LIGHT S.A. CORPORATE TAXPAYER ID (CNPJ/MF): 03.378.521/0001-75 COMPANY REGISTRY (NIRE): 33.3.

0026316-1 PUBLICLY-HELD COMPANY EXCERPT OF THE MINUTES OF THE BOARD OF DIRECTORS MEETING OF LIGHT S.A., HELD ON MARCH 2, 2012, DRAWN UP IN SUMMARY FORM, IN ACCORDANCE WITH PARAGRAPH 1 OF ARTICLE 130 OF LAW 6,404 OF DECEMBER 15, 1976 (BRAZILIAN CORPORATE LAW). 1. Date, time and venue: March 02, 2012, at 2:30 p.m., at the headquarters of Light S.A., located at Avenida Marechal Floriano, 168, Centro, in the city and state of Rio de Janeiro (Company). 2. Attendance: Sitting board members Sergio Alair Barros, Chairman of the Board, Andr Fernandes Berenguer, Djalma Bastos de Morais, Cristiano Correa de Barros, Rutelly Marques da Silva, David Zylbersztajn, Raul Belens Jungmann Pinto, Carlos Alberto da Cruz and Elvio Lima Gaspar, and deputy member in office Csar Vaz de Melo Fernandes attended the meeting. Deputy members Fernando Henrique Schuffner Neto, Wilson Borrajo Cid, Marcelo Pedreira Oliveira, Joaquim Dias de Castro, Almir Jos dos Santos and Magno dos Santos Filho, as well as Vnia Souza and Eliana Santos, representing KPMG Auditores Independentes, and the members of the Fiscal Council Eduardo Grande Bittencourt, Aristteles Luiz Mendes Vasconcellos Drummond, Marcello Lignani Siqueira and Isabel da Silva Ramos Kemmelmeier also attended the meeting but they did not vote. The attorney Cludia de Moraes Santos was invited to serve as secretary of the meeting. The Companys Chief Executive Officer, Jerson Kelman, and the Executive Officers Joo Batista Zolini Carneiro, Paulo Roberto Ribeiro Pinto, Paulo Carvalho Filho, Jos Humberto Castro, Evandro Leite Vasconcelos and Ana Silvia Corso Matte also attended the meeting. 3. Agenda and Resolutions: 3.8. Agreement E-011/2012 (Light S.A. and Light ESCO S.A.) Appointment of the Advisory Committee and Board of Executive Officers members of the Maracan Solar Consortium By recommendation of the Management Committee, the Board of Directors unanimously approved and recommended that the Companys representatives at the Extraordinary Shareholders Meeting of Light ESCO Prestao de Servios S.A. (Light ESCO) approve the appointment of Light ESCOs representatives to compose the management of the Maracan Solar Consortium, with a tree-year office term: a) Advisory Committee 1st sitting member: Marco Antnio Donatelli; 1st deputy member: Eduardo Lana de Paula; 2nd sitting member: Mirele Mascarenhas; 2nd deputy member: Francisco Faria; b) Board of Executive Officers Chief Executive Officer: Flvia da Silva Silveira, pursuant to agreement E011/2012 of February 13, 2012. 3.9. Agreement E-012/2012 (Light S.A. and Light ESCO S.A.) Renewal of term of office of the Executive Officer of Companhia de Eficincia Energtica S.A. EBL appointed by Light ESCO S.A. By recommendation of the Management Committee, the Board of Directors unanimously approved and recommended that the Companys representatives at the Extraordinary Shareholders Meeting of Light ESCO approve: the appointment, by Light ESCO, on the Board of Directors of Companhia de Eficincia Energtica S.A. (EBL), to elect Mr. Mrio Csar Javaroni for the position of Executive Officer of EBL, with a term of office of two (02) years, in accordance with agreement E012/2012 of February 13, 2012. 3.11. Agreement F-005/2012 (Light S.A. and Light S.E.S.A.) Renewal of Working Capital Credit Facility with Banco do Brasil S.A. By recommendation of the Finance Committee, the Board unanimously approved and recommended that the Board members appointed by the Company on the Board of Directors of Light S.E.S.A. renew the working capital credit facility with Banco do Brasil S.A. under the
1

following conditions: (a) Borrower: Light S.E.S.A.; b) Institution: Banco do Brasil S.A.; c) Amount: up to one hundred and fifty million reais (R$150,000,000.00), to be withdrawn by the Borrowers needed ; d) Term: twelve (12) months; e) Cost: to be defined at the moment of each withdrawal, pursuant to agreement F-005/2012 of March 2, 2012. 3.14. Agreement F-008/2012 (Light S.A. and Light Energia S.A.) BNDES Financing for the 2011-2012 Investment Plan of Light Energia S.A. By recommendation of the Finance Committee, the Board unanimously approved and recommended that the Companys representatives at the Extraordinary Shareholders Meeting of Light Energia S.A. approve a financing line from BNDES totaling approximately thirty-five million, five hundred and sixty-four thousand reais (R$35,564,000.00) for the 20112012 Investment Plan of Light Energia S.A., pursuant to the draft of the Financing Agreement and the BNDES Board of Executive Officers Resolution 113/2012, under the following conditions: a) Borrower: Light Energia S.A.; b) Intervening party: Light S.A.; c) Counterparty: BNDES; d) Volume: thirty-five million, five hundred sixty-four thousand reais (R$35,564,000.00); e) Purpose: to fund the Investment Plan of Light Energia S.A. for 2011 and 2012; and f) Characteristics of the Sub-credits: Sub-credit 1: investments to improve the energy efficiency of the Santa Branca, Ilha dos Pombos, Fontes Novas, Pereira Passos and Nilo Peanha hydroelectric power plants, as well as of the Vigrio and Santa Ceclia pumping stations, and of the Operations Center, by replacing obsolete materials and carrying out the necessary works; Amount: twenty nine million, six hundred and twenty thousand reais (R$29,620,000.00); Financial cost: Long-term interest rate (TJLP) + 1.81% per annum; Participation of BNDES: 80%; Effectiveness period: by March 15, 2013; Grace period: by March 15, 2013; and Amortization: up to sixty (60) months; Sub-credit 2: Brazilian-made machinery certified by the BNDES; Amount: five million, nine hundred and forty-four thousand reais (R$5,944,000.00); Financial cost: Long-term interest rate (TJLP) + 1.81% per annum; Effectiveness period: by March 15, 2013; Grace period: up to March 15, 2013; and Amortization: up to sixty (60) months; Guarantees: 3.42% of Light Energia S.A.s net operating revenue; Corporate Guarantee of Light S.A., pursuant to agreement F-008/2012 of March 2, 2012. 3.17. Financial Statements for the fiscal year ended December 31, 2011 of Light Servios de Eletricidade S.A., Light Energia S.A. and Light S.A. 3.17.1. LIGHT S.E.S.A. By recommendation of the Audit Committee, the Board unanimously approved and recommended that the Companys Board members appointed by the Company on the Board of Directors of Light S.E.S.A. approve the proposal to be submitted to the Annual Shareholders Meeting concerning: a) the management report for fiscal year 2011; b) the accounts of the Board of Executive Officers Financial statements for fiscal year ended 2011; c) the income allocation; d) the distribution of dividends to be paid by October 31, 2012; e) the capital budget; f) the managements overall annual compensation; and g) the call for the Annual Shareholders Meeting of Light S.E.S.A. The Board also approved the favorable vote of the Company at the Annual Shareholders Meeting of Light S.E.S.A. that will resolve on item 3.17.1. 3.17.2. Light Energia S.A. By recommendation of the Audit Committee, the Board unanimously approved and recommended that the Companys representatives at the Annual Shareholders Meeting of Light Energia S.A. approve the proposal of the Board of Executive Officers concerning: a) the management report for fiscal year 2011; b) the accounts of the Board of Executive Officers Financial statements for fiscal year ended 2011; c) the income allocation; d) the distribution of dividends to be paid by October 31, 2012; e) the capital budget; f) the managements overall annual compensation; and g) the call for the Annual Shareholders Meeting of Light Energia S.A.

The Board also approved the favorable vote of the Company at the Annual Shareholders Meeting of Light Energia S.A. that will resolve on item 3.17.2. 3.17.3. Light S.A. Vnia Souza and Eliana Santos, representatives of KPMG Auditores Independentes, presented the independent auditors report on the Companys financial statements for fiscal year 2011. The Chief Financial and Investor Relations Officer, Joo Batista Zolini Carneiro, presented the Board of Executive Officers proposal related to: a) the management report for fiscal year 2011; b) the accounts of the Board of Executive Officers Financial statements for fiscal year ended 2011; c) the income allocation; d) the distribution of dividends to be paid by October 31, 2012; e) the capital budget; f) the managements overall annual compensation; and g) the call for the Companys Annual Shareholders Meeting. The Chairman of the Fiscal Council, Mr. Eduardo Grande Bittencourt, stated that the Fiscal Council has examined the Companys financial statements for the fiscal year ended December 31, 2011 and the management report, and that the Fiscal Council is ready to issue an opinion as soon as the Board of Directors approves them. By recommendation of the Audit Committee, the Board unanimously approved the Board of Executive Officers proposal and its submission to the Companys Annual and Extraordinary Shareholders Meeting, as well as the call for the Companys Annual and Extraordinary Shareholders Meeting to be held on a timely manner. 3.18. Form of Payment of Proposed Dividends. The Board of Executive Officers presented the proposal, to be submitted to the Companys Annual Shareholders Meeting, for the payment of dividends totaling one hundred eighty-one million, five hundred one thousand, three hundred and thirteen reais and forty centavos (R$181,501,313.40), representing eighty-nine cents (R$0.89) per share, of which ninety million, seventy-nine thousand, three hundred and sixty-one reais and ninety-eight centavos (R$90,079,361.98) refer to the 2011 results, and ninety-one million, four hundred twenty-one thousand, nine hundred and fifty-one reais and forty-two centavos (R$91,421,951.42) refer to the profit reserve on the balance sheet of December 31, 2011. The Audit Committee recommended the approval of the Board of Executive Officers' proposal at the Annual Shareholders Meeting. The Board unanimously approved the submission of this proposal to the Companys Annual Shareholders Meeting. 3.19. Proposal for the Overall Annual Compensation of the Management and Fiscal Council. By recommendation of the Human Resources Committee, the Board of Executive Officers presented the proposal for overall annual compensation of the management of the Company, Light S.E.S.A. and Light Energia S.A. in the total amount of fifteen million, nine hundred ninety-eight thousand, five hundred and ninety-three reais (R$15,998,593.00), and for individual compensation of the Fiscal Councils sitting members in the amount of seven thousand and forty-five reais (R$7,045.00), and of the deputy members in the amount of three thousand, five hundred and twenty-two reais (R$3,522.00), to be paid on a monthly basis. The Board unanimously approved the submission of this proposal to the Companys Annual Shareholders Meeting to be held on a timely matter. The Board of Directors delegated to the Companys Human Resources Committee the breakdown of the above-mentioned amounts.

3.20. Re-ratification of the Overall Annual Compensation for the Companys Management for fiscal year 2011. The Board unanimously approved the submission of the proposal to the Companys Shareholders Meeting, to be held on a timely matter, for the re-ratification of the overall annual compensation of the Companys management for fiscal year 2011, increasing it by the total annual amount of two hundred sixty-eight thousand, three hundred and thirty-one reais (R$268,331.00). 3.21. Economic Feasibility Study for the Accounting of Deferred Tax Credits. By recommendation of the Audit Committee, the Board approved and recommended that the Board members appointed by the Company on the Board of Directors of Light S.E.S.A. approve the proposal of the Board of Executive Officers concerning the Economic Feasibility Study, and, based on this study, the Deferred Assets will be used in up to six (06) years. 3.22. Change in the Board of Executive Officers Composition. The Board unanimously approved the CEOs proposal for removing Mrs. Ana Silvia Corso Matte from her position as the Human Resources Officer, and electing Mr. Fernando Antnio Fagundes Reis, Brazilian, married, bachelors degree in Law, Identity Card M3.445.200 SSP/MG, Individual Taxpayer ID (CPF/MF) 628.925.096-53, with office at Avenida Marechal Floriano 168, Centro, CEP 20080-002, in the City and State of Rio de Janeiro, to hold the position of Human Resources Officer, in addition to his current position of Legal Officer, as from March 5, 2012, at Light S.E.S.A. and Light Energia S.A., for the remaining office term, i.e. up to August 7, 2012, maintaining all other officers and their corresponding departments. 3.22.1. Executive Board of Light Servios de Eletricidade S.A. In view of the approval of the removal of Mrs. Ana Silvia Corso Matte from her position as Human Resources Officer of Light S.E.S.A., this Board unanimously approved and recommended that the Board members appointed by the Company on the Board of Directors of Light S.E.S.A. approve the removal of Mrs. Ana Silvia Corso Matte for her position as Human Resources Officer and the election of Mr. Fernando Antnio Fagundes Reis, Brazilian, married, bachelors degree in Law, Identity Card M3.445.200 SSP/MG, Individual Taxpayer ID (CPF/MF) 628.925.096-53, with office at Avenida Marechal Floriano 168, Centro, CEP 20080-002, in the City and State of Rio de Janeiro, to replace her, in addition to his current position of Legal Officer, as from March 5, 2012, for the remaining term of office, i.e. up to August 7 , 2012, maintaining all other officers and their corresponding departments. 3.22.2. Board of Executive Officers of Light S.A. In view of the approval of the removal of Mrs. Ana Silvia Corso Matte from her position as Human Resources Officer of Light Energia S.A., this Board unanimously approved and recommended that the Board members appointed by the Company at the Extraordinary Shareholders Meeting of Light Energia S.A. approve the removal of Mrs. Ana Silvia Corso Matte for her position as Human Resources Officer and the election of Mr. Fernando Antnio Fagundes Reis, Brazilian, married, bachelors degree in Law, Identity Card M3.445.200 SSP/MG, Individual Taxpayer ID (CPF/MF) 628.925.096-53, with office at Avenida Marechal Floriano 168, Centro, CEP 20080-002, in the City and State of Rio de Janeiro, to replace her, in addition to his current position of Legal Officer, as from March 5, 2012, for the remaining term of office, i.e. up to August 7, 2012, with no changes in the other officers and their corresponding departments. This is a free English translation of the excerpt from the minutes of the Board of Directors Meeting of Light S.A., held on the date hereof. Cludia de Moraes Santos Secretary