CESP Companhia Energetica de São Paulo : 11.11.2021 - Minutes of the Board of Directors Meeting

CESP - COMPANHIA ENERGÉTICA DE SÃO PAULO

Public Company

CNPJ No. 60.933.603/0001-78

NIRE 35.300.011.996 | CVM Code: 00257-7

MINUTES OF THE BOARD OF DIRECTORS' MEETING

HELD ON NOVEMBER 11, 2021

1. DATE, TIME AND PLACE: Held on November 11, 2021, at 2:30 pm, by videoconference.
2. CALL: The members of the Board of Directors were duly called pursuant to art. 14, §1 of the Company's Bylaws.
3. ATTENDANCE: All members of the Company's Board of Directors attended the meeting, namely: Fabio Rogério Zanfelice, Glaisy Peres Domingues, Ricardo Szlejf, Sergio Ricardo Romani, Beatrice Cristina de Athayde Arfelli Meyer, Mauro Eduardo Guizeline, Frederico Ferreira Sarmento and Felipe Dutra Cançado, through videoconference, pursuant to art. 14, §3 of the Company's Bylaws.
4. BOARD: The works were chaired by Mr. Fabio Rogério Zanfelice and had as its secretary Mr. Mauro Mitsuru Nakamura.
5. AGENDA: The members of the Company's Board of Directors met to examine, discuss. and resolve on the following agenda: (i) 2022 Budget - 1st preview; (ii) Dam Safety Policy; (iii) Revalidation of Corporate Policies and the Code of Ethics; (iv) Vivest - BSPS Debt Equation and Status Migration Agreement; and (v) Budget Proposal for the Company's Independent Special Committee ("Committee") and hiring of third-party consultants that may be necessary to assist the Committee, including legal and financial advisors.
6. PRESENTATION MADE: For topics (i) and (iv) on the agenda of this meeting, the relevant materials were presented to the members of the Board of Directors, with clarifications and explanations being provided to the points and questions raised by the members during the meeting.
7. RESOLUTIONS: After discussing the matters on the agenda, the members of the Board of Directors of the Company present resolved, by unanimous vote and without any reservations, on the following:

1. Approve the Dam Safety Policy, which, signed and initialed by the board, is filed at the Company's headquarters, and a public version will be released;
2. Revalidate for a new period of validity of 2 (two) years, as of the present date, the following corporate policies of the Company: (i) Energy Commercialization Policy; (ii) Insurance Policy; (iii) Risk Management Policy; (iv) Anti-Corruption Policy; (v) Trading and Disclosure Policy; and (vi) Environment Policy; as well as the Company Códigos Code of Ethics, pursuant to the material and texts of the policies which, initialed and signed by the board, are filed at the Company headquarters;

1. Approve, under the terms and conditions of the material presented at the meeting, which initialed and signed by the presiding board, is filed at the Company's headquarters, the parameters of the Mathematical Reserves Adjustment Agreement ("Agreement") of the BSPS Subplan for the Supplementation Plan Retirements and Pension (PSAP/CESP B1) of the Company managed by Vivest and the contracting of a Bank Guarantee to be contracted with the Financial Institution for said Agreement. The Board of Executive Officers and/or the attorneys-in-fact constituted by the Company, pursuant to its Bylaws, is also authorized to sign and provide all documentation and actions necessary for the execution of this resolution.
2. Approve the Committee's budget proposal in the total amount of R$ 7,225,000.00 (seven million and two hundred and twenty-five thousand reais), which will be used to hire third-party consultants that may be necessary to assist the Committee in carrying out its work, including legal and financial advisors.

1. To state that the hiring of the Committee's legal and financial advisors was also approved, to be supported by the budget above approved, under the terms and conditions contained in the material presented at this meeting, which initialed and signed by the presiding board, is filed at the Company's headquarters.
2. The Company's administrators and/or attorneys-in-fact are authorized to sign the instruments for hiring legal and financial advisors as resolved above, as well as to take all necessary measures to comply with what was resolved and approved at this meeting.

8. EXCLUSIVE SESSION AND CLOSING: Finally, the members of the Board of Directors met in an exclusive session pursuant to the fourth paragraph of article 14 of the Internal Regulations of the Board of Directors. There being no further business to discuss, the meeting was adjourned, the minutes were drawn up, read and found to be in order, and signed by the attending Directors. Board: Fabio Rogério Zanfelice - Presidente; Mauro Mitsuru Nakamura - Secretary. Advisers: Fabio Rogério Zanfelice, Glaisy Peres Domingues, Ricardo Szlejf, Sergio Ricardo Romani, Beatrice Cristina de Athayde Arfelli Meyer, Mauro Eduardo Guizeline, Frederico Ferreira Sarmento, and Felipe Dutra Cançado.

It is an exact copy of the original drawn up in the proper book.

São Paulo, November 11, 2021.

[Document digitally signed with ICP-Brasil digital certification]

________________________________	____________________________________
Fabio Rogério Zanfelice	Mauro Mitsuru Nakamura
Chairman	Secretary