2Q13 Results

This presentation may contain statements that represent expectations about future events or results according to Brazilian and international securities regulators. These statements are based on certain assumptions and analyses made by the Company pursuant to its experience and the economic environment, market conditions and expected future events, many of which are beyond the Company's control. Important factors that could lead to significant differences between actual results and expectations about future events or results include the Company's business strategy, Brazilian and international economic conditions, technology, financial strategy, developments in the utilities industry, hydrological conditions, financial market conditions, uncertainty regarding the results of future operations, plans, objectives, expectations and intentions, among others. Considering these factors, the Company's actual results may differ materially from those indicated or implied in forward-looking statements about future events or results. The information and opinions contained herein should not be construed as a recommendation to potential investors and no investment decision should be based on the truthfulness, timeliness or completeness of such information or opinions. None of the advisors to the company or parties related to them or their representatives shall be liable for any losses that may result from the use or contents of this presentation. This material includes forward-looking statements subject to risks and uncertainties, which are based on current expectations and projections about future events and trends that may affect the Company's business. These statements may include projections of economic growth, demand, energy supply, as well as information about its competitive position, the regulatory environment, potential growth opportunities and other matters. Many factors could adversely affect the estimates and assumptions on which these statements are based.

Disclaimer

Creation of CPFL Renováveis

651.5

Development Acquisition 12/31/2013 (1) 2016 Assets with PPA

198

328.2

1,153.1

254

1,735.3

328 MW currently under construction

# 1 Renewable Energy Player in Brazil, with 1.7GW of contracted capacity (67% in operation)

3.8 GW high quality pipeline

Regionally diversified portfolio (presence within 8 states) with presence in 4 sources

Contracted Capacity Installed capacity (MW)

(1) Considers the conclusion of the works of 7 (seven) wind farms of the Santa Clara Complex, totalling188 MW which are ready to generate energy, and are entitled to the revenue corresponding to the billing contracted in the Reserve Energy Auction (LER) 2009 – still pending the conclusion of the works of ICG (Deployment of Transmission Exclusively of the Interest of Generation Plants for Shared Connection)

(2) Does not include Rosa dos Ventos ,operating asset, acquired in June/13 which still awaits compliance with contractual provisions before conclusion

Overview of CPFL Renováveis

Long-term PPAs and authorizations/concessions

304.0

197.5

254.0

• Company’s operating portfolio in the 2Q13 was significantly increased by 27.4%, when compared to the 2Q12

(1) Does not include Rosa dos Ventos ,operating asset, acquired in June/13 which still awaits compliance with contractual provisions before conclusion

Small Hydro Plant (MW)

Solar (MWp)

Wind (MW)(1)

Total in Operation (MW) (1)

Biomass (MW)

2Q12 2Q13

307.6 326.6

2Q12 2Q13

367.6 555.5

2Q12 2Q13

0.0 1.1

2Q12 2Q13

905.2 1153.1

2Q12 2Q13

230.0 270.0

Portfolio per source

27.4%

Track Record Execution

Source: ANEEL and Company. (1) Difference between total contracted capacity of 1,735MW and 1,481MW (under construction + acquisitions) refers to assets that shall start operation by 2016. (2) No Considers Rosa dos Ventos projects acquired in operation, incorporation of which is in the process of being concluded. (3) Does not include Rosa dos Ventos acquired in operation and still awaits compliance with contractual provisions before conclusion.

Fusion

2Q13 Highlights

1,153 MW of installed capacity in operation, 27% increase when compared to the 2S12 (905MW)

1S13 Net Revenue reached R$ 416 million, 45%

growth if compared to the 1S12

Rosa dos Ventos' Acquisition, in June, 2013, with two operating assets within Ceará state, totaling 13.7 MW of installed capacity

1S13 Ajusted EBITDA reached R$ 285 million, with margin

of 69% and 66% increase

1S13 investments reached R$ 554 million

CPFL Renováveis S.A. has been traded in the BM&F Bovespa New Market since July 19, 2013 under ticker CPRE3

On June 18, 2013, we acquired 100% of Rosa dos Ventos shares with 13.7 of installed capacity in two operating assets within Ceará state (1);

CE

Aracati

CE

Aracati

Rosa dos Ventos

Assets SIIF Bons Ventos CPFL R

Installed Capacity 13.7 MW

Load Factor (average) 39.0%

Physical Guarantee(average) 5.36 MWm

(1) Acquisition awaits fulfillment of contractual conditions for completion (2) data-base jun/2013

Canoa Quebrada Lagoa do Mato

10.5 MW 3.23 MW

4.10 MWm 1.26 MWm

R$ 350.81 R$ 309.32

DEC/2008 JUN/2009

3.31 MW 1.43 MW

2028 2029

Installed Capacity

Physical Guarantee

PPA (PROINFA) (2)

Start of Commercial Operation

Energy Contracted

Term of PPA

Acquisition of Rosa dos Ventos

Operational Data

2Q12 2Q13

263 316

0 0.3

195 164

89 161

SHP

SOL

WIND

BIO

546

1S12 1S13

592.0 644.0

0 0.6 343.0

478.0 122.0

182.0

Energy Generated per Source (GWh)

640

1,058

1,304

In 1S13 the CPFL Renováveis reached 1,304 GWh of generated energy, a 23.3% increase compared to the same period of 2012, due to growth in the portfolio in operation

Note: The energy generation data does not consider the Santa Clara Complex, which is ready to generate energy and has been receiving the revenue of its contracts – conclusion of the construction of ICG still pending

17.2%

23.3%

Net Revenue

The good performance of net revenues was increased by the assets that entered in operation in 2012 (Bio Ipê, Bio Pedra, Santa Clara Wind Farm, Solar Plant Tanquinho and SHP Salto Góes), in addition to the contribution of acquisitions of Bons Ventos S.A. and the Ester Plant that was incorporated in June

and October 2012

Net Revenue

42% SHP

0.6% Solar

12% Bio

45% Wind

2Q12 2Q13

151.1 186.7

1S12 1S13

285.8 415.7

23.5%

45.4%

Per Source

• Increase mainly explained due to extraordinary expenses energy purchase and charges

• Furthermore, CPFR Renováveis presented extraordinary expenses with energy purchase and sector charges of R$ 22.8 million in 2Q13 and R$ 46.0 million in 1S13

Cost of energy generation and General and Administrative Expenses

C

osts

– R

$ m

m

Expe

nse

s –

R$

mm

2Q12 2Q13

70.9 111.0

56.5%

1S12 1S13

130.5

230.6

76.6%

2Q12 2Q13

48.3 64.7

33.8%

1S12 1S13

91.4 118.4

29.6%

Ebitda Ajusted2T13

EBITDA

171.4 129.9

46.0 16.3 239.0

EBITDA 2Q12

Net Revenue Extraordinary expenses

PMSO and others

EBITDA 2Q13

39.4%

EBITDA 1S12

Net Revenue Extraordinary expenses

PMSO and others

EBITDA 1S13

60.8% 52.9%

60.0% 57.5% Margem EBITDA

91.9 35.6 98.7 22,8 6.0

EBITDA Margin

7.4%

• Increased portfolio in operation (R$ 29.6 million)

• Extraordinary expenses (R$ 22.8 million)

65.1%

121.5

Ebitda Ajusted1S13

68.6%

285.0

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EBITDA Ajusted 1S13

• Increased portfolio in operation (R$ 113.6 million)

• Extraordinary expenses (R$ 46.0 million)

• CPFL Renováveis structured itself to increase its asset portfolio

• Costs and expenses while many assets still under construction

• Extraordinary expenses (R$ 22.8 million in the 2Q13 and R$ 46.0 million in the 1S13)

• 1st semester sazonality results (generally inferior to 2nd semester)

Net Results

2Q12 2Q13

(5.5)

(51.6) -837%

1S12 1S13

5.5

(66.8)

2013 2014 2015 2016 2017 2018+

Debt Amortization (R$ mm)

• Average maturity: 6.8 yeas • Average nominal cost: 7.61% (98.6% of CDI)

Debt Profile

(1) refers to funds obtained for projects under construction that have not yet obtained the disbursements of its long-term debt

Debt Profile (June, 2013)

Bridge Loans (1)

CDI 29%

Fixed 13%

TJLP 53%

TJ6 3%

IGPM 2%

3,854.4

777.5

3,076.9

4,657.8

528.3

4,129.5

3,504.5

349.9

3,569.5

1,088.3

June 30, 2012 June 30, 2013

Long Term Cash Short term Net debt Net debt/Ebitda 7.2x

Net Debt (R$ million) Debt by Indexator(%)

Projects under Construction

92% concluída

Start of operation

Installed Capacity (MW)

Assured Energy(MWm)

Financing PPA

3Q13 50 18.0 BNDES (contracted and partially disbursed) ACL – 20 years

UTE Alvorada

92% concluded

Projects under Construction

UTE Coopcana

95% concluded

Start of operation

Installed Capacity (MW)

Assured Energy(MWm)

Financing PPA

3Q13 50 18.0 BNDES (contracted and partially disbursed) ACL - 20 years

Projects under Construction

Complex dos Ventos II

82% concluded

Start of operation

Installed Capacity (MW)

Assured Energy(MWm)

Financing PPA

3Q13 30 15.0

BNDES (under approval)

(bridge - contracted and

disbursed)

LER aug/10 - 20 years

1) Macacos, Pedra Preta, Costa Branca e Juremas;

Start of operation

Installed Capacity (MW)

Assured Energy(MWm)

Financing PPA

4Q13 78.2 37.5

BNDES (bridge - contracted and

partially disbursed, long term under analysis)

LFA aug/10 - 20 years

Projects under Construction

Complex Macacos I1

61% concluded

1) Atlântica I, II, IV e V;

Projects under Construction

61% concluída

Start of operation

Installed Capacity (MW)

Assured Energy(MWm)

Financing PPA

4Q13 120 52.7

BNDES (bridge contracted and

disbursed, long term under analysis)

(bridge - contracted and disbursed)

LFA 2010 - 20 years

Complex Atlântica1

61% concluded

Start of operation 1Q16 3Q16

Installed Capacity (MW) 82.0 172.0

Assured Energy(MWm) 40.2 89.0

Financing BNDES (being structured)

BNDES (being structured)

PPA ACL - 19 years ACL - 20 years

1) Campo dos Ventos I, III, V; 2) Ventos de São Benedito, Ventos de Santo Dimas, Santa Mônica, Santa Úrsula São Domingos e Ventos de São Martinho;

Projects under Construction

10% concluded

Complex Campo dos Ventos1

8% concluded

Complex São Benedito2

Lock-up: • 8 months for 100% of shareholding interest for selling

shareholders, FIP Brasil Energia and Previ

• 6 months for 100% of shareholding interest for Company, controlling shareholders and management

• Additional Lock-up of 6 months for 60% of shareholding interest for selling shareholders, FIP Brasil Energia, Previ, controlling shareholder and management

Ticker: CPRE3

Listing Segment: BM&Bovespa new market

• The Company concluded its Initial Public Offering (IPO)(1) on July, 2013

• Total amount of R$ 900 million: • R$ 350 million as primary offering • R$ 550 million as secondary offering

Capital Markets

(1) The offering is still under way at this time, in the so-called stabilization period, hence the closing announcement has not been published until this date.

9.4% 9.2% 7.6% 5.0% 3.2% 2.5% 63.0% n.a.

5.6% 5.5% 7.1% 3.0% 1.9% 1.5% 59.0% 9.1%

Prior to Offering

After Offering

Market

n.a.

7.3%

Shareholder structure

Quotations and Charts

• Currently, the Company’s market value is equivalent to R$ 5.3 billion

• More than 4.7 million were traded in shares (~ R$ 56 million)

• Average daily volume of 262 thousand shares (~ R$ 3 million)

Volume (amount) Price (R$)

Contacts

Closing Rate: 08/13/2013: R$ 12.14

Market Value R$ 5.34 Billion | US$ 2.31 Billion

Miguel Saad

President Director Marcelo Souza

Financial and Investor Relations Director Maria Carolina Gonçalves

Investor Relations Superintendent Daniele de Oliveira

Investor Relations Analyst Priscila de Oliveira

Investor Relations Analyst E-mail: ri@cpflrenovaveis.com.br Telephone: 11- 3157-9305 Press Agency RP1 Comunicação Empresarial E-mail: selmasantos@rp1.com.br Telphone: 11-5501-4655

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