LIGHT S.A.

Corporate Taxpayers ID (CNPJ/MF): 03.378.521/0001-75

Company Registry (NIRE): 33.300.263.16-1
Publicly-Held Company
MATERIAL FACT

LIGHT S.A., pursuant to CVM Instruction 358 of January 3, 2002, hereby informs its
shareholders and the public in general that:
As disclosed on the Companys Material Fact dated August 8, 2013, Light Energia S.A. (Light
Energia), the Companys wholly-owned subsidiary, approved on that date the execution of an
Investment Agreement with RR Participaes S.A. (RR), Cemig Gerao e Transmisso S.A.,
(Cemig GT), Renova Energia S.A. (Renova) and Chipley SP Participaes S.A. (Chipley),
whose objective is to regulate the inclusion of Cemig GT in Renovas controlling group, as well
as the acquisition by Chipley of a portion or all shares issued by Brasil PCH S.A. ("Brasil PCH),
as per Brasil PCHs Share Sales Agreement, entered into between Cemig GT and Petrleo
Brasileiro S.A. Petrobras (Petrobras) on June 14, 2013 and assigned by Cemig GT to
Chipley (Investment Agreement).
On October 28, 2013, with the end of the term to exercise the preemptive right for acquisition of
shares and tag along of the transaction for the acquisition of 49% of Brasil PCH total shares
held by Petrobras, not a single shareholder exercised the preemptive right and only shareholder
Jobelpa S.A., which holds 2% of Brasil PCH shares, exercised its tag along rights .
Consequently, on February 14, 2014, Chipley realized an advance for future capital increase
(AFAC) totaling R$739,943,143.10 by Cemig GT in its capital for the acquisition of 51% of
Brasil PCH shares, concluding this step of the transaction.
On February 20, 2014, the Renovas Board of Directors Meeting approved the capital increase
of up to R$3,545,602,362.02, which depends on the exercise of preemptive right and
subscription

of

unsubscribed

shares

of

other

shareholders

of

Renova,

of

which

R$1,550,071,797.66 would be subscribed and paid-up by Cemig GT or by a Special Purpose

Entity (SPE) appointed by Cemig GT pursuant to the Investment Agreement (Cemig
GTs Increase).
On March 31, 2014, Cemig GT realized the advance for future capital increase directly at
Renova, in the amount of R$810,128,654.56 and, on the same date, it was defined the term for
exercise of preemptive right of other Renovas shareholders as a result of Cemig GTs Increase,
initially scheduled to be concluded on July 29, 2014.
On July 25, 2014, in a Notice to Shareholders disclosed by Renova, the term for exercise of the
preemptive right was postponed, ending today, September 29, 2014.
As a result of the end of the term for exercise of the preemptive right and pursuant to provisions
of the Investment Agreement, Cemig GT executed, today, the subscription and payment of
87,186,035 Renova common shares, upon payment of the advances for future capital increases
realized at Chipley and Renova, in the total amount of R$1,550,071,797.66.
To conclude Cemig GTs Increase and as per the Investment Agreement, RR and Light Energia
assigned their respective preemptive rights to Cemig GT and the price to issue Renova shares
was R$17.7789 per common share.
As a result of the payment of Cemig GT shares and as provided in the Investment Agreement, a
new Shareholders Agreement between RR, Light Energia and Cemig GT, with Renova as
intervening party, was executed on this date.
After the term for subscription of unsubscribed shares, a new meeting of Renovas Board of
Directors will be held to ratify the capital increase. Consequently, depending on the exercise of
the preemptive right and subscription of unsubscribed shares of other Renova shareholders,
Light Energias interest in Renova shall remain between 11.7% and 15.9% of the total capital
stock (currently, 21.86%) and, in terms of common shares, it shall remain between 14.4% and
20.2% (currently, 32.3%), whereby all of its shares shall be linked to the Controlling Group.
The Company will keep its shareholders and the market opportunely and properly informed
through a Notice to Shareholders concerning the next steps of the transaction, such as the
procedures related to unsubscribed shares and revocations.

Rio de Janeiro, September 29, 2014.

Joo Batista Zolini Carneiro
Chief Financial and Investor Relations Officer