TRANSMISSORA ALIANÇA DE ENERGIA ELÉTRICA S.A. CORPORATE TAXPAYER S ID (CNPJ/MF): 07.859.971/0001-30 COMPANY REGISTRY (NIRE): 33.3.0027843-5 SUMMARY OF THE MINUTES OF THE BOARD OF DIRECTORS MEETING HELD ON AUGUST 24, 2012 DATE, TIME AND VENUE: August 24, 2012, at 4:00 p.m., at the Company's headquarters, located at Praça XV de Novembro nº 20, 10º andar, salas 1002 e 1003, Centro, in the city and state of Rio de Janeiro. ATTENDANCE AND CALL NOTICE: The formalities of the call notice having been complied with, the Board of Directors Meeting, on this date, was attended by the following sitting members: Messrs. Djalma Bastos de Morais, Wilson Pereira dos Santos, Pedro Grossi Junior, John Michael Streithorst, Luiz Carlos da Silva Cantídio Júnior, Antônio de Pádua Barbedo, Carlos Roberto Cafareli, Maurício Luis Luchetti, Ernesto Paulo da Silva Nunes, João Almeida dos Santos, Luiz Ricardo da Câmara Lima; and, alternate members, Cristiano Correa de Barros, João Procópio Campos Loures Vale, Eliana Soares da Cunha Castello Branco, Carlos Alberto de Figueiredo Trindade Neto, Luiz Henrique de Castro Carvalho and Jorge Kalache Filho. RESOLUTIONS: After discussing the matters on the agenda, the Board members decided, unanimously and with no restrictions, on the following: (1) Due to the resignation of Domingos Castro Sávio Horta from his position as Chief Financial and Investor Relations Officer, the Board of Directors resolved to elect to the aforementioned position Cristiano Correa de Barros, Brazilian citizen, married, electrical engineer, bearer of identity card MG-477965, issued by the SSP in Minas Gerais, inscribed in the individual roll of taxpayers (CPF) under no. 327.933.916-20, resident and domiciled at Praça XV de Novembro, n 20, 10 andar, salas 1002 e 1003, Centro, in the city and state of Rio de Janeiro. Cristiano Correa de Barros will complete the term of office of Domingos Castro Sávio Horta, who will cease to exercise his duties as an Executive Officer of the Company as of this date, in accordance with his letter of resignation. Consequently, the term of office of the Company s new Chief Financial and Investor Relations Officer will last until the first Board of Directors' Meeting following the 2013 Annual Shareholders Meeting. If Cristiano Correa de Barros is not re-elected after completing his term of office, he will remain in his position as Chief Financial and Investor Relations Officer until the election and investiture of his replacement by the Board of Directors. Cristiano Correa de Barros, hereby elected, declared under penalty of the law, that he is not prevented from performing his duties, that he has not been convicted or is under the effect of any conviction, even if temporarily, of a crime that bars him from holding public office, or of criminal bankruptcy, malfeasance, bribery, graft, embezzlement, crimes against public welfare, financial crimes, antitrust crimes or crimes against the consumer, full faith and credit or property. He also made a solemn commitment to understand, observe and abide by the principles, ethical values and regulations established by the Code of Ethics of Minas Gerais State Civil Servants and Senior Administrators. As a result, the Board of Executive Officers now comprises José Aloíse Ragone Filho (Chief Executive Officer), Cristiano Correa de Barros (Chief Financial and Investor Relations Officer) and Marco Antônio Rezende Faria (Chief Technical Officer).
(2) To approve the affirmative vote to be cast by the Company s legal representatives in the Extraordinary Shareholders Meeting of São Gotardo Transmissora de Energia S.A. to resolve on the amendment of Article 13 and paragraph 1 of said article in the Company s Bylaws, which will now read as follows: Article 13. It is incumbent upon the Board of Executive Officers to carry out all the acts necessary for the day-to-day management of the Company in line with its corporate purpose, even when they involve the direct or indirect responsibility of the Company, pursuant to the limits set by the law and these Bylaws. Paragraph 1. The Company will be represented in court (as plaintiff and defendant) or outside of court through the signature of two (2) Executive Officers, or one (1) Executive Officer and one (1) proxy, or, one (1) or more proxies duly and jointly appointed by two (2) Executive Officers, who will execute all the acts required to accomplish the Company s corporate purpose. The proxy instruments granted by the Company will specify the powers granted to the representatives. (3) To authorize the Company s legal representatives in the Extraordinary Shareholders Meeting of São Gotardo Transmissora de Energia S.A. to vote for the contracting of CEMIG GT to provide proprietary engineering services for the implementation of the electricity transmission facilities related to ANEEL Auction 05/2012 in the amount of up to three hundred and twenty thousand reais (R$320,000.00), within twenty-six (26) months as of the issue date of the work order. (4) To ratify the vote cast in the Extraordinary Shareholders Meeting of the subsidiaries ATE Transmissora de Energia S.A., ATE II Transmissora de Energia S.A. and STE Sul Transmissora de Energia S.A. ("Subsidiaries") approving the opening of the following branches: (a) ATE - branches in the states of São Paulo and Paraná at the following addresses: (i) Rodovia Washington Luiz, Km 280, 66, Bairro Lageado, Araraquara, in the city and state of São Paulo; (ii) Rodovia Raposo Tavares, Km 438, in the city of Assis, state of São Paulo; (iii) Rodovia PR 445, Km 360, Distrito de Irerê, in the city of Londrina, state of Paraná; (b) ATE II - branches in the states of Tocantins and Piauí at the following addresses: (i) BR 153, Km 233, Zona Rural, in the city of Colinas do Tocantins, state of Tocantins; (ii) Rodovia PI 392, Km 2,5, in the city of Ribeiro Gonçalves, state of Piauí; and (iii) BR 020, s/n, Bairro Vila Foca, in the city of São João do Piauí, state of Piauí; and (c) STE - branches in the state of Rio Grande do Sul at the following addresses: (i) Rodovia RS - 344, Estrada Santo Ângelo Buriti - Cruzamento Atafona, in the city of Santo Ângelo, state of Rio Grande do Sul; (ii) Rua São José, s/n- Vila Santos, in the city of Santa Rosa, state of Rio Grande do Sul; (iii) Rodovia RS 529, Km 32 - SE Maçambará, in the city of Maçambará, state of Rio Grande do Sul; and (iv) Rodovia BR 472, Km 576, Distrito Industrial de Uruguaiana, in the city of Uruguaiana, state of Rio Grande do Sul. (5) To authorize the legal representatives of UNISA, in the Extraordinary Shareholders Meeting of ATE II, to vote in favor of the distribution of interim dividends totaling seventy five million, five hundred and seventy-seven thousand, seven hundred and sixty reais and fifty-four centavos (R$75,577,760.54), said dividends to be paid with funds from the statutory reserve established to meet the debt coverage ratio imposed by the company s creditors. It should be noted that the creditors of ATE II exempted the company from complying with said ratio.
(6) To approve the hiring of Abengoa Construção Brasil Ltda, in the amount of up to fifteen million, four hundred and eleven thousand, three hundred and ninety-nine reais and eighty centavos (R$15,411,399.80), with deadline until April 15, 2013, to perform the services related to the expansion of SE São João do Piauí of ATE II Transmissora de Energia S/A, including the installation of a 500 kv switchable reactor bank, 3x60 (180) Mvar, the installation of a 500 kv connection module, circuit breaker and conductor arrangement for the 500 kv switchable reactor bank, 3x60 (180) Mvar, and complementing the general infrastructure module with the installation of a 500 kv switching infrastructure module and a proportional circuit breaker and conductor arrangement for the connection module of the 500 kv switchable reactor bank, 3x60 (180) Mvar. (7) (A) To approve the Company's proposed funding via: (i) the third issue of simple unsecured non-convertible debentures, in up to three series, all of which registered, book-entry and with a nominal unit value of one thousand reais (R$1,000.00), totaling, on the date of issue, two billion, five hundred million reais (R$2,500,000,000.00) ("Offering" and "Debentures", respectively), for public distribution pursuant to Instruction 400 issued by the Brazilian Securities and Exchange Commission ("CVM") on December 29, 2003, as amended ("CVM Instruction 400"), under the best-efforts regime and in accordance with the simplified procedures for the registration of public offerings for the distribution of securities pursuant to CVM Instruction 471 of August 8, 2008, as amended, and the agreement entered into for this purpose on August 20, 2008, between the CVM and ANBIMA (Brazilian Financial and Capital Markets Association). The Offering and Debentures will have the following characteristics: (a) Total Issue Amount: up to two billion, five hundred million reais (R$2,500,000,000.00) on the Issue Date (as defined below), without considering the Supplementary Debentures (as defined below) and the Additional Debentures (as defined below); (b) Number of Issue: the Offering constitutes the Company s third issue of debentures; (c) Number of Series: the Issue will be effected in up to three series, the Debentures distributed in the first series being hereinafter referred to as "First Series Debentures", the Debentures distributed in the second series as "Second Series Debentures" and the Debentures distributed in the third series as "Third Series Debentures". The number of debentures to be allocated to each series will be defined in accordance with investor demand, pursuant to the Bookbuilding Process (as defined below), applying the communicating vessels system; (d) Placement and Distribution Procedure: the Debentures will be publicly offered under a bestefforts regime through the intermediation of Banco Itaú BBA S.A. ("Lead Manager"); (e) Registration for Distribution and Trading: The Debentures will be registered for: (a) distribution in the primary market through (i) the Securities Distribution Module ("SDT"), managed and operated by CETIP S.A. Mercados Organizados ( CETIP ), with financial settlement through CETIP; and (b) trading in the secondary market through: (i) the SND - National Debentures Module, managed and operated by CETIP, with trades settled and Debentures held in electronic custody by CETIP, and/or (ii) Bovespa Fix, managed and operated by the BM&FBOVESPA (Securities, Commodities and Futures Exchange), with trades settled and Debentures held in electronic custody by the BM&FBOVESPA; (f) Number of Debentures: the Company will issue up to two million, five hundred thousand (2,500,000) Debentures, excluding the Supplementary Debentures (as defined below) and the Additional Debentures (as defined below); (g) Supplementary Debentures: pursuant to Article 24 of CVM Instruction 400, the number of Debentures initially offered, excluding the Additional Debentures (as defined below), may be increased by up to fifteen percent (15%), i.e. up to three hundred and seventy-five thousand (375,000) supplementary Debentures ("Supplementary Debentures"), in order to meet surplus demand, if any, during the Offering, pursuant to the option granted by the Company to the Lead Manager, which may only be exercised by the Lead Manager in agreement with the Company. At the discretion of both the Company and the Lead Manager, as verified by the Bookbuilding Process
(as defined below), the Supplementary Debentures may be of the First, Second and/or Third Series Debentures; (h) Additional Debentures: in accordance with paragraph 2, Article 14 of CVM Instruction 400, the number of Debentures initially offered, excluding the Supplementary Debentures, may be increased by up to twenty percent (20%), i.e. up to five hundred thousand (500,000) additional Debentures ("Additional Debentures"), with no need for a new registration request to the CVM, at the discretion of both the Company and the Lead Manager, as verified by the Bookbuilding Process (as defined below), the Additional Debentures may be of the First, Second and/or Third Series Debentures; (i) Nominal Unit Value: the nominal unit value of the Debentures will be one thousand reais (R$1,000.00) on the Date of Issue (as defined below) ("Nominal Unit Value"); (j) Guarantees: The Debentures will have no guarantee of any kind; (k) Bookbuilding Process: the Lead Manager will organize the process for collecting information on investors intentions, pursuant to paragraphs 1 and 2, Articles 23 and 44 of CVM Instruction 400, without advanced orders and with no minimum or maximum lots, to verify investors demand for Debentures at different interest rates ("Bookbuilding Process") in order to jointly define with the Company: (i) the issue or not of each series of Debentures; (ii) the number of Debentures to be allocated to each series; (iii) the final rate of First Series Interest (if First Series Debentures are issued) in accordance with item (r) below; (iv) the final rate of Second Series Interest (if Second Series Debentures are issued) in accordance with item (r) below, and (v) the final rate of Third Series Interest (if Third Series Debentures are issued) in accordance with item (r) below; (l) Monetary Restatement: the Nominal Unit Value of the First Series Debentures will not be subject to monetary restatement, while the Nominal Unit Value (or balance of the Nominal Unit Value, as applicable) of the Second and Third Series Debentures will be restated by the Brazilian Extended Consumer Price Index ("IPCA"), calculated and disclosed by the Brazilian Institute of Geography and Statistics ("IBGE"), as of the Date of Issue (or the date of amortization of the immediately preceding Second or Third Series Debentures, as applicable) until maturity ("Monetary Restatement"), the result of said Monetary Restatement being automatically incorporated into the Nominal Unit Value (or balance of the Nominal Unit Value, as applicable) of the Second or Third Series Debentures, as applicable; (m) Convertibility, Type and Form: the Debentures will be simple, i.e. registered, book-entry and non-convertible, with no issue of certificates. (n) Category: the debentures will be unsecured; (o) Issue Date: the issue date of the Debentures will be defined in the Issue Indenture ("Issue Date"); (p) Term: the First Series Debentures will mature in five (5) years as of the Issue Date ("Maturity of the First Series"), the Second Series Debentures will mature in eight (8) years as of the Issue Date ("Maturity of the Second Series") and the Third Series Debentures will mature in twelve (12) years as of the Issue Date ("Maturity of the Third Series"); (q) Amortization: the Nominal Unit Value of the First Series Debentures will be amortized in a single payment five (5) years as of the Issue Date. The Nominal Unit Value of the Second Series Debentures will be amortized in three (3) equal and consecutive annual installments, having been subject to Monetary Restatement, the first payment being due six (6) years as of the Issue Date, the second payment seven (7) years as of the Issue Date and the third and final payment eight (8) years as of the Issue Date. The Nominal Unit Value of the Third Series Debentures will be amortized in four (4) equal and consecutive annual payments, having been subject to Monetary Restatement, with the first payment due nine (9) years as of the Issue Date, the second ten (10) years as of the Issue Date, the third eleven (11) years as of the Issue Date and the fourth and final payment twelve (12) years as of the Issue Date; (r) Remuneration: (1) the Nominal Unit Value of the First Series Debentures (or balance of the Nominal Unit Value, as applicable) will be remunerated at one hundred percent (100%) of the accumulated variation in the average daily one-day, over extragrupo Interbank Deposit Rate - DI (DI-Over Rate), expressed as an annual percentage based on a year of two hundred and fifty two (252) business days, calculated and disclosed on a daily basis by CETIP, plus a spread to be determined by the Bookbuilding Process, but which may not exceed one
percent (1%) per year of 252 business days ("First Series Interest"), (2) the Nominal Unit Value of the Second and Third Series Debentures (or balance of the Nominal Unit Value, as applicable), having been subject to Monetary Restatement, will be remunerated at an annual percentage based on a year of two hundred and fifty two (252) business days, to be determined by the Bookbuilding Process, but which may not exceed one and fifty-five hundredths of a percent (1.55%) and one and sixty-five hundredths of a percent (1.65%) per annum, respectively, plus the arithmetic mean of the internal rates of return of Series B National Treasury Notes, maturing on August 15, 2024 ("NTN-B 2024") and August 15, 2030 ("NTN-B 2030"), respectively, to be calculated in the five (5) days immediately prior to the Bookbuilding Process based on the rates published by ANBIMA ("Second Series Interest" and "Third Series Interest", respectively, and together with the Monetary Restatement, "Second Series Remuneration" and "Third Series Remuneration", respectively); (s) Payment of Remuneration: tthe First Series Interest will be paid on the Maturity Date of the First Series Debentures. The Second Series Remuneration will be paid on an annual basis as of the Issue Date, the first payment being due in one (1) year as of the Issue Date and the final payment being due on the Maturity Date of the Second Series. The Third Series Remuneration will be paid on an annual basis as of the Issue Date, with the first payment being due in one (1) year as of the Issue Date and the final payment on the Maturity Date of the Third Series; (t) Delinquency Charges: without prejudice to the First Series Interest, the Second Series Remuneration, the Third Series Remuneration and the early maturity of the Debentures, late payments of any amounts due to the holders of the Debentures regarding any obligation arising from same will be subject to (i) delinquent interest of one percent (1%) per month, and (ii) a conventional, irreducible and compensatory fine equivalent to two percent (2%) of the amount in arrears. The delinquency charges set forth herein will incur from the date of non-compliance with the respective obligation until the date of payment, irrespective of any judicial or extrajudicial notice or notification; (u) Rescheduling: the Debentures will not be subject to rescheduling; (v) Optional Early Redemption: the Debentures will not be subject to optional early redemption; (w) Mandatory Early Redemption: upon the occurrence of any mandatory early redemption event provided for in the Issue Indenture, holders of Second and/or Third Series Debentures who so wish may request the early redemption of their outstanding Second and/or Third Series Debentures, as applicable, from the Company. The Second and/or Third Series Debentures will be redeemed at their Nominal Unit Value, plus Second and Third Series Remuneration, as appropriate, calculated pro rata temporis as of the date of issue or the date of the immediately preceding Second or Third Series Remuneration, as appropriate, until the due date of the mandatory early redemption of the Debentures. There will be no payment of any premium to holders of Second and/or Third Series Debentures; (x) Optional Acquisition: the Company may acquire outstanding Debentures pursuant to paragraph 3, Article 55 of Brazilian Corporation Law, provided that it complies with the rules issued by the CVM and with ANBIMA's Code of Regulations and Best Practices for the Fixed Income Novo Mercado of October 1, 2011, and the Offering documents, said acquisition to be recognized in the Company s management report and financial statements. The Debentures acquired by the Company may be canceled, held in treasury, or once again placed on the market. Debentures acquired by the Company and held in treasury, if and when placed on the market again, will be entitled to the same Remuneration as the other outstanding Debentures in the same series; (y) Subscription Price and Payment in Full: the First Series Debentures will be subscribed and paid in full, on the primary market, at their Nominal Unit Value plus First Series Interest, calculated on a pro rata temporis basis as of the Issue Date until the subscription and payment date ("First Series Subscription Price"). The Second Series Debentures will be subscribed and paid in full, on the primary market, at their Nominal Unit Value plus Second Series Interest, calculated on a pro rata temporis basis, as of the Issue Date until the subscription and payment date ("Second Series Subscription Price"). The Third Series Debentures will be subscribed and paid in full, on the primary market, at their Nominal
Unit Value plus Third Series Interest, calculated on a pro rata temporis basis as of the Issue Date until the subscription and payment date ("Third Series Subscription Price"). The Debentures may be subscribed at any time within the placement period to be established by the Company and the Lead Manager, payment being in cash, upon subscription, in local currency, at the Subscription Price of the First, Second or Third Series, as the case may be, in accordance with CETIP s settlement rules and procedures; (z) Early Maturity: upon the occurrence of any early maturity event provided for in the Issue Indenture and subject to the terms thereof, the trustee of the Issue will declare the early maturity of all obligations arising from the Debentures and demand immediate payment by the Company of the Nominal Unit Value (or balance of the Nominal Unit Value, as applicable) of each Debenture, plus First Series Interest and Second and/or Third Series Remuneration, as the case may be, calculated on a pro rata temporis basis as of the Issue Date or the payment date of the immediately preceding First Series Interest and Second or Third Series Remuneration, as applicable, until the payment date, in addition to interest and charges on arrears, if any, irrespective of any judicial or extrajudicial notice or notification; and (aa) Allocation of Proceeds: The net proceeds of the Offering will be used to refinance the Company s debt and acquire assets, and (ii) the Company s sixth issue of promissory notes, in a single series, with a nominal unit value of two million five hundred thousand reais (R$2,500,000.00), totaling, on the date of issue, up to one billion two hundred million reais (R$1,200,000,000.00) ("Promissory Notes"), for public distribution with restricted placement efforts, pursuant to CVM Instruction 476 of January 16, 2009, as amended ("CVM Instruction 476"), under a firm subscription guarantee with the following characteristics: (a) Allocation of Proceeds: the net proceeds from the Promissory Notes issue will be used to refinance the Company s debt; (b) Number of Promissory Notes, Nominal Unit Value, Subscription Price and Payment in Full: The Company will issue up to four hundred and eighty (480) Promissory Notes, in a single series, with a nominal unit value of two million, five hundred thousand reais (R$2,500,000.00), on the issue date, given that the issue date of the Promissory Notes will be the date on which they are effectively subscribed and paid in full, with subscription and payment taking place on the same date. Payment of the Promissory Notes will be in cash in local currency; (c) Remuneration: The nominal unit value of the Promissory Notes will not be adjusted for inflation. Holders of the Promissory Notes will be entitled to interest of one hundred percent (100%) of the average Interbank Deposit rate (over extra grupo), expressed as an annual percentage based on a year of two hundred and fifty-two (252) business days ( DI Rate ), calculated and disclosed on a daily basis by CETIP in the daily bulletin available on its website (http://www.cetip.com.br) ( Remuneration of the Promissory Notes ). The Remuneration of the Promissory Notes will accrue on the nominal unit value of the Promissory Notes from the issue date until the maturity or early redemption date, whichever occurs first (or on the date of early redemption of the Promissory Notes upon the occurrence of any of the default events described in the Promissory Notes instrument), and will be calculated exponentially and cumulatively on a pro rata temporis basis on the number of business days elapsed, in accordance with the criteria defined in the Caderno de Fórmulas de Notas Comerciais e Obrigações - CETIP21, available for consultation on CETIP s website (http://www.cetip.com.br) ( Caderno de Fórmulas CETIP21 ), and in accordance with the formula included in the Promissory Note instruments; (d) Form, Maturity Date, Amortization and Payment of Remuneration: the Promissory Notes will be issued physically and will mature in up to one hundred and eighty (180) days as of the issue date. The nominal unit value of the Promissory Notes will be paid in full on the maturity or the early redemption date, whichever occurs first (or on the date of the early redemption of the Promissory Notes due to the occurrence of any of the delinquency events described in the Promissory Notes instrument), together with the Remuneration of the Promissory Notes; (e) Optional Early Redemption: Subject to the terms and conditions established in the Promissory Note instruments, the Company may, at its sole discretion and at any time, carry out the total or partial early
redemption of the Promissory Notes, as of thirty (30) days from the Issue Date, provided that CETIP and holders of the Promissory Notes are duly informed at least five (5) business days prior to the redemption date, without the payment of any premium to the holders. Pursuant to paragraph 2, Article 7 of CVM Instruction 134 of November 1, 1990, as amended, early redemption will be carried out with the express consent of the holders of outstanding Promissory Notes, which will be mentioned in the Promissory Note instruments such that by subscribing, paying in full or acquiring the Promissory Notes, the holders automatically give their advance approval of early redemption; (f) Registration for Distribution and Trading: The Promissory Notes will be registered for: distribution in the primary market through the Securities Distribution System (SDT), administered and operated by CETIP, with settlement through CETIP; and (b) trading in the secondary market through CETIP21, administered and operated by CETIP, with trades settled and the Promissory Notes held in electronic custody by CETIP, in compliance with the requirements and procedures laid down in CVM Instruction 476. The Promissory Notes may only be traded among qualified investors, as defined in CVM Instruction 476, only ninety (90) days after their subscription or acquisition, pursuant to Article 13 of CVM Instruction 476; and (g) Guarantee: the Promissory Notes will not have any type of guarantee; (B) that, without prejudice to the Debentures Offering, the Promissory Notes issue will only occur in the event of the Debentures Offering not being registered within the period specified in paragraph 4, Article 14 of CVM Instruction 400 for use of financial information for the second (2 nd ) quarter of 2012 and (C) that the Company s Board of Executive Officers is authorized to negotiate all terms and conditions that may be applicable to the Debentures and/or Promissory Notes, as the case may be, as well as to perform all acts and sign all necessary documents to effect the issue of the Debentures and/or Promissory Notes, as the case may be, and to determine, after submitting the matter to the Company s Finance Committee, the final rate of return for the Debentures obtained through the Bookbuilding Process and the final number of Debentures and/or Promissory Notes to be issued under their respective issues, as applicable, within the limits set forth herein. (8) to ratify the vote cast by the Company's legal representatives in the Extraordinary Shareholders Meeting of ATE III Transmissora de Energia S/A which approved the contracting of a credit line from the Interamerican Development Bank (IDB) in the amount of approximately nineteen million two hundred and six thousand reais (R$19,206,000.00) to reinforce the substation in Itacaiúnas; (9) After discussing the matter, the Company s Board of Directors unanimously and without restrictions approved the calling of an Extraordinary Shareholder s Meeting to be held in mid- September 2012 with the following agenda: (i) The election, by the minority shareholders, of a sitting member of the Company's Fiscal Council, and a respective alternate member, due to a member s resignation, (ii) Approval of the 3rd issue of debentures and the 6th issue of promissory notes, said notes to be issued only if it proves impossible to complete the debenture issue by October 31, 2012, (iii) Amendment to Article 5 of the Bylaws to reflect the new amount of the Company's capital following the capital increase resolved by the Board of Directors Meeting of July 19, 2012, (iv) Consolidation of the Company's Bylaws. This is a free translation of the Minutes of Transmissora Aliança de Energia Elétrica SA s Board of Directors Meeting of August 24, 2012, the full text of which is drawn up in the Company s records.