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MINUTES OF THE FORTY-SEVENTY-EIGHTH MEETING
OF THE FISCAL COUNCIL OF CENTRAIS ELÉTRICAS BRASILEIRAS S.A. -
ELETROBRAS, HELD ON MARCH 27, 2020.
NIRE 53300000859/CNPJ nº 00001180/0001-26
I certify, for the appropriate purposes, that on the March 27 2020, at 2:00 pm, by mechanisms for remote meeting due to the restrictive measures to contain the covid-19 pandemic, Eletrobras' Fiscal Council met. Accordingly, at the request of the President, this ordinary meeting in March will be exclusively for the analysis of the 2019 annual financial statements and the issuance of its opinion, in accordance with applicable legislation. All other matters were postponed. The Chairwoman of the Fiscal Council, PATRICIA VALENTE STIERLI, and the Directors, EDUARDO COUTINHO GUERRA, GIULIANO BARBATO WOLF and THAÍS MÁRCIA MATANO FERNANDES LACERDA participated in the meeting. To secretary the meeting, Ms. Marcella Fuchs Salomão was appointed by the General Secretariat. Agenda: 1. Initial argue among Directors. The Fiscal Council members continued to analyze and discuss the financial statements and the Management Report. During the discussions, they analyzed the suggestion of the Company's Management that the opinions on the financial statements and another on the capital budget be issued, a proposal on which they agreed. In addition to the opinion for the financial statements, including the Management Report and the proposal for the allocation of income, another opinion required by law for the approval of a capital budget, necessary to support the proposal for the constitution of a reserve provided for in Article 196 of the Corporations Act.Then, the initial information presented to support the opinion of the Fiscal Council and the alternatives for drafting the aforementioned opinions were discussed, based mainly on opinions issued by Eletrobras' Fiscal Council itself in previous years. 2. Issue of opinions. Finally, the Directors concluded their analyzes based on the following documents, delivered in their final version: i) 2019 Financial Statements and explanatory notes; ii) Management Proposal for the ASM 2020; iii) 2019 Management Report; iv) Auditors' Report on the Individual and Consolidated Financial Statements; v) CAE's Annual Activity Report. In view of the documents presented and the clarifications provided by the Financial Officer and the CAE, as well as the presentations made at the joint meeting held with the CA on the same date, the Fiscal Council memebers proceeded to sign the following documents: i) Opinion on the 2019 Financial Statements; and ii) Opinion on the proposed Capital Budget - PDNG 2020-2024, which are attached to these minutes. 3. Registration: the Fiscal Council met jointly with the Audit and Risks Statutory Committee - CAE on march 24, 2020 for the joint analysis of the preliminary documents of the financial statements and have the opportunity to participate in the presentations made by the Financial and Investor Relations Officer, with the presence of Ms Elvira Baracuhy Presta and the Company's Accounting, Corporate Finance and Investor Relations Superintendencies.There being no further business to discuss, Ms. President declared the meeting closed, determining the drawing up of the Minutes, which, after being read and approved, were signed by those present and me, Marcella Fuchs Salomão, Secretary. The other matters at that meeting were omitted from this certificate, as they concern interests that are purely internal to the Company, legitimate caution, supported by the duty of confidentiality of the Management, according to the “caput” of
MFS/PRGS