1.1 Compliance with the law

1.1.1 EDP Energias do Brasil and all its collaborators hereby undertake to assure that all their activities will be performed in full compliance with the domestic and international law in force in the regions they operate and related areas. Collaborators shall never carry out, on behalf of EDP Energias do Brasil, any action that violates the laws and regulations applicable to the activities thereof.

1.1.2 EDP Energias do Brasil shall fully cooperate with supervision, regulatory and inspection authorities, shall comply with all the requirements thereof and shall not adopt any behavior that may obstruct supervision by such regulatory authorities.

1.1.3 EDP Energias do Brasil shall maintain a transparent attitude and shall cooperate with all levels of the organization in order to comply with the requirements of the regulatory and inspection authorities relating to its activities (Ex: External Auditing, Aneel), and shall prepare complete, legitimate, correct, timely and comprehensible reports and documents.

1.2 Ethics

1.2.1 EDP Energias do Brasil assures that the Code of Ethics will be made available to all collaborators.

1.2.2 This Code will be used by EDP Energias do Brasil as an instrument to resolve ethical questions. This Code will be in line with the legal practices applicable to all regions in which the company operates.

2.1 Transparency, honesty and integrity

2.1.1 EDP Energias do Brasil and all its collaborators shall base their behavior on the highest standards of integrity, loyalty, honesty and transparency, including an ethical treatment as regards personal or professional conflicts of interest.

2.1.2 Collaborators shall comply with their obligations in a professional, conscientious and careful way, always in search of optimum performance.

2.1.3 EDP Energias do Brasil and all its collaborators undertake to fully and clearly explain their professional decisions and behaviors, whenever required.

2.1.4 EDP Energias do Brasil, represented by its collaborators, will pay special attention to its behavior and ethical position in the defense of the company's principles and interests, so as to inspire confidence and to become an example to be followed by the other collaborators.

2.1.5 Collaborators agree that they shall not engage in any external professional activity that may interfere with their performance in the company.

2.1.6 Collaborators are not permitted to carry on private professional activities during their working hours.

2.1.7 Collaborators shall inform that they are prohibited from taking part in certain commercial transactions with related companies whose owners, partners and/or representatives have a personal relationship with the collaborator himself or his relatives.

2.1.8 Collaborators shall ask advice from their manager as regards any act that may disagree with this Code of Ethics.

2.1.9 Collaborators shall assure that confidential information on the company, their customers or suppliers will not be disclosed, unless disclosure thereof is approved by senior management or requested by supervision, regulatory and legal authorities.

2.1.10 Collaborators shall use any and all infotech resources (hardware, software, applications, e-mail, internet and LAN network) exclusively for professional purposes. Such resources shall not be used to send messages or to access discriminatory or illegal information or any information that is not in accordance with the conduct and ethical principles presented in this Code of Ethics.

2.1.11 Any e-mailed information sent or received by the collaborators and directly related to the Group's business and activities is EDP Energias do Brasil's proprietary data, and only EDP Energias do Brasil shall have the right to use and disclose such information.

2.1.12 Collaborators shall not use, for private purposes or for transferring to third parties, any methodologies, know-how and other information owned by or licensed to EDP Energias do Brasil, its customers or suppliers.

2.1.13 Collaborators shall avoid any action that, directly or indirectly, may have any fraudulent, coercive, manipulative or misleading influence on regulatory and inspection authorities, with the purpose of generating faked information on EDP Energias do Brasil.

2.1.14 Collaborators shall behave honestly when they are representing the company in any business trips, congresses, fairs or similar events.

2.2 Workplace

2.2.1 According to EDP Energias do Brasil, human relations and potential are worthy of merit; the company treats everybody with due respect, dignity and justice, maintaining a healthy environment, free from threats, violence acts and physical and moral intimidation.

2.2.2 EDP Energias do Brasil complies with all provisions of the legislation in force, seeking for constant improvement as regards the analysis and implementation of solutions that may enhance the working environment's quality.

2.2.3 Safety, health and the welfare of collaborators are a priority to EDP Energias do Brasil. All collaborators are required to know, comply and provide for the compliance with occupational safety and health, and to inform on any non-compliance therewith.

2.2.4 EDP Energias do Brasil makes available the necessary resources for the constant maintenance and improvement of Occupational Safety and Health.

2.3 Human Capital Development

2.3.1 EDP Energias do Brasil recognizes the merit of each collaborator and offers opportunities to professional development, according to the characteristics, skills and tasks of each one. EDP Energias do Brasil does not allow any decision affecting the professional career of its collaborators to be based solely on a personal relationship.

2.3.2 EDP Energias do Brasil uses clear and defined criteria - based on fair evaluation - to distribute any performance awards.

2.3.3 The constant challenge faced by EDP Energias do Brasil is to identify, attract, develop and maintain talented personnel in its staff.

2.3.4 EDP Energias do Brasil invests in its collaborators' personal and professional development, encouraging them to lead a balanced personal and professional life.

3.1 Human Rights

3.1.1 EDP Energias do Brasil considers human rights to be fundamental and universal principles. Based on this understanding, the company seeks to consolidate its practice of human rights.

3.1.2 Diversity is an essential value embedded in all EDP Energias do Brasil's practices.

3.2

3.2.1 EDP Energias do Brasil undertakes to encourage the respect for equal opportunities to all its collaborators and potential collaborators. All the company's practices, policies and procedures are aimed at preventing any type discrimination and differential treatment on account of race, color, gender, sex, religion, civil status, age, special needs, political trends or any other type of opinion, ethnic origin or social status, place of birth or union membership.

3.2.2 EDP Energias do Brasil undertakes to safeguard the moral integrity of its collaborators, by guaranteeing their right to a clean and safe working environment that strengthens their self-esteem. EDP Energias do Brasil will not tolerate and permit threats or harassments of any type whatsoever, including moral harassment. Moral harassment is a phenomenon that involves the conduct of superiors with someone who reports to them and means the exposure of collaborators to humiliating situations, by means of gestures, words or attitudes that are seriously detrimental to their self esteem, safety and image.

4.1 Prohibition of corrupt practices and bribery

4.1.1 Active and passive corruption is prohibited, whether by means of acts and omissions or by the creation and/or maintenance of aiding or illegal situations. EDP Energias do Brasil and its collaborators will not pay or receive kickbacks.

4.1.2 Collaborators shall not accept or offer gifts, presents, loans, per diems, personal services or bonuses either under the form of preferential treatment for clients, suppliers or any other person or entity related to the Company's businesses, that may come to result in any type of personal benefit or benefit to third parties, to the detriment of the Company's interests.

4.1.3 Collaborators shall not recommend to any customer, even if so requested, the services of suppliers or service renderers or companies that, event indirectly, may be related to the Company's business.

4.1.4 Inventions, utility models, industrial designs and intellectual works in general, developed by the collaborators to the company are the exclusively property of EDP Energias do Brasil.

4.1.5 EDP Energias do Brasil and its collaborators shall not make any cash contributions or any other type of contributions in the name of the company to political parties anywhere in the world.

4.1.6 EDP Energias do Brasil's collaborators agree that they will not involve the company in any political, religious or sectarian situation of any kind whatsoever.

4.1.7 EDP Energias do Brasil and its collaborators shall not have any commercial relationship with suppliers, especially with those who, on account of their position or activity, may directly influence the purchase or sale of goods and services.

4.2 Transactions within the company's scope
4.2.1 Collaborators shall not disclose to third parties nor benefit from material information not disclosed to the public and that may come to influence the market upon decision-making relating to the purchase, sale or keeping of securities in EDP Energias do Brasil's companies.

4.2.2 EDP Energias do Brasil's collaborators shall not use their position, title and influence to have access to confidential information for their own benefit, the benefit of its family or relatives, to the detriment of the company's business or the practice of free competition.

4.2.3 When in possession of privileged information not disclosed to the public so far, collaborators shall not trade securities of companies owned by EDP Energias do Brasil, by strategic partners or companies involved in transactions or operations with EDP Energias do Brasil.

4.2.4 Collaborators shall not take part in external business competing with those of the company.

4.3 Relationship with shareholders 4.3.1 EDP Energias do Brasil's fundamental purpose is to add shareholders' value, by means of optimum professional and economic performance, social responsibility and sustained development.

4.3.2 EDP Energias do Brasil undertakes to ensure equal treatment for its shareholders and to make information available to them, timely, so that decisions can be taken correctly and transparently.

4.3.3 On giving information to its shareholders, individually or in general terms, EDP Energias do Brasil shall provide qualitative and quantitative elements so that economic, financial, social, environmental and sustainability risks may be identified; the company further undertakes to defend and to apply the proper measures in order to eliminate or mitigate the risks involved.

4.3.4 EDP Energias do Brasil has mechanisms and rules on transparency, exemption and impartiality in order to meet the interests of individual shareholders or groups of shareholders.

5.1 Customers

5.1.1 EDP Energias do Brasil and its collaborators will efficiently meet the needs of Customers always in accordance with the Company's mission, purposes and values and respecting Customer's rights.

5.1.2 EDP Energias do Brasil and its collaborators shall provide information clearly, rapidly and accurately, offering equal treatment to all Customers.

5.1.3 EDP Energias do Brasil and its collaborators shall try to satisfy Customers' needs and to overcome their expectations; they will also try to constantly improve the quality and performance of their services by treating their customers respectfully and efficiently.

5.1.4 All questions presented by customers shall be analyzed by EDP Energias do Brasil and the answers shall be given in due time according customers' expectations and needs.

5.2 Suppliers

5.2.1 EDP Energias do Brasil deals only with suppliers that are committed to corporate social responsibility practices in their productive chain, comply with the country's labor and environmental laws, and directly or indirectly do not use child or slave labor

5.2.2 EDP Energias do Brasil encourages its suppliers to observe the rules, safety practices and labor laws in force.

5.2.3 EDP Energias do Brasil undertakes to select and hire its suppliers in accordance with technical, professional and ethical criteria, and to use pre-determined procedures so as to avoid any decisions that may benefit personal interests, friends or relatives, thus assuring optimum cost-benefit relation to customers.

5.2.4 EDP Energias do Brasil undertakes to control the ethical conduct of its suppliers and to adopt the measures that are deemed applicable whenever necessary.

5.3 Environment and sustainability

5.3.1 EDP Energias do Brasil is engaged in activities in the electric power sector. The company respects the environment, the communities in which it operates and complies with environmental laws.

5.3.2 EDP Energias do Brasil's management practices comply with environmental sustainability principles. The company's decision-making process considers the impact of our activities in the relevant regions.

5.3.3 EDP Energias do Brasil uses environmental criteria to analyzing its value chain, controlling and reducing probable impacts and, whenever necessary, providing for the due repair.

5.3.4 EDP Energias do Brasil is committed to expand the use of recyclable and reusable material and equipment, by means of nonharmful technologies.

5.3.5 EDP Energias do Brasil promotes the constant development of efficient technologies, aiming at optimization of resources.

5.3.6 EDP Energias do Brasil encourages its customers, collaborators and society to rationally use electric power.

5.3.7 EDP Energias do Brasil takes part in programs aimed at environmental preservation offered to local communities, the private enterprise and governmental authorities.

5.4 Relationship with the community

5.4.1 EDP Energias do Brasil supports policies that promote human development via friendly relationship between the company and the community.

5.4.2 EDP Energias do Brasil seeks to be conscious of community's needs and to respect its cultural integrity. The company helps improving the community's living standard by means of educational programs or social actions developed by the Company itself or jointly with public and communitarian institutions, non-governmental institutions, schools, health posts among others.

5.4.3 EDP Energias do Brasil gives support to collaborators' participation in the Company's communitarian projects and programs, and respects the work of voluntaries

5.4.4 EDP Energias do Brasil is provided with proper communication channels to inform the community on the risks and perils of electric power whether or not resulting from its inappropriate use so that community becomes aware of the importance of preserving people's physical integrity.