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A SOLID, RENEWED COMPANY

Chesf ended the year 2017 stronger, the result of work with well-defined strategic guidelines. We worked hard on our 2017-2021 Business Plan and achieved important results for the Company.

Internally, we invested in organizational restructuring, which gained simpler and more agile processes, in addition to having recorded a significant cost reduction. We also invested in technology. New management systems are being implemented to ensure that the Company has in place integrated and standardized processes, making information more secure from a decision-making standpoint.

We reinforced our commitment to ethics and transparency in our actions by revising our by-laws so that we comply with Law 13,303/2016 (Law of State-owned companies), which governs issues related to transparency and governance mechanisms, and launched our Consequences Policy, which establishes corporate anti-corruption commitments.

In the operation, not only have we managed to resume delayed and suspended projects, but also reduced operating costs, adjusting them to revenues without jeopardizing the growth of the business. The resumption of financial balance and commitment to delivering the projects attracted new investors, placing the Company on a new level in the financial market.

For the coming year, the challenges continue. The year when we celebrate seventy years be decisive for the privatization process of the Eletrobras companies - an initiative that will certainly contribute to our growth. It will also be a year for us to establish ourselves in the market as a benchmark in solar energy generation. Pilot projects were initiated, the Solar Petrolina and Solar Fotovoltaica Flutuante platforms on the Sobradinho reservoir (which together total 8 MW) and a solar thermal energy project, which will put us at the forefront of the market. We have already made great progress in contributing to the development of our country’s energy sector. And we need to advance even further!