ENEVA S.A. CNPJ/MF: 04.423.

567/0001-21 (Public Held Company) MATERIAL FACT NOTICE ENEVA appoints Fabio Bicudo as new CEO Rio de Janeiro, January 27, 2014 ENEVA S.A. (ENEVA or Company) (BM&FBovespa: ENEV3; GDR I: ENEVY), pursuant to Article 157, paragraph 4 of Brazilian Law No. 6.404/76 and CVM Rule No. 358/02, hereby announces that, following its regular meeting today, the ENEVA Board of Directors unanimously agreed to appoint Fabio Bicudo as the Companys new Chief Executive Officer. Eduardo Karrer, who has completed an important period in the creation and growth of ENEVA, will be moving on to new opportunities. Since 2007, Eduardo Karrer has served as the Companys CEO. Under his leadership the Company has undergone a major transformation. Over the years, Mr. Karrer oversaw the growth of the Companys portfolio. In this period the Company invested approximately R$ 12 billion and commissioned 2.4 GW of generation capacity. The new CEO of ENEVA is Fabio Bicudo. Mr. Bicudo was most recently the co-head of Brazil Investment Banking and a member of the Brazil Management Committee at Goldman Sachs. Mr. Bicudo has over 16 years of experience in investment banking at Goldman Sachs and Citigroup in New York and So Paulo across different sectors with local and global clients. Bicudo also has outstanding experience and knowledge of the Brazilian energy sector and possesses a wide network in the local market, having built a team that led several of the most relevant IPOs and cross-border M&A transactions in this sector. He holds an MBA in Finance from Columbia Business School, having also studied at HEC in Paris and completed his undergraduate studies at Fundao Getlio Vargas FGV, in So Paulo. The Board of Directors accepted Eduardo Karrers resignation and thanked him for his work during the past seven years. Chairman Jrgen Kildahl commented: On behalf of the entire Board of Directors, I would like to extend our appreciation to Eduardo for taking the Company forward during the past years. Under his leadership, it has transformed itself from a development organization into an operating business and overcome a difficult time. We are grateful to Eduardo Karrer for his personal dedication and wish him success. Within a changing market environment in Brazil, ENEVA will continue to face challenges. We are very pleased to welcome Mr. Bicudo as the new CEO and he has the Board of Directors full support as the Company enters the next phase of its strategic repositioning. The changes are effective as of February 17 after certain administrative requirements are completed.

ENEVA S.A. CNPJ/MF: 04.423.567/0001-21 (Public Held Company)

ENEVAs Board of Directors also welcomed two new independent members, Mr. Luiz Fernando Fleury and Mr. Ronnie Vaz Moreira. Mr. Fleury, who were elected on December 12, 2013, has formerly served as CEO and Board Member of Redecard and Banco Ibi and holds a Bachelor degree in Business Administration from Fundao Getlio Vargas FGV, and graduate degrees in Financial Management from FGV and the New York University - NYU. Mr. Moreira, elected on January 10, 2014, has extensive experience in the energy sector, having served as CFO of Petrobras and Executive VP at Light. He holds a Bachelor degree in Economics from Universidade Federal do Rio de Janeiro UFRJ, and a Masters in International Management from the American School of International Management Thunderbird.

Eduardo Karrer CEO and Investor Relations Officer ENEVA S.A.

ABOUT ENEVA ENEVA is a power generation and trading company, with complementary businesses in natural gas exploration and production. The Company currently has approximately 2.4GW of gross installed capacity in operation and is building over 524MW of additional capacity, which places it among the largest private power generation companies in Brazil. ENEVA also owns an interest in natural gas onshore blocks in the Parnaba Basin, which have contracts to supply the Companys integrated power plants with up to 8.4 3 million m of natural gas per day. Investor Relations: Flavia Heller Rodrigo Vilela Luiza Santoro +55 21 2163-4459 ri@eneva.com.br ir.eneva.com.br Press: Carla Assemany Isabella Paschuini

+55 21 2163-7356 / +55 21 99953-7255 +55 21 2163-6114 / +55 21 99847-0955