Governance Structure

CPFL Renováveis is a listed company in the "A" category of the Brazilian Securities Commission (CVM) with shares are traded in Stock Exchanges. The company takes on additional governance commitments, and grants fair and equal treatment to shareholders, co-workers, customers and suppliers. Thus, in a potential Initial Public Offering (IPO), the company shall be able to participate in the New Market of the São Paulo Stock Exchange (B3) .

The New Market is a segment of the São Paulo Stock Exchange - B3 that gathers companies committed to the highest level of corporate governance. The demanding listing rules of that market segment expand shareholders' rights, improve the quality of the information disclosed, and at determining the resolution of disputes by way of an Arbitration Chamber provide investors with the assurance of a swift and specialized alternative.