~a ~~Machado~~51% ~~Mineiro,~~equity ~~Sinceridade,~~interest ~~Martins,~~in ~~and~~two ~~Marmelos~~distributed generation photovoltaic power plants to(“UFVs”) ~~ÂMBAR~~and ~~HIDROENERGIA~~100% ~~LTDA~~of ~~(“ÂMBAR~~one ~~HIDROENERGIA”)~~UFV, ~~after~~totaling ~~all~~10 ~~conditions~~MWp ~~precedent~~of ~~under~~installed ~~the Onerous~~capacity, ~~Transfer~~for ~~Agreement~~an ~~were~~amount ~~fulfilled~~of R$52.8 million.

~~The~~As ~~amount~~a ~~received~~result ~~from~~of this acquisition, CEMIG SIM has terminated the ~~divestment~~partnerships ~~was~~previously ~~R$52.4~~in place and now holds full ownership interests in all proprietary assets in its portfolio, in line with CEMIG’s ~~million~~Strategic Planning.

~~This~~CEMIG ~~Onerous~~reaffirms ~~Transfer~~its ~~aims~~commitment to ~~comply~~keep ~~with~~ shareholders, the ~~guidelines of~~market ~~CEMIG’s~~in ~~Strategic Plan~~general, ~~which~~and ~~seeks~~other tostakeholders ~~optimize~~duly ~~the portfolio~~ and ~~operational~~timely ~~efficiency~~informed, ~~with~~in ~~better~~accordance ~~capital~~with ~~allocation~~CVM ~~through the~~regulations ~~divestment~~and ofapplicable ~~small-sized assets~~legislation.

~~CEMIG~~Belo ~~and CEMIG GT reaffirm their commitment to keeping shareholders~~Horizonte, ~~the~~December ~~market in general~~19, ~~and other stakeholders duly and timely informed about this matter, in accordance with the rules issued by the CVM and the legislation in force~~2025.

Belo Horizonte, October 16, 2025.

Andrea Marques de Almeida

Vice President of Finance and Investor Relations

6. 2Q Interim Financial Information

SUMMARY

FINANCIAL RESULT
INTERIM FINANCIAL INFORMATION	21
STATEMENTS OF FINANCIAL POSITION	21
STATEMENTS OF INCOME	23
STATEMENTS OF COMPREHENSIVE INCOME	25
STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY	26
STATEMENTS OF CASH FLOWS	27
STATEMENTS OF ADDED VALUE	29
NOTES TO THE INTERIM FINANCIAL INFORMATION	30
1. OPERATING CONTEXT	30
2. BASIS OF PREPARATION	31
3. PRINCIPLES OF CONSOLIDATION	32
4. OPERATING SEGMENTS	32
5. CASH AND CASH EQUIVALENTS	35
6. MARKETABLE SECURITIES	35
7. RECEIVABLES FROM CUSTOMERS, TRADERS AND CONCESSION HOLDERS	36
8. INCOME AND SOCIAL CONTRIBUTION TAXES	37
9. CONCESSION FINANCIAL AND SECTOR ASSETS AND LIABILITIES	40
10. CONCESSION CONTRACT ASSETS	43
11. INVESTMENTS	45
12. PROPERTY, PLANT AND EQUIPMENT	47
13. INTANGIBLE ASSETS	47
14. LEASING	48
15. SUPPLIERS	49
16. TAXES PAYABLE AND AMOUNTS TO BE REFUNDED TO CUSTOMERS	49
17. LOANS AND DEBENTURES	50
18. POST-EMPLOYMENT OBLIGATIONS	56
19. PROVISIONS	58
20. EQUITY AND REMUNERATION TO SHAREHOLDERS	60
21. NET REVENUE	62
22. COSTS, EXPENSES AND OTHER REVENUE	67
23. FINANCE INCOME AND EXPENSES	71
24. RELATED PARTY TRANSACTIONS	73
25. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	77
26. SALE OF ASSETS	83
27. ASSETS CLASSIFIED AS HELD FOR SALE	83
28. SUBSEQUENT EVENTS	84
Report on Review of interim Financial Information – ITR	87
OTHER INFORMATION THAT THE COMPANY BELIEVES TO BE MATERIAL	89
DIRECTORS’ STATEMENT OF REVIEW OF THE INTERIM FINANCIAL INFORMATION	97
DIRECTORS’ STATEMENT OF REVIEW OF THE REPORT BY THE EXTERNAL AUDITORS ON THE INTERIM FINANCIAL INFORMATION	98

FINANCIAL RESULTS

(Amounts expressed in thousands of Reais, unless otherwise indicated)

(The information in this performance report has not been reviewed by the independent auditors)

Consolidated results

Net income for the quarter

Cemig’s net income in 2Q25 was R$1,188,281, 29.63% lower, compared to R$1,688,586 in 2Q24.

The main changes in revenues, costs, expenses and financial results, in a consolidated and segregated manner by segment, are presented below.

Earnings before interest, taxes, depreciation, and amortization (EBITDA)

EBITDA – Apr to Jun/2025	Generation	Transmission	Trading	Distribution	Gas	Investee	Total
Net income for the year	449,724	(2,841)	6,481)	550,550	150,820	33,547	1,188,281
Income tax and Social Contribution tax	31,781	(36,693)	(3,961)	147,391	71,765	(20,474)	189,809
Net financial revenue (expenses)	(15,614)	3,207	(4,121)	257,444	(4.533)	26,577	262,960
Depreciation and amortization	78,044	4,652	3	254,372	25,438	5,884	368,393
Ebitda according to “CVM Instruction n. 156” (1)	543,935	(31,675)	(1,598)	1,209,757	243,490	45,534	2,009,443
Non-recurring and non-cash effects
Net income attributable to non-controlling interests	-	-	-	-	(648)	-	(648)
Remeasurement of post-employment benefit liabilities (Note 18)	(2,302)	(1,422)	(326)	(16,163)	-	(948)	(21,161)
Remeasurement BNES (2) (Note 10)	-	198,895	-	-	-	-	198,895
Voluntary Separation Program (Note 22c)	1,920	1,187	272	20,812	-	1,200	25,391
Adjusted EBITDA (3)	543,553	166,985	(1,652)	1,214,406	242,842	45,786	2,211,920

EBITDA – Apr to Jun/2024	Generation	Transmission	Trading	Distribution	Gas	Investee	Total
Net income for the year	315,039	108,947	101,008	1,060,437	137,823	(34,668)	1,688,586
Income tax and Social Contribution tax	58,300	27,512	(576)	350,163	62,904	(35,966)	462,337
Net financial revenue (expenses)	75,996	41,764	(6,921)	(305,459)	11,937	64,564	(118,119)
Depreciation and amortization	83,670	(60)	4	224,113	24,085	5,967	337,779
Ebitda according to “CVM Instruction n. 156” (1)	533,005	178,163	93,515	1,329,254	236,749	(103)	2,370,583
Non-recurring and non-cash effects
Net income attributable to non-controlling interests	-	-	-	-	(593)	-	(593)
Constitution of civil provisions - Purchase and sale of energy	-	-	52,647				(52,647)
Reversal of tax provisions - INSS s/ PLR	(30,503)	(32,967)	(5,049)	(513,331)	-	(2,500)	(584,350)
Voluntary Separation Program	9,312	10,064	1,541	56,468	-	763	78,148
Adjusted EBITDA (2)	511,814	155,260	142,654	872,391	236,156	(1,840)	1,916,435

(1) Ebitda is a non-accounting measure prepared by the Company, reconciled with the consolidated interim financial information in accordance with CVM Circular SNC/SEP n. 1/2007 and CVM Resolution n. 156 of June 23, 2022. It comprises Net income adjusted by the effects of net financial revenue (expenses), Depreciation and amortization, and Income and Social Contribution taxes. Ebitda is not a measure recognized by Brazilian GAAP nor by IFRS; it does not have a standard meaning; and it may be non-comparable with measures with similar titles provided by other companies. The Company publishes Ebitda because it uses it to measure its own performance. Ebitda should not be considered in isolation or as a substitution for net income or operational income, nor as an indicator of operational performance or cash flow, nor to measure liquidity nor the capacity for payment of debt.

(2) The Company adjusts the Ebitda for a better understanding of how its operating performance was impacted by extraordinary items which, because of their nature, do not contribute towards information on the potential of future cash generation.

2Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The Company’s Adjusted EBITDA decreased by 15.23%, primarily due to the recognition of a reduction in the contract asset, totaling R$198,895, net of PIS/Pasep and Cofins, resulting from the remeasurement of the Existing System Basic Network (RBSE), following the changes introduced by Homologation Resolution No. 3,469/2025. Further details are provided in the transmission segment performance commentary.

By excluding non-recurring effects through Adjusted EBITDA, there was a 15.42% increase, primarily driven by the following factors:

Recognition of tariff subsidy revenue in the amount of R$374,909, net of PIS/Pasep and Cofins, resulting from increased discounts granted by Cemig, primarily to the “Incentivized Source Load” and “GD II” customer classes. Further details are provided in the distribution segment performance commentary; and

The Company’s exposure to price differences between sub-markets, which negatively impacted the trading activity by R$69,091, net of PIS/Pasep and Cofins. Further details are provided in the trading segment performance commentary.

Net revenue

The breakdown of net revenue is as follows:

	Consolidated		Variation %
	Apr to Jun/2025	Apr to Jun/2024
Revenue from supply of energy - captive customers, in Cemig's concession area	8,686,379	8,144,077	6.66
Revenue from use of the energy distribution systems (TUSD) - free customers	1,414,496	1,251,554	13.02
CVA and Other financial components	70,394	(56,556)	(224.47)
Restitution of PIS/Pasep and Cofins credits to consumers - Realization	-	190,186	-
Revenues from transmission
Revenues from operation and maintenance	114,197	79,716	43.25
Revenue of transmission construction	179,130	104,891	70.78
Financial remuneration of the transmission contract assets	30,416	134,430	(77.37)
Generation indemnity revenue	31,201	20,596	51.49
Revenue of distribution construction	1,324,446	1,154,213	14.75
Adjustment of cash flow expectation of the financial asset of distribution concession	26,618	22,258	19.59
Revenues from financial actualization of the concession bonus	118,859	107,011	11.07
Settlement in the CCEE	39,585	14,380	175.28
Gas supply	965,491	972,424	(0.71)
Fine for violation of the continuity indicator standard	(39,949)	(37,084)	7.73
Other revenues	1,315,539	761,856	72.68
Taxes and charges levied on revenue	(3,490,507)	(3,427,961)	1.82
Net revenues	10,786,295	9,435,991	14.31

3Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Revenue from supply of energy - captive customers, in Cemig's concession area

The Company's gross electricity supply revenue is comprised of the delivery of energy to regulated consumers, free consumers, supply to other concessionaires, and energy offset through net metering by micro and mini distributed generation customers. This revenue increased by 6.66%, totaling R$8,686,379 in the second quarter of 2025, compared to R$8,144,077 in the second quarter of 2024, in line with a 9.36% growth in energy volume, as detailed below:

	Apr to Jun/2025			Apr to Jun/2024			Change, %
	MWh (1)	R$	Average price/MWh billed (R$/MWh) (2)	MWh	R$	Average price/MWh billed (R$/MWh) (2)	MWh	R$
Residential	3,667,850	3,374,148	919.93	3,552,969	3,066,719	863.14	3.23	10.02
Industrial	4,676,668	1,278,269	273.33	4,440,313	1,326,674	298.78	5.32	(3.65)
Commercial, Services and Others	3,141,492	1,650,182	525.29	3,009,442	1,609,719	534.89	4.39	2.51
Rural	984,250	643,413	653.71	927,534	599,558	646.40	6.11	7.31
Public authorities	384,704	229,246	595.90	270,497	232,496	859.51	42.22	(1.40)
Public lighting	235,650	140,046	594.30	244,326	131,933	539.99	(3.55)	6.15
Public services	58,262	146,260	2,510.38	235,023	174,633	743.05	(75.21)	(16.25)
Subtotal	13,148,876	7,461,564	567.47	12,680,104	7,141,732	563.22	3.70	4.48
Own consumption	6,992	-	-	7,710	-	-	(9.31)	-
Net unbilled retail supply	-	77,702	-	-	68,410	-	-	-
	13,155,868	7,539,266	567.47	12,687,814	7,210,142	563,22	3.69	4.56
Wholesale supply to other concession holders (3)	5,042,543	1,162,502	230.54	3,952,637	966,330	244,48	27.57	20.30
Wholesale supply unbilled, net	-	(15,389)	-	-	(32,395)	-	-	(52.50)
Total	18,198,411	8,686,379	474.07	16,640,451	8,144,077	487,48	9.36	6.66

(1) Information not reviewed by the independent auditors

(2) The calculation of the average price does not include revenue from supply not yet billed.

(3) Includes Sale Contracts in the Regulated Market (CCEARs – Contratos de Comercialização de Energia no Ambiente Regulado) through the Surplus and Deficits Offsetting Mechanism (MSCD: Mecanismo de Compensação de Sobras e Déficits), sales on the Free Market, and the revenues from management of generation assets (GAG – Gestão de Ativos da Geração) for the 18 hydroelectric plants of Lot D of Auction no 12/2015.

The main variations in energy supply are described below:

4Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Residential

Residential energy consumption increased by 3.23% in the second quarter of 2025 compared to the second quarter of 2024, totaling 114,881 MWh. This variation is primarily driven by a 23.65% increase in the volume of energy offset through net metering by micro and mini distributed generation customers — 497,451 MWh in Q2 2025 versus 402,294 MWh in the same period of the previous year.

Industrial

Industrial grade consumption increased by 5.32%, or 236,355 MWh, in the second quarter of 2025, compared to the same period of the previous year. This growth is mainly composed of the following factors:

§ An increase of 22.12%, or 442,185 MWh, in the supply of energy to free customers, due to the price adjustment of the contracts, which are mostly updated at the beginning of the year.

§ On the other hand, there was a reduction of 35.69%, or 99,374 MWh, in the consumption of captive customers of the industrial class, mainly due to the migration of customers to the free market.

Commercial, services, and others

Consumption within this customer class increased by 4.39% in the second quarter of 2025 compared to the same period of the previous year. This growth was primarily driven by the retail segment, due to contract price adjustments, most of which are indexed and updated at the beginning of the fiscal year.

Revenue from use of network – Free Consumers

This is the revenue from charging Free Consumers the Tariff for Use of the Distribution System (Tarifa de Uso do Sistema de Distribuição, or TUSD) on the volume of energy distributed. In the second quarter of 2025, this revenue amounted to R$1,414,496, compared to R$1,251,554 in the second quarter of 2024, representing a 13.02% increase. This variation is primarily attributable to the annual tariff adjustment applied by the distribution company.

CVA and Other financial components in tariff adjustments

Cemig D recognizes in its interim financial statements the positive or negative variances between actual non-manageable costs and the estimated costs used as the basis for tariff setting. These balances represent amounts that must either be reimbursed to consumers or recovered by Cemig D in future tariff adjustments. The primary purpose of the CVA (Cost Variation Account) is to restore the economic and financial balance of distribution companies.

5Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

In the second quarter of 2025, a revenue of R$70,394 was recognized, compared to an expense of R$56,556 in the same period of 2024. This variation is mainly due to the increase in energy settlement costs at the CCEE (Electric Energy Trading Chamber).

More information on the composition and movement of CVA can be found in note 9.3.

Distribution Construction Revenue

The construction revenue, associated with construction of infrastructure for the distribution concession of energy and gas in 2Q25 totaled R$ 1,324, compared to R$ 1,154,213 in the same period of 2024, an increase of 14.75%. This variation is mainly due to the following factors:

§ an increase in the number of projects, mainly related to electricity distribution networks, in line with the Distribution Development Plan (PDD), resulting in construction revenue of R$1,231,705 in the second quarter of 2025, compared to R$1,078,688 in the second quarter of 2024, an increase of 14.19%; and

§ an increase in the number of projects carried out by Gasmig, in line with the Centro-Oeste Project, which foresees the construction of an additional 300 km of gas pipelines. In the second quarter of 2025, construction revenue totaled R$92,741, compared to R$75,525 in the same period of the previous year, an increase of 22.80%. The project is scheduled for completion in the second half of 2026.

These revenues is fully offset by construction costs, of the same amount, and corresponds to the investments by Cemig D and Gasmig in assets of the concession in the period.

6Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Transmission concession revenue

The Company’s transmission revenue is composed of: (i) Operation and Maintenance (O&M) Revenue; (ii) Construction Revenue and (iii) Financial Remuneration of the Contractual Asset.

This revenue totaled R$323,743 in the second quarter of 2025, compared to R$319,037 in the same period of the previous year, representing an increase of 1.48%.

Taxes and regulatory charges reported as deductions from revenue

Taxes and charges on revenue in 2Q25 totaled R$3,490,507, compared to R$3,427,961 in 2Q24 –a reduction of 1.82%.

Costs and expenses

Operational costs and expenses in 2Q25 were R$9,222,663, compared to R$7,441,898 in 2Q24, representing an increase of 23.93%. The main variations in components of this total are as described below.

Energy bought for resale

The cost of electricity purchased for resale is composed as follows:

The cost of energy purchased for resale in 2Q25 was R$4,547,303, which compares to R$3,693,227 in 2Q24, an increase of 23.13%. The main factors here were:

§ There was a 30.46% increase in the cost of energy purchased in the free market, totaling R$1,656,838 in the second quarter of 2025, compared to R$1,269,988 in the second quarter of 2024. This increase was mainly due to the higher purchase volume required to offset energy deficits in relation to contracted commitments, as well as the rise in market prices in 2025.

7Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

§ In the second quarter of 2025, there was a 268.29% increase in short-term energy costs, totaling R$489,394 compared to R$132,881 in the second quarter of 2024. This increase was mainly driven by the sharp rise in the PLD (Settlement Price for Differences) in the Southeast/Central-West submarket, which was not offset by the PLD in the Northeast and North submarkets.

In the trading activity, the Company's exposure to price differences between submarkets negatively affected the results. Further details can be found in the 'Trading Segment Performance' section.

In the distribution activity, the negative impact of this exposure is mitigated by the CVA mechanism, which is offset in the subsequent tariff adjustment. Additionally, the unfavorable hydrological scenario in the second quarter of 2025 resulted in a low average MRE (Energy Reallocation Mechanism) of 0.95, compared to 0.99 in the same period of the previous year, leading to an increase in the values passed through related to Hydrological Risk.

§ a 21.22% increase in the cost of distributed generation, totaling R$846,075 in the second quarter of 2025, compared to R$697,974 in the second quarter of 2024. This variation is due to the increase in the number of generating installations (336,669 in the second quarter of 2025, compared to 273,174 in the second quarter of 2024) and the higher volume of energy injected into the grid (1,797 GWh in the second quarter of 2025, compared to 1,487 GWh in the second quarter of 2024).

8Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Revaluation of the Existing System Basic Network (RBSE)

In June 2025, Aneel published ReH No. 3,469, which amended the Allowed Annual Revenue (RAP) related to the financial component of the assets of the Existing System Basic Network (RBSE), previously approved by ReH No. 2,852/2021. As a result, the Company carried out a revaluation of the RBSE contractual asset, recording a reduction of R$219,168 in the contractual asset. Further details can be found in explanatory note No. 10.

Expected credit losses

In the second quarter of 2025, there was a 95.99% reduction in expected credit losses, amounting to R$3,098, compared to R$77,300 in the second quarter of 2024. This variation is mainly due to the change, effective from August 2024, in the time limit for full recognition of losses—from 24 to 36 months for regular consumption customers, and from 12 to 18 months for irregular consumption customers—in order to achieve a more accurate estimate of credit risk exposure for Cemig D's captive customers. This change is reflected over a 12-month period, impacting the second quarter of 2025. Additional information on the composition of costs, expenses, and other revenues is provided in explanatory note No. 22.

Net finance revenue

The financial result corresponded to a financial expense of R$262,960 in the second quarter of 2025, compared to a financial income of R$118,119 in the same period of 2024. This variation is mainly associated with the following factors:

§ Monetary variation and debenture charges

The total monetary variation and debenture charges represented an expense of R$445,093 in the second quarter of 2025, compared to an expense of R$293,606 in the same period of 2024, representing a 51.60% increase. This variation is mainly due from the contracting of Cemig D’s 11th, 12th, and 13th debenture issuances, which increased the Company's debt level and, consequently, these expenses.

The composition of financial income and expenses is presented in explanatory note No. 23.

Update of taxes refundable to consumers

The update of tax credits related to PIS/Pasep and Cofins, resulting from the exclusion of ICMS from their calculation basis, and of the liability refundable to consumers is presented at net value.

A net financial income of R$4,345 was recognized in the second quarter of 2025, compared to a net financial income of R$406,414 in the same period of the previous year. In the second quarter of 2024, the remaining balance of the liability 'Amounts refundable to consumers' was written off, as it had been returned through tariff revisions, with a corresponding entry in the financial result, which increased the financial result for that period.

9Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Income tax and social contribution

In 2Q25 the Company posted an expense on income tax and the Social Contribution tax of R$189,809 (R$462,337 in 2Q24), on pre-tax income of R$1,378,090 (R$2,150,923 in 2Q24) – an effective rate of 13.77% (21.49in 2Q24).

The effective rates are reconciled with the nominal rates in Note 8d.

Results by segment

The results presented separately by segment do not consider eliminations from the consolidated operations between the segments.

Distribution segment performance

For 2Q25 Cemig’s electricity distribution operations posted net income of R$550,554, compared to R$1,060,436 in 2Q24, representing a reduction of 48.08%. The main changes are presented below.

Ebitda - Distribution	Apr to Jun/2025 (R$)	Apr to Jun/2024 (R$)	Variation (%)
Net Income for the Period	550,550	1,060,437	-48.08
Income Tax and Social Contribution Expense	147,391	350,163	-57.91
Financial Result	257,444	(305,459)
Depreciation and Amortization	254,372	224,113	13.5
EBITDA (per CVM Resolution 156)	1,209,757	1,329,254	-8.99
Non-recurring and Non-cash Effects
Post-employment Liability Remeasurement	(16,163)	-	-
Voluntary Termination Program	20,812	56,468	-63.14
Reversal of Tax Provisions - INSS on Profit Sharing (Note 22)	0	(513,331)
Adjusted EBITDA	1,214,406	872,391	39.20

10Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Net revenue

Net revenue for this segment increased by 14.91%, reaching R$7,269,939 in the second quarter of 2025 compared to R$6,326,844 in the same period of 2024. The main variations are presented below:

Revenue from supply of electricity

Cemig D's revenue from the supply of electricity is composed of energy delivered to captive consumers and energy compensated through micro and mini distributed generation by customers. This revenue was R$6,090,187 in the second quarter of 2025, compared to R$5,881,556 in the second quarter of 2024, representing an increase of 3.55%. This variation mainly due to the following factors:

§ increase of 4.27% in the average billed price per MWh (R$853.44/MWh in the second quarter of 2025 compared R$805.82 in the same period of 2024), primarily due to the annual tariff adjustment of Cemig D, effective as of May 28, 2024;

§ increase of 3.23% in electricity consumption by the residential segment, mainly driven from the increase in the amount of energy compensated by customers through micro and mini distributed generation; and

§ On the other hand, there was a 35.69% reduction in the industrial class due to the migration of captive consumers to the free market.

11Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Revenue from charging - Free Consumers

Increase of 12.92% on revenue from charging Free Consumers the Tariff for Use of the Distribution System (Tarifa de Uso do Sistema de Distribuição, or TUSD) resulting from the charges imposed on free consumers for the use of distributed energy. In 2Q25 this revenue was R$1,424,464, compared to R$1,261,441 for the same period in the previous year. This variation results primarily due to the distributor's annual tariff adjustment.

Construction revenue

The Construction revenues associated with construction of infrastructure for the distribution concession totaled R$1.231.705 in 2Q25, compared to R$1.078.688 in the same period in the previous year, showing an increase of 14.19%. This variation is basically due to the increase in the number of works due to the Distribution Development Plan (Plano de Desenvolvilmenot da Distribuição, or PDD), mainly in distribution networks. This revenue is fully offset by construction costs and corresponds to the Cemig D’s investments in assets of the concession.

Costs and expenses

Total costs and expenses for the distribution segment amounted to R$6,314,552 in the second quarter of 2025, compared to R$5,221,703 in the same period of 2024, representing an increase of 20.93%. The main changes are presented below.

Cost of electricity purchased for resale

There was a 14.65% increase in the cost of electricity purchased for resale, totaling R$2,917,439 in the second quarter of 2025, compared to R$2,544,751 in the second quarter of 2024. This variation is mainly associated with the following factors:

§ An increase of 173.92% in short-term energy costs, totaling R$333,854 in the second quarter of 2025 compared to R$121,879 in the same period of 2024. This variation was mainly due to the sharp rise in the PLD (Settlement Price for the Difference) in the Southeast/Central-West submarket, which was not offset by the PLD in the Northeast and North submarkets. Additionally, the unfavorable hydrological scenario resulted in a low MRE (Energy Reallocation Mechanism). In the distribution activity, the negative effect of this exposure is mitigated by the CVA mechanism, being compensated in the subsequent tariff adjustment. Additionally, the unfavorable hydrological scenario in the second quarter of 2025 resulted in a low average MRE (Energy Reallocation Mechanism) of 0.95, compared to 0.99 in the same period of the previous year.

§ A increase of 21.22% in distributed generation costs, totaling R$846,075 in the second quarter of 2025, compared to R$697,973 in the same period of 2024, mainly due to the increase in the number of generating installations and the volume of energy injected into the grid.

12Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The costs of electricity purchased for resale are non-manageable, and the difference between the reference values used to define tariffs and the actual costs incurred is compensated in the subsequent tariff adjustment.

Expected Credit Losses

In the second quarter of 2025, there was a reduction of 96.99% in expected credit losses, totaling a provision of R$2,184, compared to a provision of R$72,477 in the same period of the previous year. This difference is primarily due to the change, effective from August 2024, in the recognition period limit for losses, which increased from 24 to 36 months for regular consumption customers, and from 12 to 18 months for irregular consumption customers, aiming to achieve a more accurate estimate of credit risk exposure for Cemig D's captive consumers. This change is reflected over a 12-month period, impacting the second quarter of 2025.

Provisions for contingencies

Cemig D recognized provisions for contingencies in the amount of R$86,353 in the second quarter of 2025, compared to a net reversal of R$459,529 in the same period of 2024.

The main variation occurred in tax-related contingencies, due to the recognition of a provision reversal of R$513,331 in the second quarter of 2024, following a favorable first-instance court decision for the Company, which ordered the cancellation of the charge and the termination of the tax enforcement process related to social security contributions on Profit Sharing (PLR).

Net financial result

In the second quarter of 2025, the financial result for this segment was a net expense of R$257,443, compared to a revenue of R$305,458 in the same period of the previous year. This variation is mainly associated with the increase in charges and monetary restatement of debentures, resulting from the issuance of the 11th, 12th and 13th series of debentures, which raised Cemig D’s debt level and, consequently, its financial expenses.

More detailed information on the variations and impacts presented in this segment is available in Cemig D’s interim financial statements.

Performance of the Transmission Segment

The transmission segment recorded a loss of R$2,841 in the second quarter of 2025, compared to a net profit of R$108,947 in the second quarter of 2024. The main variations are described below.

Ebitda - Transmission	Apr to Jun/2025 (R$)	Apr to Jun/2024 (R$)	Variation (%)
Net Income for the Period	(2,841)	108,947	–
Income Tax and Social Contribution Expense	(36,693)	27,512	–
Financial Result	3,207	41,764	-92.32%
Depreciation and Amortization	4,652	(60)	–
EBITDA – per CVM Resolution 156	(31,675)	178,163	–
Non-recurring and Non-cash Effects
Post-employment Liability Remeasurement	(1,422)	–	–
RBSE Remeasurement (Note 10)	198,895	–	–
Voluntary Termination Program	1,187	10,064	-88.21%
Reversal of Tax Provisions – INSS on Profit Sharing (Note 22)	–	(32,967)	–
Adjusted EBITDA	166,985	155,260	7.55%

13Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The reduction in EBITDA for the transmission segment is mainly associated with the recognition of a decrease in the contract asset, in the amount of R$198,895, net of PIS/Pasep and Cofins, resulting from the remeasurement of the Existing System Basic Network (RBSE), due to changes introduced by Homologation Resolution No. 3,469/2025. Further details can be found in explanatory note No. 10.

Transmission concession revenue

The Company’s transmission revenue is composed of: (i) operation and maintenance revenue, (ii) construction revenue, and (iii) financial remuneration of the contractual asset.

Construction, reinforcement, and infrastructure improvement revenues totaled R$179,130 in the second quarter of 2025, compared to R$104,891 in the same period of 2024, representing a 70.78% increase. This variation is primarily due to the higher volume of investments in reinforcement and improvement works, project development, and the significant supply of high-value equipment.

14Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Construction costs

The transmission construction cost amounted to R$138,924 in the second quarter of 2025, compared to R$72,720 in the same period of 2024, representing an increase of 91.04%. The variation in value mainly reflects the largest volume was invested in reinforcement and improvement works, in the development of projects, with a significant supply of equipment that carries high financial value.

Remeasurement of the Existing System's Basic Network (RBSE)

In June 2025, ANEEL published Resolution No. 3,469, which amended the Allowed Annual Revenue (RAP) related to the financial component of the assets of the Existing System's Basic Network (RBSE), previously approved by Resolution No. 2,852/2021. As a result, the Company carried out the remeasurement of the RBSE contract asset, recording a reduction of R$219,168 in the contract asset. Further details can be found in explanatory note No. 10.

Finance income (expenses)

The transmission segment recorded a net financial expense of R$3,207 in the second quarter of 2025, compared to a net financial expense of R$41,764 in the same period of the previous year, representing a 92.32% reduction. Until December 2024, the Company recorded foreign exchange variation on loans related to Eurobonds. In accordance with the Company's policy, the allocation of this expense across segments impacted Generation, Transmission, and Equity Interests. The settlement of the Eurobonds in December 2024 eliminated Cemig’s exposure.

Detailed information on the variations and impacts presented in this segment is available in Cemig GT’s interim financial statements.

Performance of the Generation Segment

The generation segment reported a net income of R$449,724 in the second quarter of 2025, compared to R$315,039, representing a 42.75% increase, mainly due to changes in the financial result for the period.

This segment recorded net financial income of R$15,614 in the second quarter of 2025, compared to net financial expenses of R$75,996 in the same period of the previous year. Until December 2024, the Company accounted for exchange rate variations on loans related to Eurobonds. The allocation of this expense by segment, in accordance with the Company's policy, impacted the Generation, Transmission, and Holdings segments. The settlement of the Eurobonds in December 2024 eliminated Cemig’s exposure.

15Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)

EBITDA – Generation Segment	Apr to jun/2025	Apr to jun/2024	Variation %
Net Income for the Period	449,724	315,039	42.75%
Income Tax and Social Contribution Expense	31,781	58,300	-45.49%
Financial Result	(15,614)	75,996	-
Depreciation and Amortization	78,044	83,670	-6.72%
EBITDA According to CVM Resolution 156	543,935	533,005	2.05%
Non-Recurring and Non-Cash Effects
Remeasurement of Post-Employment Benefit Liabilities	(2,302)	-	-
Voluntary Termination Program	1,920	9,312	-79.38%
Reversal of Tax Provisions – INSS on Profit Sharing (Note 22)	-	(30,503)	-
Adjusted EBITDA	543,553	511,814	6.20%

The EBITDA evolution is as follows:

Detailed information on the variations and impacts presented in this segment is available in Cemig GT’s interim financial statements.

Performance of the Trading Segment

The Trading Segment recorded a net profit of R$6,481 in the second quarter of 2025, compared to R$101,008 in the second quarter of 2024, representing a 93.58% decrease. This variation is mainly due to the increase in short-term electricity costs, primarily driven by the Company's exposure to price differences between submarkets.

EBITDA – Trading Segment	Apr to jun/2025	Apr to jun/2024	Variation %
Net Income for the Period	6,481	101,008	-93,58%
Income Tax and Social Contribution Expense	(3,961)	(576)	587,67%
Financial Result	(4,121)	(6,921)	-40,46%
Depreciation and Amortization	3	4	-25,00%
EBITDA According to CVM Resolution 156	(1,598)	93,515	-
Non-Recurring and Non-Cash Effects
Remeasurement of Post-Employment Benefit Liabilities	(326)	-	-
Recognition of Civil Provisions – Energy Purchase and Sale	-	52,647	-
Voluntary Termination Program	272	1,541	-82,35%
Reversal of Tax Provisions – INSS on Profit Sharing (Note 22)	-	(5,049)	-
Adjusted EBITDA	(1,652)	142,654	-

16Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The cost of electricity purchased for resale amounted to R$1,950,946 in the second quarter of 2025, compared to R$1,469,585 in the second quarter of 2024, representing a 32.75% increase. The main reasons for this increase are detailed below.

Electricity Costs – Price Differences Between Submarkets

Due to transmission constraints, flow optimization, and system balancing, the National Interconnected System (Sistema Interligado Nacional, or SIN) is divided into four submarkets: South (S), Southeast/Central-West (SE/CO), Northeast (NE), and North (NO).

In addition to its own resources, the Company also relies on energy acquired from third parties to meet market demand. Since 2018, the Company has contracted an average of 900 MW from solar and wind energy projects located in the Northeast to supply most of its load, which is concentrated in the South and Southeast/Central-West submarkets. The current composition of the Company’s energy portfolio results in a surplus in the Northeast submarket and a deficit in the Southeast/Central-West submarket. Due to transmission constraints between submarkets, short-term prices may vary across regions.

The price received for the sale of surplus energy in the Northeast and the price paid for energy acquired to cover the deficit in the South and Southeast/Central-West is measured by the PLD (Settlement Price for the Differences) established for each of these submarkets. When the PLD is the same across submarkets, there is no impact on the Company’s results. However, in the second quarter, due to transmission constraints between submarkets, combined with changes in the system operation planning model and low inflows, there was a price divergence among the submarkets.

17Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The PLDs (Settlement Prices for the Differences) observed for the second quarter of 2025 and 2024 are as follows:

	Southeast/Central-West (SE/CO)	South (S)	Northeast (NE)	North (NO)
April 2024	61.07	61.07	61.07	61.07
May 2024	61.07	61.07	61.07	61.07
June 2024	66.41	66.40	66.40	66.41
April 2025	202.18	202.98	107.28	107.27
May 2025	212.58	233.39	124.98	125.19
June 2025	234.71	236.10	230.90	232.29

As presented in the previous table, during the second quarter of 2024, despite the Company's exposure to submarkets, there was no difference between the PLDs of the SE/CO, South, and Northeast submarkets, resulting in no impact on earnings. In the second quarter of 2025, however, the price differences between submarkets negatively affected the Company's results by R$76,133, increasing short-term energy purchase costs. This amount represents the residual effect between the sale of surplus energy in the Northeast and the purchase of energy in the South and Southeast submarkets.

The following chart details the Company’s exposure, in average MW (MWm), and the price difference between the SE/CO and South submarkets (analyzed jointly) compared to the Northeast submarket.

Performance of the Gas Segment

The Gas Segment recorded a net profit of R$150,820 in the second quarter of 2025, compared to R$137,823 in the second quarter of 2024, an increase of 9.43%. This variation was mainly driven by changes in financial results.

In the second quarter of 2025, the Gas Segment recorded financial income of R$4,533, compared to financial expenses of R$11,937 in the same period of the previous year. In fiscal year 2024, Gasmig did not have financial operations with interest eligible for capitalization. In December 2024, with the 9th debenture issuance, Gasmig raised funds for investments in its distribution network. The interest accrued on the operation was fully allocated to assets under construction during the period, resulting in improved financial performance.

18Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Ebitda - Gas Segment	Apr–Jun/2025 (R$)	Apr–Jun/2024 (R$)	Variation (%)
Net Income for the Period	150,820	137,823	9.43%
Income Tax and Social Contribution Expense	71,765	62,904	14.09%
Financial Result	(4,533)	11,937	–
Depreciation and Amortization	25,438	24,085	5.62%
EBITDA – per CVM Resolution 156	243,490	236,749	2.85%
Non-recurring and Non-cash Effects
Net Income Attributable to Non-controlling Shareholders	(648)	(593)	9.27%
Adjusted EBITDA	242,842	236,156	2.83%

Additional detailed information regarding the variations and impacts presented in this segment is available in Gasmig’s interim financial statements.

Equity interests, and the holding company

The Equity Interests and Holding Segment recorded a net profit of R$33,547 in the second quarter of 2025, compared to a net loss of R$34,668 in the second quarter of 2024.

Adjusted EBITDA – Holding/Investments Segment	Apr–Jun/2025 (R$)	Apr–Jun/2024 (R$)	Variation (%)
Net Income for the Period	33,547	(34,668)	–
Income Tax and Social Contribution Expense	(20,474)	(35,966)	–
Financial Result	26,577	64,564	-58.84%
Depreciation and Amortization	5,884	5,967	-1.39%
EBITDA – per CVM Resolution 156	45,534	(103)	–
Non-recurring and Non-cash Effects
Post-employment Liability Remeasurement	(948)	–	–
Voluntary Termination Program	1,200	763	57.27%
Reversal of Tax Provisions – INSS on Profit Sharing	–	(2,500)	–
Adjusted EBITDA	45,786	(1,840)	–

19Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

This variation is mainly associated with the higher equity method result recorded for the jointly controlled entity Taesa, which amounted to R$106,957 in the second quarter of 2025, compared to R$51,707 in the same period of the previous year.

20Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

INTERIM FINANCIAL INFORMATION

STATEMENTS OF FINANCIAL POSITION

AS OF JUNE 30, 2025, AND DECEMBER 31, 2024

ASSETS

(In thousands of Brazilian Reais)

	Note	Consolidated		Parent company
		Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025		Dec. 31, 2024
CURRENT
Cash and cash equivalents	5	1,757,787	1,898,224	134,464		417,258
Marketable securities	6	1,221,070	357,913	291,356		3,743
Receivables from customers, traders and concession holders	7	5,651,867	5,596,248	421,758		454,286
Concession financial assets	9	1,232,360	1,190,020	-		-
Concession contract assets	10	1,109,923	1,140,037	-		-
Recoverable taxes		551,193	510,963	3,515		1,687
Income tax and social contribution tax credits	8a	152,812	7,283	-		-
Dividends receivables	24	63,382	111,367	2,192,679		2,088,913
Restricted Funds	17	45,106	235,206	2,514		11,465
Public lighting contribution		327,073	296,061	-		-
Reimbursement of tariff subsidies		623,470	208,688	-		-
Other assets		819,038	623,708	38,051		55,566
		13,555,081	12,175,718	3,084,337		3,032,918
Assets classified as held for sale	27	57,114	56,864	-		-
TOTAL CURRENT		13,612,195	12,232,582	3,084,337		3,032,918
NON-CURRENT
Long-term assets		24,985,060	23,365,059		2,506,907	2,338,017
Marketable securities	6	56,439	134,606	14,284		1,215
Receivables from customers, traders and concession holders	7	276,672	253,925	2,829		3,863
Recoverable taxes		1,507,199	1,454,662	576,003		564,822
Income tax and social contribution tax recoverable	8a	511,669	582,348	323,037		239,102
Deferred income tax and social contribution tax	8c	2,348,044	2,333,721	1,155,644		1,089,940
Escrow deposits		1,207,197	1,196,083	318,445		324,763
Reimbursement of tariff subsidies		15,620	-	-		-
Accounts receivable from the State of Minas Gerais	24	34,987	40,393	34,987		40,393
Concession financial assets	9	7,642,329	6,881,394	-		-
Concession contract assets	10	11,243,748	10,326,877	-		-
Other assets		141,156	161,050	81,678		73,919
Investments - Equity method	11	3,275,291	3,221,020	27,227,104		27,054,069
Property, plant and equipment	12	3,910,084	3,715,105	656		713
Intangible assets	13	17,247,304	16,805,900	5,332		4,004
Leasing - right of use assets	14a	381,295	387,170	2,359		2,417
TOTAL NON-CURRENT		49,799,034	47,494,254	29,742,358		29,399,220
TOTAL ASSETS		63,411,229	59,726,836	32,826,695		32,432,138

The accompanying notes are an integral part of these interim financial information.

21Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

STATEMENTS OF FINANCIAL POSITION

AS OF JUNE 30, 2025, AND DECEMBER 31, 2024

LIABILITIES

(In thousands of Brazilian Reais)

	Note	Consolidated		Parent company
		Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024
CURRENT
Suppliers	15	3,080,310	2,951,571	370,204	354,177
Regulatory charges		462,985	343,944	-	-
Profit sharing		92,893	111,045	11,487	18,398
Taxes payable	16	749,371	724,521	137,322	133,146
Income tax and social contribution	8b	159,260	162,975	-	-
Interest on equity and dividends payable		2,865,571	3,611,198	2,862,904	3,608,821
Debentures	17	2,747,228	2,876,548	-	-
Payroll and related charges		255,802	217,415	13,573	11,782
Public lighting contribution		496,942	475,032	-	-
Accounts payable related to energy generated by residential consumers		1,640,563	1,251,298	-	-
Post-employment obligations	18	218,428	232,898	25,839	20,406
Concession financial liabilities	9	-	16,470	-	-
Amounts to refund to customers	16	371,510	526,499	-	-
Leasing liabilities	14b	86,030	79,228	233	233
Other liabilities		446,189	565,166	42,641	44,373
TOTAL CURRENT		13,673,082	14,145,808	3,464,203	4,191,336
NON-CURRENT
Regulatory charges		128,466	171,893	4,624	4,624
Debentures	17	12,516,709	9,402,752	-	-
Taxes payable	16	487,885	496,253	-	-
Deferred income tax and social contribution	8c	1,421,542	1,543,290	-	-
Provisions	19	1,959,945	1,853,043	346,870	333,908
Post-employment obligations	18	4,117,758	4,072,608	533,309	519,931
Amounts to refund to customers	16	158,531	166,089	-	-
Leasing liabilities	14b	340,262	349,972	2,547	2,579
Other liabilities		128,189	142,049	1,975	1,974
TOTAL NON-CURRENT		21,259,287	18,197,949	889,325	863,016
TOTAL LIABILITIES		34,932,369	32,343,757	4,353,528	5,054,352
EQUITY
Share capital	20	14,308,909	14,308,909	14,308,909	14,308,909
Capital reserves		393,093	393,093	393,093	393,093
Profit reserves		13,575,648	13,575,648	13,575,648	13,575,648
Equity valuation adjustments		(898,517)	(899,864)	(898,517)	(899,864)
Retained earnings		1,094,034	-	1,094,034	-
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT		28,473,167	27,377,786	28,473,167	27,377,786
Non-Controlling interests		5,693	5,293	-	-
TOTAL EQUITY		28,478,860	27,383,079	28,473,167	27,377,786
TOTAL LIABILITIES AND EQUITY		63,411,229	59,726,836	32,826,695	32,432,138

The accompanying notes are an integral part of these interim financial information.

22Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

INCOME STATEMENTS

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025, AND 2024

(In thousands of Brazilian Reais, except earnings per share)

	Note	Consolidated		Parent company
		Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024

NET REVENUE	21	20,630,526	18,493,858	1,976,693	1,952,784
COSTS
Cost of energy and gas	22a	(11,331,859)	(9,883,222)	(1,874,653)	(1,568,732)
Infrastructure and construction cost	22b	(2,665,235)	(2,147,914)	-	-
Operating costs	22c	(2,642,633)	(1,933,575)	(12,030)	(11,940)
		(16,639,727)	(13,964,711)	(1,886,683)	(1,580,672)
GROSS PROFIT		3,990,799	4,529,147	90,010	372,112
EXPENSES AND OTHER REVENUE
Expected credit losses	22c	(53,726)	(153,153)	87	(9,309)
General and administrative expenses	22c	(371,569)	(375,446)	(36,671)	(20,956)
Other expenses	22c	(580,594)	(457,253)	(73,894)	(77,515)
Other revenue	22d	-	42,989	-
		(1,005,889)	(942,863)	(110,478)	(107,780)
Share of profit, net, of affiliates, subsidiaries and joint ventures	11	119,537	129,212	2,211,366	2,593,461
Income before financial revenue (expenses) and taxes		3,104,447	3,715,496	2,190,898	2,857,793
Finance income	23	485,442	927,008	(29,476)	26,961
Finance expenses	23	(998,033)	(989,875)	(859)	(306)
		(512,591)	(62,867)	(30,335)	26,655
Income before income tax and social contribution tax		2,591,856	3,652,629	2,160,563	2,884,448
Current income tax and social contribution tax	8d	(508,224)	(409,241)	-	(41,436)
Deferred income tax and social contribution tax	8d	143,389	(401,911)	65,318	(2,631)
		(364,835)	(811,152)	65,318	(44,067)
NET INCOME FOR THE PERIOD		2,227,021	2,841,477	2,225,881	2,840,381
Total of net income for the period attributed to:
Equity holders of the parent		2,225,881	2,840,381	2,225,881	2,840,381
Non-controlling interests		1,140	1,096	-	-
		2,227,021	2,841,477	2,225,881	2,840,381
Basic and diluted earnings per preferred share - R$	20	0,78	0.99
Basic and diluted earnings per common share - R$	20	0,78	0.99

The accompanying notes are an integral part of these interim financial information.

23Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

INCOME STATEMENTS

FOR THE THREE-MONTH PERIODS ENDED JUNE 30, 2025, AND 2024

(In thousands of Brazilian Reais, except earnings per share)

	Note	Consolidated		Parent company
		Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
NET REVENUE	21	10,786,295	9,435,991	1,032,471	942,588
COSTS
Cost of energy and gas	22a	(5,809,115)	(5,019,191)	(948,688)	(773,477)
Infrastructure and construction cost	22b	(1,463,371)	(1,226,933)	-	-
Operating costs	22c	(1,363,676)	(686,180)	(5,867)	(5,990)
		(8,636,162)	(6,932,304)	(954,555)	(779,467)
GROSS PROFIT		2,150,133	2,503,687	77,916	163,121
EXPENSES AND OTHER REVENUE
Expected credit losses	22c	(3,098)	(77,300)	28	(3,315)
General and administrative expenses	22c	(177,602)	(205,700)	(14,064)	(5,437)
Other expenses	22c	(405,801)	(226,594)	(43,763)	(48,895)
		(586,501)	(509,594)	(57,799)	(57,647)
Share of profit, net, of affiliates, subsidiaries and joint ventures		77,418	38,711	1,166,096	1,578,346
Income before financial revenue (expenses) and taxes		1,641,050	2,032,804	1,186,213	1,683,820
Finance income	23	302,444	725,474	(13,578)	13,885
Finance expenses	23	(565,404)	(607,355)	(81)	(96)
		(262,960)	118,119	(13,659)	13,789
Income before income tax and social contribution tax		1,378,090	2,150,923	1,172,554	1,697,609
Current income tax and social contribution tax	8d	(249,538)	(149,309)	-	(10,930)
Deferred income tax and social contribution tax	8d	59,729	(313,028)	15,079	1,314
		(189,809)	(462,337)	15,079	(9,616)
NET INCOME FOR THE PERIOD		1,188,281	1,688,586	1,187,633	1,687,993
Total of net income for the period attributed to:
Equity holders of the parent		1,187,633	1,687,993	1,187,633	1,687,993
Non-controlling interests		648	593	-	-
		1,188,281	1,688,586	1,187,633	1,687,993
Basic and diluted earnings per preferred share - R$	20	0,42	0.59
Basic and diluted earnings per common share - R$	20	0,42	0.59

The accompanying notes are an integral part of these interim financial information.

24Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

STATEMENTS OF COMPREHENSIVE INCOME

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025, AND 2024

(In thousands of Brazilian Reais)

	Consolidated		Parent company
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
NET INCOME FOR THE PERIOD	2,227,021	2,841,477	2,225,881	2,840,381
OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to profit or loss in subsequent periods
Post retirement liabilities - remeasurement of obligations of the defined benefit plans	11,006	-	(1,134)	-
Income tax and social contribution tax on remeasurement of defined benefit plans	(3,742)	-	386	-
Equity gain (loss) on other comprehensive income in subsidiary and jointly controlled entity	-	-	8,012	-
Other comprehensive income	-	(734)	-	(734)
	7,264	(734)	7.264	(734)
COMPREHENSIVE INCOME FOR THE PERIOD, NET OF TAXES	2,234,285	2,840,743	2,233,145	2,839,647
Total of comprehensive income for the period attributed to:
Equity holders of the parent	2,233,145	2,839,647	2,233,145	2,839,647
Non-controlling interests	1.140	1.096	-	-
	2,234,285	2,840,743	2,233,145	2,839,647

The accompanying notes are an integral part of these interim financial information.

STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE-MONTH PERIODS ENDED JUNE 30, 2025, AND 2024

(In thousands of Brazilian Reais)

	Consolidated		Parent company
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
NET INCOME FOR THE PERIOD	1,188,281	1,688,586	1,187,633	1,687,993
OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to profit or loss in subsequent periods
Post retirement liabilities - remeasurement of obligations of the defined benefit plans	(48,731)	-	(5,791)	-
Income tax and social contribution tax on remeasurement of defined benefit plans	16,568	-	1,969	-
Equity gain (loss) on other comprehensive income in subsidiary and jointly controlled entity	-	-	(28,341)	-
	(32,163)	-	(32,163)	-
COMPREHENSIVE INCOME FOR THE PERIOD, NET OF TAXES	1,156,118	1,688,586	1,155,470	1,687,993
Total of comprehensive income for the period attributed to:
Equity holders of the parent	1,155,470	1,687,993	1,155,470	1,687,993
Non-controlling interests	648	593	-
	1,156,118	1,688,586	1,155,470	1,687,993

The accompanying notes are an integral part of these interim financial information.

25Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025, AND 2024

(In thousands of Brazilian Reais, except where otherwise indicated)

	Share capital	Capital reserves	Profit reserves				Equity valuation adjustments		Retained earnings	Total controlling interests	Non-controlling interests	Total Equity
			Legal reserve	Tax incentive reserve	Retained Earnings reserve	Unrealized Earnings reserve	Deemed cost of PP&E	Other Comprehensive income
BALANCES ON DECEMBER 31, 2023	11,006,853	2,249,721	1,674,667	212,868	10,318,598	834,603	421,270	(2,069,345)	-	24,649,235	5,958	24,655,193
Net income for the period	-	-	-	-	-	-	-	-	2,840,381	2,840,381	1,096	2,841,477
Other comprehensive income	-	-	-	-	-	-	-	(734)	-	(734)	-	(734)
Comprehensive income for the period	-	-		-	-	-	-	(734)	2,840,381	2,839,647	1,096	2,840,743
Capital increase	3,302,056	(1,856,628)	-	-	(1,445,428)	-	-	-	-	-	-	-
Realization of PP&E deemed cost	-	-	-	-	-	-	(12,319)	-	12,319	-	-	-
Interest on equity	-	-	-	-	-	-	-	-	(816,046)	(816,046)	-	(816,046)
Non-controlling interests	-	-	-	-	-	-	-	-	-	-	(2,266)	(2,266)
BALANCES ON JUNE 30, 2024	14,308,909	393,093	1,674,667	212,868	8,873,170	834,603	408,951	(2,070,079)	2,036,654	26,672,836	4,788	26,677,624
BALANCES ON DECEMBER 31, 2024	14,308,909	393,093	2,024,818	327,004	10,389,223	834,603	404,798	(1,304,662)	-	27,377,786	5,293	27,383,079
Net income for the period	-	-	-	-	-	-	-	-	2,225,881	2,225,881	1,140	2,227,021
Other comprehensive income
Adjustment of actuarial liabilities - restatement of obligations of the defined benefit plans, net of taxes	-	-	-	-	-	-	-	7,264	-	7,264	-	7,264
Comprehensive income for the period	-	-	-	-	-	-	-	7,264	2,225,881	2,233,145	1,140	2,234,285
Realization of PP&E deemed cost	-	-	-	-	-	-	(5,917)	-	5,917	-	-	-
Interest on equity	-	-	-	-	-	-	-	-	(1,137,764)	(1,137,764)	-	(1,137,764)
Non-controlling interests	-	-	-	-	-	-	-	-	-	-	(740)	(740)
BALANCES ON JUNE 30, 2025	14,308,909	393,093	2,024,818	327,004	10,389,223	834,603	398,881	(1,297,398)	1,094,034	28,473,167	5,693	28,478,860

The accompanying notes are an integral part of this interim financial information.

26Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

STATEMENTS OF CASH FLOWS

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025, AND 2024

(In thousands of Brazilian Reais)

	Note	Consolidated		Parent company
		Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
CASH FLOW FROM OPERATIONS
Net income for the period		2,227,021	2,841,477	2,225,881	2,840,381
Adjustments to reconcile net income to net cash flows:
Current and deferred income tax and social contribution	8	364,835	811,152	(65,318)	44,067
Depreciation and amortization	22c	732,240	667,452	124	71
Write-off of net residual value of assets and impairment		74,799	42,869	-	-
Gain on disposal of assets		-	(42,989)	-	-
Refund of tariff subsidies		(638,368)	-	-	-
Share of loss (gain), net, of subsidiaries and joint ventures	11	(119,537)	(129,212)	(2,211,366)	(2,593,461)
Remeasuring of concession financial and concession contract assets		(652,344)	(684,709)	-	-
RBSE remeasurement (RBSE = Basic Network of Existing Services)	12	219,168	-	-	-
Interest and monetary variation		621,508	417,964	(50,881)	(63,927)
Exchange variation on loans	23	-	273,485	-	-
Reimbursement of PIS/Pasep and Cofins over ICMS credits to customers	16	(177,892)	(512,852)	-	-
Reversal of amounts refundable to customers		-	(410,626)	-	-
Appropriation of transaction costs	17	12,431	8,392	-	-
Expected credit losses	22	53,726	153,153	(87)	9,309
Provision for contingencies	19	251,690	(327,046)	31,452	30,470
Net gain on derivative instruments at fair value through profit or loss		-	(112,050)	-	-
CVA (Parcel A items Compensation) Account and other financial components in tariff adjustments	9	(196,714)	(19,119)	-	-
Post-employment obligations	18	211,729	243,837	31,928	30,844
Other		(3,228)	(6,841)	(1,404)	-
		2,981,064	3,214,337	(39,671)	297,754
(Increase) decrease in assets
Receivables from customers, traders and concession holders	7	(132,092)	64,273	33,649	4,251
Tariff Subsidy Reimbursement	9	207,966	-	-	-
Recoverable taxes		(94,752)	36,632	(1,828)	8,818
Income tax and social contribution tax credits		(116,646)	236,053	89,858	122,938
Escrow deposits		30,157	61	14,381	(12,928)
Contractual assets and concession financial assets	9 e 10	396,981	515,649	-	-
Other		(191,195)	(90,246)	16,566	(17,988)
		100,419	762,422	152,626	105,091
Increase (decrease) in liabilities
Suppliers	15	128,739	(257,013)	16,027	11,113
Income tax and social contribution tax payable	16	(82,603)	(148,610)	(104,228)	(168,027)
Payroll and related charges		38,387	100,168	1,791	7,135
Regulatory charges		75,614	(8,493)	-	-
Post-employment contributions paid	18	(170,043)	(257,971)	(14,251)	(12,432)
PIS/Pasep and Cofins refundable to customers	16	-	(373)	-	-
Accounts payable related to energy generated by consumers		239,640	185,657	-	-
Other		(270,291)	(249,886)	(27,132)	1,229
		(40,557)	(636,521)	(127,793)	(160,982)
Cash from operations activities		3,040,926	3,340,238	(14,838)	241,863
Interest received		187,607	101,344	23,260	29,575
Dividends and interest on equity received	11	107,723	212,939	1,967,599	1,615,590
Interest paid on debentures	17	(526,396)	(442,424)	-	-
Interest paid on leasing contracts	14	(2,914)	(2,550)	(4)	(5)
Income tax and social contribution tax paid		(460,775)	(282,248)	(21,392)	(13,784)
Settlement of derivative financial instruments	25	-	(6,524)	-	-
NET CASH FROM OPERATING ACTIVITIES		2,346,171	2,920,775	1,954,625	1,873,239
INVESTING ACTIVITIES
Investments in marketable securities		(10,155,781)	(6,275,493)	(1,035,591)	(2,043,102)
Redemptioms in marketable securities		9,409,775	5,654,766	742,943	1,805,211
Investments in Restricted cash		(1,318,152)	-	(406,780)	-
Redemptions of restricted funds		1,508,252	-	415,731	-
Acquisition of equity investees and contributions to investees		(593)	(16,358)	(177,000)	(180,150)
Sale of PP&E	27	-	100,887	-	-
Reduction of share capital in investee		-	47,932	-	-
Property, plant and equipment	12	(307,229)	(275,146)	-	-
Intangible assets	13	(70,505)	(116,213)	(1,341)	(1,317)
Contract assets - distribution of gas and energy infrastructure	10	(2,332,673)	(1,910,406)	-	-
NET CASH USED IN INVESTING ACTIVITIES		(3,266,906)	(2,790,031)	(462,038)	(419,358)

27Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

FINANCING ACTIVITIES
Proceeds from debentures, net	17	4,965,036	1,946,302	-	-
Interest on equity and dividends paid		(1,775,716)	(1,437,823)	(1,775,266)	(1,437,823)
Payment of debentures	17	(2,368,868)	(575,916)	-	-
Leasing liabilities paid	14	(40,154)	(36,540)	(115)	(136)
NET CASH FLOWS PROVIDE BY/ USED IN FINANCING ACTIVITIES		780,298	(103,977)	(1,775,381)	(1,437,959)
Net (decrease) increase in cash and cash equivalents		(140,437)	26,767	(282,794)	15,922
Cash and cash equivalents at the beginning of the period	5	1,898,224	1,537,482	417,258	187,691
Cash and cash equivalents at the end of the period	5	1,757,787	1,564,249	134,464	203,613

The accompanying notes are an integral part of this interim financial information.

28Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

STATEMENTS OF ADDED VALUE

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025, AND 2024

(In thousands of Brazilian Reais)

	Consolidated		Parent company
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
REVENUES
Sales of energy, gas and services	24,174,225	22,525,331	2,303,103	2,274,917
Energy and gas distribution construction revenue	2,472,992	2,047,640	-	-
Transmission construction revenue	245,474	168,285	-	-
Interest revenue arising from the financing component in the transmission contract asset	203,848	285,822	-	-
RBSE Remeasurement (EBTN)(Existing Basic Transmission Network)	(219,168)	-	-	-
Adjustment to expectation of cash flow from reimbursement of distribution concession financial assets	79,821	53,209	-	-
Revenue from the construction of own assets	225,954	57,999	-	-
Estimated credit losses	(53,726)	(153,153)	87	(9,309)
	27,129,420	24,985,133	2,303,190	2,265,608
INPUTS ACQUIRED FROM THIRD PARTIES
Energy bought for resale	(9,507,808)	(7,780,591)	(2,065,796)	(1,728,568)
Charges for use of national grid	(1,730,224)	(1,849,699)	63	(63)
Outsourced services	(2,354,749)	(1,963,605)	(11,993)	(8,021)
Gas bought for resale	(1,236,761)	(1,293,975)	-	-
Materials	(1,432,351)	(1,034,999)	(80)	(65)
Other costs	(609,966)	(66,676)	(40,933)	(32,017)
	(16,871,859)	(13,989,545)	(2,118,739)	(1,768,734)
GROSS VALUE ADDED	10,257,561	10,995,588	184,451	496,874
RETENTIONS
Depreciation and amortization	(732,240)	(666,321)	(124)	(71)
NET ADDED VALUE PRODUCED BY THE COMPANY	9,525,321	10,329,267	184,327	496,803
ADDED VALUE RECEIVED BY TRANSFER
Share of income, net, of associates and joint ventures	119,537	129,212	2,211,366	2,593,461
Gain on financial updating of the Concession Grant Free	257,316	235,636	-	-
Generation indemnity revenue	58,129	42,030	-	-
Financial revenues	610,558	1,017,067	67,370	95,260
	1,045,540	1,423,945	2,278,736	2,688,721
ADDED VALUE TO BE DISTRIBUTED	10,570,861	11,753,212	2,463,063	3,185,524
DISTRIBUTION OF ADDED VALUE
Employees	996,274	1,048,397	64,031	64,006
Direct remuneration	635,470	599,464	24,405	20,600
Post-employment obligations and other benefits	298,022	334,732	37,004	35,141
FGTS fund	37,391	36,053	1,787	2,049
Scheduled Voluntary Separation Program	25,391	78,148	835	6,216
Taxes	6,299,793	6,831,879	172,270	280,814
Federal	3,567,876	4,212,049	46,843	157,203
State	2,723,312	2,612,787	125,286	123,453
Municipal	8,605	7,043	141	158
Remuneration of external capital	1,047,773	1,031,459	881	323
Interest	1,040,147	1,025,134	859	306
Rentals	7,626	6,325	22	17

Remuneration of own capital	2,227,021	2,841,477	2,225,881	2,840,381
Interest on capital	1,137,764	816,046	1,137,764	816,046
Retained Earnings	1,088,117	2,024,335	1,088,117	2,024,335
Non-controlling interest in retained earnings	1,140	1,096	-	-
	10,570,861	11,753,212	2,463,063	3,185,524

The accompanying notes are an integral part of these interfim financial information.

29Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

NOTES TO THE INTERIM FINANCIAL INFORMATION

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025

(In thousands of Brazilian Reais, except where otherwise indicated)

1. OPERATING CONTEXT

Cemig

Companhia Energética de Minas Gerais (‘Cemig’, ´Parent company’ or ‘Cemig Holding’) is a listed corporation registered in the Brazilian Registry of Corporate Taxpayers (CNPJ) under No. 17.155.730/0001-64, with shares traded on the São Paulo Stock Exchange (‘B3’) at Corporate Governance Level 1; on the New York Stock Exchange (‘NYSE’).

On July 8, 2025, BME - Bolsa y Mercados Españoles Sistemas de Negociación approved Cemig’s request to delist its equity securities from the Mercado de Valores Latino-Americanos (Latibex), with the delisting becoming effective on July 10, 2025.

The Cemig is an entity domiciled in Brazil, at Avenida Barbacena, nº 1200, Santo Agostinho neighborhood, in Belo Horizonte, Minas Gerais. Constituted to operate in the trading of electric power and as holding company, with interests in subsidiaries and jointly controlled entities, whose objects are construction and operation of systems for generation, transformation, transmission, distribution and sale of energy. And Cemig operates in areas such as gas distribution, distributed generation services and energy efficiency solutions.

The operations of the Cemig and its subsidiaries are divided into 6 segments: Generation, Transmission, Trading, Distribution, Gas and Investees.

The Company's interim financial information covers the Company and its subsidiaries.

On June 30, 2025, the Company had positive net consolidated working capital (as defined as consolidated current assets less consolidated current liabilities) of R$60,887 (negative of R$1,913,226 on December 31, 2024). The Company has been raising funds from third parties to support its investment program. In the first half of 2025, the subsidiaries Cemig D and Cemig GT raised funds through the issuance of debentures in the amounts of R$4,395,000 and R$625,000, respectively.

Management monitors the Company’s cash flow and evaluates measures to adjust its equity situation as necessary. The Company has achieved positive operational cash flow and profitability, as shown in our consolidated statements of income and cash flows.

The Company estimates that the cash balances, and cash flow from operations and financing activities, are sufficient to meet the needs for working capital, investments, debt servicing, and other cash needs in the next 12 months. The Company also has existing credit lines at the financial institutions with which it operates.

30Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Acquisition of Timóteo-Mesquita Transmission Company

On February 26, 2025, Cemig GT signed the Asset Purchase and Sale Agreement (Contrato de Compra e Venda de Ativos, or ‘CCVA’) for the acquisition of the entire share capital of the Empresa de Transmissão Timóteo-Mesquita (ETTM) owned by the Fram Capital Group.

The price negotiated was R$30 million and the Annual Permitted Revenue (Receita Anual Permitida, or ‘RAP’) of the assets is R$5.7 million. ETTM's transmission assets are connected to the 230 kV Basic Grid owned by Cemig, located in the Vale do Aço region of Minas Gerais.

The closing of the transaction is subject to compliance with the usual conditions precedent for this type of operation, including the approval of CADE and Aneel.The acquisition is in line with Cemig's Strategic Plan, which provides for investment in transmission assets in the state of Minas Gerais.

2. BASIS OF PREPARATION

2.1 Statement of compliance

The individual and consolidated interim financial information has been prepared in accordance with CPC 21 (R1) / IAS 34 – Interim Financial Reporting, which applies to interim financial information, and the rules issued by the Brazilian Securities Commission (Comissão de Valores Mobiliários, or CVM), applicable to preparation of Quarterly Information (Informações Trimestrais, or ITR).

The Company also uses the guidelines contained in the Brazilian Electricity Sector Accounting Manual (MCSE) and the standards defined by Aneel, when these do not conflict with the pronouncements of the CPC or with International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board (IASB).

Presentation of the Added Value Statements (Demonstrações do Valor Adicionado, or ‘DVA’) is required by the Brazilian corporate law for listed companies. Under IFRS Accounting Standards this statement is not required and is presented as supplementary information, without prejudice to the financial statements as a whole.

Except for the new rules, or alterations to rules, that came into effect on January 1, 2025, this interim accounting information has been prepared in accordance with principles, practices and criteria consistent with those adopted the preparation of the annual financial statements for the year ended December 31, 2024.

Thus, this interim financial information should be read in conjunction with the said annual financial statements, approved by the Company’s management on March 20, 2025.

31Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

All relevant accounting information inherent to the interim financial statements is properly disclosed and corresponds to the information used by Management in its decision-making process.

The Company's Board of Directors authorized the issuance of this interim financial information on August 14, 2025.

2.2 New or revised accounting standards applied for the second time in 2025

The changes made to CPC 18 (R3) / IAS 28, ICPC 09, CPC 02 (R2) / IAS 21, CPC 37 (R1) / IFRS 1 and OCPC 10, in force for annual periods beginning January 1, 2025, did not produce significant impacts on the Company's individual and consolidated interim financial statements.

3. PRINCIPLES OF CONSOLIDATION

The reporting dates of financial information of the subsidiaries used for the purposes of calculation of consolidation and jointly controlled entities and affiliates used for calculation of this equity method contribution are prepared as of the same reporting date of the Company. Accounting policies are applied uniformly in line with those used by the parent company.

The direct equity investments of Cemig, included in the consolidation, are the following:

Subsidiary	June 30, 2025 and December 31, 2024
	Form of valuation	Direct interest, %
Cemig Geração e Transmissão S.A. (“Cemig GT”)	Consolidation	100.00
Cemig Distribuição S.A. (“Cemig D”)	Consolidation	100.00
Companhia de Gás de Minas Gerais (“Gasmig”)	Consolidation	99.57
Cemig Soluções Inteligentes em Energia S.A. (“Cemig Sim”)	Consolidation	100.00
Sete Lagoas Transmissora de Energia S.A. (“Sete Lagoas”)	Consolidation	100.00

Further details on the investments are presented in Note 11 to the financial statements.

4. OPERATING SEGMENTS

Detailed information on the operating segments is disclosed in note 5 to the financial statements for the year ended December 31, 2024.

32Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

INFORMATION BY SEGMENT FROM JANUARY TO JUNE 2025
Account/Description	Energy				Gas	Investees	Total	Eliminations (1)	Consolidated
	Generation	Transmission	Trading	Distribution
NET REVENUE	1,581,817	720,431	3,872,779	13,773,425	1,702,579	48,994	21,700,025	(1,069,499)	20,630,526
Intersegments	768,170	277,914	930	22,485	-	-	1,069,499	(1,069,499)	-
Third parties	813,647	442,517	3,871,849	13,750,940	1,702,579	48,994	20,630,526	-	20,630,526
COST OF ENERGY AND GAS	(246,372)	(196)	(3,783,413)	(7,380,231)	(973,949)	(148)	(12,384,309)	1,052,450	(11,331,859)
Intersegments	(20,012)	(77)	(723,878)	(306,965)	-	(1,518)	(1,052,450)	1,052,450	-
Third parties	(226,360)	(119)	(3,059,535)	(7,073,266)	(973,949)	1,370	(11,331,859)	-	(11,331,859)
COSTS, EXPENSES AND OTHER REVENUE (2)
Personnel	(73,142)	(78,453)	(21,196)	(497,993)	(32,304)	(31,592)	(734,680)	-	(734,680)
‘Employees and managers’ income sharing	(8,151)	(8,880)	(5,273)	(52,119)	(4,924)	(9,962)	(89,309)	-	(89,309)
Post-employment obligations	(22,352)	(13,813)	(3,165)	(136,219)	-	(36,180)	(211,729)	-	(211,729)
Materials, outsourced services and other expenses (revenues), net	(114,048)	(241,404)	(16,742)	(1,117,908)	(40,505)	(23,954)	(1,554,561)	17,049	(1,537,512)
Intersegments	(13,697)	(1,362)	-	(1,649)	(105)	(236)	(17,049)	17,049	-
Third parties	(100,351)	(240,042)	(16,742)	(1,116,259)	(40,400)	(23,718)	(1,537,512)	-	(1,537,512)
Depreciation and amortization	(158,339)	(9,695)	(6)	(501,864)	(50,571)	(11,765)	(732,240)	-	(732,240)
Operating provisions and impairment	(13,349)	(9,004)	(7,891)	(281,193)	53	(31,668)	(343,052)	-	(343,052)
Construction costs	-	(192,244)	-	(2,278,650)	(194,341)	-	(2,665,235)	-	(2,665,235)
Total cost of operation	(389,381)	(553,493)	(54,273)	(4,865,946)	(322,592)	(145,121)	(6,330,806)	17,049	(6,313,757)
COSTS, EXPENSES AND OTHER REVENUE	(635,753)	(553,689)	(3,837,686)	(12,246,177)	(1,296,541)	(145,269)	(18,715,115)	1,069,499	(17,645,616)
Equity in earnings of unconsolidated investees	-	-	-	-	-	119,537	119,537	-	119,537
INCOME BEFORE FINANCE INCOME (EXPENSES)	946,064	166,742	35,093	1,527,248	406,038	23,262	3,104,447	-	3,104,447
Finance net income (expenses)	12,056	(9,174)	7,952	(459,539)	(11,094)	(52,792)	(512,591)	-	(512,591)
INCOME BEFORE INCOME TAX AND SOCIAL CONTRIBUTION TAX	958,120	157,568	43,045	1,067,709	394,944	(29,530)	2,591,856	-	2,591,856
Income tax and social contribution tax	(114,513)	3,101	27,501	(205,997)	(129,740)	54,813	(364,835)	-	(364,835)
NET INCOME FOR THE PERIOD	843,607	160,669	70,546	861,712	265,204	25,283	2,227,021	-	2,227,021
Equity holders of the parent	843,607	160,669	70,546	861,712	264,064	25,283	2,225,881	-	2,225,881
Non-controlling interests	-	-	-	-	1,140	-	1,140	-	1,140

(1) The reconciliation between the published amounts for the segments and the accounting information on revenue and costs indicates the transactions between the consolidated companies (eliminations).

(2) The information on costs and expenses by nature is segregated according to the internal business model.

33Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

INFORMATION BY SEGMENT FROM JANUARY TO JUNE 2024
Account/Description	Energy				Gas	Investees	Total	Eliminations (1)	Consolidated
	Generation	Transmission	Trading	Distribution
NET REVENUE	1,436,072	599,020	3,408,244	12,297,078	1,653,290	17,380	19,411,084	(917,226)	18,493,858
Intersegments	690,968	195,864	-	19,780	-	10,614	917,226	(917,226)	-
Third parties	745,104	403,156	3,408,244	12,277,298	1,653,290	6,766	18,493,858	-	18,493,858
COST OF ENERGY AND GAS	(169,299)	(187)	(2,924,173)	(6,669,411)	(1,019,005)	(1,856)	(10,783,931)	900,709	(9,883,222)
Intersegments	(16,740)	(73)	(658,175)	(223,483)	-	(2,238)	(900,709)	900,709	-
Third parties	(152,559)	(114)	(2,265,998)	(6,445,928)	(1,019,005)	382	(9,883,222)	-	(9,883,222)
COSTS AND EXPENSES (2)
Personnel	(82,300)	(81,381)	(26,945)	(493,317)	(34,831)	(22,068)	(740,842)	-	(740,842)
‘Employees and managers’ income sharing	(8,651)	(9,040)	(3,865)	(54,260)	-	(6,603)	(82,419)	-	(82,419)
Post-employment obligations	(25,498)	(15,757)	(3,611)	(160,272)	-	(35,538)	(240,676)	-	(240,676)
Materials, outsourced services and other expenses (revenues), net	(114,980)	(43,403)	(14,774)	(1,093,886)	(34,063)	(14,038)	(1,315,144)	16,517	(1,298,627)
Intersegments	(13,266)	(1,237)	-	(1,003)	(91)	(920)	(16,517)	16,517	-
Third parties	(101,714)	(42,166)	(14,774)	(1,092,883)	(33,972)	(13,118)	(1,298,627)	-	(1,298,627)
Depreciation and amortization	(167,253)	119	(10)	(440,312)	(47,812)	(11,053)	(666,321)	-	(666,321)
Operating provisions and impairment	10,884	13,595	(61,590)	187,477	(1,022)	(39,886)	109,458	-	109,458
Construction costs	-	(100,274)	-	(1,937,664)	(109,976)	-	(2,147,914)	-	(2,147,914)
Other revenue	42,989	-	-	-	-	-	42,989	-	42,989
Total cost of operation	(344,809)	(236,141)	(110,795)	(3,992,234)	(227,704)	(129,186)	(5,040,869)	16,517	(5,024,352)
COSTS AND EXPENSES	(514,108)	(236,328)	(3,034,968)	(10,661,645)	(1,246,709)	(131,042)	(15,824,800)	917,226	(14,907,574)
Equity in earnings of unconsolidated investees	-	-	-	-	-	129,212	129,212	-	129,212
INCOME BEFORE FINANCE INCOME (EXPENSES)	921,964	362,692	373,276	1,635,433	406,581	15,550	3,715,496	-	3,715,496
Finance net income (expenses)	(103,798)	(58,351)	14,370	196,678	(29,096)	(82,670)	(62,867)	-	(62,867)
INCOME BEFORE INCOME TAX AND SOCIAL CONTRIBUTION TAX	818,166	304,341	387,646	1,832,111	377,485	(67,120)	3,652,629	-	3,652,629
Income tax and social contribution tax	(131,333)	(63,088)	(94,634)	(449,336)	(122,654)	49,893	(811,152)	-	(811,152)
NET INCOME FOR THE PERIOD	686,833	241,253	293,012	1,382,775	254,831	(17,227)	2,841,477	-	2,841,477
Equity holders of the parent	686,833	241,253	293,012	1,382,775	253,735	(17,227)	2,840,381	-	2,840,381
Non-controlling interests	-	-	-	-	1,096	-	1,096	-	1,096

(1) The reconciliation between the values of the disclosable segments and the accounting information on revenues and costs represents the operations between the consolidated companies (eliminations).

(2) The information on operational costs and expenses separated by type is segregated in accordance with the internal business model.

34Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The information for assets by segment is not presented, because this is not part of the information made available to the Company’s Chief Operating Decision Maker (“CODM”) for decision-making purposes, which is the Executive Board

5. CASH AND CASH EQUIVALENTS

	Indexer	Average rate per year		Consolidated		Parent company
		Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024
Bank accounts				167,343	269,232	2,156	18,375
Cash equivalents
Bank certificates of deposit (CDBs) (1)	CDI	70% to 111%	80% to 111%	1,207,021	1,469,776	34,261	397,446
Overnight (2)	Pre-fixed	14.60% to 14.90%	11.91% to 12.15%	383.423	159,216	98,047	1,437
				1,590,444	1,628,992	132,308	398,883
Total				1,757,787	1,898,224	134,464	417,258

(1) For these CDBs, the Company and its subsidiaries have repo transactions which state, on their trading notes, the bank’s commitment to repurchase the security, on demand, on the maturity date of the transaction, or earlier.

(2) Overnight transactions are repos available for redemption on the following day. They are usually backed by Treasury Bills, Notes or Bonds and referenced to a pre-fixed. Their purpose is to settle the short-term obligations of the Company and its subsidiaries, or to be used in the acquisition of other assets with better return to replenish the portfolio.

The main events that impacted the Company’s total Cash and Cash Equivalents during the first half of 2025 were the debenture issuances by Cemig D and Cemig GT, as well as the investments made by Cemig D and Gasmig.

In March 2025, Cemig GT completed the financial settlement of its 10th debenture issuance, resulting in a cash inflow, net of transaction costs, of R$621,734. In the same month, Cemig D completed the financial settlement of its 12th and 13th debenture issuance, in March and April, respectively, with cash inflow net of transaction costs, totaling BRL 4,343,302.

Conversely, in line with its current investment policy, the Company invested BRL 2,332,673 in electricity and gas distribution infrastructure during the first half of the year, in addition to paying BRL 1,775,716 in dividends and interest on equity.

Note 25 gives: (i) the exposure of the Cemig and its subsidiaries to interest rate risk and (ii) a sensitivity analysis for financial assets and liabilities. Financial investments in a reserved investment fund are shown in note 24.

6. MARKETABLE SECURITIES

	Indexer	Average rate per year		Consolidated		Parent company
		Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024
Current
Bank Deposit Certificates (CDBs)	CDI	102.5% to 102.8%	-	390,602	-	78,889	-
Financial Notes (LFs) - Banks	CDI	103.5% to 110.02%	104.2% to 112%	278,546	279,469	71,229	2,523
Treasury Financial Notes (LFTs)	Selic variation	15.04% to 15.12%	12.41% to 12.45%	546,429	72,422	139,731	654
Others				5,493	6,022	1,507	566
				1,221,070	357,913	291,356	3,743
Non-current
Bank Deposit Certificates (CDBs)	CDI	102.5% to 102.8%	-	882	-	77	-
Financial Notes (LFs) - Banks	CDI	103.5% to 110.02%	104.2% to 112%	55,557	134,606	14,207	1,215
				56,439	134,606	14,284	1,215
Total				1,277,509	492,519	305,640	4,958

35Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The increase in the total amount of Marketable Securities is mainly due to the investment of funds from the financial settlement of Cemig GT’s 10th debenture issuance and Cemig D’s 12th and 13th debenture issuance.

Note 25 provides a classification of these marketable securities. Investments in marketable securities of related parties are shown in Note 24.

The Cemig and its subsidiaries consistently classify the income related to these securities as part of the cash flow of the investment activity, because they believe that this is the most appropriate presentation to properly reflect the activities.

7. RECEIVABLES FROM CUSTOMERS, TRADERS AND CONCESSION HOLDERS

	Consolidated
	Balances not yet due	Up to 90 days past due	More than 91 up to 360 days past due	More than 361 days past due	Jun. 30, 2025	Dec. 31, 2024

Billed supply – energy	1,634,364	692,376	527,938	1,094,106	3,948,784	3,734,657
Billed supply – gas	165,299	35,910	224,803	-	426,012	394,298
Unbilled supply - energy and gas	1,318,835	-	-	-	1,318,835	1,288,438
Unbilled supply - gas	24,365	-	-	-	24,365	24,581
Other concession holders - wholesale supply	26,098	40,084	785	47	67,014	99,663
Other concession holders - wholesale supply, unbilled	350,411	-	-	-	350,411	399,646
CCEE (Power Trading Chamber)	43,974	2,199	-	2,134	48,307	117,340
Concession Holders - power transport	44,768	29,023	25,778	57,302	156,871	213,488
Concession Holders - power transport, unbilled	512,495	-	-	-	512,495	428,369
(-) Provision for expected credit losses (a)	(130,870)	(25,574)	(146,197)	(621,914)	(924,555)	(850,307)
	3,989,739	774,018	633,107	531,675	5,928,539	5,850,173
Current assets					5,651,867	5,596,248
Non-current assets					276,672	253,925

	Parent company
	Balances not yet due	Up to 90 days past due	More than 91 up to 360 days past due	More than 361 days past due	Jun. 30, 2025	Dec. 31, 2024

Billed supply	27,875	5,266	6,923	46,543	86,607	96,839
Unbilled supply	350,780	-	-	-	350,780	412,111
CCEE (Power Trading Chamber)	-	37,914	-	-	37,914	-
(-) Provision for expected credit losses	-	(296)	(4,811)	(45,607)	(50,714)	(50,801)
	378,655	42,884	2,112	936	424,587	458,149
Current assets					421,758	454,286
Non-current assets					2,829	3,863

The expected credit losses are considered to be sufficient to cover any potential losses in the realization of accounts receivable, and the changes in the expected credit losses are as follows:

	Consolidated	Parent company
Balance on December 31, 2024	850,307	50,801
Additions (reversals), net (Note 22c)	53,726	(87)
Reversals written off	20,522	-
Balance on June 30, 2025	924,555	50,714

36Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

8. INCOME AND SOCIAL CONTRIBUTION TAXES

a) Income tax and social contribution tax recoverable

	Consolidated		Parent company
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024

Income tax	530,388	501,102	284,242	249,641
Social contribution tax	134,093	88,529	38,795	(10,539)
Total	664,481	589,631	323,037	239,102
Current	152,812	7,283	-	-
Non-current	511,669	582,348	323,037	239,102

b) Income tax and social contribution tax payable

	Consolidated
	Jun. 30, 2025	Dec. 31, 2024
Current

Income tax	139,191	119,135
Social contribution tax	20,069	43,840
Total	159,260	162,975

c) Deferred income tax and social contribution tax

	Consolidated
	Dec. 31, 2024	Income statement	Comprehensive income	Other	Jun. 30, 2025
Deferred tax assets
Tax loss carryforwards	955,600	(12,311)	-	-	943,289
Provisions	619,254	33,717	-	-	652,971
Impairment on investments	17,013	(420)	-	-	16,593
Income sharing provision	29,933	(2,477)	-	-	27,456
Post-employment obligations	1,465,561	14,159	(3,742)	-	1,475,978
Estimated credit losses	350,420	37,896	-	-	388,316
Onerous concession	11,943	230	-	-	12,173
Right of use	134,728	(17)	-	-	134,711
Others	17,016	(3,069)	-	-	13,947
Total	3,601,468	67,708	(3,742)	-	3,665,434
Deferred tax liabilities
Deemed cost	(147,235)	1,983	-	-	(145,252)
Fair value of assets acquired in business combination	(339,180)	32,646	-	-	(306,534)
Borrowing costs capitalized	(198,757)	(9,185)	-	-	(207,942)
Adjustment to expectation of cash flow - Concession assets	(387,204)	(41,168)	-	-	(428,372)
Adjustment of contract assets	(1,399,690)	69,362	-	-	(1,330,328)
Fair value adjustment of derivative financial instruments	(496)	418	-	-	(78)
Reimbursement of costs - GSF	(183,638)	22,568	-	-	(161,070)
Lease liabilities	(119,617)	1,032	-	-	(118,585)
Others	(35,220)	(1,975)	-	(3,576)	(40,771)
Total	(2,811,037)	75,681	-	(3,576)	(2,738,932)
Total, net	790,431	143,389	(3,742)	(3,576)	926,502
Total Assets shown in the Statements of Financial Position	2,333,721				2,348,044
Total Liabilities shown in the Statements of Financial Position	(1,543,290)				(1,421,542)

37Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

	Parent Company
	Dec. 31, 2024	Income statement	Comprehensive income	Jun. 30, 2025
Deferred tax assets
Tax loss carryforwards	867,070	53,793	-	920,863
Provisions for contingencies	112,708	4,550	-	117,258
Income sharing provision	2,806	(610)	-	2,196
Post-employment obligations	183,715	6,009	386	190,110
Estimated credit losses	17,856	(29)	-	17,827
Right of use	956	(11)	-	945
Others	848	(36)	-	812
Total	1,185,959	63,666	386	1,250,011
Deferred tax liabilities
Fair value of assets acquired in business combination	(95,197)	1,632	-	(93,565)
Lease liabilities	(822)	20	-	(802)
Total	(96,019)	1,652	-	(94,367)
Total, net	1,089,940	65,318	386	1,155,644
Total Assets shown in the Statements of Financial Position	1,089,940			1,155,644

Unrecognized Temporary Differences

As of June 30, 2025, and December 31, 2024, due to the likelihood of generating sufficient future taxable profits, there are no unrecognized deferred tax assets related to tax losses and negative bases.

Uncertainties in the treatment of taxes on income

In its Financial Statements of June 30, 2025, and December 31, 2024, the Company did not recognize any amounts related to uncertainties over Income Tax Treatments recognized in its interim financial statements.

d) Reconciliation of income tax and social contribution tax effective rate

	Consolidated		Parent company
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Income before income tax and social contribution tax	2,591,856	3,652,629	2,160,563	2,884,448
Income tax and social contribution tax - nominal expense (34%)	(881,231)	(1,241,894)	(734,591)	(980,712)
Tax effects applicable to:
Gain in subsidiaries by equity method (net of effects of Interest on Equity)	29,402	32,857	409,014	647,770
Tax incentives	63,952	62,403	-	1,049
Difference between Presumed Income and Real Income	61,691	44,500	-	-
Non-deductible penalties	(44,068)	(5,152)	129	(46)
Interest on equity declared	386,840	277,456	386,840	277,456
Selic rate on tax overpayments	5,448	22,223	3,945	6,199
Other	13,131	(3,545)	(19)	4,217
Income tax and Social Contribution - effective gain (expense)	(364,835)	(811,152)	65,318	(44,067)
Current tax	(508,224)	(409,241)	-	(41,436)
Deferred tax	143,389	(401,911)	65,318	(2,631)
	(364,835)	(811,152)	65,318	(44,067)
Effective rate	14.08%	22.21%	-3.02%	1.53%

38Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

	Consolidated		Parent company
	Apr to Jun/2025	Apro to Jun/2024	Apr to Jun/2025	Apro to Jun/2024
Income before income tax and social contribution tax	1,378,090	2,150,923	1,172,554	1,697,609
Income tax and social contribution tax - nominal expense (34%)	(468,551)	(731,314)	(398,668)	(577,187)
Tax effects applicable to:
Gain in subsidiaries by equity method (net of effects of Interest on Equity)	15,428	1,431	207,635	411,611
Tax incentives	28,470	29,534	-	70
Difference between Presumed Income and Real Income	32,420	16,054	-	-
Non-deductible penalties	(21,347)	18,408	(59)	(18)
Interest on equity declared	202,898	146,101	202,898	146,101
Selic rate on tax overpayments	2,994	19,512	2,067	4,539
Other	17,879	37,937	1,206	5,268
Income tax and Social Contribution - effective gain (expense)	(189,809)	(462,337)	15,079	(9,616)
Current tax	(249,538)	(149,309)	-	(10,930)
Deferred tax	59,729	(313,028)	15,079	1,314
	(189,809)	(462,337)	15,079	(9,616)
Effective rate	13.77%	21.49%	-1.29%	0.57%

39Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

9. CONCESSION FINANCIAL AND SECTOR ASSETS AND LIABILITIES

Consolidated	Jun. 30, 2025	Dec. 31, 2024
Concession financial assets

Energy distribution concessions	3,095,447	2,714,876
Gas distribution concessions	95,152	92,131
Indemnifiable receivable - Generation (9.1)	928,664	870,535
Concession grant fee - Generation concessions (9.2)	3,179,081	3,098,247
	7,298,344	6,775,789
Sector financial assets
Amounts receivable from Parcel A (CVA) and Other Financial Components (9.3)	1,576,345	1,295,625
Total assets	8,874,689	8,071,414
Concession financial liabilities
Amounts receivable from Parcel A (CVA) and Other Financial Components (9.3)	-	(16,470)
Total liabilities	-	(16,470)
Current assets	1,232,360	1,190,020
Non-current assets	7,642,329	6,881,394
Current liabilities	-	(16,470)

The changes in concession financial assets related to infrastructure are as follows:

	Distribution	Generation	Gas	Consolidated
Balance on December 31, 2024	2,714,876	3,968,782	92,131	6,775,789
Transfers of contract assets	301,265	-	-	301,265
Monetary updating	79,821	315,445	3,021	398,287
Amounts received	(515)	(175,239)	-	(175,754)
Classification as held for sale	-	(1,243)	-	(1,243)
Balance on June 30, 2025	3,095,447	4,107,745	95,152	7,298,344

9.1 Generation - Indemnity receivable

The movement in the balance is as follows:

Generation plant	Concession expiration date	Installed capacity (MW) (1)	Net balance of assets on December 31, 2024	Financial Update	Net balance of assets on June 30, 2025
Lot D
UHE Três Marias	July 2015	396.00	225,461	15,056	240,517
UHE Salto Grande	July 2015	102.00	115,666	7,725	123,391
UHE Itutinga	July 2015	52.00	13,629	910	14,539
UHE Camargos	July 2015	46.00	26,492	1,769	28,261
PCH Piau	July 2015	18.01	5,911	395	6,306
PCH Gafanhoto	July 2015	14.00	7,088	473	7,561
PCH Peti	July 2015	9.40	8,181	546	8,727
PCH Dona Rita	Sep. 2013	2.41	2,120	141	2,261
PCH Tronqueiras	July 2015	8.50	11,169	683	11,852
PCH Joasal	July 2015	8.40	8,469	565	9,034
PCH Martins	July 2015	7.70	6,013	401	6,414
PCH Cajuru	July 2015	7.20	25,480	1,701	27,181
PCH Paciência	July 2015	4.08	5,601	374	5,975
PCH Marmelos	July 2015	4.00	3,254	218	3,472
Others
UHE Volta Grande	Feb. 2017	380.00	488	32	520
UHE Miranda	Dec. 2016	408.00	122,740	8,197	130,937
UHE Jaguara	Aug. 2013	424.00	186,303	12,503	198,806
UHE São Simão	Jan. 2015	1,710.00	96,470	6,440	102,910
		3,601.70	870,535	58,129	928,664

(1) Data not reviwed by external auditors.

40Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

9.2 Concession grant fee - Generation concessions

The changes in concession financial assets are as follows:

Consolidated Plants Dec. 31, 2024 Interest Amounts received Classification as held for sale Jun. 30, 2025

Cemig Geração e Transmissão S.A.	Três Marias	1,771,968	139,343	(94,156)	-	1,817,155
Cemig Geração e Transmissão S.A.	Salto Grande	556,444	43,922	(29,693)	-	570,673
Cemig Geração Itutinga S.A.	Itutinga	211,141	18,386	(12,624)	-	216,903
Cemig Geração Camargos S.A.	Camargos	158,222	13,700	(9,398)	-	162,524
Cemig Geração Sul S.A.	Coronel Domiciano, Joasal, Marmelos, Paciência e Piau	186,386	19,079	(13,223)	(614)	191,628
Cemig Geração Leste S.A.	Dona Rita, Ervália, Neblina, Peti, Sinceridade e Tronqueiras	142,332	14,243	(10,041)	(130)	146,404
Cemig Geração Oeste S.A.	Cajurú, Gafanhoto e Martins	71,754	8,643	(6,104)	(499)	73,794
Total		3,098,247	257,316	(175,239)	(1,243)	3,179,081

41Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

9.3 Account for compensation of variation of parcel A items (CVA) and Other financial components

	Dec. 31, 2024	Additions	Amortization	Update	Transfer	Jun. 30, 2025	Amortization	Constitution	Current	Non-current
Sectoral financial assets

Active CVA	140,938	684,878	(773,052)	115,243	265,552	433,559	332,914	100,645	293,041	140,518
Energy aquisition (CVA energy)	320,591	563,641	(472,635)	86,584	(40,849)	457,332	244,641	212,691	214,726	242,606
Itaipu energy costs	(78,453)	-	-	-	(41,614)	(120,067)	(96,889)	(23,178)	(98,949)	(21,118)
Program of Incentives for Alternative Electricity Sources – PROINFA	6,293	24,204	(2,651)	1,357	(707)	28,496	28,496	-	28,496	-
Transport basic charges	249,572	18,927	(184,213)	18,221	151,693	254,200	217,138	37,062	220,433	33,767
Transport of Itaipu supply	(4,001)	-	(31,397)	773	17,882	(16,743)	(9,676)	(7,067)	(10,304)	(6,439)
System service charges – ESS	(221,511)	78,106	(72,703)	8,080	182,051	(25,977)	84,810	(110,787)	74,963	(100,940)
CDE	(131,553)	-	(9,453)	228	(2,904)	(143,682)	(135,606)	(8,076)	(136,324)	(7,358)
Other sectoral financial assets	1,154,687	285,744	(465,514)	116,888	50,981	1,142,786	(240,968)	1,383,754	595,039	547,747
Quotas from nuclear energy	89,457	33,476	(56,115)	7,374	50,235	124,427	103,246	21,181	105,129	19,298
Neutrality of Parcel A	89,865	207,731	(80,963)	7,995	59,851	284,479	216,905	67,574	222,912	61,567
Estimated neutrality on distributed generation credits	692,843	48,110	-	74,364	-	815,317	-	815,317	815,317	-
Energy overcontracting	407,148	(23,786)	(317,880)	6,433	304,071	375,986	151,886	224,100	171,806	204,180
Tariff refunds	(71,675)	-	-	-	(47,419)	(119,094)	(99,991)	(19,103)	(103,184)	(15,910)
Other	(52,951)	20,213	(10,556)	20,722	(315,757)	(338,329)	(613,014)	274,685	(616,941)	278,612
Total sectorial financial assets	1,295,625	970,622	(1,238,566)	232,131	316,533	1,576,345	91,946	1,484,399	888,080	688,265
Sectoral financial liabilities
Passive CVA	(138,939)	(354,935)	855,021	(95,595)	(265,552)
Energy aquisition (CVA energy)	(326,512)	(397,753)	757,974	(74,558)	40,849	-	-	-	-	-
Itaipu energy costs	(73,023)	(38,773)	78,250	(8,068)	41,614	-	-	-	-	-
Program of Incentives for Alternative Electricity Sources – Proinfa	(9,431)	-	8,929	(205)	707	-	-	-	-	-
Transport basic charges	155,288	-	(3,595)	-	(151,693)	-	-	-	-	-
Transport of Itaipu supply	33,716	(16,571)	1,398	(661)	(17,882)	-	-	-	-	-
System service charges – ESS	71,327	113,483	-	(2,759)	(182,051)	-	-	-	-	-
CDE	9,696	(15,321)	12,065	(9,344)	2,904	-	-	-	-	-
Other sectoral financial liabilities	122,469	(414,791)	379,363	(31,051)	(55,990)	-	-	-	-	-
Share of nuclear energy	49,012	-	1,223	-	(50,235)	-	-	-	-	-
Neutrality of Parcel A	34,049	(976)	27,196	(418)	(59,851)	-	-	-	-	-
Energy over contracting	304,071	-	-	-	(304,071)	-	-	-	-	-
Tariff refunds	(31,223)	(64,813)	51,220	(2,603)	47,419	-	-	-	-	-
Other	(233,440)	(349,002)	299,724	(28,030)	310,748	-	-	-	-	-
Total sectoral financial liabilities	(16,470)	(769,726)	1,234,384	(126,646)	(321,542)	-	-	-	-	-
Total sectoral financial assets and liabilities (net)	1,279,155	200,896	(4,182)	105,485	(5,009)	1,576,345	91,946	1,484,399	888,080	688,265

42Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Annual Tariff Adjustment

On May 20, 2025, ANEEL approved the results of Cemig D’s Annual Tariff Adjustment, effective until May 27, 2026. The average impact on consumers was 7.78%, with an average increase of 9.45% for consumers connected to High Voltage and 7.03% for those connected to Low Voltage. For residential consumers connected to Low Voltage, the average adjustment was 6.86%.

Voltage Level	Average Effect on the Consumer
High and Medium Voltage – Group A	9.45%
Low Voltage – Group B	7.03%
Average Adjustment	7.78%

This result stems from the adjustment of cost components in Parcel A and Parcel B, calculated in accordance with PRORET (Tariff Regulation Procedures), for the determination of the Required Revenue; the inclusion of financial components calculated in the current tariff adjustment to be offset over the following 12 months; and the removal of financial components established in the previous tariff process, which remained in effect until the date of the current adjustment.

In the composition of the average effect, the variation in Parcel A costs contributed 6.12%, the update of Parcel B accounted for 1.36%, reflecting, among other factors, the accumulated IPCA variation of 5.53% from May 2024 to April 2025, and the financial components were responsible for the remaining 0.3%.

10. CONCESSION CONTRACT ASSETS

Consolidated Jun. 30, 2025 Dec. 31, 2024

Distribution - Infrastructure assets under construction	5.319.827	4,421,329
Gas - Infrastructure assets under construction	725.346	553,770
Transmission - National Grid (‘BNES’ - Basic Network of the Existing System) - Law 12,783/13	1.276.455	1,616,179
Transmission - Assets remunerated by tariff	5.032.043	4,875,636
Total	12.353.671	11,466,914
Current	1.109.923	1,140,037
Non-current	11.243.748	10,326,877

Changes in concession contract assets are as follows:

	Transmission	Distribution	Gas	Consolidated
Balance on December 31, 2024	6,491,815	4,421,329	553,770	11,466,914

Additions (1)	245.474	2.212.700	192.114	2.650.288
Monetary updating	203.848	-	-	203.848
Realization	(414.446)	-	-	(414.446)
RBSE Revaluation RBSE (2)	(219.168)	-	-	(219.168)
Other additions	975	-	-	975
Transfers of financial assets	-	(301.265)	-	(301.265)
Transfers to intangible assets	-	(1.012.937)	(20.538)	(1.033.475)
Balance on June 30, 2025	6.308.498	5.319.827	725.346	12.353.671

(1) Additions in the distribution segment reflect investments made by Cemig D, in line with the Distribution Development Plan (PDD). The PDD involves the execution of projects linked to the electric power system, associated with the expansion, reinforcement, refurbishment, and renewal of Cemig D’s assets. In the first half of 2025, highlights included investments in major urban, rural, and complementary service projects totaling BRL 751,695; reinforcement and refurbishment of medium- and low-voltage networks, as well as operation and maintenance, totaling BRL 374,810; and expansion and reinforcement of high-voltage infrastructure, totaling BRL 610,663. Additions in the gas segment reflect investments made by Gasmig, in line with the Centro-Oeste Project, which includes the planned construction of an additional 300 km of gas pipelines, scheduled for completion in the second half of 2026.

(2) In Note 22c, this amount is presented net of PIS/Pasep and Cofins.

43Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Distribution Segment

The amount of additions in the period from January to June 2025 includes R$72,141 (R$35,260 in the first half of 2024) As capitalized financial charges, as presented in note 17. The average rate used to determine the amount of borrowing costs eligible for capitalization was 13.83%. The nature of additions to contract assets and intangible assets is presented in Note 22b.

The capitalization of financial charges is a non-cash transaction, and therefore is not reflected in the Cash Flow Statements.

Transmission Segment

Basic Network of the Existing System (RBSE)

On June 10, 2025, ANEEL published Resolution No. 3,469, which amended the Allowed Annual Revenue (RAP) related to the financial component of the Basic Network of the Existing System (RBSE) assets, previously approved by Resolution No. 2,852/2021.

The main change involved the application base of the cost of equity used to calculate the component, with the amortization phase being split into two cash flows: one referred to as 'non-contentious' (payments not suspended by injunctions) and the other as 'contentious' (payments suspended by injunctions), with effective payment dates starting on July 1, 2017, and July 1, 2020, respectively, each with a duration of eight years.

As a result, the remuneration based on the cost of equity was applied exclusively to the contentious flow, for the period from 2017 to 2020 (the year of effective payment).

The RAPs approved and processed up to the 2024/2025 cycle were considered finalized, and the residual amounts were accommodated in the remaining payments for the 2025/2026 to 2027/2028 cycles, in uniform flows.

Due to the changes introduced by the resolution, the Company remeasured the RBSE contractual asset and recorded a reduction of BRL 219,168 as of June 30, 2025.

44Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

11. INVESTMENTS

Investees	Consolidated		Parent company
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024
Jointly controlled
Taesa	1,757,572	1,615,340	1,757,572	1,615,340
Guanhães Energia	178,172	172,300	-	-
Cachoeirão	46,991	44,893	-	-
Pipoca	48,220	54,041	-	-
Aliança Norte (1)	382,555	419,414	-	-
Amazônia Energia (1)	635,782	696,686	-	-
Paracambi	104,046	105,013	-	-
UFVs (2)	121,953	113,333	-	-
Subsidiary
Cemig Geração e Transmissão	-	-	10,642,254	11,734,032
Cemig Distribuição	-	-	12,124,096	11,281,256
Gasmig	-	-	1,667,702	1,581,321
Cemig Sim	-	-	947,857	754,515
Sete Lagoas	-	-	87,623	87,605
	3,275,291	3,221,020	27,227,104	27,054,069

(1) Indirect interest in the Belo Monte plant through these investees.

(2) Set of photovoltaics bussiness, in which the investee Cemig Sim has a interest.

For the period ended on June 30, 2025, management evaluates if of potential decline in value of assets, as referred to in CPC 01/ IAS 36 - Impairments of Assets. It was found that there are no indications of a loss in the recoverable value.

a) Movement of the right to exploitation of the regulated activity

Consolidated
Investidas	Dec. 31, 2024	Amortization	Jun. 30, 2025
Cemig Geração e Transmissão
Paracambi	68,985	(1,250)	67,735
Taesa	123,499	(4,660)	118,839
Cemig Sim - UFVs	6,029	(168)	5,861
Total	198,513	(6,078)	192,435

Parent Company
Investees	Dec. 31, 2024	Amortization	Jun. 30, 2025
Paracambi	68,985	(1,250)	67,735
Taesa	123,499	(4,660)	118,839
Gasmig	355,458	(6,329)	349,129
Sete Lagoas	(3,774)	122	(3,652)
Total	544,168	(12,117)	532,051

45Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

b) Changes in investments in subsidiaries and jointly controlled entities

	Consolidated
Investees		Dec. 31, 2024	Gain (loss) by equity method (Statement of income)	Dividends / Interest on equity	Additions	Jun. 30, 2025
Hidrelétrica Cachoeirão		44,893	3,428	(1,330)	-	46,991
Guanhães Energia		172,300	10,571	(4,699)	-	178,172
Hidrelétrica Pipoca		54,041	3,940	(9,761)	-	48,220
Paracambi		105,013	8,098	(9,065)	-	104,046
Amazônia Energia (1)		696,686	(61,217)	-	313	635,782
Aliança Norte (1)		419,414	(37,139)	-	280	382,555
Taesa		1,615,340	183,042	(40,810)	-	1,757,572
UFV Janaúba		4,469	817	(194)	-	5,092
UFV Corinto		9,146	884	-	-	10,030
UFV Manga		11,461	920	-	-	12,381
UFV Bonfinópolis II		6,423	512	-	-	6,935
UFV Lagoa Grande		14,877	1,130	-	-	16,007
UFV Lontra		17,766	1,019	-	-	18,785
UFV Mato Verde		6,390	514	-	-	6,904
UFV Mirabela		4,280	373	-	-	4,653
UFV Porteirinha I		5,251	450	-	-	5,701
UFV Porteirinha II		6,901	504	-	-	7,405
UFV Brasilândia		14,905	1,119	-	-	16,024
UFV Apolo I		5,597	271	-	-	5,868
UFV Apolo II		5,867	301	-	-	6,168
Total Investiment		3,221,020	119,537	(65,859)	593	3,275,291

(1) Indirect interest in the Belo Monte plant through these investees.

Parent Company
Investees	Dec. 31, 2024	Gain (loss) by equity method (Statement of income)	Dividends / Interest on equity	Additions	Others	Jun. 30, 2025
Cemig Geração e Transmissão	11,734,032	882,146	2,501	(1,976,425)	-	10,642,254
Cemig Distribuição	11,281,256	861,712	5,511	(24,383)	-	12,124,096
Gasmig	1,581,321	257,735	-	(171,354)	-	1,667,702
Cemig Sim	754,515	23,197	-	(6,855)	177,000	947,857
Sete Lagoas	87,605	3,535	-	(3,517)	-	87,623
Taesa	1,615,340	183,041	-	(40,809)	-	1,757,572
Total	27,054,069	2,211,366	8,012	(2,223,343)	177,000	27,227,104

Changes in dividends receivable are as follows

	Consolidated	Parent Company
Balance on December 31, 2024	111,367	2,088,913

Investees’ dividends proposed	65,859	2,223,343
Withholding tax on interest on equity declared by investees	(6,121)	(151,978)
Amounts received	(107,723)	(1,967,599)
Balance on June 30, 2025	63,382	2,192,679

46Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

12. PROPERTY, PLANT AND EQUIPMENT

Consolidated	Jun. 30, 2025			Dec. 31, 2024
	Historical cost	Accumulated depreciation	Net value	Historical cost	Accumulated depreciation	Net value
In service

Land	249,147	(37,223)	211,924	249,221	(35,570)	213,651
Reservoirs, dams and watercourses	3,344,633	(2,557,107)	787,526	3,339,053	(2,519,660)	819,393
Buildings, works and improvements	1,099,285	(893,597)	205,688	1,095,305	(883,276)	212,029
Machinery and equipment	2,972,819	(2,180,730)	792,089	2,950,542	(2,143,232)	807,310
Vehicles	17,483	(13,474)	4,009	20,128	(15,563)	4,565
Furniture	13,756	(12,081)	1,675	13,662	(11,951)	1,711
	7,697,123	(5,694,212)	2,002,911	7,667,911	(5,609,252)	2,058,659
In progress	1,907,173	-	1,907,173	1,656,446	-	1,656,446
	9,604,296	(5,694,212)	3,910,084	9,324,357	(5,609,252)	3,715,105

Changes in PP&E are as follows:

Consolidated	Dec. 31, 2024	Additions	Settled	Depreciation	Transfers (2)	Jun. 30, 2025
In service

Land (1)	213,651	-	(12)	(1,715)	-	211,924
Reservoirs, dams and watercourses	819,393	-	-	(37,448)	5,581	787,526
Buildings, works and improvements	212,029	-	-	(10,321)	3,980	205,688
Machinery and equipment	807,310	-	(2,519)	(35,752)	23,050	792,089
Vehicles	4,565	-	(56)	(500)	-	4,009
Furniture and utensils	1,711	-	-	(145)	109	1,675
	2,058,659	-	(2,587)	(85,881)	32,720	2,002,911
In progress	1,656,446	307,229	(23,782)	-	(32,720)	1,907,173
	3,715,105	307,229	(26,369)	(85,881)	-	3,910,084

(1) Certain land linked to concession agreements with no indemnity provision is amortized over the concession period.

(2) Balance related to the transfer of assets from construction in progress to in-service.

13. INTANGIBLE ASSETS

Consolidated	Jun. 30, 2025			Dec. 31, 2024
	Historical cost	Accumulated amortization	Residual value	Historical cost	Accumulated amortization	Residual value
In service

Useful life defined
Temporary easements	14,689	(7,296)	7,393	14,689	(6,933)	7,756
Onerous concession	13,599	(10,627)	2,972	13,599	(10,345)	3,254
Assets of concession	28,499,774	(12,191,533)	16,308,241	27,593,554	(11,765,667)	15,827,887
Assets of concession - GSF	1,030,791	(534,357)	496,434	1,030,791	(467,401)	563,390
Others	176,615	(96,637)	79,978	173,982	(90,659)	83,323
	29,735,468	(12,840,450)	16,895,018	28,826,615	(12,341,005)	16,485,610
In progress	352,286	-	352,286	320,290	-	320,290
	30,087,754	(12,840,450)	17,247,304	29,146,905	(12,341,005)	16,805,900

Changes in intangible assets are as follow:

Consolidated	Dec. 31, 2024	Additions	Settled	Amortization	Transfers (1)	Jun. 30, 2025
In service
Useful life defined

Temporary easements	7,756	-	-	(363)	-	7,393
Onerous concession	3,254	-	-	(282)	-	2,972
Assets of concession	15,827,887	737	(48,430)	(540,528)	1,068,575	16,308,241
Assets of concession - GSF	563,390	-	-	(66,956)	-	496,434
Others	83,323	-	-	(6,017)	2,672	79,978
	16,485,610	737	(48,430)	(614,146)	1,071,247	16,895,018
In progress	320,290	69,768	-	-	(37,772)	352,286
Net intangible assets	16,805,900	70,505	(48,430)	(614,146)	1,033,475	17,247,304

(1) Transfers were made from contract assets to intangible assets in the amount of R$1,012,937 in the period from January to June 2025 (R$995,496 in the period from January to June 2024).

47Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

14. LEASING

a) Changes in the right of use assets

Consolidated	Real estate property	Vehicles	Total
Balances on December 31, 2024	263,463	123,707	387,170

Amortization (1)	(8,828)	(23,850)	(32,678)
Disposals (contracts terminated)	(1,455)	-	(1,455)
Addition	4,523	22,671	27,194
Remeasurement (2)	978	86	1,064
Balances on June 30, 2025	258,681	122,614	381,295

(1) Amortization of the Right of Use recognized in the Statement of income is net of use of the credits of PIS/Pasep and Cofins taxes on payments of rentals, a total R$465 in the period from January to June of 2025 (R$399 in the same period of 2024). The weighted average annual amortization rate is 6.62% for Real estate and 39.99% for Vehicles.

(2) The Company and its subsidiaries have identified events giving rise to revaluation and modifications of their principal contracts. The lease liability is being remeasured with a corresponding adjustment to the right-of-use asset.

b) Changes in leasing liabilities

Consolidated Balances on December 31, 2023 429,200

Addition	27,194
Interest incurred (1)	12,740
Leasing paid	(40,154)
Interest in leasing contracts paid	(2,914)
Disposals (contracts terminated)	(838)
Remeasurement (2)	1,064
Balances on June 30, 2025	426,292
Current liabilities	86,030
Non-current liabilities	340,262

(1) Financial expenses recognized in the Statement of income are net of incorporation of the credits for PIS/Pasep and Cofins taxes on payments of rentals, in the amounts of R$556 in first half of 2025 (R$778 in first half of 2024).

(2) The Company and its subsidiaries identified events that give rise to restatement and modifications of their principal contracts; the leasing liability was remeasured with an adjustment to the asset of Right of Use.

Additions and settled in leases are non-cash transactions, and therefore are not reflected in the Statements of Cash Flows.

The potential right to recovery of PIS/Pasep and Cofins taxes embedded in the leasing consideration, according to the periods specified for payment, is as follows:

Cash flow	Consolidated		Parent Company
	Nominal	Adjusted to present value	Nominal	Adjusted to present value
Consideration for the leasing	649,349	426,292	4,932	2,779
Potential PIS/Pasep and Cofins (9.25%)	34,944	20,311	456	257

48Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The cash flows of the leasing contracts are, in their majority, updated by the IPCA inflation index annually. Below is an analysis of maturity of lease contracts:

Consolidated (nominal)

2025	44.724
2026	89.147
2027	71.566
2028	35.192
2029	31.243
2030 to 2048	377.477
Undiscounted values	649.349
Embedded interest	(223.057)
Lease liabilities	426.292

15. SUPPLIERS

	Consolidated		Parent company
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024

Energy purchased for resale	1,243,004	1,175,532	345,874	345,444
Energy on spot market - CCEE	342,773	198,621	19,882	-
Charges for use of energy network	250,669	239,751	95	95
Itaipu Binacional	216,086	210,488	-	-
Gas purchased for resale	187,644	215,596	-	-
Materials and services (1)	840,134	911,583	4,353	8,638
Total	3,080,310	2,951,571	370,204	354,177

(1) The variation is primarily associated with the increase in the PLD (Settlement Price for the Difference Market) in the Southeast/Central-West submarket, which was not offset by the PLD in the Northeast and North submarkets, as these remained at their minimum value for most of the period. Additionally, the unfavorable hydrological conditions observed in the second quarter of 2025 resulted in a low MRE (Energy Reallocation Mechanism) performance, leading to higher pass-through amounts related to Hydrological Risk.

(2) Includes the balance of R$13,693 related to drawn risk operations, on June 30, 2025.

The exposure of the Company and its subsidiaries to exchange rate and liquidity risks related to suppliers is disclosed in note 25.

16. TAXES PAYABLE AND AMOUNTS TO BE REFUNDED TO CUSTOMERS

	Consolidated		Parent company
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024
Current

ICMS	154,155	145,575	21,532	18,401
Cofins (1)	282,474	278,283	45,685	47,039
PIS/Pasep (1)	61,323	60,835	9,864	10,330
INSS	57,850	59,200	2,636	2,732
Other (2)	193,569	180,628	57,605	54,644
	749,371	724,521	137,322	133,146
Non-current
Cofins (1)	400,846	407,721	-	-
PIS/Pasep (1)	87,039	88,532	-	-
	487,885	496,253	-	-
	1,237,256	1,220,774	137,322	133,146
Amounts to be refunded to customers
Current
PIS/Pasep and Cofins	30,710	185,699	-	-
ICMS	340,800	340,800	-	-
	371,510	526,499
Non-current			-
PIS/Pasep and Cofins	158,531	166,089		-
	158,531	166,089	-	-
	530,041	692,588

(1) Include the deferral on the financial remuneration of the contract asset and on the construction and improvement revenues linked to the transmission contracts.

(2) This includes the retention, at source, of income tax on the Interest on Equity declared. This tax was paid in the subsequent month, in accordance with the tax legislation. More details in note 20.

49Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The amounts of PIS/Pasep and Cofins to be refunded to consumers regarding the credits to be used by Cemig D and Gasmig due to the exclusion of ICMS from the calculation basis of these contributions represent the amounts of R$55,394 (R$208,578 on December 31, 2024) and R$133,847 (R$143,210 on December 31, 2024), respectively. The criteria for refunding Gasmig's PIS/Pasep and Cofins credits to consumers will still be the subject of discussions with the Minas Gerais Development Secretariat.

Movement of amounts to be refunded to consumers

Consolidated Balances on December 31, 2024 692,588

Consumers refunds (1)	(177,892)
Financial adjustments - Selic	7,036
Other	8,309
Balances on June 30, 2025	530,041

(1) This refers to a refund through the effective tax rate, related to tax credits recognized by the Company, in accordance with the provisions of Law No. 14,385/2022.

17. DEBENTURES

Financing source	Principal maturity	Annual financial cost %	Currency	Consolidated
				Jun. 30, 2025			Dec. 31, 2024
				Current	Non-current	Total	Total
Cemig Distribuição

Debentures - 3th Issue - 3rd Series	2025	IPCA + 5.10%	R$	-	-	-	334,188
Debentures – 7th Issue – 2nd Series	2026	IPCA + 4.10%	R$	1,053,659	-	1,053,659	2,048,454
Debentures - 8th Issue – 1st Series	2027	CDI + 1.35%	R$	2,714	500,000	502,714	502,548
Debentures – 8th Issue – 2nd Series	2029	IPCA + 6.1052%	R$	1,339	572,048	573,387	557,412
Debentures – 9th Issue – Single serie	2026	CDI + 2.05%	R$	1,019,555	-	1,019,555	2,030,078
Debentures – 10th Issue – 1st Series	2029	CDI + 0.80%	R$	20,297	400,000	420,297	417,151
Debentures – 10th Issue – 2nd Series	2034	IPCA + 6.1469%	R$	36,348	1,707,123	1,743,471	1,696,909
Debentures – 11th Issue – 1nd Series	2031	CDI + 0.55%	R$	40,191	1,000,000	1,040,191	1,028,493
Debentures – 11th Issue – 2nd Series	2036	IPCA + 6.5769%	R$	28,468	1,572,110	1,600,578	1,552,871
Debentures – 12th Issue – 1nd Series	2032	CDI + 0.86%	R$	66,498	1,640,000	1,706,498	-
Debentures – 12th Issue – 2nd Series	2040	IPCA + 7.5467%	R$	17,825	873,138	890,963	-
Debentures – 13th Issue – 1nd Series	2030	CDI+0,64%	R$	33,987	1,143,000	1,176,987	-
Debentures – 13th Issue – 2nd Series	2032	CDI+0,80%	R$	22,615	752,000	774,615	-
Gasmig
Debentures – 8th Issue – Single serie	2031	IPCA + 5.27%	R$	148,506	906,766	1,055,272	1,025,100
Debentures – 9th Issue – Single serie	2029	IPCA + 0.47%	R$	1,023	200,000	201,023	200,190
Cemig Geração e Transmissão
Debentures - 9th Issue – 1st Series	2027	CDI + 1.33%	R$	237,128	466,666	703,794	703,560
Debentures - 9th Issue – 2nd Series	2029	IPCA + 7.6245%	R$	896	340,875	341,771	332,268
Debentures – 10th Issue – Single serie	2030	CDI + 0.64%	R$	24,948	625,000	649,948	-
(-) Discount on the issuance of debentures (1)				(1,722)	(1,936)	(3,658)	(5,326)
(-) Transaction costs				(7,047)	(180,081)	(187,128)	(144,596)
Total debentures				2,747,228	12,516,709	15,263,937	12,279,300

(1) Discount on the sale price of the 2nd series of the Seventh issue of Cemig Distribuição.

The debentures issued by the subsidiaries are non-convertible. There are no agreements for renegotiation, nor debentures held in treasury.

50Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

a) Debentures issues

Cemig GT - Debenture issue – 10th issue

On February 21, 2025, Cemig GT announced to the market the start of the public offering of 500,000 simple debentures, not convertible into shares, of the unsecured type, with an additional fiduciary guarantee, granted by Cemig, characterized as 'Green Bonds', issued in a single series as part of the 10th debenture issuance, with a unit par value of one thousand reais, totaling an initial amount of R$500,000, with the possibility of a 25% increase if the Additional Lot option were exercised. The transaction was carried out pursuant to CVM Resolutions.

On March 18, 2025, Cemig GT concluded the financial settlement of the 10th issue of simple debentures, which have a guarantee granted by Cemig. 625,000 debentures were issued, Totaling R$625,000, subscribed as follows:

Series	Quantity	Amount	Remuneration	Maturity	Amortization
Single	625,000	R$625,000	CDI + 0.64% p.y.	1,826 days	48th and 60th months

The proceeds raised by Cemig GT through the issuance of debentures will be allocated to cash flow management, including—but not limited to—its operations and the reimbursement of investments previously made by the company, in accordance with the Framework.

Financing source	Entry Date	Principal maturity	Annual financial cost	Value
BRAZILIAN CURRENCY
Debentures – 10th Issue – Single Serie	March 18, 2025	2030	CDI + 0.64%	625,000
(-) Transaction costs				(3,266)
Total				621,734

We note, additionally, that Fitch Ratings allocates a credit risk of AAA+(bra) to this Issues.

Cemig D - Debenture issue – 12th issue

On February 21, 2025, Cemig D announced to the market the start of the public offering of two million simple debentures, not convertible into shares, of the unsecured type, with an additional fiduciary guarantee, in two series, of the 12th issue of debentures, with a nominal unit value of one thousand reais, totaling two billion reais, to be carried out under the terms of CVM regulations.

On March 18, 2025, Cemig D concluded the financial settlement of the 12th issue of debentures, in two series. Two million five hundred thousand debentures were issued, for a total of 2.5 billion reais, subscribed as follows:

Series	Quantity	Amount	Remuneration	Maturity	Amortization
Second Series	1,640,000	R$1,640,000	CDI + 0.86% p.y.	2,557 days	72th and 84th months
Second Series	860,000	R$860,000	IPCA + 7.5467% p.y.	5,479 days	156th, 168th and 150th months

51Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The funds obtained by Cemig D from this issue will be used to manage its cash flow, including, but not limited to, its operations and the reimbursement of investments, costs and expenses it has made, in alignment with the Framework, for the purpose of qualifying the debentures as 'Green Bonds'.

Financing source	Entry Date	Principal maturity	Annual financial cost %	Value
BRAZILIAN CURRENCY
Debentures – 12th Issue – 1st Series	March, 2025	2032	CDI + 0.86%	1,640,000
Debentures – 12th Issue – 2nd Series	March, 2025	2040	IPCA + 7.5467%	860,000
(-) Transaction costs				(45,368)
Total				2,454,632

We note, additionally, that Fitch Ratings allocates a credit risk of AAA+(bra) to this Issues.

13th issue of debentures - Cemig D

On April 2, 2025, Cemig D announced to the market the start of the public offering of 1,500,000 simple debentures, not convertible into shares, of the unsecured type, with an additional fiduciary guarantee, in two series, of the 13th issue of debentures, with a nominal unit value of one thousand reais, totaling 1.5 billion reais, with the possibility of this amount being increased by up to 33.3334% in the event the Over-Allotment Option is exercised. The transaction was carried out in accordance with CVM Resolutions.

On April 11, 2025, Cemig D concluded the financial settlement of the 13th issue of debentures, in two series. 1,895 thousand debentures were issued, for a total of 1.895 billion reais, subscribed as follows:

Serie	Quantity	Value in million	Rare	Deadline	Amortization
1st	1,143,000	R$1,143,000	CDI + 0.64% p.a.	1,831 days	48nd and 60th meses
2nd	752,000	R$752,000	IPCA + 0.80% p.a.	2,562 days	72th and 84th meses

The funds obtained by Cemig D from this issue will be used to manage its cash flow, including, but not limited to, its operations and the reimbursement of investments, costs and expenses it has made.

Financing source	Entry Date	Principal maturity	Annual financial cost %	Value
BRAZILIAN CURRENCY
Debentures – 13th Issue – 1st Series	April 2025	2030	CDI + 0.64%	1,143,000
Debentures – 13th Issue – 2nd Series	April 2025	2032	CDI + 0.80%	752,000
(-) Transaction costs				(6,330)
Total				1,888,670

Finally, it is reported that the credit rating agency Fitch Ratings assigned a AAA (bra) rating to the issuance.

52Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Guarantees

The guarantees of the debt Balance at loans and financing, on June 30, 2025, were as follows:

Jun. 30, 2025

Promissory notes and Sureties	1,049,179
Sureties	12,972,959
Without guarantee	1,241,799
Total	15,263,937

Composition and consolidated changes on debentures

The Company's debt has an average repayment period of 6 years. The consolidated breakdown of debentures, by index, considering their maturities, is as follows:

Consolidated	2025	2026	2027	2028	2029	2030 onwards	Total
Index

IPCA (1)	234,893	1,188,504	143,174	436,015	783,708	4,472,807	7,259,101
CDI (2)	468,956	1,233,333	800,000	300,000	1,117,333	4,276,000	8,195,622
Total by index	703,849	2,421,837	943,174	736,015	1,901,041	8,748,807	15,454,723
(-) Transaction costs	(3,162)	(7,328)	(3,118)	(9,535)	(14,176)	(149,809)	(187,128)
(-) Discount	(1,722)	(1,722)	-	-	(107)	(107)	(3,658)
Total	698,965	2,412,787	940,056	726,480	1,886,758	8,598,891	15,263,937

(1) Expanded National Customer Price (IPCA) Index;

(2) CDI: Interbank Rate for Certificates of Deposit;

The indexers used for monetary updating of debentures had the following variations:

Indexer	Accumulated change in second half of 2025 (%)	Accumulated change in second half of 2024 (%)	Accumulated change in second half of 2025 (%)	Accumulated change in second half of 2024 (%)
IPCA	2.99	2.48	0.93	1.05
CDI	6.36	5.22	3.33	2.53

53Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The changes in debentures are as follows:

Consolidated

Balance on December 31, 2024	12,279,300
Debenture Issuance	5,020,000
Transaction costs	(54,964)
Net Proceeds from Debenture Issuance	4,965,036
Monetary variation	186,855
Exchange variation	715,579
Amortization of transaction cost	12,431
Financial charges paid	(526,396)
Amortization of financing	(2,368,868)
Balance on June 30, 2025	15,263,937

Borrowing costs, capitalized

The subsidiaries Cemig D and Gasmig considered the costs of debentures linked to construction in progress as construction costs of intangible and concession contract assets, as follows:

	Jan to Jun/2025	Jan to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
Costs of debentures	715,579	494,658	420,486	258,718
Financing costs on intangible assets and contract assets (1)	(72,141)	(35,260)	(37,155)	(17,989)
Net effect in income or loss	643,438	459,398	383,331	240,729

(1) The average capitalization rate was 13.83% in the period from January to June 2025 (11.26% in the period from the first half of 2024).

The amounts of the capitalized borrowing costs have been excluded from the statement of cash flows, in addition to cash flow of investment activities, as they do not represent an outflow of cash for acquisition of the related asset.

Restrictive covenants

There are early maturity clauses for cross-default in the event of non-payment by Cemig GT or by the Company, of any pecuniary obligation with individual or aggregate value greater than R$50 million (“cross default”).

54Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The Company and its subsidiaries have contracts with financial covenants as follows:

Title - Security	Covenant	Ratio required - Issuer	Ratio required Cemig (guarantor)	Compliance required
7th and 8th Debentures Issue Cemig D	Net debt / Ebitda adjusted (1)	Less than 3.5	Less than 3.0	Semi-annual and annual
8th Debentures Issue Gasmig Single series (2)	EBITDA/Debt servicing Net debt/EBITDA	1.3 or more 3.0 or less	-	Annual Annual
9th Debenture Issue CEMIG GT 1st and 2nd Series (3)	Net debt / Adjusted Ebitda (1)	Equal to or less than: 3.5	3.0 from Dec. 31st, 2022, to Jun. 30th, 2026, and, 3.5 from Dec. 31st, 2026, onwards	Semi-annual and annual
9th Debentures Issue Cemig D	Net debt/EBITDA	Equal to or less than: 3.5 on/after Jun. 30, 2023	Equal to or less than: 3.5 on/after Jun. 30, 2023	Semi-annual and annual
10th Debentures Issue Cemig D	Net debt/EBITDA	Equal to or less than: 3.5 from Jun. 30st, 2024 to Jun. 30th, 2029 4.0 from Jun. 30st, 2029 onwards	Equal to or less than: 3.0 by Jun. 30th, 2026 3.5 from Jul. 1st, 2026, to Jun. 30th, 2029 4.0 from Jun. 30st, 2029 onwards	Semi-annual and annual
11th Debentures Issue Cemig D	Net debt/EBITDA	Equal to or less than: 3.5 from Dec. 31st, 2024, to Jun. 30th, 2029 4.0 from Jun. 30st, 2029 onwards	Equal to or less than: 3.0 by Jun. 30th, 2026 3.5 from Jul. 1st, 2026, to Jun. 30th, 2029 4.0 from Jun. 30st, 2029 onwards	Semi-annual and annual
9th Debentures Issue Gasmig	Ebitda/Net financial income Net debt / Ebitda	1.3 or less from December 31, 2024, onwards 3 or less from December 31, 2024, onwards	-	Annual
10th Debentures Issue Cemig GT	Net debt / Ebitda	3.5 or less from June 30, 2025, until June 30, 2029 4 or less from June 30, 2029, onwards	Equal to or less than: 3.0 by Jun. 30, 2026 3.5 from Jul. 1, 2026, to Jun. 30, 2029 4.0 from Jun. 30, 2029, onwards	Semi-annual and annual
12th Debentures Issue Cemig D	Net debt / Ebitda	3.5 or less from June 30, 2025, until June 30, 2029 4 or less from June 30, 2029, onwards	Equal to or less than: 3.0 by Jun. 30, 2026 3.5 from Jul. 1, 2026, to Jun. 30, 2029 4.0 from Jun. 30, 2029, onwards	Semi-annual and annual
13th Debentures Issue Cemig D	Net debt / Ebitda	3.5 or less from June 30, 2025, until June 30, 2029 4 or less from June 30, 2029, onwards	Equal to or less than: 3.0 by Jun. 30, 2026 3.5 from Jul. 1, 2026, to Jun. 30, 2029 4.0 from Jun. 30, 2029, onwards	Semi-annual and annual

(1) Adjusted Ebtida corresponds to earnings before interest, income taxes and social contribution on net income, depreciation and amortization, from which non-operating income, any credits and non-cash gains that increase net income are subtracted, to the extent that they are non-recurring, and any cash payments made on a consolidated basis during such period in respect of non-cash charges that were added back in the determination of Ebtida in any prior period, and increased by non-cash expenses and non-cash charges, to the extent that they are non-recurring.

(2) Non-compliance with financial covenants implies non-automatic early maturity. If early maturity is declared by the debenture holders, Gasmig must make the payment upon receipt of the notification.

(3) Non-compliance with financial covenants implies early maturity resulting in the immediate enforceability of payment by CEMIG GT of the Unit Nominal Value or Updated Unit Nominal Value of the Debentures, as the case may be, plus remuneration, in addition to the other charges due, regardless of judicial or extrajudicial notice, notification or interpellation.

Management monitors these indexes continuously.

55Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Linked funds under a debenture issue

On June 30, 2025, the Company had a balance of R$45,106 relating to restricted funds (R$235,206 on December 31, 2024). This growth is essentially associated with Cemig D's 7th issue of debentures.

According to the Fiduciary Assignment Agreement of the 7th debenture issuance, Cemig D must retain, in a restricted account, monthly during the six months preceding the installment's due date, an amount equivalent to one-sixth of the projected value of the installment, averaging R$181,000. These retentions were made between December 2024 and May 2025. In June 2025, the penultimate installment was paid.

18. POST-EMPLOYMENT OBLIGATIONS

Changes in net liabilities

Consolidated	Pension plans and retirement supplement plans - Forluz	Health plan	Dental plan	Total
Net liabilities on December 31, 2024	1,701,224	2,559,028	45,254	4,305,506
Expense recognized in Statement of income	105,047	152,830	2,710	260,587
Past service cost	-	(47,796)	(1,062)	(48,858)
Contributions paid	(81,066)	(87,812)	(1,165)	(170,043)
Actuarial losses (gains)	-	(8,604)	(2,402)	(11,006)
Net liabilities on June 30, 2025	1,725,205	2,567,646	43,335	4,336,186
			Jun. 30, 2025	Dec. 31, 2024

Current liabilities			218,428	232,898
Non-current liabilities			4,117,758	4,072,608

Parent company	Pension plans and retirement supplement plans - Forluz	Health plan	Dental plan	Total
Net liabilities at December 31, 2024	372,843	163,784	3,710	540,337
Expense recognized in Statement of income	23,005	9,794	222	33,021
Past service cost	-	(1,075)	(18)	(1,093)
Contributions paid	(3,989)	(10,196)	(66)	(14,251)
Actuarial losses (gains)	-	1,664	(530)	1,134
Net liabilities on June 30, 2025	391,859	163,971	3,318	559,148
			Jun. 30, 2025	Dec. 31, 2024

Current liabilities			25,839	20,406
Non-current liabilities			533,309	519,931

Actuarial gains and losses, net of income tax and social contribution, are non-cash items and, therefore, are not reflected in the statements of cash flows.

The amounts recorded under expenses recognized in the consolidated income statement refer to portions of post-employment benefit obligations, totaling R$211,729 in the first half of 2025 (R$243,837 in the first half of 2024).

56Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Health and Dental Plans

In January and April 2025, the enrollment period for the new health plan, Premium Plan, was reopened to all active employees participating in the PSI. The Premium Plan is fully funded by the Company. During both periods, a portion of employees migrated to the Premium Plan, reducing the number of active employees covered by the PSI.

In accordance with CPC 33 (R1) / IAS 19, this situation qualifies as a curtailment event, which required the Company to remeasure its post-employment benefit obligations as of March 31, 2025, considering the January 2025 migration window, and as of the reporting date of June 30, taking into account the April 2025 migration window.

The effects and assumptions of the two events related to the curtailment of the health and dental plans are presented in the table below:

Consolidated	Curtailment June 30, 2025		Curtailment March 31, 2025		Actuarial Report 2024
	Health Plan	Dental Plan	Health Plan	Dental Plan	Health Plan	Dental Plan
Discount rate	11.85%	11.85%	12.32%	12.32%	12.23%	12.23%
Past service cost	(20,637)	(524)	(27,159)	(538)	-	-
Actuarial losses (gains)	50,164	(1,431)	(58,767)	(970)	(518,980)	(10,387)

The remaining assumptions remained consistent with those presented in 2024. The discount rate as of June 30, 2025 impacted the liability balances, resulting in an actuarial loss of R$50,164 for the health plan and an actuarial gain of R$1,431 for the dental plan.

Ruling in action to annul a period of validity in a Collective Employee Health Plan Agreement

On February 19, 2025, the Specialized Collective Employee Agreement section of the Higher Employment-law Appeal Court (TST) published the judgment given in an Ordinary Employment-law Appeal completed on December 9, 2024.

This decision determined cessation, as from December 31, 2023, of the period of validity of the clauses that specified automatic extension, for successive equal periods, of Clause 17 of the Collective Work Agreement of 2010, and Clause 4 of the Collective Work Agreement of 2016. These clauses ensured compliance by the Company of its obligations to pay post-employment benefits of the health plan (PSI) to retirees and active employees.

Due to the specific nature of this matter, the Company and its legal advisors have, at this time, the probability of loss was assessed as possible in these interim financial statements, and therefore did not impact the amounts recorded under post-employment liabilities for the health and dental plans.

57Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Funding of the 2022 Deficit

In April 2025, the Company began making escrow deposits to Forluz, corresponding to the installments related to the funding of the 2022 deficit of Plan A. As of June 30, 2025, the total amount deposited was R$7,547, representing 50% of the minimum required amount, in compliance with the contributory parity rule.

19. PROVISIONS

	Consolidated
	Labor	Civil		Tax	Regulatory	Others	Total
		Customer relations	Other
Balances at December 31, 2024	467,387	150,537	61,684	1,083,225	55,349	34,861	1,853,043
Additions	119,209	56,308	16,673	43,623	15,563	34,124	285,500
Reversals	(15,647)	(1,926)	(15)	(131)	(7,274)	(8,817)	(33,810)
Settled	(89,325)	(24,163)	(7,330)	(958)	(12,902)	(10,110)	(144,788)
Balances at June 30, 2025	481,624	180,756	71,012	1,125,759	50,736	50,058	1,959,945

	Parent Company
	Labor	Civil		Tax	Regulatory	Others	Total
		Customer relations	Other
Balances at December 31, 2024	50,420	7,685	2,142	256,994	13,526	3,141	333,908
Additions	17,386	970	395	11,853	2,613	3,478	36,695
Reversals	(2,842)	(1,926)	-	-	-	(475)	(5,243)
Settled	(17,386)	(36)	(33)	(275)	(330)	(430)	(18,490)
Balances at June 30, 2025	47,578	6,693	2,504	268,572	15,809	5,714	346,870

Additionally, there are lawsuits whose expected loss is considered possible, since the Company's and its subsidiaries' legal advisors assessed them as having a possible chance of success, and no provision was recorded, as follows:

Possible losses
	Consolidated		Parent company
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024
Labor	1,062,521	1,041,962	193,751	182,297
Civil
Customer relations	1,071,842	743,167	12,360	13,784
Other civil actions	677,468	636,552	50,486	48,863
	1,749,310	1,379,719	62,846	62,647
Tax	3,357,376	3,329,441	641,753	659,133
Regulatory	3,159,413	3,594,831	1,750,902	1,664,526
Others	2,120,755	2,113,815	388,745	381,549
Total	11,449,375	11,459,768	3,037,997	2,950,152

The Cemig and its subsidiaries management, in view of the extended period and the Brazilian judiciary, tax and regulatory systems, believes that it is not practical to provide information that would be useful to the users of this interim financial information in relation to the timing of any cash outflows, or any possibility of reimbursements. It is expected that most of the provisioned amounts will be paid out in periods of more than 12 months.

The Cemig and its subsidiaries believe that any disbursements in excess of the amounts provisioned, when the respective claims are completed, will not significantly affect the Company and its subsidiaries’ results of operations or financial position.

58Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The main provisions and contingent liabilities are disclosed in note 24 to the financial statements for the year ended December 31, 2024. For the period ended June 30, 2025, except as indicated below, there were no material changes in the progress of the proceedings or in the amounts provisioned.

In the first half of 2025, the main changes in contingent liabilities were related to the following proceedings:

Consumer Relations

Electricity Supply

In June 2025, the Public Prosecutor’s Office of the State of Minas Gerais (MPMG) filed a public civil action seeking the Company’s conviction for collective moral damages, as well as an obligation to improve the electricity supply service in a municipality in Minas Gerais. The claim is based on allegations of repeated and prolonged failures in electricity supply across various areas of the municipality. As of June 30, 2025, the amount of the contingency is R$141,807, with the likelihood of loss assessed as possible.

Regulatory

The Company and its subsidiaries are involved in regulatory proceedings in which the contingency amounts were revised due to an unfavorable court ruling against the Company. As of June 30, 2025, the amount of these contingencies is R$716,553 (R$636,619 as of December 31, 2024).

Accounting for energy sale transactions through the Electric Energy Trading Chamber (CCEE)

Since August 2002, AES Sul Distribuidora has been legally challenging the accounting criteria applied to energy sale transactions in the Wholesale Energy Market (MAE), the predecessor of the Electric Energy Trading Chamber (CCEE), during the rationing period. In February 2006, the Company obtained a preliminary favorable court ruling requiring ANEEL to comply with the distributor’s request and, together with CCEE, to reprocess and settle the transactions carried out during the rationing period, disregarding Dispatch No. 288 of 2002.

This measure was to be implemented by CCEE starting in November 2008 and would result in an additional disbursement for the Company related to short-term energy purchase expenses with CCEE. In June 2025, a court ruling was published with votes in favor of the Company's arguments, leading to a reassessment of the likelihood of loss from “possible” to “remote.” The amount of the contingency was R$680,844 as of December 31, 2024.

Other proceedings in the ordinary course of business

Breach of contract

The Company and its subsidiaries are involved in administrative proceedings, which increased during the first half of 2025 due to the approval of expert calculations. As of June 30, 2025, the amount of the contingency is R$283,045 (R$200,153 as of December 31, 2024), with the likelihood of loss assessed as possible.

59Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Volta do Rio

The Company and its subsidiary Volta do Rio are defendants in a notice of violation issued in 2022 by the Secretariat of Federal Assets (SPU/CE), which determined that landfills, ripraps, and towers used for the installation of the wind generation system of CE Volta do Rio were located within the beach zone. As a result, the Wind Power Plant Volta do Rio was subject to the following penalties: (i) demolition and/or removal of the structures and installed equipment, if not eligible for regularization; (ii) a monthly fine for each square meter impacted by the installations. The Wind Power Plant Volta do Rio submitted a defense against the notice and filed an administrative appeal. The contingency calculation considers the monthly fine applied to each square meter of the areas that were filled, built upon, or where works, fences, or installations related to the Wind Power Plant Volta do Rio were carried out. As of June 30, 2025, the amount of the contingency is R$496,540 (R$311,432 as of December 31, 2024), with the likelihood of loss assessed as possible.

Light for All Program

The Company is involved in disputes regarding alleged damages resulting from supposed contractual breaches during the implementation of part of the rural electrification initiative known as the Light for All Program.

The reduction in the contingent liability is due to the judgment of appeals, during which the Court of Justice of the State of Minas Gerais (TJMG) assigned to the Company the tax burden related to the ISSQN difference, resulting from the increase in the tax base. Consequently, the likelihood of loss was reassessed from possible to probable, for the amount of R$2,868 as of June 30, 2025. On the other hand, the court dismissed the Company’s responsibility for the alleged contractual imbalance, and the likelihood of loss was reassessed from possible to remote, for the amount of R$414,067 as of June 30, 2025 (R$335,585 as of December 31, 2024).

20. EQUITY AND REMUNERATION TO SHAREHOLDERS

a) Share capital

On June 30, 2025, the Company’s issued and share capital is R$14,308,909 represented by 956,601,911 common shares and 1,905,179,984 preferred shares, both of them with nominal value of R$5.00.

b) Earnings per share

The number of shares included in the calculation of basic and diluted earnings, is described in the table below:

60Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

	Number of shares
	Jun. 30, 2025	Dec. 31, 2024 (restated)
Common shares already paid up	956,601,911	956,601,911
Shares in treasury	(132)	(132)
Total common shares	956,601,779	956,601,779
Preferred shares already paid up	1,905,179,984	1,905,179,984
Shares in treasury	(1,099,880)	(1,099,880)
Total preferred shares	1,904,080,104	1,904,080,104
Total	2,860,681,883	2,860,681,883

Basic and diluted earnings per share

The calculation of basic and diluted earnings per share is as follows:

	Jan to Jun/2025	Jan to Jun/2024 (restated)	Apr to Jun/2025	Apr to Jun/2024 (restated)
Net income for the period (A)	2,225,881	2,840,381	1,187,633	1,687,993
Total shares (B)	2,860,681,883	2,860,681,883	2,860,681,883	2,860,681,883
Basic and diluted earnings per share (A/B) (R$)	0.78	0.99	0.42	0.59

c) Remuneration to shareholders

Declaration of Interest on Equity

The Company’s Executive Board decided to declare Interest on Equity as follows:

Declaration date	Entitled shareholders (1)	Amount	Income tax withheld
March 20, 2025	March 25, 2025	541,006	(51,738)

June 17, 2025	June 23, 2025	596.758	(56.677)
		1.137.764	(108.415)

(1) Shareholders who have their names entered in the Register of Registered Shares on the dates indicated are entitled.

	Consolidated	Parent Company
Balances as of December 31, 2024	3,611,198	3,608,821
Proposed dividends and interest on equity,	1,137,764	1,137,764
Proposed dividends – Non-controlling interests	740	-
Withholding income tax on interest on equity (IRRF)	(108,415)	(108,415)
Dividends and interest on equity paid	(1,775,716)	(1,775,266)
Balances as of June 30, 2025	2,865,571	2,862,904

61Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

21. NET REVENUE

	Consolidated		Parent company
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Revenue from supply of energy (a)	17,060,791	16,163,221	2,262,710	2,239,856
Revenue from use of the electricity distribution systems (TUSD)	2,843,504	2,420,853	-	-
CVA and Other financial components (1)	196,716	19,119	-	-
Reimbursement of PIS/Pasep and Cofins over ICMS credits to customers - realization	-	512,852	-	-
Transmission revenue (b)				-
Transmission operation and maintenance revenue	174,636	146,278	-	-
Transmission construction revenue	245,474	168,285	-	-
Interest revenue arising from the financing component in the transmission contract asset (note 10)	203,848	285,822	-	-
Generation indemnity revenue (note 9.1)	58,129	42,030	-	-
Distribution construction revenue (3)	2,472,991	2,047,640	-	-
Adjustment to expectation of cash flow from indemnifiable financial assets of distribution concession	79,821	53,209	-	-
Revenue on financial updating of the Concession Grant Fee (note 9.2)	257,316	235,636	-	-
Transactions in energy on the CCEE	61,508	55,137	38,906	25,093
Supply of gas	1,886,274	1,892,072	-	-
Fine for violation of service continuity indicator	(86,761)	(83,011)	-	-
Other revenues (c)	2,037,558	1,398,810	1,487	9,968
Deductions on revenue (d)	(6,861,279)	(6,864,095)	(326,410)	(322,133)
Net revenue	20,630,526	18,493,858	1,976,693	1,952,784

(1) This income derives from the total additions and amortizations shown in note 9.3.

(2) In May 2024, Cemig D completed the refund of amounts related to the reimbursement of PIS/Pasep and Cofins tax credits to consumers, which had been returned through tariff adjustments. Accordingly, the revenue recovery related to the realization of the liability was completed by the second quarter of 2024.

(3) This variation is associated with the increased number of projects carried out by Cemig D, primarily in electricity distribution networks, in line with the Distribution Development Plan (PDD), and by Gasmig, in line with the Centro-Oeste Project, which includes an estimated 300 km of additional gas pipelines. The project is expected to be completed in the second half of 2026.

	Consolidated		Parent company
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
Revenue from supply of energy (a)	8.686.379	8.144.077	1.165.259	1.088.351
Revenue from use of the electricity distribution systems (TUSD)	1.414.496	1.251.554	-	-
CVA and Other financial components (1)	70.394	(56.556)	-	-
Reimbursement of PIS/Pasep and Cofins over ICMS credits to customers – realization (2)	-	190.186	-	-
Transmission revenue (b)
Transmission operation and maintenance revenue	114.197	79.716	-	-
Transmission construction revenue	179.130	104.891	-	-
Interest revenue arising from the financing component in the transmission contract asset	30.416	134.430	-	-
Generation indemnity revenue	31.201	20.596	-	-
Distribution construction revenue (3)	1.324.446	1.154.213	-	-
Adjustment to expectation of cash flow from indemnifiable financial assets of distribution concession	26.618	22.258	-	-
Revenue on financial updating of the Concession Grant Fee (note 9.2)	118.859	107.011	-	-
Transactions in energy on the CCEE	39.585	14.380	37.913	12.052
Supply of gas	965.491	972.424	-	-
Fine for violation of service continuity indicator	(39.949)	(37.084)	-	-
Other revenues (c)	1.315.539	761.856	529	1.645
Deductions on revenue (d)	(3.490.507)	(3.427.961)	(171.230)	(159.460)
Net revenue	10.786.295	9.435.991	1.032.471	942.588

(1) This income derives from the total additions and amortizations shown in note 9.3.

62Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

a) Revenue from energy supply

	Consolidated				Parent Company
	MWh (1)		R$		MWh (1)		R$
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Residential (2)	7,505,795	7,220,769	6,796,706	6,193,215	-	-	-	-
Industrial	8,987,941	8,642,000	2,482,602	2,625,270	3,784,474	4,016,273	882,411	935,557
Commercial, services and others	6,306,375	6,145,364	3,297,030	3,284,181	943,505	947,851	193,622	196,835
Rural	1,723,080	1,677,669	1,160,217	1,132,914	62,562	31,234	11,604	6,376
Public authorities	647,665	531,105	457,049	455,781	-	-	-	-
Public lighting	469,554	492,696	268,381	262,915	-	-	-	-
Public services	253,970	485,807	296,545	359,976	-	-	-	-
Subtotal	25,894,380	25,195,410	14,758,530	14,314,252	4,790,541	4,995,358	1,087,637	1,138,768
Own consumption	14,917	15,898	-	-	-	-	-	-
Unbilled revenue	-	-	45,245	(86,912)	-	-	(19,709)	6,671
	25,909,297	25,211,308	14,803,775	14,227,340	4,790,541	4,995,358	1,067,928	1,145,439
Wholesale supply to other concession holders (3)	9,868,191	8,228,300	2,354,277	2,017,349	4,863,220	4,238,995	1,236,403	1,128,051
Wholesale supply unbilled, net	-	-	(97,261)	(81,468)	-	-	(41,621)	(33,634)
Total	35,777,488	33,439,608	17,060,791	16,163,221	9,653,761	9,234,353	2,262,710	2,239,856

(1) Information not reviewed by independent auditors.

(2) The increase in energy supply to residential customers is mainly due to the growth in the number of consumers.

(3) Includes Energy Trading Assignment Contracts (CCEARs) within the Regulated Market through the Surplus and Deficit Compensation Mechanism (MCSD), sales in the Free Contracting Market (ACL), and revenues from Generation Asset Management (GAG) related to the 18 hydroelectric power plants from Lot D of Auction No. 12/2015.

	Consolidated				Parent Company
	MWh (1)		R$		MWh (1)		R$
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
Residential (2)	3,667,850	3,552,969	3,374,148	3,066,719	-	-	-	-
Industrial	4,676,668	4,440,313	1,278,269	1,326,674	1,978,730	2,090,040	459,919	480,878
Commercial, services and others	3,141,492	3,009,442	1,650,182	1,609,719	476,561	492,665	99,582	101,524
Rural	984,250	927,534	643,413	599,558	26,694	15,076	5,003	2,944
Public authorities	384,704	270,497	229,246	232,496	-	-	-	-
Public lighting	235,650	244,326	140,046	131,933	-	-	-	-
Public services	58,262	235,023	146,260	174,633	-	-	-	-
Subtotal	13,148,876	12,680,104	7,461,564	7,141,732	2,481,985	2,597,781	564,504	585,346
Own consumption	6,992	7,710	-	-	-	-	-	-
Unbilled revenue	-	-	77,702	68,410	-	-	(6,433)	(10,624)
	13,155,868	12,687,814	7,539,266	7,210,142	2,481,985	2,597,781	558,071	574,722
Wholesale supply to other concession holders (3)	5,042,543	3,952,637	1,162,502	966,330	2,408,830	2,116,554	611,085	540,349
Wholesale supply unbilled, net	-	-	(15,389)	(32,395)	-	-	(3,897)	(26,720)
Total	18,198,411	16,640,451	8,686,379	8,144,077	4,890,815	4,714,335	1,165,259	1,088,351

Information not reviewed by independent auditors.

The increase in energy supply to residential customers is mainly due to the growth in the number of customers.

Includes Energy Trading Assignment Contracts (CCEARs) within the Regulated Market through the Surplus and Deficit Compensation Mechanism (MCSD), sales in the Free Contracting Market (ACL), and revenues from Generation Asset Management (GAG) related to the 18 hydroelectric power plants from Lot D of Auction No. 12/2015.

63Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

b) Transmission concession revenue

The margin defined for each performance obligation from the transmission concession contract is as follows:

Consolidated	Jan to Jun/2025			Jan to Jun/2024
	Construction and upgrades	Operation and maintenance (1)	Total	Construction and upgrades	Operation and maintenance	Total

Transmission concession revenue (2)	245,474	280,572	526,046	168,285	146,278	314,563
Transmission infrastructure construction cost	(192,244)	(361,249)	(553,493)	(100,274)	(135,867)	(236,141)
Margin	53,230	(80,677)	(27,447)	68,011	10,411	78,422
Mark-up (%)	27.69%	-22.33%	-4.96%	67.83%	7.66%	33.21%

Consolidated	Apr to Jun/2025			Apr to Jun/2024
	Construction and upgrades	Operation and maintenance (1)	Total	Construction and upgrades	Operation and maintenance (1)	Total
Transmission concession revenue (2)	179,130	134,139	313,269	104,891	79,716	184,607
Transmission infrastructure construction cost	(138,924)	(281,081)	(420,005)	(72,720)	(62,211)	(134,931)
Margin	40,206	(146,942)	(106,736)	32,171	17,505	49,676
Mark-up (%)	28.94%	-52.28%	-25.41%	44.24%	28.14%	36.82%

(1) Transmission operation and maintenance revenue from intercompany operations is not eliminated from consolidated revenue for margin calculation purposes.

(2) This breakdown does not include the financial remuneration of the contract asset, which is also part of the transmission concession revenue.

c) Other revenues

Consolidated Jan to Jun/2025 Jan to Jun/2024

Charged service	7,973	8,961
Services rendered	63,204	45,197
Low-income subsidy (1)	244,077	218,617
SCEE subsidy (2)	187,412	44,698
Eletrobras Subsidy (3)	17,282	104,268
Tariff flags subsidy (4)	110,023	37,871
CDE subsidy to pay for tariff discounts (5)	1,006,773	589,751
Subsidies linked to the EUST (Tariff for the Use of the Distribution System)	36,848	36,726
Rental and leasing	345,720	259,576
Other	18,246	53,145
Total	2,037,558	1,398,810

(1) The increase is due to the growth in the number of consumer units in 2025 and the annual tariff adjustment for 2025.

(2) The subsidy under the Electric Energy Compensation System (SCEE) refers to an amount allocated to cover tariff benefits for consumer units participating in the SCEE, introduced by ANEEL as part of the 2023 tariff review. The forecast granted in 2023 exceeded the amounts actually accrued, and the adjustment made in 2024 surpassed the subsidy amount for that year, resulting in a revenue reversal and a lower figure for the first half of 2024. Additionally, the variation is due to the increase in discounts granted by Cemig, primarily to the “Incentivized Source Load” and “GD II” consumer classes.

(3) With Provisional Measure No. 1,212/2024, the funds from Eletrobras' contribution to the CDE (Energy Development Account) were advanced to settle the Covid Account and the Water Scarcity Account, resulting in a reduction of the direct contributions to the CDE in 2025 compared to 2024.

(4) This subsidy is affected by the activation of the Yellow and Red tariff flags. During the first half of 2025, the 'Red Flag – Level 1' was triggered in May and June. In contrast, during the first half of 2024, no tariff flags were activated, with the Green Flag remaining in effect throughout the period.

(5) The amount allocated to this subsidy is defined in the Ratifying Resolution issued for each tariff adjustment. The variation is mainly due to the increase in the discounts granted by Cemig, particularly to the 'Encouraged Source Load' and 'Distributed Generation II' customer classes.

64Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

	Consolidated
	Apr to Jun/2025	Apr to Jun/2024
Charged service	4.336	4.335
Services rendered	35.800	20.465
Low-income subsidy (1)	118.483	109.635
SCEE subsidy (2)	216.853	(3.546)
Eletrobras Subsidy (3)	17.282	104.268
Tariff flags subsidy (4)	88.148	19.595
CDE subsidy to pay for tariff discounts (5)	634.407	333.622
Subsidies linked to the EUST (Tariff for the Use of the Distribution System)	12.745	14.918
Rental and leasing	180.185	139.342
Other	7.300	19.222
Total	1.315.539	761.856

(1) The increase is due to the growth in the number of consumer units in 2025 and the annual tariff adjustment for 2025.

65Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

d) Taxes and regulatory charges levied on operating revenue

	Consolidated		Parent Company
	Jan to jun/2025	Jan to jun/2024	Jan to jun/2025	Jan to jun/2024
Taxes on revenue
ICMS	2,868,373	2,765,535	125,191	123,352
Cofins	1,485,146	1,518,795	165,326	163,323
PIS/Pasep	322,428	329,722	35,893	35,458
Outros	4,140	2,967	-	-
	4,680,087	4,617,019	326,410	322,133
Consumer charges
Global Reversion Reserve – RGR	3,648	4,535	-	-
Energy Efficiency Program – PEE	42,687	38,565	-	-
Energy Development Account – CDE	1,962,054	2,044,608	-	-
Research and Development – R&D	21,027	19,605	-	-
National Fund for Scientific and Technological Development – FNDCT	30,039	28,001	-	-
Energy System Expansion Planning – EPE/MME	15,019	14,005	-	-
Consumer Charges – Proinfa	31,135	29,192	-	-
Electricity Services Regulatory Fee	22,166	19,406	-	-
Financial Compensation for the Use of Water Resources	30,925	28,579	-	-
CDE Allocation for R&D	9,012	8,402	-	-
CDE Allocation for Energy Efficiency Program	13,480	12,178	-	-
	2,181,192	2,247,076	-	-
Total	6,861,279	6,864,095	326,410	322,133

	Consolidated		Parent Company
	Apr to jun/2025	Apr to Jun/2024	Apr to jun/2025	Apr to Jun/2024
Tributos sobre a receita
ICMS	1,441,309	1,390,110	66,127	63,529
Cofins	772,184	763,497	86,355	78,819
PIS/Pasep	167,642	165,745	18,748	17,112
Outros	2,205	1,495	-	-
	2,383,340	2,320,847	171,230	159,460
Encargos do consumidor
Reserva global de reversão – RGR	1,836	1,693	-	-
Programa de eficiência energética – PEE	22,481	19,512	-	-
Conta de desenvolvimento energético – CDE	998,593	1,008,076	-	-
Pesquisa e desenvolvimento – P&D	10,808	9,776	-	-
Fundo nacional de desenvolvimento científico e tecnológico – FNDCT	15,440	13,959	-	-
Pesquisa expansão sistema energético – EPE/MME	7,720	6,984	-	-
Encargos do consumidor – Proinfa	12,550	14,924	-	-
Taxa fiscalização serviços energia elétrica	11,193	9,902	-	-
Compensação financeira utilização recursos hídricos	14,815	11,950	-	-
CDE sobre P&D	4,632	4,177	-	-
CDE sobre PEE	7,099	6,161	-	-
	1,107,167	1,107,114	-	-
Total	3,490,507	3,427,961	171,230	159,460

66Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

22. COSTS, EXPENSES AND OTHER REVENUE

The costs and expenses of the Company and its subsidiaries are as follows:

a) Cost of energy and gas

	Consolidated		Parent company
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Energy purchased for resale
Supply from Itaipu Binacional	629,237	572,982	-	-
Physical guarantee quota contracts	403,794	434,806	-	-
Quotas for Angra I and II nuclear plants	166,892	188,792	-	-
Spot market (1)	808,634	196,642	193,469	-
Proinfa Program	269,677	229,194	-	-
‘Bilateral’ contracts	254,415	250,248	-	-
Energy acquired in Regulated Market auctions	2,009,743	2,036,670	-	-
Energy acquired in the Free Market	3,168,474	2,509,519	1,872,327	1,728,568
Distributed generation (‘Geração distribuída’) (2)	1,796,942	1,361,738	-	-
PIS/Pasep and Cofins credits	(693,879)	(576,732)	(191,086)	(159,893)
	8,813,929	7,203,859	1,874,710	1,568,675
Basic Network Usage Charges
Transmission charges - Basic Grid	1,704,896	1,816,815	(63)	63
Distribution charges	25,328	32,884	-	-
PIS/Pasep and Cofins credits	(186,243)	(189,341)	6	(6)
	1,543,981	1,660,358	(57)	57
Gas purchased for resale (3)	973,949	1,019,005	-	-
Total costs of energy and gas	11,331,859	9,883,222	1,874,653	1,568,732

(1) The variation is mainly associated with the increase in the PLD (Settlement Price for the Difference Market) in the Southeast/Central-West submarket, which was not offset by the PLD in the Northeast and North submarkets, as these remained at their minimum value for most of the period. In the trading segment, the Company’s exposure to price differences between submarkets negatively impacted results. Further details are provided in the “Trading Segment Performance” section. In the distribution segment, the negative effect of this exposure is mitigated by the CVA (Parcel A Cost Variation Compensation Account) mechanism, which is offset in the subsequent tariff adjustment. Additionally, the unfavorable hydrological scenario observed in the second quarter of 2025 resulted in low performance under the MRE (Energy Reallocation Mechanism), leading to an increase in pass-through amounts related to Hydrological Risk.

(2) The increase of 31.96% is mainly due to the increase in the number of generating units (336,669 as of June 30, 2025, compared to 273,174 as of June 30, 2024) and the volume of energy injected into the grid (3,673 GWh in the second half of 2025 compared to 2,925 GWh in the second half of 2024).

(3) The price of the gas molecule purchased by Gasmig is adjusted based on fluctuations in Brent crude oil prices and the exchange rate.

	Consolidated		Parent company
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
Energy purchased for resale
Supply from Itaipu Binacional	322,822	304,286	-	-
Physical guarantee quota contracts	200,845	214,415	-	-
Quotas for Angra I and II nuclear plants	83,446	94,393	-	-
Spot market (1)	489,394	132,881	53,176	(9,084)
Proinfa Program	134,838	116,081	-	-
‘Bilateral’ contracts	132,433	122,958	-	-
Energy acquired in Regulated Market auctions	1,046,488	1,035,152	-	-
Energy acquired in the Free Market	1,656,838	1,269,988	992,210	861,401
Distributed generation (‘Geração distribuída’) (2)	846,075	697,974	-	-
PIS/Pasep and Cofins credits	(365,876)	(294,901)	(96,698)	(78,840)
	4,547,303	3,693,227	948,688	773,477
Basic Network Usage Charges
Transmission charges - Basic Grid	859,129	892,868	-	-
Distribution charges	11,541	17,849	-	-
PIS/Pasep and Cofins credits	(93,955)	(93,581)	-	-
	776,715	817,136	-	-
Gas purchased for resale (3)	485,097	508,828	-	-
Total costs of energy and gas	5,809,115	5,019,191	948,688	773,477

(2) The increase of 21.22% is mainly due to the increase in the number of generating units (336,669 as of June 30, 2025, compared to 273,174 as of June 30, 2024) and the volume of energy injected into the grid (1,797 GWh in the second quarter of 2025 compared to 1,487 GWh in the second quarter of 2024).

(3) The price of the gas molecule purchased by Gasmig is adjusted based on fluctuations in Brent crude oil prices and the exchange rate.

67Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

b) Infrastructure and construction cost

	Consolidated
	Jan to Jun/2025	Jan to Jun/2024
Personnel and managers	65,853	88,333
Materials	1,260,531	971,506
Outsourced services	1,187,373	875,840
Acquisition of easements	96,127	57,445
Others	55,351	154,790
Total	2,665,235	2,147,914

	Consolidated
	Apr to Jun/2025	Apr to Jun/2024
Personnel and managers	30,345	44,340
Materials	722,993	547,626
Outsourced services	632,492	499,189
Acquisition of easements	51,796	36,643
Others	25,745	99,135
Total	1,463,371	1,226,933

There was an increase in the number and volume of works being undertaken, mainly in distribution networks, under the Distribution Development Plan (‘Plano de Desenvolvimento da Distribuição’ - PDD), and consequently higher Construction costs in Cemig D than in the previous year.

c) Other costs and expenses

Consolidated									Total Jan to Jun/2025	Total Jan to Jun/2024
	Operating costs		ECL		General and administrative expenses		Other expenses
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Personnel	563,211	549,537	-	-	171,469	191,305	-	-	734,680	740,842
Employees’ and managers’ income sharing	65,735	-	-	-	23,574	-	-	82,419	89,309	82,419
Post-employment benefits (reversal) (note 18)	(31,963)	-	-	-	(10,530)	-	254,222	240,676	211,729	240,676
Materials	59,703	54,868	-	-	5,644	7,693	-	-	65,347	62,561
Outsourced services (C.1)	914,820	903,071	-	-	126,901	123,542	-	-	1,041,721	1,026,613
Depreciation and amortization	719,582	655,677	-	-	12,658	10,644	-	-	732,240	666,321
Provisions (reversal)	220,220	(357,518)	-	-	-	-	31,452	30,472	251,672	(327,046)
Impairment	-	-	-	-	-	-	-	27,396	-	27,396
Expected credit losses (note 7)	-	-	53,726	153,153	-	-	-	-	53,726	153,153
Expected loss on other receivables	-	-	-	-	-	-	37,654	37,039	37,654	37,039
RBSE Remeasurement (Note 10)	-	-	-	-	-	-	198,895	-	198,895	-
Other costs and expenses (C.2)	131,325	127,940	-	-	41,853	42,262	58,371	39,251	231,549	209,453
Total	2,642,633	1,933,575	53,726	153,153	371,569	375,446	580,594	457,253	3,648,522	2,919,427

(1) In the first half of 2024, the Company recognized a reversal of tax contingency provisions in the amount of R$578,740, resulting from a favorable first-instance court decision that ordered the cancellation of the tax assessment and the termination of the enforcement proceeding related to social security contributions on Profit Sharing (PLR).

(2) This variation results from the change, effective August 2024, in the criteria for full loss recognition, extending the period from 24 to 36 months for regular consumption customers, and from 12 to 18 months for irregular consumption customers. The adjustment aims to improve the estimation of credit risk exposure for Cemig D’s captive customers. The impact of this change is recognized over a 12-month period, affecting the second quarter of 2025.

68Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Consolidated									Total Apr to Jun/2025	Total Apr to Jun/2024
	Operating costs		ECL		General and administrative expenses		Other expenses
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
Personnel	302,972	307,042	-	-	85,543	109,742	(126)	-	388,389	416,784
Employees’ and managers’ income sharing	33,437	-	-	-	12,587	-	-	43,187	46,024	43,187
Post-employment benefits (note 1)	(13,916)	-	-	-	(4,595)	-	127,835	98,391	109,324	98,391
Materials	32,398	29,239	-	-	(5,744)	4,352	-	-	26,654	33,591
Outsourced services (C.1)	465,048	441,855	-	-	61,959	65,851	-	-	527,007	507,706
Depreciation and amortization (2)	361,878	332,210	-	-	6,515	5,569	-	-	368,393	337,779
Provisions	95,484	(476,347)	-	-	-	-	18,142	22,163	113,626	(454,184)
Impairment	-		-	-	-	-	-	4,438	-	4,438
Expected credit losses (note 7)	-		3,098	77,300	-	-	-	-	3,098	77,300
Expected loss on other receivables	-	-	-	-	-	-	30,126	24,592	30,126	24,592
RBSE Remeasurement (Note 10)	-		-	-	-	-	198,895	-	198,895	-
Other costs and expenses (C.2)	86,375	52,181	-	-	21,337	20,186	30,929	33,823	138,641	106,190
Total	1,363,676	686,180	3,098	77,300	177,602	205,700	405,801	226,594	1,950,177	1,195,774

(1) In the second quarter of 2024, the Company recognized a reversal of tax contingency provisions in the amount of R$578,740, resulting from a favorable first-instance court decision that ordered the cancellation of the tax assessment and the termination of the enforcement proceeding related to social security contributions on Profit Sharing (PLR).

(2) This variation results from a change, effective August 2024, in the criteria for full loss recognition. The recognition period was extended from 24 to 36 months for regular consumption customers, and from 12 to 18 months for irregular consumption customers, in order to achieve a more accurate estimate of credit risk exposure for Cemig D’s captive customers. This change is reflected over a 12-month period, impacting the second quarter of 2025.

Parent Company									Total Jan to Jun/2025	Total Jan to Jun/2024
	Operating costs		ECL		General and administrative expenses		Other expenses
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Personnel	13,263	11,940	-	-	12,501	12,801	-	-	25,764	24,741
Employees’ and managers’ income sharing	-	-	-	-	11,525	-	-	8,350	11,525	8,350
Post-employment benefits	(1,233)	-	-	-	450	-	32,711	30,688	31,928	30,688
Materials	-	-	-	-	80	65	-	-	80	65
Outsourced services (C.1)	-	-	-	-	11,991	8,019	-	-	11,991	8,019
Depreciation and amortization	-	-	-	-	124	71	-	-	124	71
Provisions	-	-	-	-	-	-	31,452	30,471	31,452	30,471
Impairment	-	-	-	-	-	-	-	34	-	34
Expected credit losses (note 7)	-	-	(87)	9,309	-	-	-	-	(87)	9,309
Other costs and expenses (C.2)	-	-	-	-	-	-	9,731	7,972	9,731	7,972
Total	12,030	11,940	(87)	9,309	36,671	20,956	73,894	77,515	122,508	119,720

Parent Company									Total Apr to Jun/2025	Total Apr to Jun/2024
	Operating costs		ECL		General and administrative expenses		Other expenses
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
Personnel	6,752	5,990	-	-	(8)	1,179	5,234	-	11,978	7,169
Employees’ and managers’ income sharing	-	-	-	-	6,338	-	-	3,264	6,338	3,264
Post-employment benefits	(885)	-	-	-	522	-	16,389	13,949	16,026	13,949
Materials	-	-	-	-	59	20	-	-	59	20
Outsourced services (C.1)	-	-	-	-	7,093	4,199	-	-	7,093	4,199
Depreciation and amortization	-	-	-	-	60	39	-	-	60	39
Provisions	-	-	-	-	-	-	18,142	22,162	18,142	22,162
Impairment	-	-	-	-	-	-	-	(48)	-	(48)
Expected credit losses	-	-	(28)	3,315	-	-	-	-	(28)	3,315
Other costs and expenses (C.2)	-	-	-	-	-	-	3,998	9,568	3,998	9,568
Total	5,867	5,990	(28)	3,315	14,064	5,437	43,763	48,895	63,666	63,637

69Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

C.1) Outsourced services

	Consolidated		Parent company
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Meter reading and bill delivery	81,466	80,564	-	-
Communication	89,149	89,488	118	70
Maintenance and conservation of electrical facilities and equipment	357,158	399,359	7	11
Building conservation and cleaning	43,954	45,829	188	194
Security services	12,033	10,633	-	-
Consultancy	9,511	6,023	1,686	1,361
Information technology	103,535	94,812	1,673	1,227
Disconnection and reconnection	32,925	32,584	-	-
Legal services and procedural costs	16,785	16,664	3,593	1,000
Environment services	48,410	36,888	-	-
Cleaning of power line pathways	74,922	70,010	-	-
Copying and legal publications	8,826	8,823	86	-
Inspeção de unidades consumidoras	20,389	21,674	-	-
Contracted labor	31,817	23,703	1,391	196
Other expenses	110,841	89,559	3,249	3,960
Total	1,041,721	1,026,613	11,991	8,019

	Consolidated		Parent company
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
Meter reading and bill delivery	41,622	40,373	-	-
Communication	46,372	44,345	92	34
Maintenance and conservation of electrical facilities and equipment	181,818	189,004	7	6
Building conservation and cleaning	23,332	22,288	89	96
Security services	6,054	5,390	-	-
Consultancy	6,630	3,254	968	563
Information technology	34,901	36,105	655	533
Disconnection and reconnection	18,313	15,422	-	-
Legal services and procedural costs	11,220	10,947	3,065	801
Environment services	25,956	20,718	-	-
Cleaning of power line pathways	41,058	38,292	-	-
Copying and legal publications	4,369	4,266	37	-
Inspeção de unidades consumidoras	10,793	12,666	-	-
Contracted labor	17,471	12,246	1,015	159
Other expenses	57,098	52,390	1,165	2,007
Total	527,007	507,706	7,093	4,199

C.2) Other costs and expenses, net

	Consolidated		Parent company
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Leasing and rentals	5,053	2,121	10	4
Advertising	10,513	7,871	4,669	2,157
Own consumption	14,802	14,142	-	-
Subsidies and donations	13,058	16,068	1,000	914
Insurance	5,569	3,573	452	78
CCEE annual charge	4,991	4,418	1,365	1,143
Forluz – Administrative running cost	20,680	20,055	990	961
Collecting agents	28,347	29,309	-	-
Net loss (gain) on deactivation and disposal of assets	114,128	73,024	-	-
Liabilities arising from investment contracts	-	1,858	-	-
Taxes	7,375	6,637	236	259
Other (reversals)	7,033	30,377	1,009	2,456
Total	231.549	209.453	9.731	7.972

70Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

	Consolidated		Parent company
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
Leasing and rentals	5,053	1,784	10	4
Advertising	6,282	5,938	2,318	1,873
Own consumption	7,317	7,338	-	-
Subsidies and donations	4,282	8,150	-	-
Insurance	2,754	(1,237)	210	(719)
CCEE annual charge	2,443	2,274	659	651
Forluz – Administrative running cost	10,679	9,967	509	476
Collecting agents	14,106	14,580	-	-
Net loss (gain) on deactivation and disposal of assets	80,511	30,340	-	-
Taxes	2,466	1,820	20	97
Other (reversals)	2,748	25,236	272	7,186
Total	138,641	106,190	3,998	9,568

Scheduled Voluntary Termination Program (PDVP)

In April 2025, the Company approved the 2025 Scheduled Voluntary Termination Program (PDVP), with the employee enrollment period set from May 5 to May 30, 2025. A total of 118 employees joined the program. The initiative included the payment of legally mandated severance under the 'termination without cause' category, along with an additional compensation based on length of service. The total cost of the program amounted to R$25,391 and was recognized in the income statement under personnel expenses. Terminations began in June and are expected to be completed by October 2025.

d) other revenue

	Consolidated
	Jan to Jun/2025	Jan to Jun/2024
Gains arising from the sale of PP&E (1)	-	42,989

(1) Refers to the capital gain recognized from the disposal of 15 SHPPs/CGHs (Small Hydropower Plants) owned by the Company. The divestment process was completed in February 2024. Further details on this transaction are disclosed in Note 30 to the Annual Financial Statements for the fiscal year 2024.

23. FINANCE INCOME AND EXPENSES

	Consolidated		Parent company
	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
FINANCE INCOME
Income from financial investments	285,489	181,811	34,772	43,332
Interest on sale of energy	155,716	149,088	2,659	2,802
Foreign exchange variations - Itaipu Binacional	8,535	-	-	-
Interest	24,563	46,902	7,595	13,051
Interest - CVA	31,119	-	-	-
Gain with financial instruments – Swap (1)	-	112,050	-	-
Interests of escrow deposits	41,271	33,317	8,063	5,251
PIS/Pasep and Cofins charged on finance income (2)	(125,116)	(90,059)	(96,846)	(68,299)
Prepayments rents	1,536	2,456	4	-
Borrowing costs paid by related parties	-	-	1,414	10,925
Monetary updating on PIS/Pasep and Cofins taxes credits over ICMS	-	391,495	11,181	18,232
IRPJ credit update on Workers' Food Program	3,247	50,191	423	-
Other financial income	59,082	49,757	1,259	1,667
	485,442	927,008	(29,476)	26,961
FINANCE EXPENSES
Interest on debentures (Note 17)	(643,438)	(459,398)	-	-
Amortization of transaction cost	(12,431)	(8,392)	-	-
Foreign exchange variations – Loans (1)	-	(273,485)	-	-
Foreign exchange variations - Itaipu Binacional	-	(10,906)	-	-
Interest – debentures	(186,855)	(107,802)	-	-
Interest - CVA	-	(928)	-	-
Charges and monetary updating on post-employment obligations	-	(3,161)	-	(156)
Update on PIS/Pasep and Cofins Refunds to Consumers (2)	(1,985)	-	-	-
Interest on leases	(12,184)	(14,983)	(81)	(111)
Financial expenses R&D and PEE	(19,587)	(14,138)	-	-
Estimated Update of Distributed Generation Credits	(75,261)	(37,970)	-	-
Other financial expenses	(46,292)	(58,712)	(778)	(39)
	(998,033)	(989,875)	(859)	(306)
NET FINANCE INCOME (EXPENSES)	(512,591)	(62,867)	(30,335)	26,655

(1) In December 2024, Cemig GT completed the settlement of its Eurobonds. As a result, as of June 30, 2025, the Company no longer holds any derivative financial instruments or active hedge operations. Further details can be found in Notes 20 and 30 to the 2024 Financial Statements.

(2) PIS/Pasep and Cofins expenses are levied on financial income and interest on equity, which causes the total financial income to be negative in the parent company.

71Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

	Consolidated		Parent company
	Apr to Jun/2025	Apr to Jun/2024	Apr to Jun/2025	Apr to Jun/2024
FINANCE INCOME
Income from financial investments	201,623	117,043	22,955	32,393
Interest on sale of energy	81,432	73,661	1,395	1,194
Foreign exchange variations - Itaipu Binacional	2,326	-	-	-
Interest	12,156	8,101	3,941	42
Interest - CVA	13,346	-	-	-
Gain with financial instruments – Swap (1)	-	70,018	-	-
Interests of escrow deposits	20,203	15,307	4,853	2,148
PIS/Pasep and Cofins charged on finance income (2)	(72,060)	(48,924)	(53,445)	(36,334)
Borrowing costs paid by related parties	933	1,278	1	-
Monetary updating on PIS/Pasep and Cofins taxes credits over ICMS	4,345	406,414	5,802	13,348
IRPJ credit update on Workers' Food Program	2,185	50,191	280	-
Other financial income	35,955	32,385	640	1,094
	302,444	725,474	(13,578)	13,885
FINANCE EXPENSES
Interest on debentures (Note 17)	(383,331)	(240,729)	-	-
Amortization of transaction cost	(6,878)	(4,603)	-	-
Foreign exchange variations – Loans (1)	-	(214,451)	-	-
Foreign exchange variations - Itaipu Binacional	-	(8,561)	-	-
Interest – debentures	(61,762)	(52,877)	-	-
Interest - CVA	-	(2,720)	-	-
Charges and monetary updating on post-employment obligations	-	(717)	-	(36)
Interest on leases	(6,210)	(6,102)	(41)	(41)
Financial expenses R&D and PEE	(10,364)	(6,888)	-	-
Estimated Update of Distributed Generation Credits	(75,261)	(37,970)	-	-
Other financial expenses	(21,598)	(31,737)	(40)	(19)
	(565,404)	(607,355)	(81)	(96)
NET FINANCE INCOME (EXPENSES)	(262,960)	118,119	(13,659)	13,789

(2) PIS/Pasep and Cofins expenses are levied on financial income and interest on equity, which causes the total financial income to be negative in the parent company.

72Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

24. RELATED PARTY TRANSACTIONS

The relationships between Cemig and its investees are described in the investment note (No. 11). The main consolidated balances and transactions, as well as the main conditions relating to the Company's business with related parties, are shown below:

Transactions with energy

COMPANY	ASSETS		LIABILTIES		REVENUES			EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025		Jan to Jun/2024
Norte Energia			33,240	32,901	-	-	(146,366)		(140,456)
Paracambi			2,199	3,065	-	-	(13,271)		(15,036)
Hidrelétrica Pipoca			-	4,440	-	-	(1,893)		(19,088)

The sale and purchase of electricity between generators and distributors are carried out through auctions in the regulated contracting environment organized by the Federal Government. In the free contracting environment, in turn, they are carried out by means of auctions or direct contracting, according to the applicable legislation. Electricity transport operations, on the other hand, are carried out by the transmitters and result from the centralized operation of the National Interconnected System by the National System Operator (ONS).

Charges

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Connection charges
Taesa	-	-	649	107	-	-	(70,876)	(70,975)
Transmission charges
Norte Energia	9,806	8,726	-	-	17,400	16,040	-	-
Taesa	-	-	7,586	11,063	-	-	(645)	(10,377)

Connection charges are financial amounts set and approved by Aneel for use of connection facilities and/or connection points in the transmission system, payable by the accessing party to the connected agent.

Transmission charges are monthly amounts payable by users to holders of transmission concessions for the provision of transmission services, calculated according to the tariffs and the contracted amounts of use of the transmission system, in accordance with regulations set by Aneel.

Customers and traders

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Governo do Estado de Minas Gerais	10,730	10,769	-	-	55,564	113,201	-	-

73Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

The “Consumers and Traders” balance that the Company holds with the controlling entity refers to sale of electricity to the government of Minas Gerais State – the price of the supply is that decided by Aneel through a Resolution which decides the Cemig D annual tariff adjustment.

Provision of services

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Cachoeirão	101	-	-	-	139	-	-	-
Guanhães	722	-	-	-	1,212	-	-	-
Taesa	127	579	-	-	962	775	-	-

The balances for services rendered refer to contracts for the provision of operation and maintenance services for power plants, transmission networks and distribution networks.

Accounts receivable – ‘AFAC’

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Governo do Estado de Minas Gerais	13,366	13,366	-	-	-	-	-	-

This refers to the recalculation of the monetary correction of amounts related to AFAC returned to the State of Minas Gerais. These receivables are guaranteed by the retention of dividends or interest on equity distributed to the State, in proportion to its participation, while the delay and/or default persists.

Agreements and legal proceedings

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Guanhães Energia	-	-	13.497	16.872	-	-	-	-
Cemig D	-	-	7.944	9.931	-	-	-	-
Governo do Estado de Minas Gerais	21.621	27.027	-	-	-	-	-	-

Interest on Equity and dividends

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Taesa	59.214	111.317	-	-	-	-	-	-

The table above indicates the asset position of dividends receivable from the investees presented in “Other” in the “Dividends receivable” table.

FIC Pampulha

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Current
Cash and cash equivalents	383	159,216	-	-	-	-	-	-
Marketable securities	1,138,122	356,888	-	-	46,127	43,345	-	-
Non-current
Marketable securities	55,557	134,606	-	-	-	-	-	-

74Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Cemig and its subsidiaries and jointly controlled entities invest part of their financial resources in an investment fund which has the characteristics of fixed income and obeys the Company’s cash investment policy. The amounts invested by the fund are reported as cash and cash equivalent or marketable securities line in current and non-current assets.

The funds applied are allocated only in public and private fixed income securities, subject only to credit risk, with various maturity periods, obeying the unit holders’ cash flow needs.

Leasing

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
Current
Leasing	-	-	18,549	18,544	-	-	(10,913)	(14,148)
Non-current
Leasing	175,549	180,248	192,038	195,122	-	-	-	-

This is a contract with Fundação Forluminas de Seguridade Social (Forluz), the closed private pension fund (Entidade Fechada de Previdência Complementar – EFPC) of employees of the Cemig Group, the owner of the building.

Post-employment benefit

COMPANY	ASSETS		LIABILTIES		REVENUES		EXPENSES
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024	Jan to Jun/2025	Jan to Jun/2024	Jan to Jun/2025	Jan to Jun/2024
FORLUZ
Current
Post-employment obligations (1)	-	-	41,856	52,889	-	-	(105,047)	(106,977)
Supplementary pension contributions - Defined contribution plan (2)	-	-	-	-	-	-	(40,120)	(41,576)
Administrative running costs (3)	-	-	-	-	-	-	(21,604)	(19,954)
Non-current
Post-employment obligations (1)	-	-	1,683,349	1,648,335	-	-	-	-
Cemig Saúde
Current
Health Plan and Dental Plan (4)	-	-	204,736	208,173	-	-	(155,540)	(91,240)
Non-current
Health Plan and Dental Plan (4)	-	-	2,406,246	2,396,109	-	-	-	-

The Company has contractual obligations to a group of retired former employees in which it is responsible for ensuring funds for the cost of a supplementary pension plan, called Forluz, and for the running costs of a health plan, called Cemig Saúde. The main conditions related to the post-employment benefits are as follows:

(1) Forluz's contracts are adjusted by the Broad National Consumer Price Index - IPCA of the Brazilian Institute of Geography and Statistics - IBGE, plus interest of 6% per year and will be amortized until 2031;

(2) Company's contributions to the Pension Fund regarding the employees participating in the Mixed Plan and calculated over monthly remunerations in conformity with the Fund's regulation;

(3) Funds for the annual administrative funding of the Pension Fund in accordance with the specific legislation for the sector. The amounts are estimated as a percentage of the Company's payroll;

(4) Post-employment obligations related to the employees' health and dental plan.

Details regarding post-employment benefits are provided in explanatory note 18.

75Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

Dividends receivable

	Consolidated		Parent company
	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2025	Dec. 31, 2024
Cemig GT	-	-	1,154,730	744,132
Cemig D	-	-	784,914	1,117,129
Gasmig	-	-	183,438	116,324
Taesa	59,214	111,317	59,214	111,317
Cemig Sim	193	-	6,855
Sete Lagoas	-	-	3,517
Guanhães	3,964	-	-
Others	11	50	11	11
Total	63,382	111,367	2,192,679	2,088,913

The table above shows the Company's active position with its investees in relation to the balances of dividends receivable. The subsidiaries that make up the amounts shown under “Other” are disclosed in the “Interest on equity and dividends” table.

Guarantees on debentures

Cemig has provided guarantees on debentures of the following related parties - not consolidated in the interim financial information because they relate to jointly controlled entities or affiliated companies:

Related party	Relationship	Type	Objective	Jun. 30, 2025	Maturity
Norte Energia (NESA) (1)	Affiliated	Surety	Financing	2,510,498	2042
Norte Energia S.A (NESA)/Light (2)	Affiliated	Counter-guarantee	Financing	683,615	2042
Norte Energia (NESA)	Affiliated	Surety	Debentures	77,255	2030
				3,271,268

(1) Related to Norte Energia financing.

(2) Counter-guarantee to Light, related to execution of guarantees of the Norte Energia financing.

On June 30, 2025, Management believes that there is no need to recognize any provisions in the Company’s interim financial information for the purpose of meeting any obligations arising under these sureties and/or guarantees.

Remuneration of key management personnel

The total remuneration of key personnel, comprising the Executive Board, the Fiscal Council, the Audit Committee and the Board of Directors, are within the limits approved at a General Shareholders’ Meeting, and their effects on profit or loss are presented as follows:

	Jan to Jun/2025	Jan to Jun/2024
Remuneration	16.713	18.048
Income sharing	3.024	33
Pension plans	820	1.682
Health and dental plans	116	138
Life insurance	26	20
Total	20.699	19.921

76Av. Barbacena, 1200 – Santo Agostinho – 30190-131 Belo Horizonte, MG – Brazil – Fax (+55-31) 3506-5026 – Tel.: (+55-31) 3506-5024 This text is a translation, provided for information only. The original text in Portuguese is the legally valid version.

25. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT

a) Financial instruments classification and fair value

The main financial instruments, classified in accordance with the accounting principles, are as follows:

	Level	Jun. 30, 2025		Dec. 31, 2024
		Book value	Fair value (1)	Book value	Fair value (1)
Financial assets
Amortized cost
Marketable securities - Cash investments		61,933	61,933	140,628	140,628
Customers and Traders; Concession holders (transmission service)		5,928,539	5,928,539	5,850,173	5,850,173
Restricted cash		45,106	45,106	235,206	235,206
Accounts receivable from the State of Minas Gerais (AFAC)		34,987	34,987	40,393	40,393
Concession financial assets - CVA (Parcel ‘A’ Costs Variation Compensation) Account and Other financial components		1,576,344	1,576,344	1,295,624	1,295,624
Reimbursement of Tariff Subsidies	1	639,090	639,090	208,688	208,688
Concession grant fee - Generation concessions		3,179,081	3,179,081	3,098,247	3,098,247
		11,465,080	11,465,080	10,868,959	10,868,959
Fair value through income or loss
Cash equivalents - Cash investments	2	1,590,444	1,590,444	1,628,992	1,628,992
Marketable securities
Bank certificates of deposit	2	390,601	390,601	-	-
Financial Notes - Banks	2	278,546	278,546	279,469	279,469
Treasury Financial Notes (LFTs)	1	546,429	546,429	72,422	72,422
		2,806,020	2,806,020	1,980,883	1,980,883
Concession financial assets - Distribution infrastructure	3	3,190,599	3,190,599	2,807,007	2,807,007
Reimbursements receivable - Generation	3	928,664	928,664	870,535	870,535
		6,925,283	6,925,283	5,658,425	5,658,425

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